The new law’s effects are now being felt by online customers booking train tickets ahead of the Chinese New Year travel rush.
On their trips to 157 countries and regions, Chinese travelers spent more than $120 billion in 2018, compared to $100 billion in 2017, the CTA estimated.
Total bookings made directly via operator websites went from 79.2% in 2017 to 66.7% in 2018, while the percentage of total bookings going to online marketplaces increased from 3.2% to 9.1%.
Brexit brings greater uncertainty to the regional business travel market, organisations are remaining cautious about spend.
The news sparked speculation that Airbnb is planning to eventually manufacture its own lodging, perhaps even sell real estate. An Airbnb spokesperson denied such speculation.
ZoloStays’ revenue from operations stood at $3.88 million for FY18 while it incurred a loss of $576.24K. The startup plans to clock $14.4 million in revenue in the next financial year.
Wirecard has partnered with Ctrip to introduce multi-currency Visa cards. The new products are intended to enable digital payment for Chinese travellers while abroad.
Chinese tourists registered to participate in domestic tourism and outbound tourism products located in nearly 978 cities at home and abroad, to 96 countries and regions around the world.
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