10-16-2018 08:40 AM CET - Tourism, Cars, Traffic

China Outbound Tourism Market is expected US$ 500 Billion mark by 2024

Press release from: Renub Research

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China Outbound Tourism Market is expected to surpass the milestone of US$ 500 Billion mark by the end of year 2024. The major driving factors for china outbound tourism market are; rising disposable income of middle class population, liberal tourism policy like Approved Destination Status (ADS) policy, government support and rising number of Chinese passport holder will foster the China outbound tourism market during forecast period. China has evolved as a major source of outbound tourist in the world and has become one of the biggest tourism markets across the world with high per capita tourist expenditure.

How Countries are attracting Chinese Travelers
In order to attract more and more Chinese tourists every country is tweaking its visa policy. Such as United States begin a 10 year mutual visa validity policy with China in November 2014. As per this new policy Chinese tourist gets a valid visa to travel to USA, and this visa can remain valid for a period of up to ten years. This new visa policy proved to be a game changer and it accounted for nearly 53% increase in Chinese visa application in the first year of the program compared to last year. In addition to this opening of new air routes from China to USA by both Chinese and United States airline companies further expanded traveler number to the United States.

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Tourism Types: Holiday, Visit Friends and Relatives (VFR), Business (MICE) & Others (Education, Medical Treatment)
Holiday segment is one of the most popular tourism segments among other segments of China Outbound Tourism. The other 3 segments covered in the report are Visit Friends and Relatives (VFR), Business (MICE) & Others (Education, Medical Treatment). This report provides you in-depth analysis of tourism type from various perspectives like market, visitor numbers, market share, visitor share etc by country wise.

Country Analysis: China Outbound Tourists Visits
In this reports, we have covered top 10 destinations for China outbound tourism. Hong Kong, Taiwan and South Korea is most preferred by Chinese tourist because of cultural similarity, affordability and accessibility. In this report, we have done comprehensive analysis of each country in terms of number of Chinese tourist visit, market & forecast and number of associated factors that impacted China Outbound Tourism. The ten countries studied in the report are as follow: Australia, Canada, Japan, South Korea, New Zealand, Singapore, Taiwan, Thailand, United States and Hong Kong

Country Analysis: China Outbound Tourists Market (Spending)
United States has one of the largest Tourism Receipt from China. This report covers various share analysis of China outbound tourism like china outbound visitor market share & forecast by country, China outbound tourist market share by tourism type (Holiday, VFR, MICE & Others).

China Outbound Tourism Market, Purpose of Visit (Holiday, Visit Friends & Relatives, Business, Others) Tourists Visits, Spending & Forecast published by Renub Research on China Outbound Tourism.

China Outbound Tourists Numbers and Market (Spending) - Top 10 Countries covered in this report
1. Australia
2. Canada
3. Japan
4. South Korea
5. New Zealand
6. Singapore
7. Taiwan
8. Thailand
9. United States
10. Hong Kong

Tourism Types Covered in this report
All countries have been analyzed with consideration of following key travel segments
• Holiday Tourists Arrivals & Market (Spending)
• Visit Friends and Relatives (VFR) Arrivals & Market (Spending)
• Business (MICE) Arrivals & Market (Spending)
• Others Arrivals & Market (Spending)

We recommend this report as must-read for Travel and Tour stake holders, Hotel Industry, Tourism Ministry, Consulting firms, Private Equity firms, Venture Capital firms etc.

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Renub Research is a leading Market Research and Information Analysis Company with centers at Noida India and Roswell USA. We have long-term experience especially in international Business-to-Business Researches, Surveys, Business and Consulting. Throughout the years we have acquired expertise in most market sectors, including Information Technology (IT), Telecoms, Life Sciences, Medical & Pharmaceuticals, Financial Services (Banking, Insurance, Reinsurance, M&A, etc.), Energy, Chemicals, Automotive, Retail, FMCG, Consumer Goods, Logistics, Governmental, Social, and Others.

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