 Tourism is set to change radically in the next 10 years as tourism in China continues to grow in leaps and bounds.
According to the World Travel & Tourism Council (WTTC), global tourism will continue to grow at a solid pace of 4.4% per annum accounting for an estimate of US$15 trillion by 2018. With the economic development within China, Chinese Tourism will see that the country pounce from fourth to second position in 2018 and consume more Travel & Tourism Products and Services four-fold by the same period. Growth figure is estimated at RMB2,465 billion which equates to an impressive annual growth rate of 8.9% for China. The impact of strong Chinese Tourism is believed tohave a positive overall effects on the World Tourism Industry as it amply offsets the weak performance from mature markets such as the United States and Europe.
Future inbound and outbound tourism will increasingly look eastwards as China emerges as a key player in global travel and tourism. China’s unique tourism resources and its increasingly affluent, outward-looking population presents a host of business opportunities to the global tourism market. |
