China’s outbound tourism market will not completely pick up before the second half of next year, according to a survey from international consultants Oliver Wyman.
From the findings of the survey, Oliver Wyman predicted that only 62 percent of Chinese tourists with overseas travel experience before the Covid-19 pandemic will head offshore again by the end of the year.
Forty percent of the survey participants said they plan to travel abroad this year. Of the remaining 60 percent, 24 percent plan to go next year and 59 percent in 2025 or 2026. Only 37 percent of those who had not traveled abroad before Covid-19 intend to book a trip before 2026.
A reason for the slow recovery of international travel is the hot domestic tourism market, as 73 percent of the survey participants with overseas travel experience said they are quite happy with local destinations. Moreover, 24 percent believe international air tickets are too pricey, and 22 percent are concerned about health risks.
Hong Kong is the most popular outbound destination for Chinese mainland tourists, as 23 percent of the survey respondents have already traveled to the special administrative region since the easing of Covid restrictions or plan to do so this year. Western Europe ranked second with 16 percent, followed by Japan with 15 percent, and South Korea with 14 percent.
Shopping overtook sightseeing as the top reason for travel among Chinese tourists, who will spend nearly half of their travel budget on shopping, the same as the pre-pandemic level, Oliver Wyman noted.
France and Italy are the main countries where Chinese travelers buy luxury leather goods, fashion products, jewelry, and watches.
South Korea and Japan are the top two destinations where they buy personal care and makeup products. For these items, Hong Kong lost ground because of the competition of China’s southern Hainan province, the world’s biggest offshore duty-free market. The SAR is still a preferred choice for luxury apparel and accessory shopping.
Respondents under 25 years old said they were not interested in traveling for shopping. For them, the destinations need to have tasty food.
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