In 2012, China surpassed Japan to become the largest market in Asia with $96.2 billion in travel bookings. The controlled strengthening of the Chinese Yuan against the US dollar makes growth appear slightly faster when measured on a dollar basis. By 2015, when 24% of China’s travel bookings will be transacted online, penetration will still be trailing compared to India, Japan, and Australia/New Zealand. Chinese travel companies remain highly focused on the domestic market. Because, the opportunity for growth at home remains very attractive. In 2012, OTAs’ gross bookings, including those fulfilled through call centers, represented 11% of the overall market, slightly more than their share in 2011. But, OTA growth decelerated from 49% in 2011 to 39% in 2012. Ctrip leads the OTA market in China by a huge margin, followed by eLong. Ctrip is the also third largest OTA in APAC. Get the full story at Tnooz Read also "Chinese become world’s biggest travel spenders"