China’s global tourist volume is poised to rise at a compound annual growth rate (CAGR) of 9.25%, from 2.43 billion in 2011 to 3.46 billion in 2015, driven mainly by increased investments in its hospitality industry, according to a BRICdata report.
China will spend CNY7.3trn during 2011-15 on upgrading its transport infrastructure, which will help boost inbound tourist volumes.
According to the report, the country’s total tourist volume grew at a CAGR of 10.77% over the review period, from 1.47 billion in 2006 to 2.22 billion in 2010, making it the world’s third-most popular travel and tourism destination behind the US and France.
Major international events such as the 2008 Summer Olympic Games, the Asian Games and Shanghai Expo contributed to the increase in foreign visitors.
China’s strong economic growth, which has resulted in higher levels of disposable income and increased expenditure on leisure and business tourism, have also boosted the country’s tourism industry.
Under its 12th five-year plan, the Chinese Government will invest CNY1.5trn in developing its aviation market, increasing the number of airports in the country from 175 to 220 by 2015.
The full report ‘Travel and Tourism in China, Key Trends and Opportunities to 2015’ is available from BRICdata. Click here for more details.