The World Travel & Tourism Council (WTTC) has revealed that the Travel & Tourism sector in China is set to experience a major resurgence, driven by the influx of Chinese travelers. According to the latest Economic Impact Research by WTTC, the sector is projected to contribute $1.48TN to the national economy by the end of 2023, marking a 150% increase from 2022. Furthermore, the sector is forecasted to support over 74MN jobs in China this year, demonstrating significant growth and a strong recovery from the impact of the pandemic. This surge in Chinese travelers is also expected to have a positive global impact on the hospitality industry, with data showing continued interest from travelers in visiting China.
Chinese Travellers Driving Resurgence in Travel & Tourism
The World Travel & Tourism Council (WTTC) has predicted a major growth in China’s Travel & Tourism sector in the coming years. According to the WTTC’s latest Economic Impact Research, China’s Travel & Tourism sector is expected to contribute a staggering $1.48TN to the national economy by 2023. This represents a significant increase of over 150% from 2022 when the sector contributed $583BN. The WTTC’s forecast for the sector is even more impressive, with expectations that it will contribute over $4TN to China’s economy by 2033. This demonstrates remarkable growth, outpacing the global compound annual growth rate (CAGR) by almost 2:1. Furthermore, the sector is expected to support over 74MN jobs in China this year, which is an increase of more than 18% from 2022 and just 9% behind 2019 levels. Looking ahead, the WTTC predicts that the sector will support more than 31MN additional jobs by 2033, reaching almost 106MN in total. This represents almost one in seven jobs across China.
Global Appetite for Travel to China
The WTTC’s recent report, “A World in Motion,” highlights the strong global appetite for travel to China. Search data for hotels and flights in December 2022 showed that there is significant interest in visiting China from the Americas and Asia-Pacific regions. This suggests that travellers from all over the world are keen to explore the diverse attractions that China has to offer. In terms of outbound travel from China, the WTTC’s knowledge partner ForwardKeys revealed a 90% increase in outbound passengers from mainland China in 2022, reaching a total of 3.6MN. While this number is still lower than the 2019 peak of 47.9MN, it represents a significant recovery from the low of 1.9MN outbound passengers in 2021. The data for 2023 is even more promising, with a phenomenal 506% increase in outbound passenger numbers from January to August, reaching a total of 22.1MN. In terms of inbound travel to China, there was an 89% increase in inbound passengers in 2022 compared to the previous year, reaching a total of 3.3MN. The year-to-date data for 2023 shows a 556% increase in inbound passenger numbers from January to August, reaching 21.9MN. These figures indicate a strong demand for travel to and from China, both domestically and internationally.
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Resurgence of Travel & Tourism in Hong Kong
The resurgence of travel and tourism is not limited to mainland China; it is also evident in Hong Kong. In 2022, the Travel & Tourism sector in Hong Kong contributed $4.5BN to the economy, which is a significant increase of 39% from the previous year. The flight booking data shows that outbound passenger numbers from Hong Kong increased by a staggering 976% in 2022, reaching a total of 3.7MN. The year-to-date data for 2023 shows a 171% increase in outbound passengers from January to August, reaching a total of 10MN. Similarly, there was a 966% increase in inbound passenger numbers to Hong Kong in 2022, reaching a total of 3.5MN. The year-to-date data for 2023 shows a 183% increase in inbound passengers from January to August, reaching a total of 10.1MN. These numbers indicate a strong recovery in travel and tourism in Hong Kong, with both domestic and international travellers showing a keen interest in visiting the city.
Resurgence of Travel & Tourism in Macau
Similar to Hong Kong, Macau has also experienced a resurgence in its Travel & Tourism sector. In 2022, the sector contributed $12.3BN to Macau’s economy, which is a significant increase of 26% from the previous year. The flight booking data shows a 52% increase in outbound passengers from Macau in 2022, reaching a total of 373,000. The year-to-date data for 2023 shows a 331% increase in outbound passengers from January to August, reaching a total of 1.6MN. In terms of inbound passengers, there was a modest 2% increase in 2022, reaching a total of 516,000. The year-to-date data for 2023 shows a 286% increase in inbound passengers from January to August, reaching a total of 1.9MN. These figures highlight the resilience of Macau’s Travel & Tourism sector and its ability to attract both domestic and international visitors.
Resurgence of Travel & Tourism in Shanghai
Shanghai, one of China’s major cities, has also experienced a significant resurgence in its Travel & Tourism sector. In 2022, the sector contributed $29.7BN to Shanghai’s economy, which is an impressive increase of almost 70% from the previous year. The flight booking data reveals a 120% increase in outbound passengers from Shanghai in 2022, reaching a total of 906,000. The year-to-date data for 2023 shows a 529% increase in outbound passengers from January to August, reaching a total of 5.6MN. In terms of inbound passengers, there was an 82% increase in 2022, reaching a total of 726,000. The year-to-date data for 2023 shows a 633% increase in inbound passengers from January to August, reaching a total of 5.3MN. These numbers demonstrate the strong recovery of Shanghai’s Travel & Tourism sector and the city’s ability to attract both outbound and inbound travellers.
Future Outlook for Chinese Travel & Tourism
The future outlook for Chinese Travel & Tourism remains positive. Chinese travellers are eager to explore the world once again, and the global appetite for visiting China remains strong. The WTTC’s President & CEO, Julia Simpson, highlighted the continued appetite for travel, stating that “Chinese travellers want to explore the world once again, and international travellers are eager to return to this amazing country, rich in culture, breathtaking landscapes, and warm welcomes.” This eagerness to travel, combined with the resilient growth of China’s Travel & Tourism sector, suggests that there will be continued growth and development in the industry.
Conclusion
Chinese travellers are expected to drive a major resurgence in the global Travel & Tourism industry. With significant contributions to the national economy and job creation potential, the sector is set to thrive in the coming years. The strong global appetite for travel to China, coupled with the recovery in outbound and inbound passenger numbers, further supports this positive outlook. As the world continues to recover from the impact of the COVID-19 pandemic, the growth of China’s Travel & Tourism sector will play a pivotal role in the revitalization and expansion of the industry on a global scale.