by WEX Travel
Thanks in large part to Chinese president Xi Jinping’s “One Belt and One Road” economic development strategy, Chinese citizens are taking to the skies (and land and sea) in record numbers. By most accounts China has already secured its place as the largest international tourism source market in terms of market volume and spending. This is great news for every player in the global travel industry, not to mention the Chinese travelers exploring the world outside their borders. An infographic on Getting to Know Today’s Chinese Outbound Tourists, provides some need-to-know stats and facts.
Trends Likely to Continue in 2016
China is now the fastest growing tourism source market in the world with a 10% forecasted annual increase through 2018. According to Forbes, the following trends are likely to continue in the remainder of 2016:
- Double-digit growth of overall departures will benefit almost exclusively destinations beyond Hong Kong, Macau and Taiwan
- Major global tourist destinations will continue to be crowded by large groups of first-time Chinese travelers, while more experienced Chinese travelers will turn up in unexpected places, displaying a thorough knowledge of the local culture and history
- UnionPay and Alipay will become more familiar to retailers and hoteliers across the globe, while savvy Chinese tourists will increasingly carry American or European credit cards
- Chinese investors follow their customers abroad and investment in hotels and tourism infrastructure will continue to grow
Download our infographic, Getting to Know Today’s Chinese Outbound Tourists, for more information and insights.