The rise of Chinese luxury traveler and their spending power

The rise of Chinese luxury traveler and their spending power

eTurboNews Syndication:

In 2018, 149.7 million overseas trips were created by Chinese residents, a rise of just one 1,326% from 2001 once the figure was 10.5 million. By 2030, this figure shall reach 400 million – a rise of almost 4000% – and can account for 25 % of international tourism. In accordance with Agility Research, travel may be the hottest item to invest money on on the list of affluent Chinese specifically – they’re travelling further and additional from the Hong and mainland Kong and so are traveling more luxuriously. ILTM China 2019 (Shanghai, october &ndash 31; 2 November) will once more function as forum because of their luxury travel companies to analyze these opportunities with respect to their clients.

According to the US World Tourism Organisation (UNWTO) Chinese tourists overseas spent $277.3bn in 2018, up from around $10bn in the entire year 2000. Through the same period, America’s globetrotters parted with $144.2bn.

Andy Ventris, EVENT ORGANIZER, ILTM China commented:

“The proven growth in Chinese outbound travel is for several to see there, but we also realise that just 9% of Chinese travellers (120 million people) own a passport in comparison to 40% of Americans and 76% of Britons. The prospect of further growth &ndash clearly; China’s population is 1.42bn – is staggering and ILTM China has been intended to support today’s Chinese luxury traveller by introducing their travel companies to a fresh world of international travel.”

The first edition of ILTM China in 2018 saw a demand from hosted Chinese luxury agents for Australasia, South East Asia, Northern Europe and THE UNITED STATES. Thailand, Japan, Vietnam, Sri Lanka and Singapore may also be among the top 10 destinations for Chinese tourists with the united states and Italy completing the list.

Sri Lanka has seen steady growth from the high-end Chinese market since 2013. The Hon. John Amaratunaga, Minister of Tourism for Sri Lanka that will once again be a part of ILTM China commented: “As a national country, we’ve worked to include luxurious boutique properties with personalised DMC services – in addition to bespoke shopping experiences – to attract top quality tourists from China specifically.”

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And a great many other tourist boards are proactively wooing the country’s expanding army of top quality travellers. Berlin, Canada, Greece, Vienna, Berlin, Monaco, Dubai, Italy, NY and Spain will attend ILTM China with this particular concentrate on their minds also.

Christina Freisleben of the Vienna Tourist Board commented: “Nowadays there are many direct flight connections to Vienna from Shenzhen and Guangzhou (via Urumqui) and Beijing, Hong and shanghai Kong as our city is really a premium destination with diverse and high-quality offers, especially in music and culture which have become important for the blissful luxury Chinese market. At ILTM China, we realize we will interact with travel designers and concierge services who design customized itineraries instead of packages.”

And Yannis Plexousakis, Director of the Greek National Tourism Association in China added: “Greece’s inbound tourist arrivals from China increased by 35% in 2017 and 25% again in 2018 – actually almost 400% altogether since 2012. The Chinese luxury traveller is really a key focus for all of us because of their high spending, all year round and the truth that they often times combine tourism with other investments their capability to travel all. ILTM China is vital in our online marketing strategy therefore.”

Author: George Taylor

Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.