By 2025, China’s investment in tourism will amount to US$278.7 billion, taking over the US as the world’s largest tourism country according to WTTC. In the following 10 years, the growth rate of the tourism industry will continue higher growth than the macro-economy. The tourism industry is expected to offer 72.9 million new jobs.
Although China’s economic growth slows down, China in the global tourism market gains an increasingly larger share. According to data of the World Travel and Tourism Council, annual growth rate of China tourism GDP a is 3.8%, slightly lower than the previous year’s estimation of 4.1%. Many factors can explain why China will be difficult to maintain high growth rates, including the gradual loss of the demographic dividend, decline of return on investment (ROI) year by year, unfavorable external environment, slowing productivity growth , transformation of the economic structure and others.
By 2025, China’s investment in tourism will reach US$278.7 billion, taking over the US as the world’s largest tourism country. However, the total tourism GDP contribution, inbound and outbound tourism consumption rank after the United States. The contribution of the tourism industry in China’s GDP will increase from 9.8% 2014 to 10.5% 2025 and tourism employment in the total employment rises from 9.4% 2014 to 10.7% 2015, mainly due to strong growth demand in the emerging market and a growing consumption trend in tourism, in addition, the support of the government and the companies to meet the large demand of tourism infrastructure and talents.
By 2025, China will surpass Spain and France to be the second largest country by tourism revenue, following the U.S., and the largest tourism spending country, followed by America, German and the United States.
Also read: China the Largest Inbound Tourism Market for Japan H1 2015
