Mafengwo has received funding to the tune of US$100 million from a number of investors including Expedia’s Rich Barton.
Foreign tourism boards are trying to capitalize on this opportunity as international travel is increasingly getting more accessible for Chinese households.
The Guangdong Tourism Association is tasked to promote the setting up of tour companies solely or jointly owned by Hong Kong investors.
Spring Airlines is set to increase its total capacity for international flights from 20% in 2014 to 30% this year, and Air Asia as its international operation expands.
The Oxford report also forecasts accelerated growth in the global tourism industry in the next ten years spurred by China and other emerging markets.
Schengen zone's biometric visa applications might cause Chinese visitor arrivals to those regions to plummet, according to officials.
After two successful financing rounds, mid-range Vienna Hotels Group is raising a third capital injection of RMB300 million.
The airline also reported in its annual fiscal report that a dividend of RMB2.4 (including tax) per 10 shares will be distributed to shareholders.
