China Travel News’ Post

Yup, China is collapsing. Zero consumer spending, people stay at home and eat cup noodle three times a day. […] Trip.com Group's shares jumped to a record high after China's largest online travel agency said net profit surged 614 percent last year thanks to a resilient travel demand. Trip.Com [HKG: 9961] jumped 7 percent to HKD356.60 (USD45.59) as of 2.30 p.m. in Hong Kong today. Its New York-listed stock [NASDAQ: TCOM] closed 1.1 percent higher at USD41.91 yesterday. Net profit was CNY10 billion (USD1.4 billion) in the 12 months ended Dec. 31, the Shanghai-based firm said in an earnings report released yesterday. Revenue soared 112 percent to CNY44.5 billion. Trip.Com's product development expenses jumped 45 percent to CNY12.1 billion, accounting for 27 percent of its revenue. "In 2023, China embarked on a significant journey of reconnecting with the world driven by the rising travel sentiment. Our global business also experienced substantial growth fueled by our expanded market presence," said James Liang, executive chairman of Trip.Com. "With a continued focus on globalization and AI innovations, we are confident to build upon the success of 2023 and further explore the opportunities that lie ahead." […] #china #tourism #travel #consumerspending #chineseeconomy #airtravel #hospitality #railindustry #overseas #hotels #ai #innovation #trips #equityresearch #hongkong #stockexchange

As the No. 1 B2B travel wholesaler in China, the world's biggest source market, Dida is uniquely placed to act as a proxy for what is happening in the wider market. Check out this short video on the key travel growth trends we have tracked during the 2024 Chinese New Year!

Unlock immense growth potential for your business by pivoting towards attracting international travellers. Leveraging diverse marketing channels empowers you to spread out risk and bolster your revenue, giving your business a robust structure. Moreover, diversification of your customer base is a proven strategy for maintaining business growth, even amidst challenging conditions. Remember, economic or political instabilities rarely impact all markets at the same time. So, the question lies - how do we effectively tap into the international traveller market? Let's explore this together! Here is 1 of 6 videos on 'How to Work with Travel Trade'. ✈️ How to Work with Travel Trade: https://bit.ly/3X4CNzt ✈️ Are You Travel Trade Ready? https://bit.ly/46I5shS

🌍 Which tourism brands are consumers interested in receiving embedded finance products from?     🏆 It is not surprising that the largest and best-selling companies on the German market receive the highest level of approval from customers when it comes to offering financial services.    Highest approval among respondents for financial services from travel providers: TUI 74%; Booking.com 71%; Trivago 60%.    Highest approval among respondents for financial services from hotel chains: Hilton 69%; Best Western 62%; Marriott Hotels 62%.    These figures reflect the long-standing trust of customers in these brands. Businesses operating in these markets should consider these findings to tailor their offerings and marketing strategies accordingly. Understanding the varying preferences and adoption rates of embedded financial products can help companies cater to specific market demands and seize growth opportunities.    👀 Discover the benefits of offering digital financial services to consumers in our white paper: https://lnkd.in/eTZY2CSE | Darren Lane | Gabriel Yermo | Leonard Coen | Delia D. König | Jens Frederik Natelberg | Denis Wanke | Jakob Wolf | Rinse Jacobs | Germain Bahri | Wolfgang Zillinger | Matteo Nigro | Russ Sopp | Oliver Smith | James Farrow | #tourism #travel #research #hospitality #embeddedfinance #fintech #opportunity #boost #read #consumers 

"Strong demand characterized Southeast Asia’s exceptional market recovery in 2023. Marked as the first full year of travel post-COVID, gross bookings totaled $31.3 billion. Driven by a largely mobile-first market, online gross bookings have grown more quickly than the market overall and will continue to do so looking forward." Great to work with the Phocuswright team once again to research and produce the new Southeast Asia Travel Market Report 2022-2026. It assesses the region's four key travel markets, Thailand, Indonesia, Malaysia and Singapore, and is packed with stats, insights and outlook analysis. So what happens next? "While still lagging 2019 totals, 2024 should deliver a full recovery for most markets and segments. Relative to 2023, however, more moderate growth is expected for the rest of the forecast period." Dive into the report summary here… https://lnkd.in/gmjJf-jx

The best evidence yet of the strong recovery of the outbound Chinese travel market (following the lifting of restrictions) are the 2024 Chinese New Year celebrations, where hundreds of millions of cross-regional and long haul trips are currently underway. To gain an insight into the top trends, watch this brief video based on Dida's booking data! #yearofthedragon #chinesenewyear #highgrowth

