Research Insights Moneyed, Mobile & Massive: China's New Traveler Class

Moneyed, Mobile & Massive: China's New Traveler Class

Published:
October 2013
Analyst:
Douglas Quinby

Moneyed, Mobile & Massive: China's New Traveler Class

The long-awaited, much-anticipated F-1 filing of Qunar, China's leading travel metasearch website and most trafficked travel website, is here. With it comes yet another powerful reminder of the rapid ascent of Asia – and in particular China – in the global travel and online travel marketplace. Over three years, from 2010 to 2012, the company's revenue effectively doubled – twice – echoing the broader digital travel revolution sweeping the Middle Kingdom.




Four Reasons Why China Is Travel's – and Online Travel's – Market to Watch:
  1. China is now the largest travel market in Asia, and the second largest in the world. In 2012, China overtook Japan to become the single largest travel market in Asia Pacific, with gross bookings exceeding $96 billion.
  2. China's online travel market will more than double between 2012 and 2015, when total online gross bookings will exceed $30 billion. And with online penetration still well below levels in the U.S., Europe and developed markets in Asia Pacific such as Australia and Japan, there will still be plenty of headroom for growth well beyond 2015.
  3. China is home to a quarter of a billion travelers, hungry to see the world and ready to spend their rising wealth to do so.
  4. Mobile and social activity is already racing ahead of mature markets in the West, with smartphone and tablet shopping incidence and social network engagement among Chinese travelers significantly greater than in Europe or the U.S.
Join Phocuswright on Wednesday, Oct. 9, at 12 pm EDT for Moneyed, Mobile & Massive, China's New Traveler Class, a webinar on Chinese traveler activity and behavior. This online event will present select findings from Phocuswright's recently released China Consumer Travel Report, examining today's Chinese traveler, who they are, where and why they travel, what they buy, how they shop and book, and the accelerating role of social media and mobile across the travel lifecycle.

Phocuswright Research provides a 360-degree view of the online travel market in China to help you understand the rapid changes transforming Asia's largest and still rising marketplace: