Travel Agencies (+48%)
Leisure travel continued to drive category growth, even as business travel slowed because of government austerity measures. Infrastructure development – rapid rail and airports in lower tier cities – facilitated movement domestically.
Meanwhile, China led the world in the growth rate of overseas travel, with spending by Chinese traveling abroad increasing 16 percent through the first nine months of 2014, according to the World Tourism Organization, an agency of the UN.
Travel agencies benefited from this growth and conducted an increasing amount of business online. Ctrip completed over 80 percent of all transactions online. Ctrip’s mobile app has been downloaded over 200 million times.
The well-established travel brand CITS, with over 100 branches, focused on transforming from a traditional travel agency into more of an Internet-driven operation.