In less than two decades China has grown from travel minnows to the world’s most powerful outbound market, leapfrogging the US – and leaving it in its wake. The emergence of an affluent middle class and an easing of movement restrictions for locals and foreign visitors are both supporting this travel boom.
The Chinese tourism market has transformed into one of the world’s most-watched inbound and outbound tourist markets. It was estimated that the number of domestic trips in China would increase to about 2.38 billion trips by 2020, indicating an increase of over 50 percent compared to the number of trips made within China ten years ago.
This boom has huge implications for the global tourism economy. The amount that Chinese tourists spend abroad exceeds the country’s reported trade surplus. Further growth in tourism will help create jobs and stimulate investment globally.
Singapore: most visited by Chinese travellers
The increase in tourist numbers from mainland China is reflective of the increase in outbound tourist numbers as shown in the figure above. According statistics presented by the Singapore Tourism Analytics Network, the report compared the top 3 countries that pass through our borders for purposes of leisure. As shown, the number of tourists Singapore receives from China not only progressively increases by year, but the number also surpasses the tourists that the city state receives from Indonesia and India.
Aleta Planet recognises that the increase in travellers from and to China offers us all a great opportunity, however, there is a gap in local merchants lacking the systems to receive payments from increasing Chinese consumers.
Aleta Planet provides a one-stop shop to power businesses to be able to accept payments from more than 7.4 million Chinese customers. We at Aleta Planet always strive to be able to bridge the gap between businesses and their consumers – to accept payments from UnionPay, WeChat Pay, Diners Club and JCB card holders.
Travel can create peaceful, respectful international exchange even in trying political times. While tourism industries across the globe are being hammered by the biggest pandemic in modern history and a full recovery before 2022 may not look likely, past statistics such as these do show some hope for industries to prepare for the return of the Chinese Traveller.