GMV of China's Online Travel Totaled 165.94 Bn Yuan in Q1 2017

Source:iResearch June 15,20173:02 PM

According to data from iResearch, the GMV of China's online travel totaled 165.94 billion Yuan in Q1 2017. Its YoY growth was 25%, 8% lower than the growth in the corresponding period of the previous year. But it is expected to have a steady growth in 2017. iResearch holds the opinion that with the steady growth of internet users and exhaustion of the traffic brought by demographic dividend, China’s online travel market has stepped into a stable period.

Data from iResearch show that the revenue of online travel agencies (OTA) hit 89.6 billion Yuan in Q1 2017 with a YoY growth of 34.6% and a QoQ growth of 16.2%. Compared with 2016, the growth of OTAs’ revenue is slowing down.
The share of online vocation booking in online travel market kept increasing and reached 15.9% in Q1 2017 with a QoQ growth of 0.6%. As outbound travel and self-guide travel became increasingly popular, the share of online vocation market is expected to keep increasing.
 
In Q1 2017, flight ticket booking accounted for 60.7% in online travel market by GMV, increasing slightly thanks to the Spring Festival travel rush.

In Q1 2017 the share of China’s online hotel booking in online travel market was 19.2% with a QoQ decline of 0.4%. With the consumption upgrading and the rise of middle class in China, people have higher requirement for traveling and more personalized demand for accommodation. Thus, the medium- and high-end hotels and homestay will be more and more popular among travelers in the future.

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