The Chinese travel market is exploding. As a startup it’s one of the most exciting spaces to be in. Independent travel now makes up over 70% of outbound travel from China and spending by Chinese travelers at destinations is up to $215B a year.
Despite the large number of technologies in China that allow easy booking of hotels and flights – there is still a lack of solutions to help Chinese travelers navigate their chosen destinations. Finding the local services & experience that truly elevate their trips with a special personal touch can be hard – that’s where we come in.
As chozun starts to reach new Chinese customers and serve them wherever they go, we are beginning to see some trends that will likely take flight in 2017. We’re sharing a few to watch out for.
1. Rise of Chinese Millennial (+80s & +90s) Business Traveler
As a trend in US Millennial Business Travelers now make up more than 50% of the Business Travel market – an increase that, according to Boston Consulting Group, wasn’t predicted to happen until 2020. In China, this is still skewed older but an increasing number of post-90s workers are looking for more from their jobs, including the ability to add the kudos of Business Travel to their social profiles. Sina News reports (Chinese) a recent study by Mycos Research Institute: “For the working post-90s generation, personal fulfilment goes above anything else.” In the coming months chozun will be releasing more insights on Chinese Millennial (+80s & +90s) Business Travelers from our data and survey.
2. Luxury Everywhere
It’s no secret Chinese shoppers love luxury but keeping up with what that means is an ever-difficult job. To a growing number of Chinese consumers luxury doesn’t just mean the big luxury brands and the most well-known travel spots. The excitement and status that comes with finding hidden high-end gems at destinations is what an increasing number of Chinese travelers are looking for. An exclusive event, pop-up or local experience is becoming part of the luxury lifestyle Chinese travelers want to match wherever they are.
3. More Diverse Destinations
Traditionally Macau, Hong Kong & Singapore are the most popular destinations for outbound Mainland Chinese travelers. However, a recent study by Agility Research and Strategy titled Asian Affluent Traveler Report: Generation AAA found that younger Chinese travelers are targeting France, Australia and the Maldives as top destinations. We expect this to diversify even further in 2017 as Chinese travelers become more adventurous and discover other exciting destinations.
4. Demand for Better Personalization
Following on from what the new luxury looks like, an increasing number of Chinese consumers are looking to find information specific to them on the next best must have, must do or must go. Understanding the individual taste profile has become more important, especially in a market where mass has been the norm until relatively recently. As Luxury Daily discussed in their Chinese travel June 2016 report “The digital natives aged between 18 and 36 years old want a more personalized experience, including superior guest services and smart device integration.”
5. Increased Market Share for the Big Players
With C-trip’s acquisition of Skyscanner to increase it’s reach and coverage as well as it’s “merger” with Qunar this year, the online Chinese travel giant looks to increase it’s stronghold. Don’t be surprised to see them dipping their toes into other acquisitions and mergers in a number of non-traditional travel spaces next year. Choices may be fewer when booking your travel online as a Chinese consumer in 2017!