Report predicts Chinese visitors traveling foreign will hit 200m by 2020

Published on : Thursday, July 20, 2017

Chinese visitors traveling foreign will hit 200m by 2020“2017 Global Tourism: Making waves in Asia” – the new report found out the main drivers behind the growth of Chinese outbound travel destinations, a theme that CLSA, Asia’s capital markets and investment group, tried to figure out ever since the year 2005. Last year was demanding though, effected by terrorist attacks in Europe and feeble spending in the US, the surge moved around the third quarter of last year, majorly controlled by the Chinese and their wealth effect, according to the report. Additional vacations, reducing travel restrictions and greater need for experiencing different cultures and activities have been identified as supplementary driving factors influencing the ambition of Chinese international tourists. Hong Kong and Macau was the top two most visited destinations according to CLSA’s proprietary survey conducted over 400 Chinese visitors followed by Thailand and Japan respectively. Political unrest caused Chinese tourist arrivals to South Korea and Taiwan to drop while Singapore, Indonesia, Malaysia, the Philippines and Australia have witnessed increase in popularity in the last three years respectively.

 

Last year in September, the Thai government eliminated Chinese zero-dollar tour group operators; Thailand has witnessed major drop in annual growth in Chinese tourist arrivals like from whopping 70 percent in 2015 to 11 percent in 2016. In the first five months of this year, growth in such arrivals dropped 5.6 percent annually. Luckily for Thailand, the country is witnessing a growth in visitors from other destinations, which in return counterbalance the drop in Chinese tourists to a huge extent.

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