Indian Mood :: Travel News :: All roads lead to China on 08-08-08, but growth not as fast and wide as expected: CAPA

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All roads lead to China on 08-08-08, but growth not as fast and wide as expected: CAPA

As the Olympic Games opening ceremony commences in Beijing at eight minutes past eight o’clock on the eighth day in the eighth month of the eighth year of the new century – about as fortuitous a combination of numbers as is possible for Chinese good luck – there will be some in the airline and travel industries who sought gold and are unlikely to earn more than bronze at best.

According to a Centre for Asia Pacific Aviation (CAPA) report, air services to China by European airlines have burgeoned over the past decade, as companies saw opportunities and their governments were able to gain access to previously tightly controlled routes. But traffic growth has recently slowed, for a variety of reasons, including the difficulty of gaining visas in the lead up to the Olympic Games, as officials became highly concerned at possible security threats. More significantly for the medium term, yield is now becoming a more critical element, as fuel prices challenge long haul operations to the East and demand starts to waiver.

In the space of a decade, China has become the world's fourth largest inbound tourist market, with 132 million inbound tourists in 2007, generating the world's sixth largest receipts, of USD 42 billion in foreign exchange. By contrast of scale however, domestic tourist numbers totalled 1.6 billion, offering some indication of the long term international possibilities.

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