Traveltrend - Marketing in China: In the Red Zone with Rossella Pfundt

#Travelcast

As their numbers continue to grow, Chinese outbound tourists areundergoing significant changes in travel preferences, behaviors, and spending patterns. However, numerous myths and outdated impressions of Chinese tourists persist in the tourism industry. The Chinese digital market has the highest amount of internet users in the world, making it an attractive market for any brand to enter. We help brands who are seeking to grow within the Chinese market harvest its full potential through a holistic approach and thorough planning, as Chinese audiences are different not only demographically, but also the way they think compared to western customers. In this last #travelcast episode, I had the pleasure of interviewing Rossella Pfundt, a consultant and expert for the Chinese market. China is the world’s largest outbound travel market when measured by trips and expenditures. As of 2015, Chinese tourists took 4 billion domestic tourism journeys and 117 million outbound trips; outbound trips are expected to reach 160 million by 2020. In 2017, Chinese outbound tourists took approximately 131 million trips.3 More than 70 percent of Chinese tourists travel with family and friends, and they exhibit the highest international spending per trip among global travelers. In addition, Chinese outbound tourism market expenditures are expected to grow by a compound annual growth rate (CAGR) of 5.4 percent, reaching more than $315 billion a year in 2020 The number of outbound trips from China more than doubled from 2010 to 2015, growing at a CAGR of 15 percent.