The Zhitong Finance App learned that Chen Xin, head of China's leisure and transportation industry research at UBS Securities, said that it is expected that the number of international flights in China will continue to increase next year. As airlines purchase more large Boeing airliners, the number of flights between China and the US may also increase, increasing China's market share in North America. On the other hand, as overseas travelers deepen their understanding of China, destinations will expand to second- and third-tier cities such as Hangzhou and Nanjing, and the mainland has many high-end manufactured products such as cameras and mobile phones that are 20% to 30% cheaper than overseas, which are expected to attract consumption.
Chen Xin said that passenger traffic in the mainland tourism industry has remained resilient this year, and inbound tourism growth has accelerated markedly, mainly due to domestic environmental safety, the increase in China Airlines' flights to and from Europe and the US, and cheaper air tickets and hotels compared to overseas, attracting more overseas travelers. The growth rate of inbound tourism in the mainland is expected to remain around 20% next year.
Chen Xin pointed out that this year, due to various special factors such as the war in the Middle East, Thailand, and Japan, etc., the growth rate has slowed down, and the number of flights between China and Japan has dropped to half of last year's level. At the same time, with the increase in mainland flights to Europe, America, and Australia, it is expected that the mainland's outbound travel records will increase in the number of units this year. The expected growth rate is about 10% next year. The destinations are mainly South Korea, Japan, Malaysia, and Singapore. Australia's growth rate will be relatively fast.
Chen Xin added that at present, mainland people are no longer considering shopping as their primary travel consideration, and are focusing on sightseeing, tasting food, and understanding local customs. He expects residents to travel on long vacations, which will drive duty-free sales at airports during the same period, as well as China Airlines sales.