China's top 20 tourism groups' total revenue exceeded 1 trillion yuan ($145.3 billion) for the first time since 2009, increasing 40 percent year-on-year, said a report released Wednesday during the 2016 Tourism Development Forum in Dongguan, South China's Guangdong Province.
The top 20 tourism groups include e-tourism giant Ctrip, China Tourism Group and HNA Tourism Group, according to the report.
In general, domestic tourism groups all saw strong revenue growth. China Tourism Group's sales had exceeded 100 billion yuan as of November this year, while those of HNA Tourism Group had surpassed 180 billion yuan.
Ctrip has forecast its annual transactions would reach 1.2 trillion yuan by 2020, media reports said.
Mergers, acquisitions and online-and-offline resource integration have mainly contributed to the constant and rapid growth of these groups, Beijing Business Today reported Wednesday.
Many promising tourism groups are growing fast, thanks to the increasing openness of the industry, according to the report.
Online travel agent Tuniu Corp's revenue was 10 billion yuan to 20 billion yuan by November this year and Disneyland's branch in China reported revenue of more than 30 billion yuan during the same period, media reports said.
