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Outbound Tourism Market

Outbound Tourism is the act of traveling to a foreign country by the residential citizen. It can be for many purposes like visiting friends & relatives, Medical and health solutions, leisure & pleasure, business, academic or learning purpose etc.

According to study, “Outbound Tourism Spending Habits: Top 10 Expenditure Markets in Focus” some of the major companies that are currently working in the outbound tourism expenditure markets are Norwegian, Air France, Lufthansa, VisitBritain, BBC, WeChat Pay, Alipay.

The US, China, Germany, the UK, France, Japan, Italy, Canada, Russia, and Spain are top 10 expenditure markets of outbound tourism.

China has become the largest source of outbound tourists in the world, due to increasing disposable income, fewer visa restrictions, better exchange rates, and more flight connections; The Internet plays an important role in promoting country’s outbound tourism. In 2017, outbound tourism trips have reached 130 million in the country, a rise of around 7% over last year. Additionally, outbound tourism expense was USD 115 billion, up 5% on 2016. Some top outbound tourism destinations are Hong Kong, Macau, Taiwan, Thailand, Japan, Vietnam, South Korea, Singapore, the USA, and Italy.

US outbound tourism trip has reached 87.7 million, a rise of around 7.4% over last year. Some popular overseas destinations are Canada, Mexico, UK, Dominica, France, etc.

In Italy, top outbound tourism destinations are Rome, Naples, Venice, Florence, Verona, Bologna, Messina, Perugia, Palermo, Sicily, Genoa, Sicily, Sardinia, and Salento.

Russia outbound tourism trip has reached 39.6 million, with 39,629 thousand outbound tourists, in 2017. Outbound trips rose 25 percent compared to 2016. Some reasons such as a higher spend abroad; high expectation for customer service, Russian language services, key times for winter holidays and longer length of stay make Russian outbound travel market differs from others.

UK outbound tourism trips have reached 72.8 million, in 2017, a rise of around 3% over last year. UK’s top travel destinations are Spain, France, and Italy. Some other destination countries are the USA, Germany, Portugal, Poland, Netherland, and Greece.

Some advantages of outbound tourism are representing tools for development & progress, encouraging & promising field for investors, providing jobs, providing sources for taxes & hard currency, helping to develop rurally and removing obstacles etc. Some strength factors are involved numerous unique attractions, supporting the public opinion, long experience of tourist body, legislation & regulation organizing activities and the inauguration of tourist colleges &institutes etc. Additionally, some weakness factors are involved poor infrastructures, poor services, complicated facilities and absence of promotion & marketing activities etc.

The rise in the number of exempt visa agreements between China and other countries such as Morocco, Indonesia, Serbia, and Tunisia drove Chinese outbound tourism spending. French outbound tourists find Portugal more than just a ‘sun and beach’ destination and it is the main reason for the increase of outbound spending and trips to Portugal each year. French tourists visiting Portugal wish to purchase homes and enjoy the country’s authenticity and modernity. Additionally, the number of outbound trips from Russia to Turkey has improved drastically and Turkey became the most popular destination among Russian tourists in 2017. Previously, the growth of Russian travelers to Turkey stagnated due to the ban on Russian tour operators selling Turkish holiday packages and services to travelers looking to visit Turkey. The China Outbound Tourism Research Institute predicts that overseas trips by Chinese citizens will increase to more than 400 million by 2030.

To Know More, Click On the link below:-

https://www.kenresearch.com/media-and-entertainment/tourism/outbound-tourism-spending/157253-94.html

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Ken Research

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