Since 2012, China had been the largest outbound tourism market in the world. In 2014, the total number of outbound travelers increased from 98 million to 109 million. And the China travelers’ consumption increased by 17% in former 3 quarters in 2014.
As the rapid development of China outbound tourism, more and more foreign countries attract China travelers by different policies to promote economy. During the Chinese New Year period, Japan, Russia as well as the US attracted large number of China travelers.
In 2014, the number of travelers to South Korea was 12.682 million while 44.7% of them were from China. Within 5 years, Chinese travelers to South Korea increased by 5 times from 1.724 million in 2010. The analysis of foreigners’ consumption in South Korea showed that consumption increased by 38.8% in 2014 from the same period of last year. Further, China travelers spent 6.13 trillion South Korean Won (US$5.57 billion) with an increase of 62.6% YoY in 2014.
China is poised to overtake the U.S. as the number one business travel market in the world in 2017 considering their current and estimated growth in business travel market. In 2013, 1.807 million China travelers went to the US and their total spend was US$21.115 billion. And in 2014, 2.18 million China citizens went to the US with US$ 21.1 billion in spend. The US commerce department estimated that by 2021, China travelers will be over 7.3 million in the US with US$85 billion in spend.