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Trip.com Soars on Booming China Travel Demand

May 24, 2024 China Industry Updates

The Chinese travel behemoth Trip.com had a fantastic first quarter, fueled by an increase in demand for travel. Domestic reservations rose by more than 20%, while outbound hotel and airline bookings soared by more than 100% year over year.

Due to the surge in travel, income increased by 29% annually to RMB 11.9 billion (US$1.6 billion). The company’s net income climbed by 26%, suggesting that the travel industry in China is seeing a strong rebound.

Trip.com Executive Chairman James Liang said, “A more stable supply and relaxed visa requirements are fueling the travel surge.”

The company attributes its growth in both domestic and international markets to increased product selections and a dedication to innovation.

Revenue from lodging climbed by 29%, that from transportation by 20%, and that from package trips by an astounding 129%.

With confidence, Trip.com is getting ready to take advantage of China’s expanding tourism industry.

Original Story by: Inside Asian Gaming

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