Chinese tourists to reshape global travel industry: Report
Updated: 2011-11-08 10:08
LONDON - The continued growth in Chinese outbound and domestic travel would change the global hospitality industry, a report revealed on Monday.
According to the Global Trends Report 2011, which was released at World Travel Market in London, Chinese tourists would spend $57 billion on accommodation this year, third in the world behind the United States and Germany.
By 2015, the Chinese will be number two, with their spending up 17 percent to 67 billion dollars.
The report, produced in association with Euromonitor International, said that some global hotel chains are partnering with Chinese businesses to get a foothold in the domestic market, while others are customizing their offer to cater to Chinese tastes.
"Companies will use their experience in the Chinese domestic market to feed best practices back to properties abroad in key destinations for Chinese travelers," the report said.
Spanish hotel giants Sol Melia and NH Hotels have both taken the partnership approach. Sol Melia has partnered with Jin Jiang Hotels, while Chinese travel group HNA bought 20 percent of NH Hotels to help the Spanish chain enter the Chinese market.
"The importance of the Chinese market has been known for some time, but we are now starting to see how their desire to travel - domestically and internationally - will reshape the business, with hotels at the forefront of these changes," Chairman of World Travel Market Fiona Jeffery said.
World Travel and Tourism Council figures show China is the world's third largest market for outbound tourists, and China also received 56 million international tourists in 2010.