On February 22, Trip.com Group (NASDAQ:TCOM;HKEX: 9961) announced its unaudited financial results for the fourth quarter and full year 2023. In the fourth quarter, the company's net operating income was 10.3 billion yuan, and the net operating income for the whole year of 2023 was 44.5 billion yuan, an increase of % year-on-year.
Ice and snow tourism and the "involution" of cultural tourism in various places have kept the tourism market hot in the fourth quarter of the traditional off-season, driving the growth of Ctrip's various businesses. In the fourth quarter, Ctrip's accommodation booking revenue was 3.9 billion yuan, a year-on-year increase of 131%.The operating income of transportation ticketing was 4.1 billion yuan, a year-on-year increase of 86%;The operating income of the tourism and vacation business was 70.4 billion yuan, a year-on-year increase of 329%;The operating income of business travel management business was 63.4 billion yuan, a year-on-year increase of 129%. In the fourth quarter, Ctrip's net operating income increased by 105% year-on-year to 10.3 billion yuan.
For the full year of 2023, Ctrip's net operating income will be 44.5 billion yuan. Among them, the operating income of accommodation reservation was 17.3 billion yuan, the operating income of transportation ticketing was 18.4 billion yuan, the operating income of tourism and vacation business was 3.1 billion yuan, and the operating income of business travel management business was 2.3 billion yuan, respectively, a year-on-year increase.
Currently, Ctrip's international OTA platform is operating in 39 countries and regions in Asia, Europe and the Americas. Ctrip's leading international layout and service capabilities have enabled Ctrip to benefit from the recovery of inbound and outbound travel earlier and achieve rapid growth in its international business. In the fourth quarter, Ctrip's outbound hotel and air ticket bookings recovered to more than 80% of the same period in 2019, compared to 60% of passenger traffic in the international aviation industryCtrip's global OTA platform saw a year-on-year increase of more than 70% in total bookings.
While its performance is growing rapidly, Ctrip emphasizes high-quality development. In 2023, we will continue to increase technological innovation, and the annual product research and development expenses will reach 12.1 billion yuan, a year-on-year increase of 45%, accounting for about 27% of net operating income, providing underlying support for business innovation and continuously improving user satisfaction and service partner capabilities. At the same time, Ctrip actively takes responsibility for promoting low-carbon development of the industry, promoting employment and rural revitalization, and continues to enhance its sustainable development capabilities.
In 2023, Ctrip's user satisfaction will remain at a high level, with the NPS (Net Promoter Score) in Q4 increasing by 2% compared to Q3. Ctrip has also built 7 24-hour multilingual customer support and global SOS emergency assistance services to escort global tourists and continuously improve user satisfaction. At the same time, Ctrip helps partners in various fields, including destinations, hotels, travel agencies, stores, car rentals, and business travel customers, accelerate recovery and create incremental value.
In 2023, through refined operations, the number of airport segments in fourth- and fifth-tier cities on Ctrip's platform will increase significantly, with a year-on-year increase of 127% and an increase of 13% compared to 2019. The number of new homestay merchants in Ctrip increased by 122% year-on-year, and through professional training, traffic** and other measures, the GMV of new homestay merchants in 23 years increased by more than 3 times compared with that of new homestay merchants in 22. The number of cooperative merchants in Ctrip's travel and vacation business increased by 54% year-on-year, and the transaction value increased by more than 3 times year-on-year. Ctrip Business Travel helps corporate clients save on travel costs throughout the year35800 million yuan.
With the recovery of the industry, Ctrip has taken multiple measures to cultivate tourism talents, helping them return to the industry and sustain the sustainable development of the tourism industry. As of 2023, Ctrip has directly driven more than 100,000 employees through its own recruitment and platform-registered tour guides and customizers, and indirectly driven more than 10 million employees by providing services such as hotels, air tickets, tickets, and cars on the platform. According to the World Travel & Tourism Council**, the number of direct and indirect jobs in China's travel and tourism industry may account for 10% of the total number of jobs in 2023. Promoting employment in the tourism industry will effectively help solve the employment problem of the whole society.
The tourism industry plays an obvious role in stimulating consumption such as accommodation, catering, and shopping, and is an effective way to consolidate the achievements of rural poverty alleviation and rural revitalization. In 2023, Ctrip will open 8 new resort farms, bringing the total number to 28. These fake farms have driven an average of 40,000 yuan in per capita annual income of local employees, creating a total of 8Driven by the value of 600 million yuan, it indirectly brought 5The output value of related industrial chains increased by 800 million yuan, and more than 20,000 new jobs were created in related industries.