In 2017, China earned $850 billion from tourism, up 15.1%. The tourism industry contributed ￥9.13 trillion to GDP, accounting for 11.04% of economic output, according to China Tourism Academy.
Currently there’re over 20,000 properties in 44 cities across China with nearly a million registered users, and the inventory is expected to reach 100,000 after the completion of the current round.
Both Meituan-Dianping and Mobike have both rolled out their ride-hailing service.
Those interviewed said they like these inns because they can experience local customs and cultures, and the services provided are often personalized, the survey found.
About 42% of the tourists chose to travel with tour groups, while the rest preferred a personalized travel plan.
WandTrip has won multi-million yuan financing to tap the global alternative accommodation market worth $114.4 billion in 2017, and its compound annual growth rate topped 20% in the past six years.
The guarantees by multiple banks are seen not only attracting regional Japanese financial institutions and other smaller players, but also helping to cap the interest rate of the float.
Ctrip achieved record gross merchandise value (GMV) in 2017, with over 150 million monthly active users. It is now aiming to push GMV to one trillion yuan within three years.
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