CHINA. A new style of “money-rich and time-poor” Chinese tourist is expected to make a big impact on the global travel market, according to recent research by analyst ForwardKeys.
A study, in collaboration with the China Outbound Tourism Research Institute (COTRI), indicates that customised itineraries are gaining popularity among Chinese travellers. And this trend could offer big opportunities for the travel sector and travel retail, noted the travel analyst.
ForwardKeys said “more adventurous and better-off” Chinese tourists are avoiding package deals and seeking customised tours, which could include Michelin-star restaurants and prestigious sporting events.
The research indicates that China outbound bookings for the summer have increased by +13.5%. The demand for customised travel showed +300% growth in 2017.
The research highlights that these emerging Chinese travellers are younger than average and prepared to pay more for travel experiences. According to the Chinese travel services provider Ctrip, this sector has an expenditure of around US$400 per person, per day. And that figure, Ctrip said, is set to increase.
Data from ForwardKeys, which predicts future travel patterns by analysing 17 million booking transactions a day, shows that China bookings for Europe are ahead +10.5% this summer. Europe – and particularly the UK – are the destinations most favoured by travellers from China seeking customised trips.
Until recently, mass-market package tour groups from China boosted a destination’s visitor numbers. However, their spending was “limited to famous landmarks during high seasons”. Ctrip said the new trend is to make customised travel an “affordable luxury” and available to more Chinese.
COTRI Founder Prof. Dr. Wolfgang Georg Arlt said: “Europe is a perfect example of destinations that have great potential to fulfil the demand for customised travel from China, owing to its rich history and broad cultural diversity.
“Visas, entry tickets and transport can be difficult for individual travellers to arrange by themselves and even more so in the face of language barriers. The time difference and varied ways of communicating can present complications to those travellers who are making their own arrangements. Accordingly, there is a strong demand for travel professionals to provide extensive travel services.”
ForwardKeys CEO and Co-Founder Olivier Jager added: “There is a bright future for organisations involved in Chinese travel to Europe. As a long-haul destination, Europe has the largest market share of Chinese outbound travel, receiving 9.3% of the market. Over six million Chinese citizens visited Europe as their first stop in 2017; and our figures show more growth this year.”
