China Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2023 Update

China Destination Tourism Trends Insight by Type, Source Markets, Foreign Direct Investment and Future Opportunities, 2023 Update

Summary

Analysis of destination markets, infrastructure, and attractions, as well as risks and opportunities in China. This report explores the types of travelers that visit the region as well as a SWOT analysis.

Key Highlights

Domestic travel dominates China's tourist income, with approximately xx billion trips taken in 2022 (expected to rise to xx billion in 2023). Inbound tourism increased by xx% between 2009 and 2019 (i.e., pre-pandemic). China is seen as a growing destination market hub that is anticipated to attract xx million international tourists by 2027.

According to the analysis conducted by GlobalData, it is projected that group travel will experience a significant growth rate of xx% compounded annually from the year 2022 to 2027. Couples’ travel is projected to experience a significant growth rate, ranking second-highest among all four sections. It is expected to achieve an impressive compound annual growth rate (CAGR) of xx% from 2022 to 2027.

In 2019 as well as 2022, Hong Kong was the top source market for China with xx million inbound tourists. On average, travelers from Hong Kong are one of the highest spenders in terms of average spend per day on an international trip, ranking in top 10 globally according to GlobalData’s Traveler Spending Patterns database.

The resurgence of inbound business travel is anticipated, with growth numbers being visible as soon as 2023. It is forecasted to reach the pre-pandemic level by 2024 itself, once again making it the largest contributor of all inbound tourists to China. (CAGR 2023-27: 16.09%)

Scope

• This report is part of GlobalData's Destination Market Insights Series. These reports provide an in-depth analysis of a tourist destination and its key source markets, as well as an assessment of the trends and issues in the covered destination market, in this case China.

Reasons to Buy

• Obtain a clear and detailed insight into new developments in a highly popular tourist destination.
• Use data and analysis to explore future trends related to international arrivals, airlines, niche tourism, and hotel developments.
• Gain a strong understanding of the opportunities in the market, as well as the risks, to support better business decisions.