China Outbound Tourism Market is expected to surpass the milestone of US$ 500 Billion mark by the end of year 2024. The major driving factors for china outbound tourism market are; rising disposable income of middle class population, liberal tourism policy like Approved Destination Status (ADS) policy, government support and rising number of Chinese passport holder will foster the China outbound tourism market during forecast period.China Outbound Tourism Market, Purpose of Visit (Holiday, Visit Friends & Relatives, Business, Others) Tourists Visits, Spending & Forecast published by Renub Research on China Outbound Tourism.
Over the period of time, China has grown from nobody of the travel marketplace to the world’s most powerful outbound tourism market, surpassing United States. In 2017, Chinese travelers took more than four billion domestic trips and nearly 130 million overseas trips. Considering China’s population and its growth, it is predicted that in the near future; the number of Chinese residents traveling overseas is set to grow further. China Outbound Tourism Market is projected to cross USD 500 Billion by the year 2024.
China is among the world’s fastest growing markets and so when it comes to tourists spending, Chinese travelers hold the topmost position. According to the United Nations World Tourism Organization (UNWTO) Chinese residents has spent nearly USD 300 Billion on their trips to foreign countries. It is believed that Chinese tourists spending in foreign countries will further increase in the next couple of years due to the increasing number of millionaires in the region. Additionally, more than 70 percent of the Chinese tourists who are visiting foreign countries either travels with family or their friends; as a result, these groups are the world’s maximum overseas spenders per single trip. Though Chinese tourists choose to be economical on lodging, food, and transportation but they become lavish when it comes to shopping.
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Over more than a decade of rapid development, the Chinese outbound tourism market is witnessing more Chinese travelers who are sophisticated, independent and eager to go out for a new experience while earlier Chinese travelers were inexperienced and stuck to the places which make them travel efficiently, i.e. Chinese tourists stuck to well-known sites only. But now, it is changing. Today, Chinese outbound tourists consider travel as an important way to improve their lifestyle, business and above all to experience authenticity and nature.
Chinese outbound tourists are mostly independent and are eyeing to travel across the globe. With increasing disposal income, foreign travel has become one of the key indicators of quality of life for China’s growing affluent population with more and more Chinese visiting foreign countries for their vacations. No wonder to mention that tourist boards are tumbling over themselves to woo China’s massive army of travelers. For instance: In order to attract Chinese travelers VisitBritain’s GREAT China Welcome promotional campaign was launched in 2014 to urge travel & tour industry players like hotels, travel agencies, travel-oriented retailers and other related industries to make themselves ready for the Chinese visitors by providing information in Mandarin or Cantonese and offer products & services based on Chinese tradition and market.
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China Outbound Tourism Market is maturing more rapidly because the intentions of Chinese travelers are changing from sightseeing to lifestyle experiences. Consequently, the easy harvest of low hanging fruit seems to have come to an end for many service providers and destinations. Today, Chinese travelers become more mature, more specific and more segmented, placing China on the top of the World’s Outbound Tourism Market.
Market Summary
- Holiday segment has the highest market in China Outbound Tourism Market. Rest 3 segments covered in the report are Visit Friends and Relatives (VFR), Business (MICE) & Others (Education, Medical Treatment).
- Country-wise, Hong Kong, Taiwan and South Korea are most visited by Chinese tourists due to easy accessibility, affordability and culture similarity.
- United States is having the highest China Outbound Tourism Market. The report provides the tourists market data on 10 countries Australia, Canada, Japan, South Korea, New Zealand, Singapore, Taiwan, Thailand, United States and Hong Kong.
