Tuesday, 25 April 2017

CHINA: Chinese Tourists Biggest Spendors

China is the world's fastest growing tourist source market, thanks to higher disposable incomes in the world's number two economy and looser foreign travel restrictions. Chinese tourists made 83 million foreign trips in 2012, compared to 10 million in 2000.

Chinese tourists spent US$ 262 billon on foreign trips in 2016, a 12 per cent increase over the figure in 2015.

Chinese tourists continued to spend more than any other country's outbound travellers last year, while more than doubling the spending by their US counterparts, according to data released this week by the United Nations World Tourism Organization (UNWTO).

Chinese tourists spent US$ 262 billon on foreign trips in 2016, a 12 per cent increase over the figure in 2015, while the number of outbound tourists rose 6 per cent to 135 million in 2016.

Meanwhile, outbound travellers from the US, the second largest outbound market for tourism spending last year, spent US$122 billon abroad. Travellers from Germany, the United Kingdom and France trailed behind and made up the top five spenders.

The UNWTO said that China has been the largest outbound travel market since 2012 and that 2016 marked the 13th consecutive year that China saw double-digit growth on outbound tourism expenditure.

The growth of China's outbound tourism benefited not only many short-haul destinations in Asia and the Pacific, most notably Japan, South Korea and Thailand, but also long-haul destinations including the US and Europe.

Chinese tourists are spending 6 times more than Japanese tourists while traveling abroad.

Chinese and Japanese people have a serious rivalry when it comes to the manufacturing of innovative and novel products. These two nations are considered as the most hardworking and sophisticated nations.

People of both nations travel all over the world to explore new places and learn new things. It is the secret behind the success of these nations.

Now, the question is tourists of which country spend more money in foreign countries. Generally, tourists of both countries are very versatile as some of them spend generously while others don’t spend too much in foreign countries. Here you are going to find tourists of which nation are more bighearted and why.

Chinese vacationers spend through six times more than their Japanese brothers when they pay a visit to the South Korean capital, a review done by the Seoul Metropolitan Government. As indicated by the Seoul Institute under the city organization, Chinese tourists visit Seoul 1.9 times normally yet spend somewhere in the range of 2.13 million won (US$1,800) when they are on vacations.

In the examination, Japanese tourist goes to Seoul 4.9 times normally, however, spend only 330,000 won. The survey was directed in December a year ago on 1,045 outside tourists who were leaving through Incheon and Gimpo air terminals after their journey here.

More tourists from Southeast Asian nations said they come to Seoul 1.9 times normally, spending around 790,000 won on every visit, the most recent survey said.

The discoveries then demonstrated that travelers from North America, Oceania, and Oceania spend about 660,000 won each, with every individual visiting by a normal of 3.1 times.

The report said each foreign visitor going by Seoul spend through 1.84 million won normally, generally during his or her visit. Of the aggregate, shopping represented the most with 1.06 million won or 57.6 percent of the aggregate.

It is also a fact that youngsters spend more money as compared to old people because they have energy and desire to live every second of life. The only issue is that most young travelers don’t possess enough money to spend generously. Due to this reason, middle age travelers spent maximum amount during traveling because they have enough energy and money for it.

As per age, visitors who are in their 30s spend the most on shopping with costs hitting 1.22 million won, trailed by individuals in their 20s with 1.18 million won. Tourists in the 40-something age category spend through 920,000 won and those in their 50s and more senior spend 650,000 won.

Female tourist spends more on shopping than means with every spending through 1.14 million won, which is more than the 970,000 won that men spend on the journey.

The survey, in the meantime, demonstrated that the more times travelers come to Seoul; the more outlandish they are to spend cash here.

Among first-time guests, total expenses achieved an average of 1.10 million won. This means to around 800,000 for individuals who were here 4-6 times and fell further to 780,000 won for individuals who were in the city more than seven times, as per the survey.

What is astonishing is the matter that how price-insensitive a considerable measure of these Chinese travelers is. Hardly recognizing what the cost of something is, they will simply top off carts with things that could possibly be great esteem for cash.

Korea spends a ton of its struggle advantageously devastating everything that western travelers would likely be curious about finding in return for the modern – including new makeup shops and shopping centers for Chinese individuals. It isn’t so much that individuals from western nations don’t have cash to spend, it’s that they don’t come to Korea to spend it.

Why should they? There are numerous closer and more appealing places if one’s expectation is just to shop. As another poster said, even “duty-free” is essentially insignificant to Americans.

Most likely a lot of Chinese vacationers doesn’t come here looking to simply be carried from duty-free shop to obligation free shop with the express reason for spending. That is exactly what they’re made to do. Cash doesn’t rise on trees; it obviously originates from Chinese pockets.

Japanese people also travel a lot but they are less generous than Chinese tourists. The social and economic relations also play an important role in this difference. China has a better economy than Japan.

Moreover, the economy of scale is also in the favor of china. In short, business should focus on Chinese travelers because it is evident from statistics that which market segment is more profitable.

The number of foreign visitors from China increased significantly in 2015, but the Tourism Board of Costa Rica (Spanish initials: ICT would like to see even greater growth.

