China Tourism Report Q2 2016
BMI View China is home to one of the largest tourism markets in the world. A growing middle class andexpanding range of international transport connections have facilitated the development of a hugeoutbound travel market while China National Tourism Administration estimates domestic tourism accountsfor some USD620bn of tourism revenue. We are forecasting healthy growth in the tourism industrythroughout our forecast period to 2020, though we do note that regional political tensions and concernsregarding a slowdown in the Chinese economy could impact upon growth potential.
Key Updates And Forecasts
A further slump in the Chinese stock market in January 2016 is cause for concern, as ongoing marketfluctuations serve to undermine consumer and investor confidence, which could lead to a delay indevelopments in the tourism industry. We do note, however, that outbound tourism bookings aremaintaining strong growth.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook