(Yicai Global) Nov. 8 -- China's tourism sector will benefit from the China International Import Expo in Shanghai over a long period of time, according to the chief executive of Booking Holdings, an international online travel agency.
Booking Holdings already has capital cooperation with Chinese travel services provider Ctrip and ride-hailer Didi Chuxing, Glenn D. Fogel told Yicai Global. The US-based company also will have long-term investment plans for the Chinese market, he said.
Events such as the CIIE, which promotes international trade, will boost demand for hotel accommodation and transportation, ensuring the long-term development of the country's tourism, said Fogel, who was yesterday attending the fifth World Internet Conference in the Chinese city of Wuzhen.
Shanghai received a total of 8.4 million international visitors in 2017, an increase of 2.2 percent over the previous year, according to data made available by the Shanghai Municipal Tourism Administration. The number of domestic tourists rose 7.5 percent to 318.5 million. People booking through Ctrip for travel to Shanghai saw a jump of 87 percent on Nov. 5, the first day of the CIIE, Ctrip's Big Data shows.
Booking Holdings will increase its investment in China, Fogel said. It also shares housing resources with Ctrip and Meituan, China's biggest on-demand services provider, and services with Didi. The firm cooperates with online travel agencies despite their competitive relationship because of the huge market potential, Fogel added. He said Booking will pay more attention to localization strategies in the future.
Booking will also look at business opportunities during the upcoming Double Eleven promotion this month and introduce more localized products and services, and hopes to reach more Chinese consumers through the shopping bonanza and improve its brand image.