This Chinese New Year (January 27 – February 2), get ready for more than 6 million Chinese outbound travelers to be heading your way.
With Chinese New Year being a peak period for Chinese to travel out of China – and the fact that 42% of Chinese buyers intend to property hunt during their trips abroad – this makes for a potential windfall for global real estate markets.
We take a closer look at the top 10 holiday (and potential investment) destinations for Chinese outbound tourists this Golden Week.
Southeast Asia is hotter than ever with Chinese travelers this Chinese New Year, and this is in line with findings in Juwai’s recent Southeast Asia Chinese Property Report that show Southeast Asia to be the next darling destination for Chinese real estate buyers as well.
Top of the list is Thailand, which expects to welcome some 240,000 mainland Chinese visitors during the Chinese New Year holiday period, as well as another 149,000 Chinese tourists from Hong Kong, Taiwan, Singapore, and Malaysia.
Elsewhere in Asia, Japan continues to score highly as a Chinese New Year travel hotspot, which heralds good news for the Japanese property market this Golden Week.
Despite China’s economic slowdown, the sudden rise of the Japanese yen, and the Kumamoto earthquakes, a record 6.37 million Chinese visited Japan last year and spent an estimated ¥1.48 trillion yen there.
It’s not all about Asia, though, because the US has become more popular than ever for outbound travelers from China this Spring Festival 2017.
2016 saw a record number of 2.17 million Chinese visitors to the US between January and August 2016 – up 15.5%, says China’s National Tourism Administration. This upsurge in Chinese arrivals to the US ties in with Juwai Data, which shows the US continuing its reign as the #1 investment destination for Chinese buyers.
Combined with its enduring appeal and the strong Chinese demand for trips to the US this Spring Festival, the US looks set to benefit from this year’s Chinese New Year Golden Week too.
All these indicate that the 2017 Chinese New Year Golden Week is shaping up to be bigger than ever, and this is prime time to capitalize as Chinese travelers head overseas in greater numbers than before.
With this in mind, it’s time to take a proactive approach to maximize your appeal and reach into the China market for the coming Chinese New Year sales season.