China is predicted to be the biggest outbound tourism market of the emerging BRIC (Brazil, Russia, India, and China) economies with a total of 20 million trips until 2015, reveals the Euromonitor International report, which was launched at the first session of the World Travel Market (WTM) Vision Conference.
China is the key emerging market the travel and tourism industry should focus on over the next five years, reveals new research at yesterday’s inaugural WTM Vision Conference-Milan.
The Travel and Tourism Global Overview report looks at the absolute increase in outbound travelers from a number of leading markets. China leads the way for the BRIC economies, with a total of 20 million new outbound departures between 2010 and 2015. Russia comes next with an increase of nearly 12 million and India with more than 9 million.
Brazil fares less well with only 2 million new trips forecast, although its focus during the period will be on attracting inbound travelers, driven by its hosting of the FIFA World Cup 2014 and the 2016 Rio de Janeiro Olympic and Paralympic Games.
“More than 40 countries are now predicted to have more than 1 million additional outbound trips over the next five years, with many from the Middle East and Asia Pacific, home to growing middle classes, keen to travel and explore overseas,” Euromonitor International Travel and Tourism Industry Analyst Angelo Rossini told delegates at the WTM Vision Conference–Milan held at the Italian Stock Exchange.
Arrivals between 2010 and 2015 were also studied. Again, the US and China lead the way with an absolute growth in visitors of 18.6 million and 17.8 million respectively. In dollar terms, the US will benefit to the tune of US$49.4 billion, with China’s income from the new arrivals US$15.9 billion.
“All inbound and outbound travel businesses need insight into the key markets of Brazil, Russia, India, and China, and these new figures provides a valuable and intriguing insight,” said World Travel Market Chairman Fiona Jeffery, “The first WTM Vision Conference–Milan event has been a great success with a thought-provoking session on social media and a lively debate on the Italian and European travel markets.”
As part of the WTM Vision Conference’s proposition, all delegates received the full Euromonitor International Travel and Tourism Global Overview report, worth £1,000, free of charge as part of their attendance fee.
The next WTM Vision Conference – WTM Vision Conference–Dubai – takes place on May 3 at the Arabian Travel Market before the WTM Vision Conference London on May 25 at the UK Confederation of British Industry’s London headquarters.