Journeys to the west

The rise of the Chinese traveller

Friday 31 January 2014

Report

The classic Ming Dynasty novel “Journey to the West” tells the tale of Xuanzang, a Chinese monk trekking to India to study Buddhist scriptures alongside a colourful collection of magical characters. Nearly 1,400 years after Xuanzang’s journey, the world’s most populous nation is again on-the-move.

The number of outbound Chinese travellers has been rapidly growing, with trips set to exceed 100 million for the first time in 2014, then double to 200 million over the next five years as China’s rising middle class emulates Xuanzang’s example in seeking enlightenment and adventure abroad (plus, perhaps, just a bit of shopping). Growing passenger numbers and high “per pax” spending (in the top five of all nationalities) have rocketed the Chinese to the top of the league tables for total travel retail spending. Consequently, the rise of the outbound Chinese traveller has been one of the most exciting stories in international retail over the last several years. 

Read publication

Experts in this insight:

Suggested reading

Friday 10 December 2010

Consolidation prize

B2C Services is big business – around £80bn in the UK alone – but in contrast to retail, most B2C services markets are highly fragmented: the top players in aggregate often account for less than 20% of share, and independents thrive

Wednesday 26 June 2013

Keep up!

Early entrants are reaping rewards: global CPG Players are already active. 36 of the OC&C Global 50 Leading Consumer Goods companies have an active presence in Sub-Saharan Africa

Monday 09 January 2012

Marrying the dragon

In recent years, China has played a greater and greater role in the cross-border merger and acquisition market. Outbound M&A activities have been accelerating since 2008. By 2011, the value of outbound M&A transactions has exceeded that of inbound by 70%

Wednesday 27 April 2011

Opportunity knocks

For many years, the education sector has been poorly understood, captured as a subset of business services or the media sector. Education does however deserve more attention

We use cookies to give you the best possible experience on our website. By continuing to browse this site, you give consent for cookies to be used. For more details please read our Cookie policy.