Chinese airlines will need to buy 8,090 new planes in the next 20 years, or about USD 1.3 trillion worth of aircraft, according to a report published by Boeing.
Hong Kong reported a massive decline in hotel demand at 28.8% with average occupancy for August dropping 29.8% to 63.9%; competition increased as hotel supply rose 1.5%.
Shenzhen Airport reported an increase of 9.2% in passenger traffic in August while Hong Kong airport said it handled 12.4% fewer passengers in the month compared to the same period last year.
China, once again, netted the most entries, including Beijing and Chengdu, and continues to drive M&E activity in the region.
A total of 735 million railway trips in China were made from July 1 to August 31, up 10.4% year on year, according to the China Railway Corporation.
Trustdata said that Meituan maintained the No.1 position in room nights for H1 2019, followed by traditional OTA Ctrip.
Foreign travel brands need to be deeply entrenched in this market, especially considering the fact that a Chinese consumer is using a complex, digitally inter-connected network.
Traditional travel companies must throw away the tag of being a "laggard", and rather adopt an agile mindset by incubating start-ups.
