2024-07-19
The “Europe-China Tourism Dialogue” was held in Hungary recently. Mr. Quim MARTINEZ, Vice President, Tourism Segment Global Lead, Mastercard, shared insights on the “Cross-Border Tourism Consumption Trends Report 2023-2024”. Here is an extract of his speech.
Today, we are unveiling a report that encapsulates our dedication and expertise. I would like to extend my heartfelt thanks to the World Tourism Alliance, Mastercard, Trip.com Group, and Alipay. Their unwavering support has been instrumental in the successful completion of this report. We have gathered extensive data, profound insights, and a wealth of knowledge to present the latest trends in cross-border tourism consumption. This report offers unique market value in comprehensive details.
First, let’s take a global perspective. Four major tourism trends stand out: 1. Economic growth is unleashing the potential for cross-border tourism consumption. 2. Experience and sports economies are fueling consumer vitality. 3. Tourists are placing greater emphasis on the cost-effectiveness of travel products. 4. The cross-border tourism market in the Asia-Pacific region is experiencing robust growth.
Focusing on China, the inbound and outbound tourism market is showing a promising recovery. In the first quarter of 2024, the number of inbound and outbound travelers in China reached 140 million, a year-on-year increase of 117.8%, restoring over 80% of the pre-pandemic levels of 2019.
Regarding outbound tourism, more tourists are starting to eye more distant destinations, with neighboring countries and regions still being the top choices for Chinese tourists in the post-epidemic era. The proportion of users booking flights more than 30 days in advance has decreased, mainly due to market uncertainties. Notably, island tourism has seen significant growth, with orders increasing by approximately 40% year-on-year. This trend reflects tourists’ pursuit of high-quality experiences. Another index corroborates this: in 2023, around 73% of Chinese tourists booked four-star or higher-rated accommodations, slightly higher than in 2019. When it comes to different travel product categories, spending on dining and entertainment has seen significant growth, while spending on shopping and accommodation has decreased. This indicates that tourists are increasingly valuing experiences over material consumption.
In inbound tourism, the first quarter of 2024 has shown a positive recovery trend. The main source countries for inbound tourism on the Trip.com platform include Japan, Malaysia, South Korea, the United States, Australia, the United Kingdom, Thailand, Vietnam, and Canada. Among them, five countries are from the Asia-Pacific region, with Japan being the fastest-growing source of tourists to China. On the European side, the number of tourists vising China from France, Spain, and Italy from January to April 2024 increased by about four times compared to the same period in 2023.
Italy, in particular, stands out as a best-practice case for attracting Chinese tourists. Post-pandemic, Italy implemented a series of measures aimed at drawing Chinese visitors, carrying out offline promotional activities and launching direct flights from second- and third-tier cities in China, reducing travel time and increasing convenience. They also provided tailored services for Chinese tourists, including Chinese-language guides at OUTLETS, Chinese tour information apps, Chinese signage at airports, and Chinese subtitles and hotlines. As a result, the growth rate of Chinese tourists traveling to Italy has been among the highest of all destinations. In 2023, the number of Chinese tourists to Italy recovered to 98% of pre-pandemic levels, with luxury goods spending increasing by 44%. During the May Day Golden Week in 2024, the transaction volume of Chinese tourists in Italy recovered to 75% of 2019 levels. Overall, Italy’s tourism industry has nearly returned to 2019 levels.
At this crucial historical juncture, we stand united and collaboratively weave the blueprint for the development of the tourism industry. Our goal is not only to drive the recovery of tourism but also to promote long-term development in a more sustainable and inclusive manner.