China’s luxury travel market in 2025: slower growth rate will still be world’s largest

(jingdaily.com) - A new report by travel technology group Amadeus has a cautious outlook on the future growth of luxury trips taken by Chinese consumers based on the repercussions of China’s ongoing anti-corruption crackdown. The report, which looked at high-end travel trends across the globe, found that China’s luxury outbound travel market will experience larger overall double-digit growth at 12.2 percent compared to Europe’s until 2025. However, that growth will slow during this time period, while Europe’s will continue to steadily rise. The projected compounded annual growth rate for Europe until 2025 is 6.7 percent, while it’s 5.9 percent in the Asia-Pacific region. The trend, according to Amadeus, is attributed to China’s slowing economy, but also to a likelihood that Chinese travelers will be hesitant to over-expose their riches. “Fewer people want to be perceived as ultra-rich and attract scrutiny—as illustrated by the nation’s declining private jet market,” the report said. “In other words, luxury travelers in China are more conscious about flaunting their wealth, and will make travel choices accordingly.”