China Outbound Tourism Market Exceeded USD 200 Bn in 2016, Informs Renub Research in Its New Report Published at MarketPublishers.com
05 Jun 2017 • by Natalie Aster
LONDON – Owing to a surge in average income and less strict tourism policy in China, today Chinese people are free to choose their tourist destination within and outside the country. As of the year 2016, the Chinese outbound tourism market outlined the USD 200 billion mark, registering a high CAGR of more than 20%.
At present, China is one of the key source countries of outbound tourists worldwide. The country is now recognized as a vital touristic hub. The Chinese outbound tourism market is set to continue following an upward trend, with the number of Chinese outbound tourists expected to more than double by 2022 if compared with figures of 2016.
China’s outbound tourism market is dominated by the holiday purpose segment, which accounted for the majority of expenditures of Chinese tourists in the past year. In the same year, Hong Kong enjoyed the highest popularity, this trend is expected to in the foreseeable future. Japan, Thailand, South Korea are also amid the popular destinations for the Chinese tourists.
New research report “China Outbound Tourism Market, Outbound Tourists Visits, Tourists Market (Spending) & Forecast” prepared by Renub Research is an all-round assessment and analysis of the market landscape. It provides a deep insight into the market performance (historical and present), covers the market dynamics and discloses relevant data on the key tourism destinations, preferences and gives statistics for Chinese tourists spending across different countries. The report highlights the major factors driving and restraining growth in the Chinese outbound tourism market as well as covers the top trends, challenges and opportunities. A detailed future outlook for the Chinese outbound tourism market is also at hand here.
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