Chinese outbound travellers spent US$229bn in 2015
A total of 109 million Chinese travelled overseas in 2015, spending US$229 billion in destination countries, a new report has revealed.
Figures published by GfK this week show that the Chinese public’s appetite for international travel is stronger than ever, despite the headwinds currently affecting the Chinese economy. China is now by far the world’s largest global source market for international travel, both in terms of visitor numbers and spending.
Regional travel still represents the highest proportion of Chinese outbound trips. By the start of November 2015, the top five favourite destinations for Chinese travellers (counting air and overnight visits) were South Korea (representing a traveller increase of 112% since 2011), Thailand (up 263%), Hong Kong (up 37%), Japan (up 157%) and Taiwan (up 54%).
But the long-haul market is also on the rise. Europe remains the most popular destination for Chinese travelling outside of Asia, showing an increase of 97% in the last four years. This is followed by North America (up 151%) and the Middle East (up 177%). Africa remains the region least visited by Chinese tourists, but this could be changing, as visits have risen by 306% since 2011.
And this surge in global travel appears to be being driven by the so-called millennial market. According to GfK data, 50% of China’s outbound travellers are aged 15-29. A further 37% are aged 30-44 and 10% are 45-59.
The sheer size of the millennial group makes it an attractive target audience for destinations, according to GfK. And this is heightened by the fact that 66% of Chinese millennials belong to the high income bracket. Not only that, but their financial standing is expected to increase as their careers advance, since 70% of millennials hold executive or professional jobs.
GfK also noted that Chinese millennials “cherish freedom more than their parents or grandparents”, wanting to pursue “meaningful, adventurous and exciting experiences”. They are also technologically savvy, with almost every traveller owning a smartphone and being active on social media platforms.
