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Chinese Tourists Keep Shaping Hospitality Market
Asia Pacific is expected to be the fastest growing hospitality market due to intra-region tourism mostly of Chinese tourists. By 2020, the market share will grow by 286.3 million new trips. The demand will keep growing because many Chinese are now ready to travel, but they are likely to choose the same region for their first travel overseas. Asia Pacific also keeps attracting international tourists. According to the data provided by United Nations World Tourism Organization, in 2015 the region welcomed 279.2 million foreign tourists. By 2020, this figure is expected to grow to 355 million.
Chinese outbound tourism is one of major reasons of Asia Pacific tourism’s development. Last year, 10% more tourists from China (128 million) travelled abroad. Their spending added 26% and reached US$292 billion. By 2020, as many as 134 million Chinese are expected to make intra-regional trips annually. Such fast development has made China the top three tourism source market in the world. These days, Chinese tourists are interested in visiting Japan, but Thailand remains the top outbound destination for Chinese (excluding Hong Kong). Thailand enjoyed the year-to-year growth of 71.7% in Chinese arrivals last year. However, upscale and luxury hotels in Thailand might not have benefited much from the trend as Chinese travelers usually spend the largest portion of their travel budget on shopping. The situation can change with time as there are signs that Chinese tourists develop more interest in quality of accommodation and service.
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