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The Rapid Rise of China's Outbound Millions

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The Rapid Rise of China's Outbound Millions China Outbound The Rapid Rise of China’s Outbound Millions PromPeru Workshop March 30, 2017 Cees Bosselaar Vice President Business Development The Rapid Rise of China’s Outbound Millions © 2016 Phocuswright Inc. All Rights Reserved. 2 Beijing Shanghai Guangzhou Shenzhen Source: PhoCusWright's China Consumer Travel Report Kunming 4 Kunming 3.5Mil Source: PhoCusWright's China Consumer Travel Report 5 Kunming 3.5Mil Source: PhoCusWright's China Consumer Travel Report 6 Travel is our world. PhoCusWright is the global travel research authority on how travelers, suppliers and intermediaries connect © 2013 PhoCusWright Inc. All Rights Reserved. 7 PhoCusWright Global Sizing Methodology Across Six Regions Global travel gross bookings share by region 27% 8% 25% 6% 27% 7% The Middle East Source: Phocuswright’s Global Online Travel Overview Third Edition Eastern Europe & Russia © 2015 Phocuswright Inc. All Rights Reserved. 9 Across Six Regions Global Online travel share by region 6% 35% 31% 4% 21% 4% The Middle East Source: Phocuswright's Global Online Travel Overview Third Edition Eastern Europe & Russia © 2015 Phocuswright Inc. All Rights Reserved. 10 Online Travel Penetration by Region, 2011-2015 50% 40% Europe 30% U.S. APAC 20% Eastern Europe Middle East 10% Latin America 0% 2011 2012 2013 2014 2015 Note: 2013-2015 projected. Source: Global Online Travel Overview Third Edition © 2015 Phocuswright Inc. All Rights Reserved. 11 China’s outbound travelers Are literally breaking new ground © 2016 Phocuswright Inc. All Rights Reserved. 12 Not just traveling farther and spending more. © 2016 Phocuswright Inc. All Rights Reserved. 20 But also experimenting with how they experience the world. © 2016 Phocuswright Inc. All Rights Reserved. 21 And bringing their tech-savvy, mobile- loving habits with them as they explore further and further from home. © 2016 Phocuswright Inc. All Rights Reserved. 22 Phocuswright undertook a comprehensive study of Chinese travelers’ habits, spend and preferences. China Unbounded: The Rapid Rise of China’s Outbound Millions • Analyses traveler behavior, attitudes and intentions. • Provides in-depth segmentation across a wide array of characteristics, from trip types to income levels and travel experience • Explores the travel life cycle across devices and platforms. © 2016 Phocuswright Inc. All Rights Reserved. 23 Methodology . Survey fielded online in 2016 . Average length of survey was 23 minutes . About 25,000 people participated in the survey with 3,143 qualified . Qualifying respondents: Adults 18+ years of age Took at least one leisure trip outside of mainland China in the past year Played an active role in planning their trips Source: Phocuswright Inc. © 2016 Phocuswright Inc. All Rights Reserved. 24 Sample Size . Quota was set in survey fielding to ensure enough sample for each destination region . Results are weighted by age and gender against online population, and also by shares of Chinese outbound trips to each destination . Overall unweighted sample size: 3,143 Travelers to Americas: 541 Travelers to Europe: 573 Travelers to Northeast Asia: 515 Travelers to Southeast Asia: 476 Travelers to Greater China: 523 Travelers to AUS/NZ: 515 Source: Phocuswright Inc. © 2016 Phocuswright Inc. All Rights Reserved. 25 Definitions . Long-haul vs. Short-haul travel Short-haul is defined as travel within Asia, including Hong Kong, Macau, Taiwan, Southeast Asia and Northeast Asia. Long-haul includes travel to the Americas, Europe, Australia and New Zealand. Sample includes significant representation beyond Beijing, Guangzhou, Shanghai and Shenzhen, to include respondents from Tier 2 and 3 cities . City tiers First-tier: Beijing, Shanghai, Guangzhou, Shenzhen Second-tier: Changchun, Changsha, Chengdu, Chongqing, Dalian, Fuzhou, Harbin, Hangzhou, Jinan, Nanjing, Ningbo, Qingdao, Shenyang, Suzhou, Tianjin, Wuhan, Wuxi, Xiamen Source: Phocuswright Inc. © 2016 Phocuswright Inc. All Rights Reserved. 26 Size of the Market and Outlook for Travel 120 Leisure trips outside of China million in 2015, according to CNTA Source: Chinese National Tourism Administration (CNTA) © 2016 Phocuswright Inc. All Rights Reserved. 28 47% of Chinese travelers took outbound leisure trips in 2015 For 23% of them, it was their first trip outside of Mainland China Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc. All Rights Reserved. 