Pricing pressure will remain in the near term as there are major uncertainties buffeting the world economy, namely the rocky Trump administration, Brexit, as well as the flaring up of regional tensions across the world.
By 2022, Euromonitor expects that China will be the world’s largest source of outbound tourism demand, with 128 million trips, overtaking the US as the country with the highest propensity for travel abroad. Growth is set to be very strong, at 8.4% over the period 2017-2022. Outside of Asia, the US and France are likely to benefit the most, due to their China-ready approach.
China is already the largest source of tourism expenditure, growing by 10.9% over 2017-2022, driven predominantly by GDP per capita, and the rise in middle-class households.
Japan saw the strongest increase in China arrivals growth over 2013-2017, with a CAGR of 54%, amounting to an additional six million Chinese arrivals thanks to simplifying the visa process and the weak yen.
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