SINGAPORE – Media OutReach – October 30, 2023 – First online travel agency in China,
Tongcheng Travel Holdings Limited (“Tongcheng Travel” or the “Company”, together with its subsidiaries the “Group”, stock code: 0780.HK), debuted at ITB Asia, the largest travel trade show in the Asia-Pacific region which was held earlier in Singapore. , where it presented its rich product offering and comprehensive services to travel professionals around the world. The company is leveraging Singapore’s position as a regional hub to expand its partnerships with more suppliers, hotels and travel agencies to accelerate its expansion in Asia Pacific and offer Chinese consumers more comprehensive overseas travel packages and experiences.
“Asia, especially East and Southeast Asia, has always been a target travel destination for Tongcheng Travel,”
said Li Liang, senior vice president of Tongcheng Travel and CEO of accommodation and local consumption businesses.. “Participating in ITB Asia allows us to explore expansion into Singapore and neighboring countries and regions, and partner with quality hotel providers across the Asian region and beyond,” he said. added.
China was one of the world’s largest consumers of outbound tourism before the pandemic. With the remarkable recovery of the outbound travel market, the changing development trends and traveler preferences have attracted the attention of major travel agencies around the world. In particular, the growing demand and consumption power of users in China’s non-first-tier cities become the driving force for the recovery of tourism spending. As international air travel continues to normalize with expanded coverage, making travel from non-first-tier cities in China easier, demand for outbound travel is expected to further increase.
“We see optimistic growth potential in China’s outbound travel market,” Li Liang added. “As airline capacity and destination supply chains gradually recover, China’s outbound travel market is poised for further growth. Tongcheng Travel has already served millions of travelers in China, especially in non-tier one cities where we have a competitive advantage. well to capitalize on the opportunities in the outbound travel market. »
As of the second quarter of 2023, approximately 87% of Tongcheng Travel’s registered users resided in non-first-tier cities in China. Around 70% of the Weixin platform’s paying users came from lower-tier cities during the same period. With its strong market position in these areas, the Company is well positioned to benefit from the outbound travel boom in China.
Younger users are becoming the dominant force in China’s outbound market. Users born after the 1990s now account for more than 50% of outbound travel spending. The new generation of travelers, known as Gen-z, is accustomed to digital life and booking travel online. They prefer to travel freely and independently and make reservations through Weixin and mobile apps.
Tongcheng Travel has launched a series of products and services suitable for overseas Chinese travelers and overseas Chinese. To satisfy the demand of young travelers looking for “unique” and “exploratory” trips, Tongcheng Travel has offered customized packages for Jay Chou’s “Carnival World Tour 2023” in Bangkok. These packages bundle accommodations, airport transfers, and limo and concert tickets into a one-stop concert travel experience.
Currently, Tongcheng Travel offers online accommodation booking services for approximately 390,000 hotels and alternative accommodation options in over 380 cities in China through multiple channels such as its mobile app, Weixin-based mini-program and its website. It also covers around 790,000 hotels and alternative accommodations in more than 10,000 overseas destinations.
Hashtag: #TongchengTravel
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