Marguerita (Rita) Cheng, CFP®’s Post

If you're in the travel/hospitality industry, this is a must-read: Chinese tourists in Korea spent double on accommodation in 2019 but less on travel packages compared to the same period. The shift in spending patterns is attributed to the growing number of young and trend-sensitive independent travelers. #korea #china #hospitality #travel #consumerinsights

Greece is among the Top 10 countries that younger travelers are eager to visit in the next year or have already visited, according to the findings of a study released by ABTA, the trade association for UK travel agents and tour operators. Indicatively, Greece ranks 6th on a list of countries where 18-24-year-olds – also known as Generation T – want to go. #VisitGreece #GNTO #travelandtourism #hospitalityindustry

The drop in Chinese tourists is costing the US billions. "The average Chinese tourist traveling independently (versus a group tour package) spends $10,445 on a trip to the U.S., according to data collected by the NTTO. Comparatively, the typical visitor from the United Kingdom or Brazil spends $2,576 and $3,269, respectively, while the average Japanese tourist spends $3,783. In other words, it takes roughly three Brazilian tourists or four U.K. tourists to make up for every Chinese tourist who travels elsewhere." #Chinese #tourists #US #B #visa #revenue

The US, UK and France want to bring back Chinese tourists. Key points: > 2023 Chinese tourist inflow to the US stood at 30% of 2019 levels, while overall travel stood at 73% > This has resulted in a loss of $9 billion in potential travel spending from China, according to the US Travel Association > Two million Chinese tourists visited France in 2019, generating €3.5 billion in revenue, but fell to €1 billion in 2023 > The UK is currently missing out on £750 million a year in Chinese tourist spend > Part of the problem lies with the UK’s abolition of VAT-free shopping for tourists in 2021 https://lnkd.in/dVd_6wmz #china #chinamarket #chinatravel #chinaeconomy #chinamarketing #chinabusiness #travel #tourism

“Chinese tourists are heading overseas for the extended May Labor Day holiday in near pre-pandemic numbers, accelerating a rebound of what used to be the world’s biggest travel market. Outbound trips between April 27 to May 5, which includes the five-day break that started Wednesday, are only 7% below 2019 levels, according to ForwardKeys. A last-minute rush has seen bookings surge at a faster pace than expected. Meanwhile, domestic ticketing for the period has surpassed 2019 levels by 4%. The data, together with the results of Bloomberg Intelligence’s China traveler sentiment survey, shows demand rebounding, despite worries the country’s sluggish economy. A swift return of Chinese travelers, who spent almost $248 billion on foreign travel in 2019 before the pandemic shut down tourism, is vital to fill a big hole in the global travel industry. ‘We’re now well ahead of the pace — that’s the bottom line,’ said Tim Bacchus, Bloomberg Intelligence’s senior industry analyst. ‘We’re seeing an acceleration and an increase of expectations on China’s outbound travel.’” “In 2019, Chinese travelers made 170 million trips abroad and their spending made up 14% of global tourism revenue, according to World Travel and Tourism Council data. Bloomberg expects international air travel from the mainland to top 90% of 2019 levels this year. Domestic travel is also booming. China’s railway stations saw a peak of travelers on May 1, the start of the Labor holiday, with train stations packed wall-to-wall. More than 1.4 billion domestic trips were made in the first quarter, up 17% from last year. Holidaymakers in the country spent 1.52 trillion yuan ($210 billion) last quarter, also a 17% increase. ‘The resurgence of international travel, coupled with robust demand for domestic travel, paints a promising picture for the industry in China,’ said Nan Dai, ForwardKeys’ China market analyst. The main headwind that might prevent a full recovery to 2019 levels this year is the lack of foreign passengers heading to China.” “Strained relations with the United States have spilled over into travel, while European vacationers haven’t returned in big numbers either despite China’s relaxation of visa rules for some countries. Destinations in Asia, including Malaysia, Singapore, and Indonesia are among the biggest beneficiaries of the jump in Chinese travelers. Chinese vacationers are also favoring Japan, where a weaker yen helped to attract more than 452,000 mainland visitors in March. Chinese visitors ranked third among international arrivals in March — though numbers were still about 35% below pre-Covid levels. Outside Asia, Europe is favored during the extended Labor Day holiday, according to ForwardKeys. Bookings for Italy rose 19% from 2019 levels, while the U.K. is seeing a 12% gain. And Beijing’s push of travel spots in the Middle East that are part of the country’s Belt and Road Initiative is working: the United Arab Emirates was the top destination outside Asia.”

