China and India Lead in Plans to Spend on Travel
Growing wealth in Asian markets, particularly India and China, are fueling a boom in outbound travel and it is crucial for travel businesses to understand these demographics.
Outbound tourism from China has been a major force in the global tourism industry before the pandemic. In 2019, Chinese travelers made 155 million trips abroad and spent almost $255 billion, amounting to 14% of global tourism revenue. The number of total outbound trips from China is expected to surpass 200 million in 2023 and 365 million by 2030. This would mean a significant recovery and growth for the global tourism industry. Follow news about this below.