mercredi 15 février 2017

Chinese outbound traveller: a huge booming market

Until 2013, Hong Kong was the preferred destination for outgoing tourists from China, due to its cultural similarity, travel costs and accessibility through distance travel. On top of that, Hong Kong offered a shopping paradise, and that was a strong motivator for Chinese tourists at that time. But since 2014, a growing number of Chinese tourists exit for other destinations that experience historical and cultural experiences, as well as shopping.

At the beginning of November 2015, the top five destinations for Chinese travelers were South Korea, Thailand (263%), Hong Kong (%), Japan (+ 157%) and Taiwan (+ 54%).

Europe remains the most popular destination for Chinese traveling outside Asia, showing a 97 percent increase in the number of air visits and overnight stays over the past four years. Followed by North America (+ 151%) and the Middle East (+ 177%). Africa remains the least visited destination by Chinese tourists - but with signs that this could change, as visits have increased by 306 percent of the increase since 2011. Laurens van den Oever, Global Head of Travel and Hospitality Research at GfK, commented: "Outbound tourists in China remain strategic in Hong Kong and their businesses - but other destinations are jumping ahead to win Favors Destinations such as Hong Kong need compensation for the new breed of young independent travelers, in order to understand how to better attract and capitalize on the growth of tourism output from China.

In France, Chinese tourists spend on average 40% of their budget once there in shopping. Expenditure exploded with a 40%-increase between 2011 and 2012, thanks to a more favorable exchange rate and higher wages.

The new whole of China: not "tourists", but "travelers"

According to GfK data, half (50%) of travelers from China are aged between 15 and 29 years - the millennium group - while more than one-third (37%) are between 30 and 44 years of age and 10 % 45 to 59 years. The size of the millennium group within China's travelers makes it a commercially attractive target audience for destinations that seek to attract Chinese tourists. This attraction is enhanced by the fact that two-thirds (66 percent) of the Chinese Millennials belong to the high-income bracket. Not only that, but their financial situation must increase as their careers progress, since September Millennials out of ten occupying executive or professional positions.
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Chinese social networks are undoubtedly the right channel; it starts to be a well-known fact given how much we have all heard about the Chinese tourist wave. According to data released by the United Nation, We are talking about 100 million Chinese tourists who have spent $129 billion worldwide.

Understanding the desires that motivate this section is important for travelers from China is therefore paramount.

An annual study by GfK shows that the Chinese Millennials are more ambitious than their predecessors, aged 50 and over - and more hedonistic in their willingness to spend money to indulge and have pampered. They are also slightly less price sensitive, the larger buyers of luxury goods in Asia Pacific.

Almost more important for the travel market is that the Chinese Millennials also cherish freedom more than their parents or grandparents; They want the ability to pursue their passions and go after meaningful, adventurous and exciting experiences. They are also technologically smart with almost everyone have a smartphone and are heavily involved in sharing experiences on the social media platform.

For destinations that seek to attract this lucrative group, then, the ideal approach is to approach it not as tourists but as independent travelers who respond to opportunities to plan personalized travel.

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