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Unlocking the Potential of the Chinese Travel Market

Unlocking the Potential of the Chinese Travel Market
4 min.

Eric Zhuang is the Chief Strategy Officer of Dida Travel, a bed bank based in China with around 23,000 clients all around the world. As a technology-driven company, they work to improve the world in innovative ways. Eric has shared with us an exclusive insight into the travel industry, and we are pleased to now share it with you. 

“Everyone is experiencing very trying times nowadays, but we have been very optimistic about the things happening in the past decades.”

The Chinese travel market, like the rest of the world, is facing quiet trying times during COVID. Luckily, within the past two decades, China has managed to maintain a double-digit growth rate. Domestic travel is the majority of travel in China, and there is a lot of potential for both inbound and outbound travel.

During Eric and Dor’s conversation, Eric brings up the astonishing fact that less than 10% of Chinese citizens own passports. This is a small number for a country with so much productivity – but this small number shows how much potential growth is still to come. 

“Even out of the people who own a passport, very few have had the opportunity to travel around. The potential is huge here, and the spending power is very big.” 

Dida Travel’s vision is to help China turn its potential into real achievements by encouraging a higher travel rate both domestically and internationally. In the past few years, infrastructure has improved drastically. Dida Travel contributes to the success of the market by feeding an impressive inventory, encompassing travel selections from all around the globe.

“We helped the travel sector build a supply chain by using our technology”

Dida Travel is constantly looking for ways to help the travel industry improve even further. They can offer the one thing that is needed most: technology. To survive in this digital world, companies need new technologies to keep up with the fast pace environment of the world around them. 

Technology is constantly improved and modified to best solve problems. Because of this, for algorithms to be successful and productive, it is important to understand the needs of your company. These needs lay within your target audience, in Dida Travel’s case, this is Chinese Travelers

“Based on my experience in China, the younger generation, if you look at patterns and characteristics, they are quite different”

Today’s young travelers are looking for intimate, local experiences. They resort to the internet to find information and advice about where the best spots are to visit, with 40% of travelers younger than thirty obtaining their inspiration for travel from social media sites. 

To be successful in a rapidly changing industry, being flexible and adaptable is key. Social networking is taking up a large space in the travel industry. Believe it or not, Tik Tok is a huge platform that travel authorities are using to advertise their companies. Young people are a big portion of travel customers, and they are spending a lot of time scrolling through Tik Tok, as opposed to relatively no time scrolling through OTAs. Placing an advertisement here puts it directly in young people’s attention, and works well to engage new customers. 

Another upcoming platform professionals in the travel industry should be aware of and open to using is WeChat. The infrastructure on WeChat lends itself perfectly to business exchanges. It is no longer simply a messenger app, it is a full ecosystem conducive to achieving success in the business world. 

“I think China is, by far, more advanced than anywhere else in the world.”

Be sure to watch the full interview to find out more about Dida Travel and the endless opportunities in the Asian travel market.

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Mize is the leading hotel booking optimization solution in the world. With over 170 partners using our fintech products, Mize creates new extra profit for the hotel booking industry using its fully automated proprietary technology and has generated hundreds of millions of dollars in revenue across its suite of products for its partners. Mize was founded in 2016 with its headquarters in Tel Aviv and offices worldwide.

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