According to the business intelligence report titled ‘China Outbound Tourism Market 2019 ? 2025’, available with MarketStudyReport, China outbound tourism market is projected to be worth USD 270 billion by 2025, expanding substantially between 2021-2025.
 

For the unaware, MICE stands for meetings, incentives, conferences, and exhibitions. It is a segment of the tourism industry which is primarily focused on travel arrangements for large groups of people for large scale events, conferences, and seminars. 
 

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The research report includes in depth information pertaining to traveler flows, spending patterns, and main destination markets. It elucidates primary drivers and present & future opportunities as well.
 

Furthermore,  it elaborates on challenges faced by leading companies in this business sphere and provides measures to subdue their impact. The market is studied at both macro and micro levels by fragmenting it into various segments. Estimated growth rate, market share captured, sales amassed, revenue garnered, and profit margins of each segment is given in the study.
 

A deep dive examination of the industry as per destination is provided after a thorough comparison of past records and current data. Essential data regarding current and future tourism developments in the business sphere are included to enable market partakers to make accurate decisions to maximize profits and strengthen their foothold in this domain.
 

As per the report findings, China outbound tourism market is slated to expand significantly between 2021-2025 and contribute massive revenues to the global travel industry. Moreover, China recorded 160 million outbound tourists in 2020 and is the largest source market for Southeast Asian economies. It is also one of the fastest growing outbound MICE tourism markets across the globe. Meanwhile, the U.S. is the most popular destination for Chinese tourists.
 

United States, Dubai, Canada, Hong Kong, Philippines, Macau, Thailand, Malaysia, Vietnam, Indonesia, Singapore, Japan, Korea, Cambodia, Taiwan, Spain, India, Germany, France, Italy, United Kingdom, Turkey, New Zealand, Australia, Nepal, and Sri Lanka are the key destinations studied in the document.