China is the largest outbound travel market and expected to see 103.4 million trips in 2021 constituting 40 percent of all Asia Pacific outbound travel, nearly four times that of the #2 and #3 markets being South Korea (25.6 million) and India (21.5 million) respectively according to a latest Mastercard Report.
asia pacific
Chinese consumers’ confidence continued to rise in 2016
Chinese consumers’ confidence continued to rise in 2016 according to Mastercard Index of Consumer Confidence. The outlook in China (80.8, +4.8) continues to increase due to improvement across all five components, with Stock Market (+9.1) contributing the most to the increase.
Bangkok is the most popular destination for Chinese tourists
China ranks the first of the top ten sources of tourists to Asia pacific destinations with 50.4 million international overnight visitors; it is nearly 20 million more than that of South Korea which ranks the second according to a MasterCard research.
Three quarters of people in China are shopping on smartphones
Emerging markets are leading the way with smartphone users in China (45.0%), India (36.7%) and Singapore (23.3%) Asia Pacific’s biggest adopters of digital wallets according to MasterCard.
Understanding Chinese Luxury Travelers
There are often distinct differences for almost everything between China and the rest of Asia and Oceania and there’s no exception for luxury travel industry. Here are some insights Brand Karma study revealed.
China to Surpass the US in Business Travel Spending by 2016
Business travel in Asia Pacific, led by a dominant China, outpaces the rest of the world, according to a newly released travel forecast by the GBTA Foundation. Driven by infrastructure investments, exports and service development, business travel spending in China has grown from US$32 billion in 2000 to US$225 billion in 2013, an average of […]