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China’s tourism revenue for 2014 estimated at 3.3 trillion RMB

10/14/2014| 3:40:53 PM| 中文

China will have a total of 3.72 billion trips during 2014, an increase of 10% compared with last year.

The China Tourism Academy (CTA) estimates that China will have a total of 3.72 billion trips during 2014, an increase of 10% compared with last year. Total revenue from tourism will be 3.3 trillion RMB which is an increase of 14.6% compared with last year.   

According to the forecast data in 2014 domestic travel will have 3.6 billion trips generating 3 trillion RMB, an increase of 15.6% compared to last year. Inbound travel will have 128 million trips which is basically the same as last year’s number. Foreign currency revenue from inbound travel will be US$ 48 billion, an increase of 6.2% compared with last year. Outbound travel will have 115 million trips, an increase of 17.5% compared with last year. Spending from outbound travel will be US$ 155 billion, an increase of 20.8% from last year. The trade deficit from tourism will exceed US$100 billion.

CTA president Bin Dai says, “The rapid liberalization of outbound travel in contrast to the normal development of inbound travel has created a scissors difference between the two. However if we think about it from diferent angles the deficit isn’t a terrible thing. From the perspective of travelers, they can benefit from going abroad and seeing the world which will broaden their vision and improve their character. From the angle of the nation outbound tourism can become a powerful card to use for economic diplomacy and overseas relations”.  (Translation by David)

TAGS: 2014 tourism | deficit | forecast
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