The Asian country of China is all set to overtake the United States in 2014 as the biggest overseas tourism market, which is measured by travelers. The Chinese market is expected to grow even more in the future. The latest information was stated by the industry’s largest global distribution system provider on March 8, 2014.
By 2023, citizens of China are expected to make up 20 percent of the global foreign tourists. It has also been reported that the number of Chinese families who can afford holidays abroad will double in the upcoming decade. The report mentioned that the massive economic growth in the county, as well as increasing consumer spending are encouraging the trade in tourism to outside of China.
The director of the China Tourism Academy’s international tourism development division, Jiang Yiyi said, “Chinese travelers’ passions for outbound tourism are unstoppable”. The figures showed that the number of outbound travel trips has increased 18 percent to 98 million in 2013 and can reach 114 million in 2014. Moreover, the report also mentioned that China – especially the Northeast region – will become increasingly significant to the business-travel market due to the fact that volumes in the West are most likely not going to recover until 2018.
There are also chances that China might surpass the US as the biggest market for business travel spending as early as 2015.
Photo Credits: CNBC