The most recent study conducted by Report Ocean, titled “Global China Outbound Tourism Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the China Outbound Tourism. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
China outbound tourism market to reveal momentous growth by 2026, and the markets growth momentum will accelerate at a CAGR of 32% during the forecast period. This report on the China outbound tourism market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as countries analysis covering around 26 nations. The report uses data and analysis to discuss potential lucrative opportunities, current and future trends related to China’s outbound tourism flow, spending, the purpose of visits, and main destination markets.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The report provides a clear insight into current and future tourism developments of the China outbound tourism market. Furthermore, this report uses a country-focused analysis to explore the China outbound tourism market. A detailed country-wise analysis of the market is provided, covering a total of 26 nations. Drivers and the restraints are studied in detail to better understand the market and to understand the future growth opportunity of the market.
Report Scope:
An Insightful Analysis of the China Outbound Tourism Market and Forecast (2015 2026)
China Outbound Tourism Market Share and Y-o-Y Growth (%), 2015 2026
Detailed Assessment of the Total China Outbound Tourists Volume and Forecast to 2027
Detailed Assessment of the Total China Outbound Tourists Spending and Forecast to 2027
Delivers a Complete Insights on Number of Outbound Visitor Departures from China to Major 26 Countries with Five Years Forecasts
Analyses China Outbound Tourism Expenditure to the Major 26 Countries with Five Years Forecast
Breakdown of Historical and Forecast Data (2015 2026) of Chinese Outbound Tourism in Europe
Breakdown of Historical and Forecast Data (2015 2026) of Chinese Outbound Tourism in Asia
Breakdown of Historical and Forecast Data (2015 2026) of Chinese Outbound Tourism in North America
Breakdown of Historical and Forecast Data (2015 2026) of Chinese Outbound Tourism in Oceania
Breakdown of Historical and Forecast Data (2015 2026) of Chinese Outbound Tourism in Other Major Countries
Breakdown of Historical and Forecast Data (2015 2026) between Leisure, Visits Friends and Relatives (VFR), Business and Other Segments
Delivers an In-Depth Analysis of Evolving Market Trends, Drivers and Restraints of the China Outbound
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Tourism Market
The Report Analyses the Market Based on Countries and Presents the Forecast in Terms of Value and Volume for the Next Five Years. Countries Covered in the Report Include:
1) The United States
2) Canada
3) Dubai
4) Hong Kong
5) Macau
6) Philippines
7) Thailand
8) Vietnam
9) Malaysia
10) Indonesia
11) Japan
12) Singapore
13) Cambodia
14) Korea
15) Taiwan
16) India
17) Spain
18) France
19) Germany
20) Italy
21) Turkey
22) The United Kingdom
23) Australia
24) New Zealand
25) Nepal
26) Sri Lanka
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Key Questions Addressed by the Report:
What is the current size of the overall China outbound tourism market?
How much Chinese tourists spent while traveling abroad?
To what extent did Covid-19 impact China’s outbound tourism market in 2020?
Which countries have the most Chinese tourists?
Which European country has the most Chinese tourists?
In which country do Chinese tourists spend the most money?
How the rise of Chinese tourism will change the face of the World travel industry?
What are the main drivers and restraints in the China outbound tourism market?
How is the China outbound tourism market anticipated to evolve during the forecast period 2021 2026?
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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