China’s Inbound Tourism Revenue Could Reach $470 Billion by 2040, UBS Says
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As of November, China had extended unilateral visa-free entry to citizens of 50 countries. Photo: VCG
China’s inbound tourism revenue could reach $470 billion by 2040, more than doubling the sector’s contribution to GDP from 0.65% to 1.5%, UBS Securities Co. Ltd. forecast in a report released Tuesday.
Chen Xin, the brokerage’s head of China leisure and transportation research, projected compound annual growth of 8.9% in inbound tourism revenue from 2025 to 2040, compared with 4.8% for domestic tourism. China could account for about 15% of the global market by 2040.
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