SHANGHAI, March 30, 2018 /PRNewswire/ -- Ctrip [CTRP], China's largest online travel agency, and Qunar were recently listed on BrandZ's 2018 Top 100 Most Valuable Chinese Brands. According to WPP and Kantar Millward Brown, BrandZ's Top 100 Most Valuable Chinese Brands are assessed by combining financial data with interviews from over 400,000 Chinese consumers. This year's list, recorded a new high with the total brand value of the Top 100 Chinese Brands increasing 23% to $683.9 billion USD.
Ctrip and Qunar, both under the Ctrip Group, listed in the Top 100. Ctrip ranked 34th while securing first place amongst the travel agency brands. The Ctrip brand has seen growth of 36% compared to 2017 and a brand value of $3.63 billion USD. Qunar debuted on the list, ranking 63rd with a brand value of $1.15 billion USD.
With the growth of the Chinese economy, the travel industry within China has seen tremendous growth with a positive forecast for the future. According to the China National Tourism Administration, the number of outbound tourists increased 5.1% in the first half of 2017 reaching 62 million travelers and a total of 130 million outbound trips in 2017. An estimated 115.29 billion USD was spent in 2017 with a year-on-year increase of 5%. Chinese domestic tourism also increased 2.4% to 69.5 million travelers during the first half of 2017.
BrandZ reported a 57% increase in the value of the travel agencies category, making it the second fastest-rising category after education. The report credits the growth to the purchasing power and spending priorities of China's middle class in lower tier cities. As a one-stop shop, Ctrip provides various travel services including flights, hotels, ground transportation, and tourist attractions across several platforms aiding travelers of all types.
First published in 2014, BrandZ's Top 100 Most Valuable Chinese Brands has become a standard for showing the growth of Chinese brands on a global scale.
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours and corporate travel management in China. It is the largest online consolidator of accommodations and transportation tickets in China in terms of transaction volume. Ctrip enables business and leisure travelers to make informed and cost-effective bookings by aggregating comprehensive travel related information and offering its services through an advanced transaction and service platform consisting of its mobile apps, Internet websites and centralized, toll-free, 24-hour customer service center. Ctrip also helps customers' book vacation packages and guided tours. In addition, through its corporate travel management services, Ctrip helps corporate clients effectively manage their travel requirements. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China.
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