China Online Travel Market Dramatically Grows 29.0% in 2013

According to iResearch, China online travel GMV projected to reach 220.46 billion Yuan in 2013, up 29.0% compared with 2012. The growth of online travel market was mainly fueled by rising online air ticket transactions, hotel bookings and package tours.

As online air ticket market tended to reach maturity with high penetration in total air ticket bookings, its growth will slow down in the future. By contrast, boosted by the rapid rise of online leisure travel, hotel bookings and package tours experienced explosive growth. And package tours accounted for a growing share in total online travel market. In addition, the booming online car rental and taxi-hailing services will become new growth engines for online travel market.