Over the last decade, the number of overseas visitor arrivals for meetings and business in China has shown significant fluctuations. The period from 2013 to 2023 saw a mix of declines and recoveries, with the most dramatic drops occurring in 2014 and 2015. However, since 2016 there has been a general upward trend. In particular, the years from 2018 to 2023 displayed consistent growth, with 2023 standing at 660.68 ten thousand person-times, marking a year-on-year increase of 1.38% and a five-year CAGR of 1.45%.
The forecast for the years 2024 to 2028 predicts continued gradual growth in the number of overseas visitors for meetings and business. The five-year CAGR is expected to be 0.98%, signifying a steady trajectory, leading to a forecasted value of 702.94 ten thousand person-times by 2028.
Future trends to watch for:
- Impact of global geopolitical dynamics on business travel.
- Technological advancements in virtual meeting platforms possibly reducing the need for travel.
- China's policy directions and how they facilitate international business engagements.
- Potential effects of global economic stability or instability on travel budgets and frequency.