This year’s celebration of the Chinese New Year holds exceptional significance as it marks the first festivities following the easing of pandemic restrictions in mainland China. Additionally, Beijing has extended the traditional seven-day holiday to eight days, a move aimed at boosting tourism. Early bookings indicate a preference for departing early to avoid crowds and high fares. Despite this, outbound travel bookings for the holiday period still lag 37% behind pre-pandemic levels. Several factors contribute to this, including the surge in domestic tourism in recent years, evolving consumer habits, and limited air connectivity. Conversely, domestic destinations like Haikou, Harbin, and Changchun have emerged as thriving winter destinations. In this competitive landscape, visa facilitation policies, adequate air connectivity, and innovative promotional initiatives tailored to relevant audiences have proven effective in capturing the interest of Chinese travellers. More information in this article from BusinessMirror featuring my colleague Nancy Dai Check it out: bit.ly/3SRsFc9 #chinesenewyear #travelindustry #chinesetourism #destinationmanagement #destinationmarketing #traveldata #travelandtourism #china ForwardKeys

"2024 Chinese New Year Travel Forecast" - The Chinese Lunar New Year in 2024 will have an eight-day holiday from February 10th to 17th, with work resuming on February 4th and 18th. - The announcement of the holiday arrangement led to a significant increase in searches for train tickets and international flights during the Spring Festival period on travel platforms like "Qunar." - According to data analysis, the third and fourth days of the lunar calendar are expected to have lower airfare prices, making it suitable for family outings after returning home. - The extended holiday period offers travelers the opportunity to explore destinations farther away, and popular domestic destinations include Sanya, Dali, Beihai, Haikou, and Xishuangbanna. - European and Australian destinations are among the top searched for outbound travel, with Australia, Spain, Switzerland, France, and New Zealand being the top five in terms of increased search volume. Visa inquiries for Australia, New Zealand, and Europe have also seen a noticeable increase. - Flight prices are expected to remain high from February 8th to 11th (the day before New Year's Eve to the second day of the lunar calendar), but they are likely to drop significantly after the third day of the lunar calendar, offering better value for off-peak travel. - The travel trends for the 2024 Spring Festival include a significant increase in passenger volume, a more evenly distributed peak travel period, and travelers opting for longer distances and multiple destinations. #Chinese #CNY #2024 #PAX #Travel #INTL #DOMS #TAIWAN #CHINA #CAFA #AUS #NZ #EUR #VISA

Don't just take our words, hear from our customers 😉 Can't Recommend Asia Pioneer Travel Highly Enough! We had a wonderful experience with Asia Pioneer Travel (APT). I was traveling to Vietnam for a conference and my wife and I wanted to do some sightseeing afterwards. We were not sure how to navigate the country on our own. We found high ratings for APT on TripAdvisor so wrote to them. We received a response from Chloe almost immediately. We had indicated some places we thought we wanted to see (based on some information from my conference's website), including going to Cambodia to see Angkor Wat. Very quickly, Chloe provided us with a potential tour plan, including many details to let us know what would happen. Most of it suited our needs, but we asked for something else and Chloe modified the plans immediately! The actual tour matched the planned tour very closely and was great! After talking to some friends, we asked for a somewhat minor adjustment to one day, and Chloe made that happen as well (at a small additional cost). Our tour guides were very friendly, informative and helpful. In some cases their accent was difficult for us to understand, but that was very minor. We learned a great deal and saw some amazing places, including Ha Long Bay, Da Long and Hoi Ann, Angkor Wat and Angkor Thom. In addition, the food was amazing! We were able to eat at some of the best places in the cities we visited and the menus were all planned for us. Having (air-conditioned) transportation was indispensable and made moving through the country carefree. The tour included an overnight cruise in Ha Long Bay and flights to move across the country and into Cambodia. The drivers were careful and friendly and always provided us cold water (which was needed, because Vietnam and Cambodia are very hot and humid in late June!). One even provided us with cold, wet clots to help cool down quickly when returning to the car. We highly recommend Asia Pioneer Travel to anyone looking to create a customized and personalized trip to Southeast Asia! Don - Utah, USA Full review: https://lnkd.in/gWYCqxVT #customerfeedback #AsiaPioneerTravel #hearfromourcustomers