Chinese market

InterContinental Hotels Group has partnered with Oxford Economics to publish one of the most comprehensive studies into the Chinese travel market ever undertaken.

The report reveals the scale of the opportunity for global travel destinations to benefit from shifting patterns in Chinese travel, with London, New York, Los Angeles, Sydney and Tokyo expected to benefit most.  It shows that favourable economic and demographic trends shaping the Chinese travel market are set to fuel huge increases in demand for international travel over the next decade.  It also reveals the opportunities this growth will present, as Chinese traveller preferences evolve towards long haul, leisure-driven travel.  The study reports that increases in leisure and retail spend will contribute to significant increases in the value of Chinese travellers to local economies.

Richard Solomons, Chief Executive Officer of IHG, commented: “This is a ground-breaking piece of research, which demonstrates the sheer scale of the ‘China outbound’ opportunity for cities and local economies worldwide.  With the shift towards leisure travel, coupled with the 90m Chinese households able to take long haul trips by 2023, the country’s growing importance in the global travel market cannot be underestimated.  www.ihgplc.com/chinesetravel

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