According to the latest research study, China’s outbound tourism market is expected to reach USD 279 billion by 2031, according to the latest report for 2023, growing at a CAGR of 12.5% between 2023 and 2031.
(TRAVPR.COM) INDIA - August 21st, 2023 - DPI Research has published a new research report titled "China Outbound Tourism Market Size, Share, Emerging Trends, Current Analysis, Growth, Demand, Opportunity, and Forecast 2023 – 2031"
” in its research database. According to the latest research study, China’s outbound tourism market is expected to reach USD 279 billion by 2031, according to the latest report for 2023, growing at a CAGR of 12.5% between 2023 and 2031.
The report analyses China’s outbound tourism market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period.
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This latest market research report for 2023 provides an in-depth analysis of the China outbound tourism market, focusing on current market trends, market sizes, recent developments and forecasts to 2031.
The report uses data and analysis to discuss potential lucrative opportunities, current and future trends related to China’s outbound tourism surge, spending, the purpose of visits, and main destination markets. Furthermore, this report uses a country-focused analysis to explore the China’s outbound tourism market. A detailed country-wise analysis of the market is provided, covering a total of 26 nations. The report offers a comprehensive analysis of the drivers, restraints, opportunities, and challenges of the China outbound tourism market.
Key Factors Propelling the Growth in China Outbound Tourism Market
Rising Disposable Income: Increasing levels of disposable income among the Chinese population have led to greater spending on leisure activities, including travel. As people’s income levels rise, they often seek out experiences like international travel.
Easing of Travel Restrictions: The Chinese government has gradually relaxed travel restrictions, making it easier for citizens to obtain passports and visas for many countries. This has opened up new travel opportunities for Chinese tourists.
Growing Middle Class: The expanding middle class in China has contributed significantly to the growth of outbound tourism. With more people achieving higher income levels, more individuals and families are able to afford overseas travel.
Interest in New Experiences: Chinese travelers have shown a growing interest in experiencing new cultures, trying different cuisines, and exploring unique destinations. This curiosity has driven them to venture beyond domestic tourism and explore international destinations.
Development of Tourism Infrastructure: Many countries have recognized the potential of the Chinese tourism market and have invested in infrastructure to cater to these travelers. This includes facilities that accommodate Chinese language, food preferences, and cultural expectations.
Social Media and Peer Influence: The role of social media platforms like WeChat, Weibo, and travel review sites has played a significant role in encouraging outbound travel. Sharing travel experiences and recommendations on these platforms has fueled a desire for international exploration.
Education and Business Travel: Increased participation in international education programs and business activities has led to a rise in outbound student and business travel. Students studying abroad and business professionals attending conferences or conducting business internationally contribute to the outbound tourism market.
Government Initiatives: The Chinese government has encouraged outbound tourism as part of its economic development strategies. Initiatives such as the “Belt and Road Initiative” have facilitated travel between China and other countries, boosting tourism.
Air Travel Accessibility: The expansion of air travel routes and the presence of numerous international airlines have made it more convenient and affordable for Chinese travelers to access international destinations.
Online Travel Services: The growth of online travel agencies and platforms in China has made it easier for travelers to plan and book trips abroad. These platforms offer convenience, price comparisons, and personalized travel options.
Preference for Luxury and Quality: Chinese tourists are often associated with a preference for luxury and high-quality experiences. This has led them to seek out destinations known for luxury shopping, high-end accommodation, and upscale experiences.
The Report Analyses the Market Based on Countries and Presents the Forecast in Terms of Value and Volume for the Next Eight Years. The Top 26 Countries Included in the Report are:
The United States
Canada
Dubai
Hong Kong
Macau
Philippines
Thailand
Vietnam
Malaysia
Indonesia
Japan
Singapore
Cambodia
Korea
Taiwan
India
Spain
France
Germany
Italy
Turkey
The United Kingdom
Australia
New Zealand
Nepal
Sri Lanka
This Well-Versed and Comprehensive China Outbound Tourism Market Research Report 2023 Delivers:
Comprehensive Research Methodology of the China Outbound Tourism Market
Detailed and Extensive Market Overview with Key Analyst Insights
Insights about Market Determinants that are stimulating the China Outbound Tourism Market
To Analyze the Historical Growth in the Market Size of the China Outbound Tourism from 2015 to 2022
To Estimate and Forecast the Market Size of the China Outbound Tourism Market from 2023 to 2031 and Growth Rate until 2031
The Market Size of the China Outbound Tourism with Eight Years Forecast
Provides Comprehensive Insights on the Latest Chinese Outbound Tourists Going Abroad with Eight Years Forecast
Detailed Market Share Assessment of the China Outbound Tourism Market with Eight Years Forecast
Includes a Detailed Analysis of the China Outbound Tourism Spending in the Top 26 Most-Visited Foreign Countries
Detailed Insights of the China Outbound Tourists Going to the Top 26 Most-Visited Foreign Countries
Delivers a Complete Overview of the Chinese Tourists Purpose of Visits (Holiday, Visit Friends / Relatives, Business and Others) to the Top 26 Most-Visited Foreign Countries
Delivers an In-Depth Analysis of Evolving Market Trends, Drivers, and Restraints of the China Outbound Tourism Market
The Report Helps Answer the Following Questions:
What is the current size of the overall China outbound tourism market?
How much will this market be worth from 2023 to 2031?
How many outbound tourists are there in China?
Which foreign country is best for Chinese people to travel?
What are the top outbound destinations from China?
What are Chinese outbound tourism trends?
How many Overall Chinese tourists visit globally?
Which country has the highest tourists visit by the Chinese people?
What are the market shares of the China outbound tourism visitation and market?
What is the main purpose of visits for the Chinese outbound tourists?
What are the main drivers and challenges in the China outbound tourism market?
How will the industry evolve during the forecast period 2023 – 2031?
How the rise of Chinese tourism will change the face of the World travel industry?
To what extent did Covid-19 impact China’s outbound tourism market in 2020, 2021, and 2022?
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