The report, conducted for the travel agency Amadeus by the consultancy group Oxford Economics, found that the travel industry will grow at a faster rate than the global economy over next 10 years, in large part thanks to China and other major emerging countries such as India, Indonesia, Russia and Brazil.
“The global travel industry is poised for a period of sustained growth over the next decade, driven in part by China’s share of global outbound travel reaching as much as 20% by 2023,” Amadeus said in a statement.
The rapidly growing middle class in China will make the country overtake the United States as the world’s largest outbound travel market this year and the biggest domestic travel market in 2017, the report said. The report suggests the global…
View original post 110 more words