Beijing has moved to further open its vast and lucrative market to allow for more wholly foreign-owned companies to sell outbound travel products to Chinese consumers.
Foreign-owned tourism agencies have been active in China since 2003, but have been unable to sell outbound travel services. A change in this policy would give unprecedented foreign access to the immense Chinese overseas tourist market, and would allow foreign travel companies that meet the specified requirements to operate in China without a Chinese partner. Currently, the proposal would only open the market in Beijing; however, if approved by national authorities, similar policy shifts in other major Chinese markets like Guangdong, Shanghai, and Zhejiang may follow.
While it’s yet to be seen if a foreign-owned travel agency could dominate the travel market alongside the likes of Alibaba’s Fliggy or Ctrip, Asia’s largest travel service, it’s possible that foreign-owned newcomers could snag a small but substantial piece of this ever-increasing market.
Get the full story at Jing Travel