Trip.com Group has launched a tourism innovation fund worth 1 billion yuan (US$140 million) to back forward-looking projects and individuals in the travel industry. The announcement came at the company’s Global Partner Summit held on May 26 in Shanghai.

The fund aims to accelerate breakthroughs in travel services and experiences, encouraging new approaches across product development, digitalization, and international collaboration.

As part of its broader strategy, Trip.com also unveiled new partnerships with hotel groups from Thailand, Malaysia, and Indonesia. The collaborations are focused on raising service standards in Southeast Asia through joint marketing campaigns and hospitality upgrades.

To further promote China’s inbound tourism, the company is building “two-way service hubs” across 10 domestic destinations and five overseas tour operators. These hubs are expected to strengthen coordination between Chinese cities and international travel agencies, enabling smoother travel experiences in both directions.

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🔗 Source: Sina

🧠 Food for thought

1️⃣ Tourism’s rising economic importance fuels strategic investments

Trip.com’s $140 million innovation fund reflects tourism’s growing economic significance, with the sector now accounting for 10.4% of global GDP and generating over $1.1 trillion in exports worldwide 1.

China specifically is positioned to benefit substantially from this growth, ranking 4th globally in international visitors with a projected tourism industry size of $2.61 trillion by 2025 2.

The tourism sector is expected to contribute 11.4% to China’s GDP in 2025, explaining why Trip.com is strategically strengthening its international partnerships and creating service hubs 2.

These investments come as Beijing welcomed 891,000 international visitors in Q1 2025 alone, representing a 61.3% increase from the previous year, demonstrating the tangible growth that Trip.com is positioning itself to capture 3.

2️⃣ Two-way service hubs address evolving travel patterns

Trip.com’s creation of “two-way service hubs” responds directly to changing travel flows between China and international destinations, with 75% of Chinese travelers now expressing interest in traveling abroad in 2025 4.

These service hubs strategically address both inbound and outbound tourism, recognizing that most Chinese international trips are expected to remain within Asia, with Japan emerging as a particularly significant destination 4.

Trip.com’s partnerships with hotel groups from Thailand, Malaysia, and Indonesia strategically position the company in markets that align with Chinese travelers’ regional preferences while simultaneously creating channels to attract Southeast Asian visitors to China.

3️⃣ Digital transformation reshapes tourism competition

Trip.com’s innovation fund enters a highly competitive online travel marketplace where giants like Booking.com lead with the highest website traffic, followed by Tripadvisor and Airbnb 5.

With approximately 79.36 million monthly visits, Trip.com faces significant competition from platforms like Klook (22.39 million visits) and regional players that target specific market segments 6.

The investment in innovation recognizes the growing influence of social media on travel decisions, as research shows Chinese travelers—particularly younger generations—increasingly rely on platforms like Xiaohongshu for travel inspiration rather than traditional booking sites 4.

Trip.com’s strategic moves reflect the need to adapt to changing consumer behavior, as Chinese luxury travelers specifically are becoming more spontaneous in their travel planning and prioritizing social-first experiences when selecting destinations and activities 7.

Recent Trip.com developments

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