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Key Factors Propelling the Growth in China Outbound Tourism Market 2023
China's outbound tourism market is expected to reach USD 279 billion by 2031, according to the latest report for 2023, growing at a CAGR of 12.5% between 2023 and 2031.
By: DPI Research
Rising Disposable Income: Increasing levels of disposable income among the Chinese population have led to greater spending on leisure activities, including travel. As people's income levels rise, they often seek out experiences like international travel.
Easing of Travel Restrictions:
Growing Middle Class: The expanding middle class in China has contributed significantly to the growth of outbound tourism. With more people achieving higher income levels, more individuals and families are able to afford overseas travel.
Interest in New Experiences:
Development of Tourism Infrastructure:
Social Media and Peer Influence: The role of social media platforms like WeChat, Weibo, and travel review sites has played a significant role in encouraging outbound travel. Sharing travel experiences and recommendations on these platforms has fueled a desire for international exploration.
Education and Business Travel: Increased participation in international education programs and business activities has led to a rise in outbound student and business travel. Students studying abroad and business professionals attending conferences or conducting business internationally contribute to the outbound tourism market.
Air Travel Accessibility:
Online Travel Services: The growth of online travel agencies and platforms in China has made it easier for travelers to plan and book trips abroad. These platforms offer convenience, price comparisons, and personalized travel options.
Preference for Luxury and Quality: Chinese tourists are often associated with a preference for luxury and high-quality experiences. This has led them to seek out destinations known for luxury shopping, high-end accommodation, and upscale experiences.
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