39 travel agencies go out of business

GUANGZHOU: Thirty-nine small travel agencies here have shut down due to the financial crisis, local media said yesterday.

The Guangzhou-based New Express Daily said the travel agencies cannot afford the high costs of operation, and that there has been a fall in the number of people traveling because of the economic recession.

Only larger agencies, such as China Travel Services, GZL, and Nanhu Travel, can survive, the report said.