Thursday, November 21, 2013

Changing Dynamics of the China Tourism Market 2013

The tourism industry in China has always been being recognized as a sector crucial for the country's economic growth. The sector contributes to the advancement of related industries, society and the economy as a whole. The industry also creates employment opportunities in tourist cities and improves the social, cultural and ecological environment. However, off late the industry has been experiencing a slow growth. China's Inbound Tourists are at its lowest in the first half of 2013 compared with the same period in 2010-2012. As reported by the China Tourism Academy, the number of inbound tourists to China stood at 133 million person-trips in the year 2012 which was approximately a 2% year-on-year fall. The factors being cited for fall in the rate of inbound tourists in China are the slowdown of the global economy and the appreciation of the Yuan. The latest development in the sector is that the country's first tourism law has come into effect from 1 October 2013. The obj

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