What do you know about Chinese tourists?
David Thomas is an expert on doing business in China. With a successful history of forging global business relationships, David helps leaders,
entrepreneurs and investors solve the China puzzle. As part of that, he’s launched a daily email newsletter ‘China Bites’ which you can read here on Targeting China.
McKinsey & Co. have released an intriguing new report on Chinese Tourists under the heading of “Everything you know about Chinese tourists is wrong” following a recent survey in which they “analysed China’s outbound tourists’ preferences and behaviours, financial status, consumer decision-making process, and consumption patterns”.
There are too many valuable insights and conclusions from this survey to attempt to summarise them all here, but my eyes were drawn to the 8 different segments (“archetypes”) identified from the research which dispels many myths about what were once regarded as a somewhat monolithic group. The 8 segments are:
Bearing in mind that Chinese travellers took more than 31 million trips overseas in 2017, a number which is expected to grow to 160 million by 2020, it’s going to be important for tourism, retail, healthcare, education and most services businesses to study and understand each of these segments much better.
If this is a topic of interest to you, I highly recommend you download their new report: “Chinese tourists: Dispelling the myths“