B&B Forum opens at Hainan BFA International Forum Center
News source:hiHainan / By Li Xiang / 10 28,2020 21:58:03 / others

On October 27, the 2020 (3rd) Boao International B&B Industry Development Forum & Industrial Resources Link Expo (or B&B Forum) opened at the BFA (Boao Forum for Asia) International Forum Center in Hainan.

Chi Fulin gives a speech at the forum.

In 2019, China’s online accommodation market sales reached a total of 20 billion yuan, up 36.5% year on year. B&B market revenue reached a total of 20.94 billion yuan, up 38.92% year on year. According to Chi Fulin, President of the China Institute for Reform and Development (CIRD), Hainan, with a huge potential for development in the B&B industry, is expected to enjoy rapid growth in  consumer demand in the service industry, becoming popular with travelers from across China. During the Golden Week Holiday, which combined China’s National Day & Mid-Autumn Festival this year, some popular guesthouses in Hainan were fully booked. Currently, the B&B industry in Hainan’s countryside areas is developing in clusters, with 480 new locally specialized guesthouses to open in Hainan by 2021.

Guests discuss the development of the B&B industry at the forum.

The development of the B&B industry is important in the implementation of China’s countryside revitalization strategy, promoting the development of rural areas and raising the income of local residents. On March 22, 2020, the Plan for the Rejuvenation of the Tourism Industry in Hainan after the Epidemic30 Measures to Rejuvenate the Tourism Industry (2020-2021) was released, touching on hotel & guesthouse accommodations as well as coconut-level countryside tourism sites.

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