Chinese travel platform Trip.com has reported a 20% increase in outbound hotel and flight reservations in 3Q24 when compared with the same period in 2019, reflecting “increasing consumer confidence and heightened travel sentiment” according to the company’s executive chairman.
“During the third quarter of 2024, both domestic and international travel exhibited robust growth,” said James Liang, with Trip.com recording a 16% year-on-year increase in revenue to RMB15.9 billion (US$2.3 billion), driven by stronger travel demand.
“With increasing consumer confidence and heightened travel sentiment, we are optimistic about the continued growth of the travel industry. Additionally, we are confident that the AI-driven technological revolution will play a pivotal role in shaping the future of the global travel industry.”
The 3Q24 results included accommodation reservation revenue of RMB6.8 billion (US$969 million), up 22% over the same period in 2023, and a 5% increase in transportation revenue to RMB5.7 billion (US$805 million). Packaged-tour revenue rose 17% to RMB1.6 billion (US$222 million).
Net income attributable to shareholders also grew by 48% to RMB6.8 billion (US$962 million).
“We are delighted to witness the resilience of the travel market,” said Trip.com CEO Jane Sun. “Through our hard work, we are proud to create new job opportunities for young people and bring new business volume to our partners in the travel industry.
“Travel is a catalyst for economic growth, a bridge to understanding, and a pathway to a peaceful world. We will continue to offer excellent service, drive business for our partners, and introduce China to the world through travel.”
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