Friday, September 22, 2023
HometravelChinese tourists to double by 2020: CLSA

Chinese tourists to double by 2020: CLSA

Chinese tourists may have made headlines last year for their embarrassing behavior but with outbound tourists projected to double over the next six years, countries are likely to welcome their renminbi with open arms.

According to a new report by CLSA, the number of mainlanders traveling abroad is expected to hit a whopping 200 million per year by 2020, double last year's figure.

As personal income levels in China grow, travel is increasingly becoming the preferred outlet for the newly monied middle class. By 2020, CLSA predicts 27 provinces will see per-capita gross domestic product spending top $8,000, up from only 10 provinces in 2012.

(Read more: China tourism boom is 'tip of the iceberg':

Asia to shine

The Asia-Pacific region stands to benefit the most from China's travel boom, with Hong Kong and Macau expected to be the top international destinations due to their large-scale entertainment and gaming complexes.

Matthew Lloyd – Getty Images

"We've done a survey of 41 cities in China and people say they want to go sightseeing or experience different cultures, but ultimately all they want to do is shop and gamble," said Aaron Fischer, CLSA's head of consumer and gaming research.

(Read more: Sleepy island wants to cash in on China's gambling addiction)

That momentum was also reflected in a new report by the United Nations World Tourism Organization (UNWTO), which showed Asia-Pacific had the strongest demand for international tourism in 2013, surpassing both Europe and the U.S.

According to Expedia Asia, Japan remains the top pick among Chinese travelers for the upcoming Lunar New Year holidays due to the yen's weakness.

"Intra-Asian travelling is hot; we see lots of people travelling shorter destinations. With the LCC [low-cost carrier] phenomenon in Southeast Asia, you also see younger people travelling," Kathleen Tan, CEO of Expedia Asia told CNBC's "The Call" last week.


Most Popular