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Key Topics Covered :
1. Market Definition
2. Research Methodology
3. Executive Summary
4. China Outbound Tourism
4.1 Tourists Numbers
4.2 Tourists Market
5. Tourists Share – China Outbound Tourism
5.1 Countries
5.2 Tourism Types – Holiday, VFR, Business & Others
5.3 By Countries – Tourism Type Share
6. Market (Spending) Share – China Outbound Tourism
6.1 Countries
6.2 Tourism Types – Holiday, VFR, Business & Others
6.3 By Countries – Tourism Types Market Share
7. Tourism Types – China Outbound Tourists Numbers
7.1 Holiday
7.2 Visit Friends & Relatives (VFR)
7.3 Business (MICE)
7.4 Others
8. Tourism Types – China Outbound Tourist Market (Spending)
8.1 Holiday
8.2 Visit Friends & Relatives (VFR)
8.3 Business (MICE)
8.4 Others
9. Australia
9.1 China Outbound Tourists Visit
9.2 Tourism Types – China Outbound Tourists Visit to Australia
9.3 China Outbound Tourists Market (Spending)
9.4 Tourism Types – China Outbound Tourists Market (Spending) in Australia
10. Canada
10.1 China Outbound Tourists Visit
10.2 Tourism Types – China Outbound Tourists Visit to Canada
10.3 China Outbound Tourists Market (Spending)
10.4 Tourism Types – China Outbound Tourists Market (Spending) in Canada
11. Japan
11.1 China Outbound Tourists Visit
11.2 Tourism Types – China Outbound Tourists Visit to Japan
11.3 China Outbound Tourists Market (Spending) in Japan
11.4 Tourism Types – China Outbound Tourists Market (Spending) in Japan
12. South Korea
12.1 China Outbound Tourists Visit
12.2 Tourism Types – China Outbound Tourists Visit to South Korea
12.3 China Outbound Tourists Market (Spending)
12.4 Tourism Types – China Outbound Tourists Market (Spending) in South Korea
13. New Zealand
13.1 China Outbound Tourists Visit
13.2 Tourism Type – China Outbound Tourists Visit to New Zealand
13.3 China Outbound Tourists Market (Spending)
13.4 Tourism Type – China Outbound Tourists Market (Spending) to New Zealand
14. Singapore
14.1 China Outbound Tourists Visit
14.2 Tourism Types – China Outbound Tourists Visit to Singapore
14.3 China Outbound Tourists Market (Spending)
14.4 Tourism Types – China Outbound Tourists Market (Spending) in Singapore
15. Taiwan
15.1 China Outbound Tourists Visit
15.2 Tourism Types – China Outbound Tourists Visit to Taiwan
15.3 China Outbound Tourists Market (Spending)
15.4 Tourism Types – China Outbound Tourists Market (Spending) in Taiwan
16. Thailand
16.1 China Outbound Tourists Visit
16.2 Tourism Types – China Outbound Tourists Visit to Thailand
16.3 China Outbound Tourists Market (Spending)
16.4 Tourism Types – China Outbound Tourists Market (Spending) in Thailand
17. United States
17.1 China Outbound Tourists Visit
17.2 Tourism Types – China Outbound Tourists Visit to United States
17.3 China Outbound Tourists Market (Spending)
17.4 Tourism Types – China Outbound Tourists Market (Spending) in United States
18. Hong Kong
18.1 China Outbound Tourists Visit
18.2 Tourism Types – China Outbound Tourists Visit to Hong Kong
18.3 China Outbound Tourists Market (Spending)
18.4 Tourism Types – China Outbound Tourists Market (Spending) in Hong Kong
19. China Outbound Tourism: Growth Drivers
19.1 China’s Approved Destination Status (ADS) Policy Stimulate Chinese Travel Abroad
19.2 GDP Growth Rate Development
19.3 Growing Middle Class and Rich Class Population in China
19.4 Strong Government Support
19.5 New National Tourism Strategy of China will Augment Outbound Tourism
19.6 Opening of China’s Outbound Travel Sector to Foreign Capitalized Tour Companies
20. Challenges in China Outbound Tourism
20.1 Challenges Chinese Travelers Face (NEW)
20.2 Restrictions and Changes
20.3 Negative Influence:
20.4 Chinese Outbound Tourists Concerns Before Departure
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