IFCOT2015 - The number of Chinese tourists will rise 16 times over 20 years
The number of Chinese tourists will rise 16 times over 20 years.
CEO of Baltic Travel Group Vlad Koriagin has attended as guest panel speaker The 11th International Forum on Chinese Outbound Tourism (IFCOT2015) & Silk Road Tourism Cooperation Forum.
A total of over 350 delegates, from embassies in China, destinations’ tourist boards, hotel group, airline group, MICE companies, Chinese leading travel groups, outbound tour operators, and over 50 media, attended the forum.
With the rise of personal incomes and living standards, the outbound tourism market grows by leaps and bounds. Chinese people are eager to go sightseeing overseas which creates an immense market for foreign countries.
n 2014, the number of outbound tourists reached 107 million. According to a forecast by Bank of America Merrill Lynch some 174 million Chinese outbound tourists are expected to spend $264 billion by 2019. It’s predicted that by 2019 both the number of tourists and their spend will have increased by around 60% over 2014.