Chinese outbound tourism market booming

Published on : Thursday, November 14, 2013

downloadA very healthy economy, mixed with an exponential increase in the number of millionaires and a rapidly expanding middle class, has ignited a desire among the Chinese population to explore the world. The resultant outbound tourism market of China has become one of the fastest growing tourism sectors in the world. By 2018, the number of Chinese outbound tourists will be more than double from outbound tourists’ number in 2012; signaling a transformational change and opportunity for the global travel industry.

 
Visits for holidays are the most popular segment among all the other segments in Chinese outbound tourists. This segment is five times bigger than its closest outbound tourism segment in 2012.In Chinese outbound tourist arrivals, Hong Kong holds the highest share in 2012, and it is expected to maintain its position in years to come. Thailand, Korea, and Taiwan hold the 2nd, 3rd and 4th destinations for Chinese outbound tourism in 2012.

 
China outbound tourists’ spending in Hong Kong and United States occupied the first and second position in 2012. Taiwan, Korea and Australia are holding the third, fourth and fifth spots respectively.The average spending of Chinese outbound tourists in United States is highest followed by Australia as its second most popular destination in 2012. Holiday segment accounts for the maximum spending by the Chinese outbound tourists.

 
Renub Research report entitled “China Outbound Tourism Market – Outbound Tourists Visits, Tourists Spending & Forecast” provides a comprehensive assessment of the fast-evolving, high-growth Chinese Outbound Tourism Industry.

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