China Outbound Tourism Market and Forecast
Renub Research says The China Outbound Tourism Market is a fast growing source market for most of the destinations; it is set to bloom in the coming future and leave its mark on a wider range of destinations. The thriving pace of growth is expected to continue. With increasing average income and a less restraining tourism policy, Chinese people are able to travel within and outside of their homeland. China has grown rapidly as a major source of outbound tourists and has become a key tourist market in the world in its Report China Outbound Tourism market and Forecast. As per our analysis; China Outbound Tourism market has crossed US$ 200 Billion mark in 2016 and will further grow with a CAGR of 20.3% from 2017–2022.
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The report provides the in-depth study of the Chinese outbound tourism market and forecast; segmented by Holiday/leisure, Visit Friends and Family (VFR), Business and others by visitors’ arrivals and spending. China outbound tourism market; Hong Kong holds the highest share in terms of visitors and their expenses while visiting the country. While in terms of Chinese outbound visitor receipt; United States stands at second place.
China Approved Destination Status Countries
According to China’s National Tourism Administration, it has granted 140 countries and regions as approved destination status. Currently, Chinese citizens have a tremendous number of destination choices as they have more than 140 destinations to choose where they want to visit.
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Chinese Tourists- Nature of Spending
China continued to lead international outbound tourism not only in visiting countries but in terms of expenses also. Gift giving is a common act in the world, and when it comes to Chinese culture, they not only believe in the selection of gift item is important, but how much they spend on it, how they wrap it, and how they present it are equally important. This nature of Chinese visitors significantly influences the inbound receipt of the country where the Chinese visits.
Millennials are desirable to endeavor the cultures which are different from them and eager to explore the world, leading to structural upside in fun related experience based spending which includes sports, travel, media and eating out. Around two-thirds of current outbound travelers are millennials (15–35 years old).
The Report Studies the China Outbound Tourism Market on the basis of:
Top 10 Countries (2011–2022)
4. South Korea
5. New Zealand
9. United States
10. Hong Kong
Tourism Types (2011–2022)
• Holiday Tourists Arrivals & Market
• Visit Friends and Relatives (VFR) Arrivals & Market
• Business (MICE) Arrivals & Market
• Others Arrivals & Market
China Outbound Tourism Market is more than USD 200 Billion in 2016, to achieve this growth it has grown with a CAGR of 20.3%. As there has been an increase of average income and a less restrictive tourism policy, Chinese people are able to travel within and outside of their homeland. China has risen rapidly as a new major source of outbound tourists in the world and has become an important tourist market. By 2022, the number of Chinese outbound tourists will be more than double from the current outbound tourists’ number in 2016; signaling a revolutionary change and opportunity for the global travel industry.
Tourism Types: Holiday, Visit Friends and Relatives (VFR), Business (MICE) & Others
Holiday purpose visits are the most popular segment among all the other segments in Chinese outbound tourists. Holiday purpose segment is nearly five times bigger than its closest outbound tourism segment in 2016 and accounts for the maximum spending by the Chinese outbound tourists in this segment.
Countries Analysis: China Outbound Tourists Arrival
Hong Kong controls the highest share in 2016, and it is expected to maintain its lead position in future too. Japan, Thailand, South Korea, holds the position from 2nd to 4th (not in same chronological order) for China Outbound Tourism Market in 2016.
Countries Analysis: China Outbound Tourists Market
Hong Kong and United States holds the 1st and 2nd position in 2016. South Korea, Thailand and Japan control the position from 3rd to 5th (not in same chronological order). United States has the highest average spending.
China Outbound Tourism Market, Outbound Tourists Visits, Tourists Market (Spending) & Forecast is the 4th report published by Renub Research on China Outbound Tourism. This 293 page report with 280 Figures and 23 Tables is divided into 19 Chapters.
Chapter 1: Executive Summary
Chapter 2 to 3: Provides Tourists Number, Tourists Market, Tourists Share & Tourists Market Share (By Countries, Tourism Types) of China Outbound
Chapter 4 to 5: Talks about 10 Countries Tourists Number Share and Tourists Market Share in (Holiday, Business (MICE), VFR & Others) of China Outbound
Chapter 6 to 7: Speaks of Total Tourists Number and Total Tourists Market in (Holiday, Business (MICE), VFR & Others) of China Outbound
Chapter 8 to 17: Provides China Outbound Tourists and China Outbound Tourists Market in (Holiday, Business (MICE), VFR & Others), Average Tourists Spending in all the 10 countries individually.
Chapter 18: Studies Growth Factors for China Outbound Tourism
Chapter 19: Studies Challenges faced by China Outbound Tourism
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We recommend this report as must-read for Travel and Tour stake holders, Hotel Industry, Tourism Ministry, Consulting firms, Private Equity firms, Venture Capital firms etc.
Table of Contents:
1. Executive Summary
2. China Outbound Tourists, Tourists Share (%) & Forecast
3. China Outbound Tourists Market, Tourists Market Share (%) & Forecast
4. Countries (%): China Outbound Tourists Share & Forecast
5. Countries (%): China Outbound Tourists Market (Spending) Share
6. Tourism Types — China Outbound Tourists & Forecast
7. Tourism Types — China Outbound Tourists Market (Spending) & Forecast
8. Australia — China Outbound Tourists Visits, Market (Spending) & Forecast
9. Canada — China Outbound Tourists Visits, Market (Spending) & Forecast
10. Japan — China Outbound Tourists Visits, Market (Spending) & Forecast
11. South Korea — China Outbound Tourists Visits, Market (Spending) & Forecast
12. New Zealand — China Outbound Tourists Visits, Market (Spending) & Forecast
13. Singapore — China Outbound Tourists Visits, Market (Spending) & Forecast
14. Taiwan — China Outbound Tourists Visits, Market (Spending) & Forecast
15. Thailand — China Outbound Tourists Visits, Market (Spending) & Forecast
16. United States — China Outbound Tourists Visits, Market (Spending) & Forecast
17. Hong Kong — China Outbound Tourists Visits, Market (Spending) & Forecast
18. China Outbound Tourism: Growth Drivers
19. Challenges in China Outbound Tourism