Rising Incomes And Internet Boost Booming Chinese Travel Market
The number of outbound trips made by Chinese travellers is seeing double-digit growth, thanks to rising disposable incomes and web bookings, reveals exclusive research unveiled today (8 April) at the WTM Vision Conference – Beijing.
Hong Kong and Macau are the most popular destinations but non-Asian countries are rising in importance, delegates have heard today.
Meanwhile, inbound tourism flows to China are forecast to grow at a 2.3% CAGR over the same period, reveals the Forecast Revisit for the Global Travel and Tourism Industry report.
Hong Kong is the largest source of arrivals, accounting for 27m, but Western European and US markets are expected to grow, Ray Li Senior Research Analyst at Euromonitor International states.
He will also reveal how rising disposable incomes are leading to a 'sharp' rise in sales of discretionary goods and services, with travel – along with cars and fashion – especially favoured.
Also, the changing role of women is driving demand for clothing, cosmetics and travel, according to Euromonitor international.
Another major factor in the Chinese travel market is the intensifying competition between China's online travel agencies, including Ctrip, Qunar and eLong.
China is the world leader for number of internet users and smartphones sold, and web giants such as Tencent and Baidu are making inroads in the online travel market, delegates at the WTM Vision Conference – Beijing heard.
Chinese hotels are performing strongly, and although China's hotel industry is dominated by budget properties, the luxury segment is expected to achieve strongest growth between 2012 and 2017.
Reed Travel Exhibition Director World Travel Market Simon Press, who opened the conference today, said: "WTM is delighted to be returning to China for its second Vision conference in the country, following the success of last year's inaugural event which took place in Shangai.
"China's influence on the global travel and tourism continues to grow. WTM has first-hand experience of this with more and more exhibitors and visitors attending the event from China, alongside a growing number of buyers targeting Chinese exhibitors."
The conference is in association with China Business Network was held in Beijing Marriott Hotel City Wall.
As well as the report from Euromonitor International, the event will feature high-calibre speakers sharing expert analysis, statistical assessment and interpretations with the industry's senior leaders.
Delegates will receive the Euromonitor International report via email free of charge after the conference.
About World Travel Market
World Travel Market, the leading global event for the travel industry, is the must-attend four-day business-to-business exhibition for the worldwide travel and tourism industry.
Almost 48,000 senior travel industry professionals, government ministers and international press, embark on ExCeL - London every November to network, negotiate and discover the latest industry opinion and trends at WTM.
WTM, now in its 34th year, is the event where the travel industry conducts and concludes its deals.
WTM 2012 generated £1,860 million of travel industry contracts, revealed independent research by Fusion Communications.
WTM is owned by the world's leading events organiser Reed Exhibitions (RE), which organises a portfolio of other travel industry events including Arabian Travel Market and International Luxury Travel Market.
In 2012, RE held more than 460 events in 36 countries bringing together more than seven million people from around the world generating billions of dollars in business.
Reed Travel Exhibitions
Reed Travel Exhibitions (RTE) is the world's leading provider of exhibitions in the travel and tourism industry. Its wide-ranging portfolio of events around the globe covers leisure travel, luxury travel, meetings, incentives and business travel, as well as golf, ski and spa travel.
The 19 events are; World Travel Market (WTM), World Travel Market Latin America (WTM Latin America), Arabian Travel Market (ATM), International French Travel Market Top Resa (IFTM), International Golf Travel Market (IGTM), International Ski Travel Market (ISTM), International Luxury Travel Market (ILTM), International Luxury Travel Market Asia (ILTM Asia), International Luxury Travel Market Americas (ILTM Americas), International Luxury Travel Market Africa (ILTM Africa), International Luxury Travel Market Japan (ILTM Japan), International Luxury Travel Market Spa (ILTM Spa), Asia-Pacific Incentives & Meetings Expo (AIME) (owned by Melbourne Convention + Visitors Bureau), Global Exhibition for Incentive, Business Travel, and Meetings (EIBTM), Gulf Incentive, Business Travel and Meetings (GIBTM), Americas Incentive, Business Travel and Meetings (AIBTM), China Incentive, Business Travel and Meetings (CIBTM), India Incentive, Business Travel and Meetings (IBTM India) and Business Travel Market.
September 2013 will see the launch of IBTM India in Mumbai, India, and another exciting launch in the ski travel sector, with International Ski Travel Market in March 2014.
RTE is a business unit of Reed Exhibitions.
About Reed Exhibitions
Reed Exhibitions is the world's leading events organizer, with over 500 events in 39 countries. In 2011 Reed brought together six million active event participants from around the world, generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organized by 33 fully staffed offices. Reed Exhibitions serves 44 industry sectors with trade and consumer events and is part of the Reed Elsevier Group plc, a world-leading publisher and information provider and a FTSE 100 company. www.reedexpo.com