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Chinese Travellers The Most Extravagant Shoppers
Spending 48 billion USD overseas in 2010

In spite of the continuing impacts of international financial crisis and natural calamities, Chinese tourism economy achieved a sound and fast growth in 2010. The domestic, inbound, and outbound travel market all had an impressive growth. Chinese outbound tourists flow reached 57.4 million in 2010, with an increase of 20% from the previous year. Expenditure on outbound travel reached 48 billion USD.

To satisfy the very high demand for shopping among almost all Chinese travellers abroad World Travel Online is enhancing its successful campaign called "Shopping while Travelling" to provide Chinese visitors and the outbound travel trade with the most comprehensive and up to date information about shopping abroad from brand names to shop locations as well as Duty Free and Global Refund facilities.

With the explosive growth in outbound travel from mainland China, travel retailers and suppliers are working overtime to understand the spending power and product and brand preferences of this important travel group. AC Nielsen and the Tax Free World Association (TFWA) conducted the first ever study for the industry, cataloguing spending levels, shopping venues of choice for travellers, penetration rates in airport stores, product and brand preferences, gifting habits and other key drivers behind travel spending. See the details of the study please click here

Meanwhile China is emerging as a leader in world tourism, with the flow of tourists both in and out of the vast country increasing at a spectacular rate. It already dominates tourism in Asia¡ªas the most popular destination and the main source of visitors to other countries in the region¡ªbut its impact is now also being felt much further afield. The Economist Intelligence Unit (EIU) forecasts that the number of outbound travellers will hit 100m by 2015. 

Western European and Northern American countries are particularly keen to make the most of their new status and welcome Chinese. It is not only the increasing volume of Chinese tourists that make them attractive, but their spending habits. According to a survey by Goldman Sachs Global Investment Research, an independent market research company, Chinese spend twice as much when travelling abroad than they do when at home. China¡¯s overseas tourists spent some US$ 48bn in 2010 according to report released by China Tourism Academy predicts this to rise to US$ 55bn within 2011. Stronger purchasing power and the appreciation of the Renminbi helped boost overseas trips, the report noted. Tens of millions of wealthier ordinary Chinese will continue to help boost economic growth and employment in the world's major tourist destinations, said Dai Bin, Vice President of the academy.

Indeed, China has the largest amount of foreign reserves reaching three trillion which is more than Japan, Saudi Arabia and Russia combined. With Chinese government encourages its citizens to go abroad by signing ADS agreement with more than 140 countries and destinations . Not surprisingly one of the senior economists of Morgan Stanley advises travel industry world-wide "please make your establishments ready for Chinese visitors as this is a guaranteed source of business for the next 50 years or longer".

For further information or advice on how to reach the outbound travel market of China or how to benefit from this special campaign of ¡°Shopping while Traveling¡± please contact the London office of the
China Business Network on:

    TEL:+44 207 5363 888 ¡¡FAX:+44 207 9873 888 ¡¡

Source: Wrold Travel Online
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