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France and China Travel & Tourism Sector

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					       China & France Travel and Tourism
                Industry to 2017


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China Travel and Tourism Sector
After the relatively slow growth of 7.8% in 2012, the lowest annual rate of expansion since 1999, the
economy is expected to stabilize with annual growth edging up to an average of 8% over 2013–17.
This reflects continued urbanization and industrial upgrading. The economy is also expected to
become more balanced, assuming that the government’s policy measures, which include greater
rural social welfare, are successful in boosting domestic consumption.

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Key highlights
After the relatively slow growth of 7.8% in 2012, the lowest annual rate of expansion since 1999, the
economy is expected to stabilize with annual growth edging up to an average of 8% in 2013–17. This
reflects continued urbanization and industrial upgrading. The economy is also expected to become
more balanced, assuming that the government’s policy measures, which include greater rural social
welfare, are successful in boosting domestic consumption.
Domestic tourist volume increased from 958.8 million tourists in 2008 to 1.6 billion in 2012, at a
CAGR of 14.02% during the review period. Over the forecast period, trip volumes will increase at a
CAGR of 13.83% to reach 3.1 billion by 2017. The key growth drivers over the forecast period will be
increased wealth and leisure time, and an improved transport network. Over the forecast period,
domestic tourist expenditure is expected to increase at a CAGR of 26.17%, to reach CNY7.8 trillion
(US$1.2 trillion) by 2017.

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France Travel & Tourism Market
France’s economy contracted marginally in 2012, owing to weak private consumption and
investment. Gross capital formation weakened sharply from 7.8% growth in 2011 to 4.9% contraction
in 2012, mainly due to weak investor confidence. Owing to a deceleration in disposable income and
fiscal austerity measures, private consumption also contracted by 0.2% in 2012, following 0.3%
growth in 2011. Although exports recorded a growth of 2.3% in 2012, this was down from 5.3% in
2011. The French economy is expected to contract again in 2013, followed by a modest recovery in
2014.

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Key highlights
The domestic tourism sector plays a vital role in France’s economy. In 2012, France registered 200.4
million domestic trips, while the volume of outbound trips measured 25.9 million. Domestic trip
flows are high compared to inbound trip volumes. Key festivals include Easter, Christmas and New
Year, periods when many French citizens return to their hometowns to visit family and friends.
The average expenditure per domestic tourist decreased from EUR2,403 (US$352.0) in 2008 to
EUR232.5 (US$299.0) in 2012. Over the forecast period, the average expenditure is expected to reach
EUR248.4 (US$319.5) by 2017, at a projected CAGR of 1.33%. Improved consumer confidence and an
increase in mean household income will support this trend.



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