Thomas Cook China, a joint venture between Thomas Cook and Chinese investment conglomerate Fosun, is gunning for a tenfold times increase in customer numbers in the next 12 months, after serving 20,000 customers in its first year of business.
Officially launched in September 2016, Thomas Cook China said in a statement it has developed into a one-stop, full-service travel company, operating inbound, domestic and outbound tourism from offices in Shanghai and Beijing.
Thomas Cook China managing director Alessandro Dassi said: “The ambition is to make China a sizeable market for Thomas Cook Group, comparable, over time, with our more mature source markets in Europe.”
A big opportunity for newcomers such as Thomas Cook comes from the rapid change in the behaviour of Chinese travellers, who are moving away from traditional group tour tavel towards a more independent and higher quality type of travel, according to the statement.
The market, on the other hand, remains fragmented and puts a great focus on price.
“The industry is not yet keeping up with the pace of change in the behaviour of Chinese consumers. To exploit this gap we have focused on developing products that are truly unique and differentiated, leveraging Thomas Cook’s resources across key tourist destinations,” Dassi said.