GMV of China's Online Vocation Hit 96.29 Bn Yuan in 2016

Source:iResearch May 16,201710:01 AM
Data from iResearch showed that the GMV of China's online vocation was 96.29 billion Yuan in 2016, surging 37.4% from a year earlier. Its share in the general online travel sector was 16.3% in 2016, up 0.1% compared with 2015. iResearch holds the opinion that online vocation was the segment with fastest growth in online travel market, given that its share in online travel market increased from 5.8% in 2009 to 16.3% in 2016. Overall, China’s online vocation market enjoys a bright future and is expected to keep a growth rate higher than 25% in the following years.
According to data from iResearch, the structure of China’s online vocation market was stable in 2016. Tuniu, Ctrip and LY.com ranked the top 3 with a market share of 19.4%, 19.2% and 10.0% separately. iResearch believes that the share of small-sized companies shrank due to the increasingly fierce competition in online vocation market after a few mergers and acquisitions appeared in online vocation market in 2016. Moreover, some other platforms like Fliggy and Meituan developed fast in the past year, leading to the GMV expansion of platform-based online vocation companies.

With the status of Chinese passport rising around the world and the increasing of international flights, the number of Chinese outbound tourists rises year by year. According to data from CNTA, the number of Chinese outbound tourists totaled 120 million in 2016 with a growth of 4.3%. Also, data from iResearch suggested that online outbound travel took up half of China’s online vocation market in 2016. Its GMV share reached 53.3% with a growth of 0.7%, while the shares of domestic travel and short-distance travel only occupied 24.0% and 22.7% respectively. iResearch forecasts that China’s outbound travel market will maintain its steady growth in three years and its share in  online vocation market will increase steadily as well.

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