China’s travel growth outpacing all other nations
Sep 25, 2017
As China’s travel market takes off, all eyes should be on the country’s roughly 400-M millennials, who will drive spending on airfare, hotels, theme parks, casinos and cruises world wide in the years to come.
China’s travel industry is projected to grow at an average rate of 8% Y-Y annually from Y 2017 to Y 2027, outpacing other major economies like India and the US, according to the World Travel and Tourism Council.
Chinese will take almost 70% more trips overseas in Y 2020 compared to Y 2015, fueling growth in tourism and aiding transportation and infrastructure, the tourism analysts said in a report last week.
The upcoming 1 to 8 October Golden Week national holidays will be a barometer on the booming industry, with China Tourism Academy projecting 710-M trips, up 10% from Y 2016.
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