China Outbound Tourism Market Becomes Fastest Growing Tourism Sectors in World

Published on : Friday, November 8, 2013

The China outbound tourism market has become one of the best ever-growing tourism sectors in the world. A booming economy, mixed with an epidemic rise in the number of millionaires and a quickly expanding middle class, has ignited a desire among the Chinese population to explore the world.

 
By 2018, the number of Chinese outbound tourists will be more than double from the existing outbound tourists’ number in 2012; signaling a transformational change and opportunity for the global travel industry. Holiday purpose visits are the most popular segment among all the other segments in Chinese outbound tourists. The holiday purpose segment is five times bigger than its closest outbound tourism segment in 2012.

 
In the Chinese outbound tourist arrivals, Hong Kong holds the highest share in 2012, and it is expected to maintain its position in coming years as well. In China outbound tourists, spending in Hong Kong and the United States occupies the first and second position in 2012. Taiwan, Korea, and Australia are holding the 3rd, 4th and 5th spots respectively.

 
The standard spending of Chinese outbound tourists in United States is the highest followed by Australia as its second most admired destination in 2012. Holiday segment accounts for the maximum spending by the Chinese outbound tourists. The report provides a comprehensive assessment of the fast-evolving, high-growth China Outbound Tourism Industry.

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