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China Outbound Tourism Market is expected US$ 500 Billion mark by 2024
China Outbound Tourism Market is expected to surpass the milestone of US$ 500 Billion mark by the end of year 2024. The major driving factors for china outbound tourism market are; rising disposable income of middle class population, liberal tourism policy like Approved Destination Status (ADS) policy, government support and rising number of Chinese passport holder will foster the China outbound tourism market during forecast period. China has evolved as a major source of outbound tourist in the world and has become one of the biggest tourism markets across the world with high per capita tourist expenditure.
 
How Countries are attracting Chinese Travelers 
In order to attract more and more Chinese tourists every country is tweaking its visa policy. Such as United States begin a 10 year mutual visa validity policy with China in November 2014. As per this new policy Chinese tourist gets a valid visa to travel to USA, and this visa can remain valid for a period of up to ten years. This new visa policy proved to be a game changer and it accounted for nearly 53% increase in Chinese visa application in the first year of the program compared to last year. In addition to this opening of new air routes from China to USA by both Chinese and United States airline companies further expanded traveler number to the United States. 
 
Tourism Types: Holiday, Visit Friends and Relatives (VFR), Business (MICE) & Others (Education, Medical Treatment)
Holiday segment is one of the most popular tourism segments among other segments of China Outbound Tourism. The other 3 segments covered in the report are Visit Friends and Relatives (VFR), Business (MICE) & Others (Education, Medical Treatment). 
 
China Outbound Tourists Numbers and Market (Spending) - Top 10 Countries 
1. Australia
2. Canada
3. Japan
4. South Korea
5. New Zealand
6. Singapore
7. Taiwan
8. Thailand
9. United States
10. Hong Kong
 
 
 
 
  Source: Open PR

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