OYO’s China unit could post a $394.9 million profit in 2022, which could then grow to $1.65 billion by 2024, the projections showed, implying a four-fold jump in net profit in two years.
China Eastern Airlines will increase its flights from three times a week to a daily frequency this winter, just as Air China begins a four times weekly service from the Chinese city in November.
Tourism is one of the few industries U.S. has enjoyed substantial advantage over China: In 2018, Chinese tourists traveling to the U.S. spent USD 30 billion more than American tourists visiting China did.
The airport, which has four runways, parking spaces for 150 airplanes and a 700,000-square-meter terminal, is expected to handle 45 million passengers by 2021 and 72 million by 2025.
Over the week, Japan increased its sales tax from 8% to 10%, but Chinese shoppers – who accounted for 37%, or USD 15.4 billion, of the spending by international visitors to the nation last year – were undeterred.
In the first three quarters of this year, Chinese travelers spent an average of RMB 649 (about USD 91.8) on their visas to India, Ctrip data showed.
Last year, Kenya received about 81,700 Chinese tourists, an increase of 4% from 2017.
International visitor arrivals in the Philippines surged past the five million mark in August this year, boding bright prospects of attaining the tourism industry targets.
