Chinese tourism to remain at the core of European business
by Welcome Chinese
China Market Destinations Europe Outbound trends
china Chinese Eastern Europe ETC France Russia Spain tourism travel Welcome Chinese. Europe xi jinping
Despite its economic slowdown towards the so-called “new normal,” the Chinese travel market is constantly showing signs of expansion, as many European destinations reported double-digit growth in arrivals during the first six months of 2016. Central and Eastern Europe – and Spain, too – took consistent advantage of the momentum. The “new normal” is the name given by President Xi Jinping to the country’s annual economic growth, now far from the double-digit results of recent years, but reasonably much more stable in the medium-long term.
NEW NORMAL, BROADER MIDDLE CLASS - Data gathered by the European Travel Commission (ETC) shows that Chinese arrivals to Europe has been surging at a lively pace (+13% a year on average from 2005-2015) and growth is so far estimated at 6%. Helped by the rapid growth of China’s middle class, prospects remain positive, and the country continues to be a source of huge arrivals growth for many European destinations. On the other hand, the counter-trend seen in France confirms that fears in terms of safety and security are always able to dissuade the Chinese from traveling, therefore, a better security climate is bound to unlock more growth. With Russia still not showing significant signs of recovery, China should be better positioned to remain at very core of the European hospitality industry.