China Outbound Tourism Industry at a Glance
World Tourism Organization (WTO), in 2005, forecasted the Chinese Outbound Travel market to reach 100 million (measured by number of tourists) by 2020; however, recent trends suggest that the figure would reach 100 million before 2015。
2014 China Outbound Tourism Development Report pointed out that China remains the world’s largest outbound tourist market and no.1 country with highest outbound tourism consumption. No. of outbound tourists were estimated to be at 98.19 million an increase of 18.0%. Outbound tourism consumption was at US$128.7 billion dollars, a 26.8 percent increase from last year.
The China Luxury Report showed that total consumption of luxury goods overseas by Chinese consumers was US$50 billion in 2011. The figure rose to US$74 billion in 2013, much higher than the local consumption of US$28 billion.