China is the key emerging market the travel and tourism industry should focus on over the next five years, according to new research announced at Thursday’s inaugural WTM Vision Conference in Milan.
China is the key emerging market the travel and tourism industry should focus on over the next five years, according to new research announced at Thursday' s inaugural WTM Vision Conference in Milan.
The country is predicted to be the biggest outbound tourism market of the emerging BRIC (Brazil, Russia, India, China) economies with a total of 20 million new outbound departures between 2010 and 2015, according to the Euromonitor International report, which was launched at the first session of WTM Vision Conference. Russia comes next with an increase of nearly 12 million, and India with more than nine million new outbound trips. Brazil will generate just two million new trips, although its focus during the period will be on attracting inbound travellers, driven by its hosting of the FIFA World Cup 2014 and the 2016 Rio de Janeiro Olympics.
"More than 40 countries are now predicted to have more than one million additional outbound trips over the next five years, with many from the Middle East and Asia Pacific, home to growing middle classes, keen to travel and explore overseas," Euromonitor International Travel & Tourism Industry Analyst, Angelo Rossini told delegates at WTM Vision Conference, held at the Italian Stock Exchange in Milan.
Arrivals between 2010 and 2015 were also studied, with the US and China leading the way with an absolute growth in visitors of 18.6 million and 17.8 million respectively. In dollar terms, the US will benefit to the tune of US$49.4 billion with China' s income from the new arrivals US$15.9 billion.
The China Tourism Academy (CTA) last week forecast that Chinese international travellers would spend a record US$55 billion this year. Reported by Chinese state news agency, Xinhua, the CTA said that the Chinese outbound market is expected to increase 13% in 2011, with tourist expenditure climbing 15% compared to the US$48 billion spent by Chinese overseas travellers in 2010.
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