China’s inbound tourism revenue projected to reach US$470 billion by 2040: UBS

Revenue from inbound travel to China is forecast to reach US$470 billion by 2040, more than doubling its current share of the economy and helping offset weak domestic demand, according to UBS. Tourism from outside mainland China would expand to 1.5 per cent of gross domestic product (GDP) on a compound annual growth rate of 8.9 per cent from 2025, the Swiss investment bank estimated. China’s inbound travel revenue would represent 15 per cent of the world tourism market by around 2040, said Chen...