China's travel market has grown by leaps and bounds over the past decade, and online travel booking is increasingly occupying a dominant position within the market as consumer preferences shift in favor of independent, personalized travel over packaged group tours.
In 2017, year-on-year growth in the online travel market in China hovered around 25%, lower than in years past, but still among the most rapid growth of any major economy.
Online travel booking
In Q3 2017, the online travel market recorded a transaction volume of 209.6 billion yuan (US$33.4 billion), equating to growth of 24% over Q3 2016. Growth has slipped significantly since the year prior (34.9% to 24.0%), likely because the market is increasingly sated by existing companies and offerings.
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