The recovery of Chinese tourism is critical to the recovery of the global tourism sector, as prior to the pandemic, Chinese tourists were the main contributors to the growth of the tourism sector worldwide, with spending rising from 8% in 2010 to 16% in 2019.
The Natixis report also calculates the potential increase in Chinese tourism in different markets based on their share of tourist arrivals or accommodation occupancy. These calculations are adjusted based on balance of payments data and differences in the tourism behavior of Chinese travelers in each market.
The United States, Spain, and France are the top destinations for international travel, while in the east, Australia, Japan, and Thailand have higher tourist arrivals. However, this does not mean that these countries have equal exposure to China.
The report estimates that the world could receive an additional $160 billion in annual tourism spending when international travel from China returns to normal. This would represent a significant opportunity for the global economy, especially for tourism-dependent countries and regions.
In summary, the recovery of Chinese tourism is critical to the recovery of the global tourism sector, as it represents a significant opportunity for the world economy.