Chinese travelers are spending a whopping 28 per cent of their income on average on international travel, with 90s millennials being the biggest spenders, allocating 35 per cent of their income to travel, says the latest Chinese International Travel Monitor (CITM) report by Hotels.com.
The rise of the Chinese ‘more generation’ identified in the report sees Chinese travelers of all age groups traveling more often and for longer, with the number of trips and number of days per trip increasing in the past year from 3 to 4 and from 5 to 7 days, respectively.
This ‘more generation’ is providing huge economic benefits to global economies with China seeing 122 million outbound tourists in 2016 – 4 per cent more than in 2015 and a staggering 74 per cent more than in 2011 .
According to CITM, India features in the APAC bucket of popular destinations amongst Chinese travelers – with Hong Kong being the most visited country in APAC region in 2016.
While APAC is still the most popular destination (82 per cent have visited in the past 12 months), the CITM report identified that long-haul trips to Europe and America have increased in popularity. The number of Chinese travelers visiting these destinations in the past 12 months increased by 25 per cent (Europe) and 11 per cent (America) compared to the previous year.
Abhiram Chowdhry, Vice President and Managing Director Asia Pacific and Latin America for the Hotels.com brand says the potential for growth in both the number of Chinese travelers and their spending power is enormous. “Our research has identified that China outbound tourism offers huge economic benefits to many countries across the globe. It’s therefore vital that hotels cater for Chinese travelers and develop innovative hotel services that tap into their enormous spending power, while ensuring the sustainability of their businesses – and local travel industry – for the future,” he adds.
