Source Market Insights: China

Date: 2015-10

Market Insights; Source Market Insight report provides an overview of the China outbound market, analyzing market data and providing insights. This report provides a better understanding of the number of tourists departing from China, where they are staying, their spending habits and future developments.

Key Findings
-Over the past decade the Chinese economy has gone from strength to strength and is now considered by the International Monetary Fund (IMF) to be the world’s number one economy, with 7.4% GDP growth in 2014. It is also the largest outbound tourism market with over 107.8 million trips made in 2014, an increase of over 9.8% from 2013. While the emergence of China as a major tourism market has been remarkable, the days of double digit GDP growth are over, as the country’s economy stabilizes its phenomenal ascent and moves from a manufacturing powerhouse towards a more stable consumption-driven model

-The top destinations continue to be Macao and Hong Kong, which have been the most popular choices for the past decade. However, there is a new second generation of Chinese tourists who are seeking trips ‘off the beaten track’. Instead of traditional group tours more Chinese travelers are roaming the planet on self-organized tours. Tourism boards in Australia, New Zealand, and Canada are all now seeking to make their destination stand out by using celebrities to endorse their social media campaigns to Chinese consumers

-Although still popular with Chinese tourists, shopping is now less important among consumers since domestic shopping availability on top brands has increased. Instead, Chinese travelers , especially high net earners, are increasingly prioritizing experiences over luxury purchases. According to the Financial Times research service, China Confidential, Chinese travelers in the high-income demographic spent 31.1% more than they had a year earlier on entertainment and 78.6% more on other services including car rental and excursions

Canadean’s report – “Source Market Insight: China ” provides detailed information on the Chinese outbound tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

– The report provides detailed market analysis, information, and insights, including:

– Historic and forecast tourist volumes and values covering China’s outbound tourism sector

– Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as purpose of spending and top source markets.

– Detailed analysis of the market trends in China’s outbound tourism sectors.

Reasons To Buy
– Make strategic business decisions using historic and forecast market data related to the China Outbound Travel and Tourism sector

– Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities

– Direct the promotional efforts on most promising markets by identifying the key source and destination countries”

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