29 Total Outbound Travel Spend, 2015 $205.7 billion Dining Air 6% 10% Other (Rail, Coach, Cruise, Car) Lodging 2% Shopping 9% 22% Destination activities 3% 1.3 trillion RMB Vacation packages 650 billion PEN 48% Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc. All Rights Reserved. 30 Spend on Standalone Travel Products* 2015 Dining 20% Air 33% Destination activities 10% Other (Rail, Coach, Cruise, Car) 7% Lodging 30% Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project *Share of spend on products bought individually, whether the traveler also purchased a vacation package or not © 2016 Phocuswright Inc. All Rights Reserved. 31 © 2016 Phocuswright Inc. All Rights Reserved. 32 2015: Chinese stock market crashes Most dramatic devaluation of Chinese yuan in two decades 2016: Stock market circuit breaker incident Annual growth fell to 6.7% Overcapacity and service sector problems © 2016 Phocuswright Inc. All Rights Reserved. 33 What does all this mean for outbound travel? Future Travel Intent 2013 vs. 2015 2015: Budget for 6% 8% 28% 58% INTERNATIONAL trips 2013: Budget for 11% 7% 28% 55% LEISURE trips 2015: Number of 6%3% 36% 54% INTERNATIONAL trips 2013: Number of 10% 5% 30% 55% LEISURE trips Not sure/Not applicable Less/Lower No change More/Higher Question: A15: What adjustments, if any, do you expect to make to your international leisure travel plans over the next two years (compared to the past 12 months)? Base: Chinese Outbound Travelers: (N=3,043) Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project Source: Phocuswright’s China Consumer Travel Report, 2013 © 2016 Phocuswright Inc. All Rights Reserved. 35 Future Travel Destinations Outside of China 46% Northeast Asia (e g , Japan, Korea) 34% 43% Hong Kong, Macau, Taiwan 31% 43% Australia/New Zealand 40% 40% Europe 50% Southeast Asia (e g , Thailand, Singapore, Malaysia) 40% 29% Short Haul 37% Long Haul United States/Canada 46% South and Central Asia (e g , India, Maldives, Nepal, 22% Kazakhstan) 19% 9% Central or South America 14% 5% Mexico or the Caribbean 9% 5% Africa or the Middle East 9% Question: A17: What regions outside of Mainland China will you likely visit in the next two years? Select all that apply Base: Chinese Outbound Travelers: (N=3,043) Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc. All Rights Reserved. 36 Young, Rich and (Increasingly) Experienced Income, by Age 34% 33% 27% 27% 23% 23% 23% 23% 21% 22% 21% 22% 19% 14% 15% 14% 11% 10% 10% 8% 18-24 25-34 35-44 45+ <8,000 Yuan 8,000 - 9,999 Yuan 10,000-14,999 Yuan 15,000-19,999 Yuan 20,000+ Yuan Question: SA: How old are you? SD: What is your approximate total monthly household income? Select one Base: Chinese Outbound Travelers: (N=3,043) Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc. All Rights Reserved. 38 Outbound Travel by Age/Income Percent Who Took an Outbound Trip Last Year Total 47% 18-24 37% 25-34 53% 35-44 53% 45-54 39% 55+ 37% Under 4,000 RMB 12% 4,000 – 5,999 RMB 22% 6,000 – 7,999 RMB 28% 8,000 – 9,999 RMB 40% 10,000 – 14,999 RMB 58% 15,000 – 19,999 RMB 78% 20,000+ RMB 83% Question: Eb. How many leisure trips did you take to the following places in the past year? Base: Chinese online survey respondents (N=23,192) Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc. All Rights Reserved. 39 Lifetime Average International Trips By Last Trip Destination 6.88 6.04 5.2 4.82 Overall Greater China NEA/SEA Long Haul Question: SF: How many times have you traveled outside of mainland China, Hong Kong, Macau and Taiwan in your life, including your most recent trip? Base: Chinese Outbound Travelers: Hong Kong, Macu, Taiwan: (N= 528); Northeast Asia (N=538); Southeast Asia (N=487); Australia/New Zealand (N= 446); Europe (N=490); Americas (N=497) Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc. All Rights Reserved. 40 Life Time International Trips by City Tier 1 trip 2 trips 3+ trips Mean: 5.2 6.0 4.9 4.9 56% 61% 62% 65% 20% 21% 24% 20% 23% 18% 14% 15% Overall Tier 1 Tier 2 Other Question: SF: How many times have you traveled outside of mainland China, Hong Kong, Macau and Taiwan in your life, including your most recent trip? Base: Chinese Outbound Travelers: (N=3,043) Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc. All Rights Reserved. 41 Leisure Trips Last Year by Income International Domestic 6.0 4.9 4.9 4.4 4.3 4.6 3.7 3.1 3.1 3.0 3.0 2.9 2.3 1.8 1.7 1.4 1.4 1.5 Overall <8,000 Yuan 8,000 - 9,999 10,000-14,999 15,000-19,999 20,000+ Yuan Yuan Yuan Yuan Question: SE: How many leisure trips did you take in the past year. Base: Chinese Outbound Travelers: (N=3,043) Source: Phocuswright’s China Unbounded: The Rapid Rise of China’s Outbound Millions Special Project © 2016 Phocuswright Inc.
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