VE Bulletin June 2019: Surging Outbound Chinese Tourism is Redefining Tourism in Asia (Download)
The VE Bulletin provides expert commentary on a trending issue that is shaping the tourism landscape and is available as a free download for all travel industry professionals.
One of the defining trends in the Asian tourism industry is the surge in outbound Chinese tourists. Over the past decade, many more Chinese have started traveling overseas – a direct consequence of rapid economic development in China that has, in turn, led to a booming middle class and a spike in disposable incomes.
According to Mastercard’s Asia Pacific 2017 Destinations Index, which measures and ranks international tourism arrivals and cross-border spending in 160 destinations worldwide, Asia Pacific saw a total of around 333 million overnight international travelers in 2017 with a total spend of US$264 billion. Almost one-fifth of this spending was accounted for by Chinese tourists.
As outbound trips from China are expected to exceed 400 million by 2030, how will this rising trend fundamentally alter tourism in Asia and what can the industry do to be ready? Find out more by downloading this free VE Bulletin.