You've successfully copied this link.

Chinese tourists to spend US$283 billion overseas by 2024

By Juwai, 17 June 2014
Chinese Tourists Spend 283 billion

As wealth levels continue to rise in China, more Chinese globetrotters are venturing out – including a burgeoning number of middle-class Chinese.1

According to the world tourism council, Chinese travellers are expected to spend US$283 billion (1.77 trillion RMB) overseas by 2024.1

In 2013, 97 million Chinese travelled internationally2 – of which more than 1.8 million went to the US alone.3 News headlines recently highlighted what’s deemed as the largest Chinese tour group – over 6,000 passengers landed in Los Angeles, arriving on a total of 70 flights.4

France welcomed 1.4 million Chinese visitors last year, many of which were wine connoisseurs looking to sample not only excellent wines, but also the luxurious vineyard chateau experience.7 Some wealthy Chinese visitors obviously arrived with wine investments in mind – Chinese-owned vineyards in Bordeaux leapt from 3 to 83 in the past 5 years.8

Down under, a record 748,200 Chinese tourists visited Australia between February 2013 – 2014.5 Australia’s sunny blue skies and beautiful natural bounty is a major drawcard.

“Just being outdoors with blue sky is crucially important to Chinese tourists,” says Don Morries, Chairman of Tourism Thinktank consultancy.6

South Africa is another up-and-coming hotspot, with its alluring safari experience and diamond shopping. South Africa received 154,000 Chinese visitors in 2013 – showcasing an average growth of 45.5% per year in the last 5 years.9

Closer to home, Taiwan is experiencing an explosion in Chinese tourism, on track to replace Hong Kong as the choice destination.10 Independent Chinese travellers to Taiwan tripled to 522,443 in 2013.9

Furthermore, 95% of Chinese tourists visiting Taiwan in 2013 want to make a return trip, and more than half plan to revisit in the coming year.11 Mandarin Oriental has even finally opened a hotel in Taipei – with Mainland Chinese expected to account for over 50% of guests.12

After China’s many years of restrictions on personal leisure travel, Chinese are now making up for lost time.

Although 70% of Chinese tourists currently prefer tour groups, wealthier and younger independent travellers – with an annual growth of 60% – are slated to be the biggest segment to woo within the coming 10 years.13

With the Chinese’ penchant for property hunting while travelling on holidays, real estate agents around the world had better sit up and take notice of this growing trend!

 

 

Sources: 1. South China Morning Post; 2. China National Tourism Administration; 3. US Commerce Department; 4. South China Morning Post; 5. ABC News; 6. Wall Street Journal; 7. South China Morning Post; 8. Bordeaux Chamber of Commerce; 9. South African Tourism; 10. South China Morning Post; 11. Nielsen Survey; 12. South China Morning Post; 13. Travelzoo Asia Pacific