With the sustainable growth of China’s economy, a gradually relaxing political climate, as well as the substantial increase in its people’s personal income, China’s tourism industry has seen unprecedented development in recent years.
Despite recent concerns over China’s economic situation, this year around 136 million international passenger journeys – the most in the world – are expected to originate in China, with an expected 234 million in 2020.
Brands are advised to revise their international marketing plans for Chinese tourists, who are projected to spend $229 billion (£156.13 billion) on retail overseas this year and $422 billion (£301.36 billion) by 2020.
“The Chinese consumer has emerged as the most powerful and motivated in the world, especially in the luxury sector,” reports Deborah Weinswig, head of the Global Retail and Technology team of Fung Business Intelligence Centre.
The typical Chinese traveller currently spends an average of $1,678 (£1,144) on retail purchases per overseas trip, the highest retail spend of any nationality. In the U.S, the average retail spend per Chinese traveller was around $2,555 (£1,741) for 2014, and in Europe was $2,548 (£1,737); significantly more than was spent in closer destinations within Asia.
Record visitors to Britain!
The number of Chinese visitors to Britain in the first half of 2015 reached a record 90,000, a 28 percent rise on the same period of 2014, figures from Visit Britain reveal.
Tourism officials are expecting the total number of Chinese visitors for this year to exceed 200,000, with that figure set to increase in subsequent years. Now is the time to invest in China!
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