Domestic Tourist Spending in China to Rise at 25% CAGR through 2020, Says Chisult Insight in Its New Report Recently Added at MarketPublishers.com11 Nov 2016 • by Natalie Aster
LONDON – Nowadays, structural growth in the Chinese tourism market is propelled by the rising disposable incomes, accelerated urbanization and also demographic changes. Further impetus to the country’s tourism market growth will likely be given by favorable government policies, looser visa policies overseas and optimised infrastructure. The domestic and outbound tourism in China is predicted to see CAGRs of 11% and 31% (respectively) through 2020. The domestic tourist spending is set to grow at a 25% CAGR during the same period.
At present, the sports tourism segment of the Chinese tourism market is rising at the fastest pace. Meanwhile, medical tourism is a modern trend in the country’s market, especially for emerging middle class.
Within the framework of mounting price competition and introduction of online travel agencies (OTA), the supply chain of the Chinese travel industry is witnessing certain reforms. Today, the leading market players (including CITS, CYTS, Caissa, Utour, Songcheng, CTSHK) tend to consolidate their resources both vertically and horizontally, thereby driving robust earnings growth with high capital returns and superior margins.
One of the latest research studies by Chisult Insight titled “China Tourism Industry Research Report, 2016-2019” is a great source of valuable information on the current situation in the Chinese tourism industry.
This topical research study offers a detailed market segmentation analysis on the basis of types of tourism. Furthermore, the report draws a clear picture of the competitive landscape in the Chinese tourism market, providing vital information on the key companies. An insight into the market dynamics, including an insightful review of the major growth driving factors as well as the key market growth challenges and risks, is available in the research study. Also, an analysis of outbound and inbound tourism trends with details on trips by purpose and transport is at hand, too. In addition, a thorough analysis of the major tourist spending patterns is comprised in the study. The report gives granular future forecasts for the Chinese tourism industry up till 2019.
Many other insightful research reports by Chisult Insight can be easily found at the publisher’s page at MarketPublishers.com.