China Tourism Source Market Insight, 2022 Update

China Tourism Source Market Insight, 2022 Update

Summary

GlobalData’s China Tourism Source Market Insight, 2022 Update report provides a thorough insight into China’s domestic and outbound tourism market. The report looks at the profiles of Chinese tourists and summarizes the key reasons that they travel. The report offers an in-depth analysis of traveler flows, spending patterns, main destination markets and current and future opportunities for tourism businesses seeking to tap into the Chinese outbound travel market.

Key Highlights

• Prior to COVID-19, Chinese outbound tourism had grown to become the biggest tourist market in the world, when measured by trips and expenditure. The number of outbound tourists declined by 83.3% YoY from 2019 to 2020 to 27.7 million international departures as Chinese authorities chose a zero-tolerance policy to keep COVID-19 out of the country by limiting international travel.
• Going forward, outbound travel is set to reach 175.4 million trips by 2025 to exceed pre-pandemic levels by 2024, according to GlobalData forecasts (CAGR 2022-25: 7.3%).
• In 2021, the top international destinations for Chinese travelers were Macao (China SAR), Hong Kong (China SAR), Thailand, Japan and Vietnam.
• According to GlobalData’s Q3 2021 Consumer Survey, Chinese travelers typically enjoy sun and beach holidays (71%), city breaks (68%), gastronomy (62%) and cultural holidays (48%).
• In 2020, domestic tourists declined by 43.0% YoY from 3.1 billion in 2019 to 1.8 billion in 2020 as COVID-19 swept across China bringing with it national lockdowns and stay at home orders. While this figure increased by 41.8% YoY to 2.5 billion in 2021, domestic recovery is still susceptible to public-health setbacks and temporary travel disruption as the government responds to COVID-19 outbreaks.
• Defying the global travel trends, affordability and accessibility are not key factors influencing Chinese holiday destination choices.
• In 2019, total outbound expenditure reached $326.5 billion, following rapid growth from just $53.0 billion a decade earlier in 2009 (CAGR 2016-19: 3.0%). As COVID-19 limited international travel, total outbound tourism expenditure declined 83.7% YoY to $53.1 billion in 2020. Nevertheless, total outbound expenditure is projected to reach 312.3 billion by 2025, according to GlobalData forecasts.

• This report is part of GlobalData's Source Market Insights Series. This report provides an in-depth analysis of traveler flows, spending patterns, main destination markets, as well as current and future opportunities for tourism businesses seeking to tap into the Chinese outbound travel market.

• This report provides clear insight into developments in China's domestic and outbound tourism markets.
• The report uses data and analysis to discuss future trends related to domestic trips, international departures, traveler spending, and main destination markets.
• The report explores the different profiles of Chinese tourists and the reasons that they travel, hence providing an insight into the trends in different segments of the market.
• The reader gains a strong understanding of the opportunities in the country, as well as the risks, to support better business decisions
• This report examines the impact of COVID-19 on Chinese outbound and domestic tourism.

Companies Mentioned

Trip.com
Fliggy
Tujia
XiaoZhu
Weibo
WeChat
Douyin
Baidu
Airbnb