The tourism industry, internationally known as the travel industry, is a comprehensive industry that specializes in or is mainly engaged in soliciting and receiving tourists and providing them with transportation, sightseeing, lodging, food and beverage, shopping, culture and entertainment and other six segments by virtue of tourism resources and facilities. The tourism business is composed of three parts: tourism, transportation and accommodation represented by hotels. These three parts are the three pillars of tourism.

Steady growth in the domestic tourism market

According to statistics from China's Ministry of Culture and Tourism (MCT), the domestic tourism market has continued to grow steadily from 2010-2019; the number of domestic tourists exceeded 5 billion for the first time in 2017, and the number of domestic tourists in 2019 exceeded 6 billion to reach 6,006 million, a 8.43% year-on-year growth over 2018.

In 2010-2019, the total scale of China's tourism industry achieved steady growth, and the tourism industry is becoming an important engine of economic growth; in 2010, the total revenue from tourism was 1.57 trillion yuan, and in 2019, the total revenue from domestic tourism was 6.65 trillion yuan, which hit a new peak in history, with a compound annual growth rate of 17.36%, and a year-on-year growth rate of 11.06% compared with 2018 .

China's comprehensive contribution of tourism to total GDP is rising steadily

The tourism industry is an important part of the national economy, and plays an important role in contributing to a country's or region's economic growth, and the size of the tourism industry's comprehensive contribution to the total GDP is an important indicator of socio-economic development and observation of the industrial structure.2019. China's comprehensive contribution of tourism to GDP was 10.94 trillion yuan, accounting for 11.05% of total GDP, reaching a record high since 2014. From 10.39 percent in 2014 to 11.05 percent in 2019, the combined contribution of China's tourism industry to total GDP has steadily increased.

The steady rise in the combined contribution of China's tourism industry as a percentage of total GDP reflects, on the one hand, the parallel development of China's tourism industry and the national economy, and on the other hand, that the tourism industry is providing impetus for the economy driven by domestic demand.

Domestic tourism market during the National Day holiday

According to tourism market data released by China's Ministry of Culture and Tourism (MCT) for the eight days of the National Day holiday, domestic tourism revenues during the National Day holiday increased year by year from 2013 to 2019, but the growth rate showed an overall fluctuating downward trend, with tourism revenues in 2019 exceeding 600 billion yuan and reaching 649.71 billion yuan, an increase of 8.45% year-on-year. 2020, the country*** received 637 million domestic tourists, 79.0% year-on-year recovery on a comparable caliber; to achieve domestic tourism revenue of 466.56 billion yuan, 69.9% year-on-year recovery on a comparable caliber.

From the point of view of the number of tourists received during the National Day holiday around the country, in 2020, Henan Province ranked first in the country in terms of the number of tourists received, and the province *** received 72,349,800 tourists, an increase of 9.09% compared with the same period of 2019; Jiangxi received 68,097,500 tourists, ranked second in terms of the number of tourists in the country; Shanxi received 52,468,900 tourists, ranked third. In addition, it is worth mentioning that, as the epidemic damaged the most serious Hubei tourism industry recovered faster, October 1 to 8, 2020, the province *** received 52.2859 million tourists, to achieve a comprehensive income of 34.829 billion yuan of tourism, respectively, recovered to last year's National Day holiday 82.74% and 72.26%.

From the point of view of tourism revenue of each province, during the 2020 National Day holiday, Jiangsu, Jiangxi and Guizhou provinces ranked the top three in the country, realizing tourism revenue of 51.255 billion yuan, 39.881 billion yuan as well as 36.721 billion yuan respectively.

China's tourism industry trend analysis

According to the China Tourism Research Institute estimates, it is expected that for the whole year of 2020, the number of domestic tourist trips will grow negatively by 15.5%, with an annual year-on-year decrease of 932 million trips; the domestic tourism revenue will grow negatively by 20.6%, with an annual decrease of tourism revenue of 1.18 trillion yuan. By the end of 2020, it is expected that the number of national tourists fell to 5.074 billion, the national tourism revenue fell to 4.55 trillion yuan.

But in the future, with the further improvement of people's living standards and changes in the concepts of consumerism and consumer attitudes, the demand for tourism will continue to increase, and the development of the tourism industry has a promising future. Therefore, the forward-looking forecast, to 2025, the number of domestic tourists will exceed 8.3 billion yuan, tourism revenue close to 10 trillion yuan.

-- The source of the above data and analysis refers to the China Tourism Industry Market Outlook and Investment Strategy Planning Analysis Report released by the Prospect Industry Research Institute.