(Xinhua via NewsEdge) China's online travel service will make 7.57 billion yuan ($1 billion) in revenues toward 2011 with annual compound growth of 43.63% in the period of 2003 to 2011, the latest research report of Analysys International showed.
The report attributed the fast growth of on-line travel service market to the gradual maturing of on-line travel service industry and the popularization of electronic tickets.
The development of new technology of various payment measures, map service, searching engine and 3G mobile internet is good for on-line travel service providers to offer new functions of service platform, provide new travel products and further increase service quality, the research firm said.
The report showed that the on-line travel service market scale reached 1.839 billion yuan ($257 million) in the first three quarters of 2007, over half of which were controlled by Ctrip.com, Mango city.com and elong. com.
The 2008 Beijing Olympic Games, Expo 2010 Shanghai and Asian Games in Guangzhou will greatly spur the development of China's travel sector, the research firm further said.
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