MAXIMIZE SEPTEMBER REVENUES - AVOIDING THESE 3 COMMON MISTAKES How to Maximize Your September Revenues as a European High-Quality Tourism Business: 3 Common Mistakes to Avoid As the summer season winds down, September offers a unique opportunity for European tourism businesses to capitalize on the return of Chinese tourists. However, many high-quality businesses make costly mistakes that prevent them from fully tapping into this lucrative market. Here are 3 common mistakes to avoid: 1. Visibility Challenges: Chinese tourists rely heavily on digital platforms for travel decisions. Many businesses fail to make themselves visible where these travelers are searching. Is your business showing up on their radar? 2. Timing Misalignment: Chinese visitors travel to Europe and spend money at different times than we do in Europe. Businesses often miss out by not aligning their marketing efforts with the right moments. Is your timing right? 3. Misunderstanding Preferences: This target segment values different offerings than we do. Many businesses mistakenly assume that what works for European customers will resonate with Chinese visitors. Are you providing what they value? Avoid these pitfalls to maximize your revenue potential this September. Let’s strategize your next move with ease to unlock this target segment. DM me to discuss how! 🚀 #Boutiquehotel #Luxuryhospitality #Luxuryretail #Hospitality #Crackthechinacode

https://lnkd.in/gfjy6D2u #Taiwan #Korea #Lion Travel #TW: 2731 #Hanatour #KR: 039130 The largest traditional travel agencies in Taiwan and South Korea, Lion Travel (TW: 2731) and Hanatour (KR: 039130), have both announced their Q3 2023 financial reports. There has been a significant change in the recovery trend during this year's summer peak season for both companies. Hanatour has placed more emphasis on digitalization (according to the announcement, their app's monthly active users reached 532,000, surpassing Triple and Myrealtrip) and the sale of Hana Pack 2.0: mid-to-high-priced package. This has led to a structural change in Hanatour's earnings, with GMV soaring by 90% compared to the same period in 2019, but revenue only at 60% of the 2019 level. Lion Travel, on the other hand, has focused more on establishing its own ecosystem. According to Lion Travel's financial reporting standards, its GMV (equivalent to "收入" in the financial report) was lower compared to the same period in 2019. However, despite their different strategies, both companies' operating profits significantly outperformed the same period in 2019. 1. Lion Travel reported Q3 2023 revenue of 6.65 billion NTD (approximately $211 million), which is 32% lower than the same period in 2019. Their operating profit was 215 million NTD (approximately $6.74 million), turning a profit compared to a loss in 2019. In Q3 2019, the revenue was 7.73 billion NTD (approximately $245 million), with an operating loss of 1.86 million NTD (approximately $60,000). As of November 27, 2023, based on the closing price on the local stock exchange, Lion Travel's market capitalization is 12.9 billion NTD, approximately $410 million. 2. Hanatour recorded a revenue of 126.7 billion SKW (approximately $97.8 million) in Q3 2023, which is 39% lower than the same period in 2019. Their operating profit was 13.2 billion SKW(approximately $10.2 million), a 155% increase from 2019. In Q3 2019, the revenue was 208.4 billion SKW (approximately $160 million), with an operating profit of 5.18 billion SKW(approximately $4 million). As of November 27, 2023, based on the closing price on the local stock exchange, Hanatour's market capitalization is 870.9 billion SKW, approximately $672 million. ----------

The recovery of China’s outbound travel market is set to gather pace in the next year, according to new data from ITB China’s new Travel Trends Report. Figures show that 75% of market players believe their outbound business will reach or surpass 2019 levels by the end of 2024, with growth being driven by travel to the Middle East and parts of Europe. The promise of Chinese recovery is one we have heard before, but as data shows interest in travel beyond Asia is growing, retailers and brands must once more ask themselves if they are prepared for the return of these shoppers. Read the full story: https://lnkd.in/gfiyQfNy #China #TravelRecovery #TravelRetail

According to estimates from AAA, international travel bookings for 2023 were up 40 percent from 2022 through May. With increased international travel, a demand for Foreign currency exchange follows, with kiosks at the airport taking a majority of that demand due to convenience. I ask leaders of financial institutions, have you ever considered participating in supplying the demand that’s to come? Well, Money 4 Travel can give you an entire ecosystem to provide such a service to your customer base. This will allow you to capitalize on an advantage over the kiosks. Connect with me to learn more about the opportunity Essiell’s Money 4 Travel can bring your business. #banking #travel #foreignexchange