Trip.com Group's Inbound Tourism Boom Fuels Record Revenues and Profit Surge in 2024

This year, Trip.com Group unveiled its 2024 fourth-quarter and annual financial results, showcasing a robust recovery and growth driven by inbound tourism. The group's net revenue reached RMB 127 billion for the fourth quarter and RMB 533 billion annually, with a net profit of RMB 22 billion in the fourth quarter and RMB 172 billion for the year. The four core divisions—accommodation booking, transportation ticketing, package tours, and corporate travel management—all contributed significantly to this growth, with each segment showing substantial revenue figures for both the quarter and the entire year.

The surge in cross-border travel has been noteworthy, with international hotel and airfare bookings on the Trip.com International OTA platform increasing by more than 70% year-over-year during the fourth quarter. Significantly, both quarterly and annual bookings for inbound tourism more than doubled, driven by the substantial rise in demand from visa-exempt countries.

James Liang, Co-founder and Chairman of the Trip.com Group, stated, "As consumers' desires for global exploration and cultural experiences grow, the travel market has demonstrated remarkable resilience in 2024." The company has significantly invested in AI technologies to enhance the inbound travel experience, including the introduction of AI-driven tools like "Route Planning," which helps users automatically create customized travel itineraries and daily summaries, thereby enhancing decision-making efficiency.

In 2024, the group's key focus on inbound tourism has fostered employment opportunities, especially through adaptation efforts catered to the elderly population. Trip.com offered integrated online and offline services supporting inbound travel, which included over 11,000 domestic attractions being ticketed through their overseas platform. Collaborations with 64 key inbound tourist attractions feature international ticketing machines, serving approximately 15,000 foreign tourists by the end of the year.

Trip.com Group is also committed to sustainable development and enhancing community wellbeing, contributing to employment and rural revitalization. New initiatives, such as establishing seven innovation-focused agritourism resorts, have created over 40,000 jobs in relevant sectors. They continue to promote employee satisfaction with initiatives like remote work opportunities and additional leave benefits.

Under the optimistic market outlook, Trip.com Group remains poised to offer exceptional travel experiences worldwide. CEO Jane Sun emphasized the company's commitment to driving value through innovative solutions and strengthening partnerships, aiming to contribute positively to the global economy while fostering a win-win ecosystem.