Arabian Travel Market Series: GCC Source Market: China
Date Published: 19/12/2018
In less than two decades, China has grown from small travel and tourism market to the world’s most powerful outbound market, outnumbering the US’ outbound travel market. According to the United Nations World Tourism Organization (UNWTO), outbound Chinese tourists spent approx. USD 270 billion in 2017, up from USD 261 billion in 2016. To put things into perspective, collectively America’s outbound market accounted for a smaller sum of USD 123.6 billion. It is interesting to note that only 7% (approx. 99 million) of the total Chinese population possess a passport, compared to approximately 40% of Americans and 76% of British, signifying the enormous opportunity to both capitalize on the existing opportunity to maximize Chinese tourists and be a part of the Chinese growth story for a continuous flow of business from the country.