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China Luxury Advisors and Fung Intelligence Group are pleased to announce the release of our third annual proprietary joint research report on Chinese Outbound Tourism Shopping Trends.
In the past 12 months, more Chinese have traveled overseas compared to the prior year and are continuing to drive retail spending at tourist destinations globally. Chinese outbound tourists will account for an estimated US$315 billion in travel revenue in 2017, according to our estimation, making them the world's biggest spenders on foreign travel. By 2021, we estimate that 192 million Chinese tourists will travel overseas, and that their total overseas spending will reach US$419 billion.
In this report, we cover the following topics:
– Travel destinations visited in the past 12 months; reasons for selecting the destination for the most recent trip
– Spending in respective areas, products purchased and outlets visited; services used at retailers and their importance
– Frequency and purpose of overseas travel
– Travel arrangements for their most recent and upcoming overseas trip; main information source used for planning their trip
– Demographics including age, gender, income and city of residence
Key Trends Observed
Chinese outbound tourists have evolved into experienced and sophisticated travelers—some 67% of surveyed tourists have traveled more than once in the past 12 months, visiting an average of 2.3 destinations. Apart from shopping, they crave a lifestyle and experiences while traveling abroad.
– Japan has emerged as the most popular destination, visited by 55% of surveyed tourists in the past 12 months, followed by Hong Kong (35%) and South Korea (27%).
– Chinese tourists from lower-tier cities have become the growth engine of outbound tourism. Based on their most recent overseas trip, survey respondents said they spent on average US$2,449, 10% higher than tourists from tier-1 cities at US$2,330. They also travel as frequently as their counterparts from tier-one cities, at an average of 1.9 times per year.
– Chinese tourists are extremely mobile-savvy, 98% of surveyed tourists used their smartphone abroad to keep in touch with others and to search for travel-related information. Some 72% of surveyed tourists use online resources such as travel websites, blogs and social media to plan their trips.
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China Luxury Advisors (CLA) is a global consultancy that advises and works collaboratively with luxury brands, tourism boards, vacation destinations and upmarket retailers on their China consumer strategy. Our personalized boutique style of China market consulting defines us and lets you transcend.