CITS registered operating revenue of RMB 16.445 billion in first three quarters of 2016, up by 4.12% YoY. Net income was RMB 1.461 billion, 10.78% more than last year.
State-owned travel agency CYTS recorded operating revenue of RMB 7.735 billion in first three quarters of 2016, down by 1.65% YoY. Net income was up by 53.15% YoY.
Travel brands in China have netted RMB 478.2 billion in revenues so far this year, 13.5% more than last year’s RMB 421.3 billion.
Caissa Tourist’s operating revenue rose 23.45% to RMB 2.428 billion in the third quarter of 2016. Net income climbed 35.98% to RMB 179 million.
UTour reported RMB 3.886 billion operating revenue in the third quarter of 2016, 16.58% more than last year. Net income rose 20.73% to RMB 135 million in the quarter.
A Citi report said that 90% of the Chinese travelers opt to travel independently and outbound tourism by elderly Chinese is growing 217%.
Ctrip has invested in two of North America’s largest tour operators to build up its destination service and procurement system in the area.
CTA projects that total spending by 750 million Chinese tourists at home and abroad hits USD 72 billion for the National Day holiday this October.
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