The market for outbound tourism from China is expected to grow at a strong 14.1% CAGR between 2022 and 2032, with sales expected to reach US$ 184,201 million in 2022. The market’s growth is attributable to China’s travel industry’s increasing expansion. The report projects that by 2032, demand for outbound travel from China will exceed US$ 690,719 million.
China outbound market stands out for its size and quick expansion in departures and spending. Destinations worldwide are more eager to draw into this market due to the steady increase in Chinese tourists’ spending abroad. The wealthiest regions of China’s east and southeast are where most of the country’s international tourism is produced.
The leading travel destinations for Chinese visitors are neighboring nations in North- and South-East Asia and Hong Kong, Macao, and Taiwan Province of China. Chinese tourists are increasingly travelling to emerging locations.
Moreover, there is a surge in millennials traveling overseas which causes increased use of online platforms for the collection of related information as well as tour booking. China has the world’s largest population, making it the best market for outbound travel. With the economy increasing, China Outbound travel Market is set to attain new heights.
“China outbound travel market to benefit from increasing disposable income, affordable travel abroad, and growing preference for clean and scenic location trips.” Says an FMI analyst.
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Key Takeaways:
- By booking channel, the online booking segment is anticipated to hold a share of nearly ~80%.
- In terms of age group, demand in the youngsters in the age group 15-25 years and 26-35 years will continue gaining traction through 2032 due to increasing travel trends, enthusiasm to travel and rising income.
- Based on packages, China outbound travelers will continue to opt packaged deals over the normal travel deals.
- Rising trend of tourism on social media is expected to result in significant growth of China outbound travel market.
Who is winning?
Leading players in China outbound travel Market are focusing on strategic alliance with various local tour operators to diversify business service portfolio. Also market leaders are emphasising on advertisement and promotional activities to attract various tourist across the country.
The leading players in China outbound travel market
- Tuniu Corporation
- Intrepid Travel
- G Adventures
- TUI China
- China Highlights
- Exodus Travel
- The Dragon Trip
- World Expeditions
- On The Go Tours
- Contiki
- Sita World Tours
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Future Market Insights, in its new offering, provides an unbiased analysis of the China Outbound travel Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the China Outbound travel Market by Tourism Types (Business, Leisure, VFR & Others) Booking Channel (Phone Booking, Online Booking & In Person Booking) Tour Type (Independent Traveller, Package Traveller and Tour Group) Age Group (15-25 Years, 26-35 Years, 36-45 Years, 46-55 Years, 66-75 Years)- Forecast to 2017 – 2032
China Outbound travel Market by Category
By Purpose:
- Business
- Leisure
- VFR
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tour Type:
- Independent Traveler
- Tour Group
- Package Traveller
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 56-65 Years
- 66-75 Years
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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