According to a news report filed by Diego Perez Damasco of national newspaper La Prensa Libre, the year-over-year increase of Chinese tourists in Costa Rica was nearly 30 percent last year. Still, the overall number of tourists from China is still not significant in comparison to other markets, particularly when compared to the United States.

Less than 9,060 Chinese tourists visited Costa Rica last year, compared to more than one million from the United States, a North American nation that sent 81,112 additional tourists in 2015. Nonetheless, Minister of Tourism Mauricio Ventura explained that attracting more Chinese tourists is an economic priority.

Chinese tourists who visit Costa Rica tend to be more affluent and not as frugal as their North American counterparts, according to research published by the National Chamber of Tourism,CANATUR. ICT officials would like to attract the type of Chinese tourists who land on private jet charters and who arrange chauffeured private transportation during their entire stay at luxury resorts.

The effort to attract more Chinese tourism to Costa Rica dates back to the administration of former President Laura Chinchilla, who visited Shanghai in August of 2012. President Luis Guillermo Solis visited the People’s Republic of China in late 2014.

Plans to open Costa Rica consulates in Hong Kong and Shanghai date back to 2013, and tourism has been a major reason for establishing these diplomatic ties, particularly at a time when Cuba is becoming very attractive to Chinese tourists who would like to experience the Caribbean for the first time.

As recently reported by The Costa Rica Star, Air China began offering direct flights to Cuba in late December.

Chinese tourists spend up big in Australia $7.7bn in the past year.

Tourism Research Australia says Chinese visitors spent more than the combined figure of $7.5bn by Britons, Americans and Canadians

Spending by Chinese tourists rose 43% in the 12 months to September, compared with the previous year, says Tourism Research Australia.

Chinese tourist spending in Australia soared to $7.7bn over the past year, rising at more than three times the rate of increase in overall visitor spending.

Spending by visitors from China rose 43% in the 12 months to September compared with the previous year. A fall in the value of the Australian dollar helped make the country more affordable to overseas visitors.

Chinese visitor expenditure has exceeded the tourist industry’s annual target of $7.4bn – set in 2010 – five years ahead of schedule. It is more than the combined $7.5bn spent by Britons, Americans and Canadians.

Total inbound visitor spending grew 13% to a record $34.8bn, said Tourism Research Australia.

The tourist industry has received a welcome boost from the decline in the Australian dollar. Even after its recent mini recovery, the currency is down almost 15% against the US dollar compared with this time last year.

Tourism Research Australia’s managing director, John O’Sullivan, said the priority was to get visitors out of the capital cities and spending their dollars across the country.

“The tyranny of time, distance and cost mean that Australia will never be a high- volume destination,” O’Sullivan said.

“Our Tourism 2020 strategy is unashamedly focused upon yield: encouraging international visitors to stay longer, disperse further and ultimately do more and spend more while in our country.”

Food and wine spending by visitors is approaching $700m, far exceeding the $500m target the industry set when it launched a Restaurant Australia advertising campaign in December 2013.

Chinese overtake Germans as biggest spending tourists.

Chinese tourists have overtaken Germans as the world's biggest-spending travelers after a decade of robust growth in the number of Chinese holidaying abroad, the United Nations World Tourism Organisation (UNWTO) said on Thursday.

Chinese tourists, known for travelling in organized tours and snapping up luxury fashion abroad, spent $102 billion on foreign trips last year, outstripping deep-pocketed travelers from Germany and the United States.

Chinese tourists spent 41 percent more on foreign travel in 2012 than the year before, beating the close to $84 billion both German and U.S. travelers parted with last year.

Tourists from other fast-growing economies with swelling middle classes, like Russia and Brazil, also increased spending in 2012. In recession-hit Europe, however, French and Italian tourists reined in their holiday budgets.

"The impressive growth of tourism expenditure from China and Russia reflects the entry into the tourism market of a growing middle class from these countries," said UNWTO Secretary-General Taleb Rifai.

The German Travel Association (DRV) said it was to be expected that the Chinese would eventually overtake Germans in terms of spending, given that the country had more inhabitants than North America, Russia and Europe put together.

"But that they have overtaken us already is astonishing," DRV president Juergen Buechy said.

The Chinese make more long-haul trips than Germans, who typically go to Mediterranean destinations, meaning that the average spend per holiday was greater, he added.

Hoteliers, tour companies, restaurants and even taxi drivers will need to brush up on their knowledge of Chinese cuisine, culture and language if they are to tempt them away from favorite destinations like Hong Kong, Taiwan and the Maldives, European tourism officials have said.

Other countries in the top 10 including Japan and Australia posted growth in travel spending, though only Russia came close to China's huge growth, with a 32 percent increase in holiday budgets.

Russians are now the fifth highest-spending tourists, parting with $43 billion last year, according to the Madrid-based UNWTO, and catching up on the British, who spent $52 billion in 2012.

Italian spending dipped by 1 percent to $26 billion in 2012 and French tourists parted with $38 billion, a 6 percent drop year-on-year. The two euro zone peers were the only countries in the top 10 outbound markets to post declines.