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Nation's tourist trade going places

(China Daily)
Updated: 2006-12-29 09:50

The travel service trade maintained fast growth between 2000 and 2005.

The travel service export volume reached US$29.3 billion in 2005, with an annual growth rate of 12.5 per cent between 2000 and 2005. It is the largest of China's service exports, accounting for 39.6 per cent of the country's total.
 

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China's travel service import volume, with an annual growth rate of 10.7 per cent, surged to US$21.76 billion in 2005. It is China's second-largest service import sector after the transportation industry.

China achieved a travel service trade surplus of US$7.54 billion in 2005, the largest among all the service trade sectors.

The Chinese travel industry attracted US$11.32 billion of contractualforeign direct investmentby the end of 2005.

China is expected to become the world's largest tourist destination and the world's fourth largest source of outbound travel in 2020, according to a forecast from theWorld Tourism Organization.

China had signed ADS (Approved Destination Status) agreements with 117 countries and regions by the end of 2005.