Chinese outbound tourists to spend $315 billion this year
Chinese outbound tourists have evolved into experienced and sophisticated travelers—some 67% of surveyed tourists have traveled more than once last year, visiting an average of 2.3 destinations.
In the past 12 months, more Chinese have traveled overseas compared to the prior year and are continuing to drive retail spending at tourist destinations globally. Chinese outbound tourists will account for an estimated USD 315 billion in travel revenue in 2017, according to the estimation, making them the world's biggest spenders on foreign travel.
By 2021, China Luxury Advisors estimate that 192 million Chinese tourists will travel overseas and that their total overseas spending will reach USD 419 billion.
Key trends observed in the report:
- Chinese outbound tourists have evolved into experienced and sophisticated travelers—some 67% of surveyed tourists have traveled more than once in the past 12 months, visiting an average of 2.3 destinations. Apart from shopping, they crave a lifestyle and experiences while traveling abroad.
- Japan has emerged as the most popular destination, visited by 55% of surveyed tourists in the past 12 months, followed by Hong Kong (35%) and South Korea (27%).
- Chinese tourists from lower-tier cities have become the growth engine of outbound tourism. Based on their most recent overseas trip, survey respondents said they spent on average USD 2,449, 10% higher than tourists from tier-1 cities at USD 2,330. They also travel as frequently as their counterparts from tier-one cities, at an average of 1.9 times per year.
Chinese tourists are extremely mobile-savvy, 98% of surveyed tourists used their smartphone abroad to keep in touch with others and to search for travel-related information. Some 72% of surveyed tourists use online resources such as travel websites, blogs, and social media to plan their trips.
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