China is set to overtake France as the world’s number one tourist destination by 2030 as a growing middle class in Asia looks to spend more on travel, according to experts at market research group Euromonitor International.
In a report published Tuesday, Euromonitor said it is predicting there will be 1.4 billion trips made in 2018, up 5% from last year. Stronger growth in many major economies mean industry receipts will rise by an estimated 11%.
By 2030, international arrivals are expected to have risen by another billion, corresponding to around USD 2.6 trillion in receipts. China is expected to have overtaken France by then to become the world’s number one destination.
Much of the sustained boom in travel and tourism, which has outpaced growth in the global economy for eight years, is centered in the Asia-Pacific region, where trips are expected to grow by 10% this year.
Euromonitor’s senior travel analyst, Wouter Geerts, said the gradual process of loosening visa restrictions has made travelling in the region easier, with 80% of arrivals in Asia originating from the region. He also said sporting events will likely further boost the region, with Tokyo hosting the 2020 Summer Olympic Games and Beijing the 2022 winter event.