The Boston Consulting Group and TripAdvisor China came out with a good report on Friday that details how Asia is poised to greatly increase its share of the global travel business.
Some 49% of passenger traffic globally will be within the Asia-Pacific region or between the region and the rest of the world, up from 37% today, said the report titled "Winning the Next Billion Asian Travelers – Starting with China."
China's travel market will grow at a compound annual rate of about 11% from 2012 to 2030, said the survey.
International hotels chains will increasingly face off against rapidly growing Chinese chains such as Home Inns and 7 Days Inn; listed online travel services such as Ctrip and Qunar, a subsidiary of search giant Baidu , are in line to benefit, too. Qunar went public on the Nasdaq last month, gaining 89% on its first day of trade.
Though far from China, the U.S. is seen as a good place to visit by young affluent mainland travelers, the survey found. Chinese visitors will account for 9% of visitors to North America by 2020, up from 4% today.
Source: Forbes
