Trip.com Group participates in World Economic Forum 2023, reaffirming crucial role of travel in global economy

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Jan 17, 2023, 05:06 ET

Trip.com Group CEO attends global forum as a key travel and tourism industry leader

DAVOS, Switzerland, Jan. 17, 2023 /PRNewswire/ -- Leading online global travel service provider, Trip.com Group, is driving the ongoing recovery of travel at the prestigious World Economic Forum (WEF). Trip.com Group Chief Executive Officer, Jane Sun, attended the in-person forum held in Davos, Switzerland that brings together leaders from government, business, and civil society to address the state of the world and discuss priorities for the year ahead.

Jane Sun, CEO, Trip.com Group, in attendance at the WEF in Davos, Switzerland

At the Forum, Ms. Sun participated in the public session, China's Next Chapter, where she shared her views on the promising future of the mainland Chinese market - a top issue for the travel and tourism industry as border entry restrictions for mainland China were lifted earlier this month – as well as held meetings with counterparts and other participants. Ms. Sun spoke alongside esteemed individuals such as Kevin Rudd, President and Chief Executive Officer, Asia Society, Marcos Troyjo, President, New Development Bank (NDB) and Nicolas Aguzin, CEO, HKEX, among others.

Following the event, Ms. Sun, said: "This unique forum provides the perfect opportunity for Trip.com Group to reach out to world leaders, from across the public and private sectors, to meet and discuss the crucial role travel and tourism plays in the global economy.

"As one of the world's leading online travel service providers, we are eager to engage with industry leaders to focus on the revival of the travel and tourism industry - a critical element in the global economy – and the need to build a safer, cleaner and more inclusive environment for all."

"The global travel and tourism sector supports jobs, education, healthcare, trade and most importantly the movement of people. It is therefore crucial to develop a platform for future growth which relies on sustainability, connections and digital innovation. We are actively supporting the regrowth of global travel flows and, with the removal of border restrictions, are eager to welcome travellers to visit China."

The return of Chinese travelers is expected to be a major boost to international travel and tourism and could lead to record-breaking growth in the Asia-Pacific region.

Since the announcement of the removal of border entry restrictions on 26 December 2022, Trip.com Group has subsequently seen a huge increase in searches and the volume of travel bookings.

Flight bookings and destination search trends

On Trip.com Group's leading Chinese language platform, Ctrip, between 26 December 2022 and 5 January 2023, search interest for outbound flights from mainland China increased by 83% compared to the two-week period prior, with outbound flight bookings increasing by 59% over the same period.

On 27 December 2022, the day following the announcement, bookings for outbound flights from Singapore to mainland China jumped by 310% in just a day.

According to Ctrip data, from January 1 to January 10, 2023, cross-border air ticket searches increased by 229% year-on-year, whilst the order volume increased by 289% year-on-year. Bookings show the most popular cross-border destinations include: Macau, Hong Kong, Taiwan, Thailand, Australia, Singapore, the United States, Malaysia, the United Kingdom, and Indonesia

The forthcoming Lunar New Year will also be the first following the liberalisation of border policies, with overseas destinations welcoming the first wave of returning Chinese tourists. Analysis of Ctrip data shows overseas travel for the seven-day Lunar New Year holiday surged by 540% compared to last year's Spring Festival; and the average cost of bookings has risen by 32% year-on-year.

About Trip.com Group

Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission "to pursue the perfect trip for a better world". Find out more about Trip.com Group here: group.trip.com.

SOURCE Trip.com Group