China tourism industry rakes in US$20.7 billion during the Lunar New Year

The Chinese New Year proved immensely profitable for the tourism industry in China. According to the arrival figures released by the China National Tourism Administration (CNTA); the tourism receipts increased by 16.4% year-on-year and the revenue generated touched CNY 126.4 billion (US$ 20.7 billion) during the week-long Lunar New Year.

China achieved a strong rise during the present year as huge number of tourists flocked the Chinese capital and other tourism hot spots of the country. The number of Spring Festival tourist trips reached 231 million, a 14% rise than the corresponding figures in 2013.

Not only had the inbound travel market, the outbound trend of the Chinese travelers during the Chinese New Year reached 4.7 million, up by 18.1% to the last year’s spring fiesta. However, the uprising outbound travel trend of the Chinese travelers makes the CNTA officials believe that a similar number of people traveled independently during the period taking the outbound travel figures to 9 million.

The biggest human migration of the planet, the spring festival of China with more than 3.6 billion trips is expected during the 40-day holiday period between January 16 to February 24, 2014.