Published on : Jun 23, 2017
Albany, New York, June 23, 2017: According to the report, the China outbound tourism market is gearing to report an impressive CAGR of 20.3% between 2017 and 2022. The market’s valuation in 2016 was US$200 bn. Considering the pace of growth, the outbound tourists in China are likely to double in number in the coming years. The Chinese government follows a less restrictive tourism policy, which has enabled the tourism industry to flourish in the nation. Against the backdrop of favorable tourism policies, China has become a new chief source of outbound tourism in the world and has thus emanated into an important tourism market.
Among the various nations, Hong Kong commanded over the highest share in the China outbound tourism market in 2016. Its dominance is expected to remain unaffected through the forecast period. It is also important to note that China has emerged as the leading source of outbound tourist in countries such as Japan, Russia, South Korea, Maldives, and the UK. Also as per reports, Beijing, Shanghai, Shenzhen, and Guangzhou are the four main corridors to the outbound tourism from China.
A majority of outbound tourists in China take up travel for holiday purpose visits. The report has identified holiday purpose segment as the leading segment in the market. China provides an environment conducive to making investment considerations. For a major part, the Chinese economy has traversed the global recession and showed growth at a positive rate, thus emerging as the largest economy in 2017.
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Also the nation boasts a considerably large middle class, which has a significant impact on its outbound tourism market. The rapidly emerging Chinese middle class has come in the attention of the global tourism industry. In 2012, China surpassed the US and Germany in terms of international tourism expenditure to emerge as the largest outbound travel market in the world.
Spurred by the aforementioned factors, the outbound tourism market in China will continue exhibiting an accelerated pace of gains. The report presents in-depth insights into the growth drivers and restraints leaving influence on the outbound tourism market in China. It assesses in detail the favorable policies and government regulations aiding the market’s expansion. Information thus obtained from trusted industrial sources is interspersed with relevant graphs and statistics. Overall, the report is intended at enabling stakeholders to identify lucrative prospects in the China outbound tourism market and guard them against potential challenges.
To present a comprehensive overview, it also profiles some of the leading vendors in the China outbound tourism market. Strategies they adopted over the last few years aiming growth are analyzed in great detail. Impact of these strategies on the overall market is gauged as well.
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