Chinese consumers’ confidence continued to rise in 2016 according to Mastercard Index of Consumer Confidence. The outlook in China (80.8, +4.8) continues to increase due to improvement across all five components, with Stock Market (+9.1) contributing the most to the increase.
China millennials, also known as Generation Y or post-80s and post-90s by Chinese marketers, account for 25% of the total population and 73% of outbound tourists in China according to GfK.
Hong Kong, Macau and Taiwan were the top three inbound tourism sources in January 2016 according to China National Tourism Administration. Also read: China Travel Market Overview for Q4 2015
China had 109 million outbound tourists who spent a total amount of US$229 billion on shopping in 2015 according to GFK. China was the largest outbound country in the world.
A total number of 220 million Chinese residents will travel overseas with a total spend of $450 billion in 2025 , up from 120 million residents spending $250 billion in 2015 according to Goldman Sachs’ report.
As of 31 December 2015, the number of travel agencies in China reached 27,621 according to China National Tourism Administration.
The global duty-free market in 2015 is expected to reach US$59.8 billion, more than twice as much as it was 10 years ago according to BCG. The rise of low-cost carriers (LCC) has boosted overseas travel and increasing number of Chinese tourists has driven the rapid expansion of the Asian as well as the global market.
According to the United Nations World Tourism Organization, the number of global tourists grows 4% in the first 8 months of 2015. International tourists arrivals in Indonesia increased by 2.87%, and Chinese tourists to Indonesia grew by 20.74%.
In recent years, with the penetration of online travel applications and improvement of people’s living standard, more and more people chose to travel on holidays. The total number of outbound and inbound tourists in China increased by 9.8% to 127 million in H1 2015 according to Mafengwo.cn.
In H1 2015, the total number of outbound and inbound tourists in China reached 127 million, with an increase of 9.8% year over year according to China Tourism Academy. The number of inbound tourists reached 65.1 million, with a YoY increase of 4.5%, which exceeded outbound tourism (61.9 million visitors) by 3.2 million. After several years […]
The Hurun Report recently published The Chinese Luxury Traveler 2015, for the fourth consecutive year. The report revealed the features of Chinese traveling enthusiasts, including their decision-making process, social media habit, travel trend, sales and gifting preference.
Shoppers from China spent 18% more on Tax Free Shopping in 2014 compared to 2013 according to Global Blue.