TOURISTS TO AFRICA FROM THE BIGGEST OUTBOUND MARKET DOUBLE IN 12 MONTHS
According to the China Outbound Tourism Research Institute, 122 million Chinese people travelled abroad in 2016. Also, the spending power of Chinese travellers is 40% higher than that of their European counter parts, making China the world’s top and highest spending outbound tourist market by some way.
- #TourismFact: 56% of China’s outbound tourists are female
(Source: China Tourism Academy)
Focusing on Africa, the number of Chinese travellers to the continent only accounted for 3% of total outbound tourists in 2008. Since 2010 though, the number of Chinese travellers into Africa has grown at an average of 50% each year. This figure rose by 10% with 11.3 million Chinese travelling to the continent in 2016, according to the Cankaoxiaoxi website.
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South Africa does not feature in the top 20 most popular destinations for Chinese tourists. Do you think the latest National Tourism Sector Strategy will elevate us to this lucrative list?
But…China to limit overseas investment – hospitality sector added to restriction list
According to the Hotel Management online publication, China has implemented measures to limit and restrict extensive overseas investments made by Chinese domestic groups. China’s State Council has released a guideline that it says will promote healthy growth of overseas investment and which will prevent risks to Chinese investors. Sectors on the restriction list include real estate, hotels, entertainment, sport clubs, outdated industries and projects in countries with no diplomatic relations with China. According to The Wall Street Journal, China’s outbound direct investment outside the financial sector declined 44.3 percent over the first seven months from a year earlier, with investment in property and entertainment down by 81.2 percent and 79.1 percent, respectively. Click here to read the full story.