Even executives at China’s biggest online travel agency Ctrip.com International have signaled that they expect an imminent “cooldown” in the market. Right now, the slump mostly has to do with anxiety surrounding economic fears, but the numbers are not looking good for a lot of Chinese travel industry players.

In general, it doesn’t actually appear that fewer Chinese consumers are pursuing travel, but rather that overall costs for travel stakeholders appear to be on the rise. Right now, it’s just more expensive to push growth. Fortunately, the fundamentals of the Chinese travel industry are likely solid, and online travel agencies are well-placed to benefit. The market may be headed for a cooldown right now, but in the future all signs point to continued robust growth over the long-term.