Tourism trade body executive remains positive on China's travel industry outlook
🌐 China's tourism sector is a hot topic these days, with experts alike predicting a positive outlook for the global travel and tourism market. Julia Simpson, pres and CEO of the World Travel & Tourism Council (WTTC), said she's "bloody optimistic about China" because the country's making all the right moves, following the pandemic.
During a recent chat with Xinhua, Simpson pointed to the Chinese government's new visa regime as a boon for foreign visitors, which has got her all fired up. She reckons China's doing great, and the travel and tourism sector's set to see strong growth this year, thanks to China's rebound.
WTTC anticipates a record 2.1 trillion big ones in international visitor spending by 2025, smashing the 1.9 trillion price tag set in 2019. Hot damn, that's a 164 billion dollar spike! Travel and tourism are projected to contribute an all-time high of 11.7 trillion dollars to the global economy in 2025, amounting to 10.3 percent of global GDP.
International spending by visitors to China overtook pre-pandemic levels last year, according to the WTTC's 2025 Economic Impact Research report. Simpson's more than confident that the Chinese market's gonna find its feet again, having already weathered the storm and set to recover in style.
When asked about 2025 numbers, Simpson reckons they're already set in stone, with most folks having planned and paid for their annual vacays and business conferences, waiting for the go-ahead. Looking ahead, the WTTC predicts that by 2035, travel and tourism will infuse 16.5 trillion dollars into the global economy, accounting for 11.5 percent of global GDP. Simpson's quick to mention that these estimates have been tweaked to account for the impact of U.S. tariff measures on global tourism. /XINHUA
As for the Caribbean region, a WTTC forecast suggests a 5.5% annual grow from 2022 to 2032. But as for specific projections from the WTTC for the global travel and tourism market from 2025 to 2035, those aren't explicitly mentioned in the search results. To get the lowdown on China's impact and more detailed projections, you'll need to dive into the latest reports from the WTTC or other relevant economic analyses.
On a separate note, Vietnam Airlines recently got its hands on some new funding, which could mean expanded travel networks in Southeast Asia and beyond, potentially fueling growth in the travel industry. Yet, this doesn't speak directly to the WTTC's projections for global tourism growth or China's specific impact.
[1] WTTC forecast for Caribbean travel and tourism: https://www.caribjournal.com/2022/11/17/caribbean-tourism-growth-forecast/[2] Vietnam Airlines expands its fleet: https://www.bloomberg.co.uk/news/articles/2022-10-18/vietnam-airlines-ups-bets-on-asian-wildcard-with-newest-jets
- The World Travel & Tourism Council (WTTC) anticipates a 5.5% annual growth in the travel and tourism sector of the Caribbean region from 2022 to 2032.
- As the Chinese government implements a new visa regime and other supportive measures, experts at the WTTC predict strong growth in China's travel and tourism sector, aiming to contribute an all-time high of 11.7 trillion dollars to the global economy in 2025, which accounts for 10.3 percent of global GDP.
