InterContinental Hotels Group (IHG) recently partnered with Oxford Economics to publish one of the most comprehensive studies into the Chinese travel market ever undertaken. Titled The Future of Chinese Travel, the report shows that favourable economic and demographic trends shaping the Chinese travel market are set to fuel huge increases in demand for international travel over the next decade. It reveals the opportunities this growth will present, as Chinese traveller preferences evolve towards long-haul, leisure-driven travel. The study reports that increases in leisure and retail spend will contribute to significant increases in the value of Chinese travellers to local economies.
Richard Solomons, Chief Executive Officer of IHG, commented: “This is a ground-breaking piece of research, which demonstrates the sheer scale of the ‘China outbound’ opportunity for cities and local economies worldwide. With the shift towards leisure travel, coupled with the 90 million Chinese households able to take long-haul trips by 2023, the country’s growing importance in the global travel market cannot be underestimated. With 30 years of experience in China, the recent launch of our new Chinese brand, HUALUXE Hotels and Restaurants, and the roll-out of our China Ready programme, IHG is well-placed to meet this growing demand.”
Shantha de Silva, Head of South West Asia, IHG, said: “More travellers means more tourism spend and we can expect both from inbound Chinese travellers over the coming decade. We know from the research that travel facilitation reforms can greatly impact the volume of travel into a country, and India’s new visa-on-arrival programme will be a key factor in encouraging more Chinese travel into this amazing country.”
“The Indian government is placing more emphasis on enhancing its draw as a destination through infrastructure development, building up key tourist attractions and presenting a cleaner India through the national Swachh Bharat Abhiyan. We are also aligned with this goal through our year-long pledge to support the Clean India campaign and our continued growth which will bring even more high quality hotels to the country to help cater to the projected boom in Chinese travel,” Shantha added.
Adam Sacks, President, Oxford Economics, commented: “The Future of Chinese Travel Report provides a comprehensive view of Chinese travel and shows that overseas trips will become possible for tens of millions of new Chinese households within the next 10 years. History shows that destinations which improve access for Chinese travellers, experience a significant growth premium in the number of arrivals. This represents a clear opportunity for both countries and international cities to benefit from the huge future increases in Chinese outbound travel.”