China, Japan, South Korea target 40M tourists by 2030

What happened On September 11, tourism ministers from China, Japan, and South Korea gathered in Kobe, Japan for their 10th annual meeting, setting an ambitious target: 40 million mutual visits between the three nations by 2030. This latest agreement focuses on restoring pre-pandemic tourism levels by 2025 through enhanced collaboration on tourism promotions, increased direct flights, and data sharing to address industry challenges. Meanwhile, global tax-free shopping is seeing a strong resurgence, with Chinese tourists leading the recovery. Tax refund giant Global Blue reported a 25% increase in tax-free spending by Chinese travelers across key European and Asia-Pacific markets. Ctrip, China’s leading online travel agency, is jumping onto this momentum, with its international platform Trip.com reporting a 70% jump in revenue in Q2 2024, driven largely by Asia-Pacific demand. The Jing Take Renewed cooperation between China, Japan, and South Korea comes at a critical time for the mainland’s tourism industry. After years of pandemic-related travel restrictions, Chinese outbound tourism is surging back in full swing. While the tourism minister meeting may seem like routine diplomacy, the targets set speak to something larger: a desire to reignite the flow of travelers and experiences that once defined tourism and cultural exchanges across East Asia. For China, the ambitious goal of 40 million mutual visits by 2030 presents both opportunity and challenge. Prior to the pandemic, outbound Chinese tourists were already a prized demographic, known for their high spending habits, particularly in South Korea and Japan. The surge in global tax-free shopping revenue, led by Chinese travelers, signals China’s impactful return to the international travel stage. But this also puts pressure on the country to improve its tourism offerings, ensuring inbound visitors find the country as appealing. This renewed focus on East Asian tourism, backed by concrete steps like boosting flight routes and promoting local attractions, could bring China, Japan, and South Korea closer than ever. As travelers from these nations once again explore each other’s cultural offerings, the question isn’t just about reaching the 40 million target, but how the greater region will adapt to evolving expectations around sustainability, convenience, and personalization. China, as both a major source of outbound tourists and a growing destination, will undoubtedly be at the heart of this transformation. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

China, Japan, South Korea target 40M tourists by 2030

On this page

Published September 23, 2024

Sectors

Insights

Company

China, Japan, South Korea target 40M tourists by 2030