China went from being travel minnows to the world’s most powerful outbound market in less than two decades. According to a report published in the Telegraph, there were only 10.5 million Chinese who traveled overseas in 2000 whereas, in 2017, 145 million of them made cross-border trips.
Source: telegraph.co.uk
Most of the Chinese tourists (69.5 million) made journeys to China’s special administrative regions such as Hong Kong, Macau, and Taiwan in 2017. The other Asian countries receiving the benefit from the China tourism boom include Thailand, Japan, Vietnam, South Korea, and Singapore.
Source: telegraph.co.uk
1. Thailand
According to a report published in the Telegraph, Thailand received more than 7.7 million tourists from China in the first 8 months of 2018 with a year-on-year increase of 16.51%. Thailand was able to generate about 9 million yuan in revenue because of the boom in China’s tourism. National Parks are the most visited destinations in Thailand.
According to Emerging Trend Advisors, Chinese tourists allocate 4% of their budget to foods while 41% to shopping. Moreover, Chinese tourists pay more attention to local cultural activities and Thailand’s handmade goods when compared to overseas products.
Also, the rise in tourists from China has created growth opportunities for retailers, hotels, and property dealers. The growing interest and positive feedback from foreign tourists especially from China have resulted in an increase in the economy of the country.
2. Japan
According to Forbes, 7.4 million Chinese visited Japan in 2017 and spent $15 billion. The continued influx of tourism has resulted in the growth of the retail industry. The same report suggests discount retailers experienced a sales growth of 1.6% in 2017. Source
According to the Japan Times, 1,386 Chinese residents were issued medical visas. The increase in the number of patients coming from China has resulted in a boost to Japan’s medical establishment.
Chinese Tourists have started spending more on sightseeing and entertainment than shopping. This change in taste has a significant impact on Japan’s economy.
3. Vietnam
According to VNExpress, 2.5 million Chinese tourists visited Vietnam in the first half of 2018, representing a 36% year-on-year increase. The increase in spending by Chinese visitors can boost Vietnam’s GDP.
According to Retail Asia, a 30% increase in spending by Chinese tourists would boost Vietnam’s GDP by nearly 1%. The local population is also likely to benefit from the China Tourism Boom.
The number of jobs has also increased as Vietnam is now trying to meet the demand of Chinese tourists i.e. Chinese speaking Vietnamese guide. This way incoming Chinese visitors will boost local tourism and the economy.
4. South Korea
According to a report published in South China Morning Post, the total amount spent by Chinese tourists increased by over 80% between April 27 and May 4, 2018, when compared to the same period last year.
Most of the retailers are likely to benefit from the China tourism boom as Chinese tourists are keen to spend when visiting foreign countries which in turn, will boost South Korea’s economy.
5. Singapore
According to The Straits Times, Singapore received more than 2.7 million Chinese tourists from January to October 2017. Asia-pacific travel demand has benefited Singapore’s tourism.
A report from Today Online indicates that Chinese tourists spent around S$3.1 billion between January and September in 2018. Local guides and retailers are likely to benefit from the increase in spending by Chinese tourists.
Conclusion
Countries like Thailand, Japan, South Korea, Singapore, and Vietnam will likely benefit from the China tourism boom. With an increase in the number of Chinese tourists, the economy of Asian countries is likely to boost.
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