Chinese outbound tourists expected to reach 200 million by 2020

Published on : Saturday, July 22, 2017

Chinese outbound touristsChinese tourists’ overseas spending is expected to hit US$429b. By 2020, outbound trips by the Chinese are bound to reach 200 million, as the country’s tourism growth remains on track.

 
Although the terrorist attacks in Europe and weaker spending in the US were the top challenges in 2016, factors like extra holidays, easing travel destinations, and affinity towards other cultures motivated Chinese people to travel.

 
Chinese international tourism spend has more than tripled since the US$73 billion recorded in 2011, reaching US$261 billion in 2016. Chinese tourists are expected to continue spending overseas to reach US$429 billion in 2021. Yuan depreciation and stricter customs checks are factors weighing on overseas shopping, but as Chinese travellers become more sophisticated, shopping becomes a less important tourism driver than in the past.

 
While Chinese tourists express a stronger desire for new experiences, safety remains a key concern. 70% of respondents placed importance on safety as the most important factor influencing destination choices, followed by travel costs and sightseeing. Events such as the terrorist attacks in Europe and political instability on the Korean Peninsula greatly impacted travel decisions, with Korea especially suffering the loss in visitor numbers to other regional destinations such as Vietnam.

 
Gaming, cosmetics, luxury and online sectors are expected to benefit most from the multi-decade Chinese tourism theme. Luxury sales to Chinese tourists are estimated to reach 35% of global sales by 2020.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 03 itb-asia 2017
  • 04 Imex America 2017
  • 10 Globalwellnesssummit 2017
  • 11 AHIF 2017
  • 12 TTF17
  • 13 Frontiers Forum 2017
  • 14 bltm 2017
  • 15 leisure 17
  • 16 SKAL 17
  • 17 hospitalityqatar 17
  • 17 worldmiceday 2017
  • 18 TRAVEL-TECH-MIDDLE 2017
  • 18 worldmiceday 2017
  • 19 IITM
  • 19 TTG Incontri 2017
  • 43 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com