Market monitor: China at a glance
Hotel demand is expected to grow 4.4% a year through 2020.
Companies spend nearly US$327 billion (2.2 trillion Chinese yuan) a year on travel to, from and within China, according to the last-available annual data from 2017. Domestic travel is the largest segment, making up 55% of all business travel spending; 38% of spending comes from outbound international trips. Chinese travelers dominate the market, accounting for 93% share of corporate travel spending. Between 2012 and 2017, business travel spending grew 12.4% per year, on average. Over that time, annual spending increased 11% on domestic trips; 17% on outbound travel and 4% on inbound travel. Business travel spending is expected to slow to average growth of 10.5% a year through 2022. When business and leisure travel numbers are combined, international overnight trips to and from China (including Hong Kong and Macau) averaged growth of 7.5% annually between 2012 and 2017—totaling more than 154 million journeys a year.
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