24 Apr Insight Report: 2019 Chinese Outbound Travel Market Review
Chinese outbound travelers are a deep current in the global economy. They are evolving fast as younger generations become the main consumption force. In 2019, the overall number of outbound trips reached 155 million, of which 60% were booked through Online Travel Agencies (OTAs).
Leveraging the big data pool of Trip.com Group, the largest OTA in China with ~60% of market share, combined with AI-powered online research tools, Fabernovel analyzed the changing preferences of this key consumer segment and strategies that brands designed to target and engage with them.
This study is an opportunity to maintain perspectives during troubled times. There are some strong signals identified in the study and weak signals that can shed some light into the evolution of the Chinese outbound travelers when life gets back to normal.