China expects more than 264 mn tourist arrivals generating $107 bn income
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China expects more than 264 mn tourist arrivals generating $107 bn income

News  
01-16-2024
 
The China Tourism Academy has projected a vibrant recovery for China‘s inbound and outbound tourism market in 2024, expecting tourist arrivals to exceed 264 million, generating over $107 billion in international tourism income. 

Recent visa policy changes, such as Malaysia’s 30-day visa-free entry and Thailand’s mutual visa exemption with China, have spurred enthusiasm among Chinese travelers. The Civil Aviation Administration of China’s data highlights a significant increase in international flights, from less than 500 weekly flights in early 2023 to over 4,600. 

The outbound travel market in China is booming, thanks to rising affluence and a growing middle class. Future Market Insights forecasts a robust 14.1% CAGR for China’s outbound travel market from 2022 to 2032, with the market poised to exceed US$ 690,719 million by 2032. 

Millennials represent a significant portion of this outbound market, increasingly turning to online platforms for travel information and bookings. With China’s vast population and growing economy, the market is set to reach new heights. As China’s outbound tourism market continues its accelerated growth, its influence on global travel dynamics remains undeniable, shaping the future of international tourism.
# China
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