Chinese tourists enjoy the sights along Sydney Harbour
The number of Chinese tourists selecting Australia as their preferred travel destination is booming, as travelers look beyond nearby locations.
A report conducted by broker CLSA forecasts an increase in the number of Chinese tourists traveling to Australasia by an average of 22 percent per annum between 2014 and 2020. This is considered the highest rate of growth in Chinese tourism to any region in the world. Research has shown that there was already growth of 19 percent in the number of Chinese tourists to Australia from 2009 to 2014.
By 2020, CLSA expects a 200-million person surge in the number of outbound trips made by citizens of China. That compares with last year’s figure of 125 million trips, of which 58 million were to Hong Kong or Macau.
Meanwhile, the number of mainland Chinese tourists traveling to their preferred destinations – Hong and Macau – is set to grow at an annual compound rate of just 2 percent and 4 percent respectively in the years leading up to 2020.
According to Aaron Fischer, the Hong Kong-based CLSA regional head of consumer and gaming research, as people become more affluent, they will travel further afield.
“Income growth is still positive in China. As people earn more money, they are looking to allocate more of their income and wealth to tourism and travel. Even if there is a slight slowdown in GDP growth, we don’t see outbound tourism slowing down at all,” explained Fischer.
He emphasized that the widespread use of social media in China was also a catalyst for travel, as tourists wish to use these platforms to boast and share their experiences of travelling overseas with their family and friends back home.
“We have seen a huge increase in the number of outbound trips over the past 10 years,” Fischer said. “Countries around Asia and the world are fighting hard for the Chinese wealth. Many countries are making it easier for Chinese [people] to travel to their country.”
Chinese tourists are the most lucrative visitors to Australia, spending AUD7.7 billion (MOP43.3b) a year. Thus Fischer said the weaker Australian dollar would further increase spending by Chinese visitors. Staff reporter
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