According to an article in the China Daily, after a four year application process, Intrepid Travel has obtained wholly foreign owned enterprise (WOFE) status in China. This comes right as Intrepid has announced a partnership with TUI Travel resulting in the formation of PEAK Adventure Travel Group. These moves put Intrepid in position to become a key player in the burgeoning inbound Chinese travel market, and resulted in the China Daily proclaiming that the nation is “set to grow as a destination for adventurous Western travellers.”
“With the licence here now and the new companies we have as a part of PEAK, our business in China will grow very substantially,” said Wade. “There is an enormous amount of work to do, and an enormous amount of opportunity.”
…The new group will have more than 20 brands with combined revenue of US$374 million and 340,000 passengers globally.
The article also discussed the different expectations Western tourists have comapred to domestic travelers.
Read the entire article, China set to grow as adventure travel spot