Some 129 million outbound trips were recorded in 2017, 45.8 million more than 2012. The number of inbound tourists rose 7% from five years ago to reach 139 million last year.
China Youth Travel Group’s actual controller will become China Everbright Group after that group’s asset acquisition, while that of China CYTS Tours Holding will be the State Council.
A cooling economy means holidaymakers in the world’s second-largest economy, who spent USD 261 billion overseas last year, have stayed closer to home this year, providing a boon for domestic tour operators.
The joint venture between Thomas Cook and the Chinese investment conglomerate Fosun will have served 20,000 customers by September 30, the end of its first year.
Positioning itself for China's upper scale travel market, the joint venture between Thomas Cook and Fosun seeks long-term growth by developing differentiated packages and focusing on online presence.
Nearly 80% of the listed tourism companies in China achieved growth in H1 2017. BTG Hotels, Caissa, CYTS and other companies saw net income attributable to stake holders surged by over 500%.
In H1 2017, CYTS made ¥1.652 billion in operating revenue from travel products, ¥886 million from integrated marketing services, ¥197 million from hotels and ¥784 million from attractions.
Travel Leaders Group and ALTOUR have signed an agreement to unite under common ownership to form a single, powerhouse travel agency organization with nearly $24 billion in annual sales.
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