China already accounts for the highest outbound travel expenditure worldwide, and is set to continue the strongest growth in absolute value terms up to 2030
This report highlights the expected standout increase in average spend in the United Arab Emirates, South Africa, India, Indonesia, Brazil and Argentina.
A potential economic downturn might dampen growth, but will not result in a decline. While Asian countries will be hardest hit, China will continue recording positive growth of outbound expenditure.
With Chinese travellers preferring economy accommodation, South Africa and the United Arab Emirates demonstrate a significant gap in their lodging markets, which offers opportunities to hotel players.
With increasing amounts of Chinese travellers starting to travel, average spending in luxury destinations such as Macau and Switzerland is set to decline, but many countries will benefit from increased spending.
The United Arab Emirates and Indonesia are forecast to see slow growth in short-term rentals, which should entice short-term rentals platforms to increase their presence there.
Scope
How to attract Chinese travellers
China has become largest outbound market
GDP growth strong driver of outbound expenditure
Chinese hard landing would slow Asian travel, but no decline
Emerging destinations set to benefit from increased spend
Strong preference for budget lodging among Chinese travellers
Is the hotels industry ready to receive Chinese travellers?
The potential of short-term rentals
What do Chinese travellers want? The case of two global chains
Key takeaways
Appendix
About Euromonitor International’s Travel Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Travel Forecast Model