China tourism revenue rakes in $61.7 bn in new year holidays

China's tourism industry has raked in USD 61.7 billion in revenue during the on going Chinese New Year holidays with more affluent people becoming increasingly keen to travel.

The volume marked a year-on-year increase of 15.9 percent, the China National Tourism Administration (CNTA) said.

During the seven-day holiday which ended yesterday, some 344 million visitor trips were made, up 13.8 percent from the same period last year.

The CNTA previously expected that China would see 344 million visitor trips during the holiday. Overseas travel gains increasing popularity. Some 6.15 million Chinese people travelled abroad during the holiday, up 7 percent year on year.

The travel peak fell on January 27, the first day of the seven-day holiday, which saw 50.5 million visitor trips, up 10.4 percent year on year, state-run Xinhua news agency reported today.

During the Chinese New Year holiday, hundreds of millions of people go back to their hometowns to meet their relatives and old friends, and in recent years, family travels have become increasingly common that help to drive a tourism boom across the country.

China's domestic tourism industry earned about 3.9 trillion yuan in 2016, and the country plans to raise tourism revenue to 7 trillion yuan by 2020.

China will work to develop tourism into a major driver of economic transformation and upgrading. By 2020, investment in tourism is expected to grow to 2 trillion yuan, and the sector will contribute more than 12 percent of GDP, according to a State Council five-year tourism plan (2016-2020).

The Chinese Lunar New Year, which this year is the Year of the Rooster, fell on January 28.