Research and Markets announces the addition of "China Tourism Industry 2004" to its offerings.
As a future pillar industry, China's tourism industry occupies a very significant position in the national economy. Its employment and annual revenue is among the top few of the industries in China. Due to the progressing economy, the tourism industry landscape is gradually adjusting itself, by making significant changes to the industry framework: (1) reducing market monopoly; (2) reducing state domination; (3) diversifying the government's investment functions; (4) varying investment sources.

The tourism industry mainly consists of sectors such as travel agencies, tourist attractions management and hotels. It is one of the earliest industries in China to be opened up to the world, with a more open market and relatively sufficient competition. There is little market monopoly and state domination.

After the revamp of the industry management structure, the travel industry takes a step towards greater maturity: the operating system is more applicable to the market rules, and competition intensifies. Being a capital-intensive and regional-sensitive industry, the tourism trade has a significant push-and-pull effect on the national economy. China has already drafted a preferential policy for the strategic development of e-tourism.

In recent years, investment in the tourism industry increasingly constitutes a larger proportion of the national economy, with higher market share. The tourism industry is fast emerging as China's important economic driving force. It provides a steadily increasing flow of employment opportunities. While it constitutes only a small percentage of the national employment market, it provides many indirect job opportunities. Hence, China's "10th Five-Year Plan" designates development of the tourism industry as a top priority.

In the next five years, it is forecasted that there will gradually be fewer factors which restrict the structure of tourism development. Barriers to entry into the tourism market are also expected to decrease. Positive industrial development policy will further promote tourism development. The technical standard of tourism will catch up to advanced world standards. The consumption structure will be gradually perfected. The regional structure will be more rational. The development of the tourism industry will help to develop the economy of less developed areas and increase employment opportunities.

China's travel demand is highly flexible. It is developing rapidly along with the development of the national economy. In the coming few years, the situation of "demand outstripping supply" is expected to persist in the market. The market demand will tend to be multi-variant but structural imbalance will still exist. With the increase in GDP per capita and the development of China's western regions, there is great development potential in China's tourism industry.

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