SINGAPORE, Sept. 19, 2019 (GLOBE NEWSWIRE) -- Jane Sun, CEO of Ctrip.com, International Ltd. today spoke at the Milken Institute Asia Summit 2019, where she expressed optimism for continued growth in the Chinese tourism economy, and offered her company’s resources to international partners looking to enter the Chinese market.
Ms. Sun was joined by a panel of China hands and accomplished investors, including SupChina CEO Anla Cheng, Clearwater Funds Co-Founder Robert Petty, Fitch Ratings Senior Director Grace Wu, and CITIC Capital CEO Yishen Zhang.
The panel's discussion was primarily concerned with the future of the Chinese investment environment, and the question of whether growth could slow as a result of trade tensions.
Ms. Sun said that she is confident in the overwhelmingly positive outlook for the tourism sector. “The Chinese tourism industry continues to experience constant, exponential growth,” she said. “Last year, we sold 700 million high speed railway tickets, 350 million airplane tickets, and 350 million hotel rooms.”
External indicators, too, point to sustained growth for the tourism industry. According to UNWTO statistics, in 2018, 150 million Chinese travellers went abroad, contributing USD $250 billion to the global economy. These figures have grown exponentially over the past two decades, and will continue to do so, said Sun, as 66 million households join the middle class and passport ownership doubles over the next decade.
But it’s not just the travel industry that will reap the benefits of a growing middle class, said Ms. Sun. "With growth, more and more foreign investors are going to want to be a part of this booming economy, ” said Sun. As a company based in China with a global vision, Ms. Sun said that in the same way Ctrip has benefited from forging partnerships globally, her company would be well-placed and willing to offer its assistance to new entrants to the Chinese market. “Openness, whether for a company or a country, enables us to serve our customers better. Locals know the market best, and we welcome global firms to access our platform of 300 million registered users, so that we can all become stronger, together.”
Against the backdrop of intermittent unrest and international tensions, Ms. Sun highlighted the role that companies like hers have to play in helping to break down barriers to trade, exchange and investment, and deepening understandings between nations. “The United States, as well as Australia, Italy, the UK, France, Germany and Spain are among the top destinations for Chinese travellers,” she said. “Travel is such a great way to bring people from different countries and backgrounds together, to educate one another, breakdown barriers, and avoid misunderstandings. I believe that it is our duty to enable as many people as possible to have this opportunity.”
As Ctrip continues to expand its reach both domestically and abroad, the company looks forward to forging meaningful partnerships, to better serve its hundreds of millions of customers in more ways than ever before.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. It is the largest online consolidator of accommodations and transportation tickets in China in terms of transaction volume. Ctrip enables business and leisure travelers to make informed and cost-effective bookings by aggregating comprehensive travel related information and offering its services through an advanced transaction and service platform consisting of its mobile apps, Internet websites and centralized, toll-free, 24-hour customer service center. Ctrip also helps customers book vacation packages and guided tours. In addition, through its corporate travel management services, Ctrip helps corporate clients effectively manage their travel requirements. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China.
For further information, please contact:
Ctrip.com International, ltd.
Tel: (+86) 21 3406 4880 ext 196455
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