Malaysian travel tech startup, Tourplus Technology Sdn Bhd has signed a Memorandum of Understanding with ChongQing China Youth Travel Services Co Ltd to target China’s inbound tourism market.
“The partnership between Tourplus and CYTS is to prepare for Post Covid China travellers outbound coming into Malaysia and ASEAN countries. Although historically the pre-Covid market size into China is huge, to start off modestly we aim to target 100,000 Chinese travellers inbound with a target revenue of RM10 million via this partnership,” Chief Executive Officer and Founder of Tourplus, Rickson Goh said.
“In order to better seize the opportunity of China outbound tourism in the post-Covid era, and better contribute to the “Belt and Road” we seek the opportunity to cooperate with a leading Malaysian based travel tech, Tourplus,” Chen Wei Dong, Chairman of CYTS said.
“We are looking forward to more Chinese tourists travelling to Malaysia for sightseeing, culture exchange and bringing more business opportunities between the people of China and Malaysia. This also means a new start to the journey of cultural and tourism exchanges between China and Malaysia after COVID-19 pandemic,” he added.
Chongqing China Youth Travel Services (CYTS) is an international travel agency with outbound tour group qualifications issued by the National Tourism Administration.
The travel agency operates both international and domestic tourism services which includes organising foreigners, overseas Chinese, Hong Kong, Macao and Taiwan compatriots to come to China for inbound tourism.
The China Tourism Research Institute predicts that in the first half of 2021, the number of domestic tourists will reach 1.722 billion person-trips, and the domestic tourism revenue will reach 1.28 trillion yuan.
On the outbound trend, looking back at the pre covid era, the market size of Chinese visitors into Malaysia was a massive 3 million on an annual basis.