China tourism revenue forecast to soar in 2017

China's tourism revenue is set to increase again this year, according to a new forecast released by the nation’s top tourism authority on Monday.

The China National Tourism Administration’s report predicts that the number of visits by Chinese travelers in China will increase 10 percent year-on-year, reaching 4.88 billion and generating 4.4 trillion yuan ($635 billion) in revenue, an increase of 12.5 percent.

Inbound tourism is forecast to generate $126 billion in revenue, with 140 million visits, while Chinese outbound tourists are set to take 123 million trips, a 4 percent year-on-year increase.

The administration said the tourism industry’s steady growth has contributed greatly to China's economic growth. Last year, the travel and tourism trade surplus was $10.2 billion, an year-on-year increase of 11.5 percent.

In 2016, Chinese travelers went on 4.44 billion trips within China, an increase of 11 percent year-on-year that generated 3.9 trillion yuan in revenue, an increase of 14 percent.

Over the same period there were 138 million trips made by inbound tourists, generating $120 billion in revenue. Meanwhile, Chinese outbound tourists went on about 122 million trips, a 4.3 percent year-on-year increase.