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Articles by Jackey Yu
The future of tourism: Bridging the labor gap, enhancing customer experience
As travel resumes and builds momentum, it’s becoming clear that tourism is resilient—there is an enduring desire to travel. Against all odds, international tourism rebounded in 2022: visitor numbers to Europe and the Middle East climbed to around 80 percent of 2019 levels, and the Americas recovered about 65 percent of prepandemic visitors —a number made more significant because it was reached without travelers from China, which had the world’s largest outbound travel market before the pandemic.
China’s theme parks face a new era
China is now the second largest market for theme parks globally, and even during the challenges of the COVID-19 pandemic the country’s attraction industry continued to evolve, expand, and hold its global position. 1 A new report, China’s theme parks face a new era, highlights several trends that are shaping the industry, and identifies opportunities for both greenfield developments and existing destinations to provide new product offerings that enhance the visitor experience.
China’s theme parks face a new era
China is now the second largest market for theme parks globally, and even during the challenges of the COVID-19 pandemic the country’s attraction industry continued to evolve, expand, and hold its global position. 1 A new report, China’s theme parks face a new era, highlights several trends that are shaping the industry, and identifies opportunities for both greenfield developments and existing destinations to provide new product offerings that enhance the visitor experience.
Outlook for China tourism in 2022: Trends to watch in uncertain times
Although Chinese consumer confidence is growing, desire for travel has shown a faltering recovery due to sporadic COVID-19 outbreaks. A predictable pattern is emerging where desire for travel recovers roughly two months after a decline and even though international travel is restricted, the desire for travel remains. Furthermore, travelers’ preferences are shifting, with implications for travel companies.
Outlook for China tourism in 2022: Trends to watch in uncertain times
McKinsey conducted five rounds of surveys to understand Chinese travelers’ sentiments—the latest results indicate an emerging pattern of periods of suppressed travel demand followed by a quick recovery. Although Chinese consumer confidence is growing, desire for travel has shown a faltering recovery due to sporadic COVID-19 outbreaks.
China’s uneven travel recovery: Long road to international travel furthers domestic opportunities
China’s travel industry remains on an uneven recovery path. The domestic market has weathered disruptions and resumed pre-COVID-19 growth while China’s outbound travel is still extremely limited and has not seen any meaningful recovery to date. As outbound travel is likely to remain muted for the next 12 to 18 months, it is imperative that travel companies double down on opportunities in the domestic travel market.
China’s travel sector is undergoing a nonlinear recovery: What should companies do?
After being battered by COVID-19 at the start of 2020, China’s travel industry has been—slowly but steadily—on the mend. That is until an uptick in virus cases at the turn of the year set off a fresh wave of restrictions and precautionary measures. What does this mean for China’s travel industry? Since last April, McKinsey has been tracking traveler sentiment in China. We’ve conducted four rounds of surveys, polling 1,600 respondents each time in eight Chinese cities.
What Can Other Countries Learn From China’s Travel Recovery Path?
In May, we asked how much the world could learn from China’s postpandemic travel recovery. Now, we explore where lessons from the latest data from China may be relevant for other countries.
What can other countries learn from China’s travel recovery path?
While the path of the travel and tourism recovery will vary by market, China’s distinct experience may hold lessons for other markets—particularly those where, as in China, COVID-19 transmission rates are low and traveler confidence has recovered quickly. In May 2020, we conducted a survey of Chinese travelers; based on these results, we predicted that the domestic travel market would recover quickly.
Reimagining the $9 trillion tourism economy—what will it take?
As national borders consider reopening, a partnership between governments and the tourism industry will be essential. Tourism made up 10 percent of global GDP in 2019 and was worth almost $9 trillion, making the sector nearly three times larger than agriculture. However, the tourism value chain of suppliers and intermediaries has always been fragmented, with limited coordination among the small and medium-size enterprises (SMEs) that make up a large portion of the sector.
China’s travel recovery gains steam: How families are planning their summer vacations
While the global travel sector continues to withstand the negative impact of the COVID-19 pandemic, some markets have started to show signs of recovery. In China, where the virus first broke out, domestic airline passenger levels have grown steadily, and now sit at 50 percent of precrisis levels. Hotel occupancy rates have also improved since the depths of the crisis, and are now back to 60 percent of last year’s levels.
Hitting the road again: How Chinese travelers are thinking about their first trip after COVID-19
The global travel sector has taken a catastrophic hit as a result of the COVID-19 pandemic, which continues to keep most of the world in lockdown, and away from resorts and tourist hotspots. As China’s economy emerges from the stasis engendered by coronavirus containment measures, it is important to understand how long it will take for consumers to regain the confidence to leave their homes for leisure travel.
Reimagining the $9 trillion tourism economy--what will it take?
Tourism made up 10 percent of global GDP in 2019 and was worth almost $9 trillion, 1 making the sector nearly three times larger than agriculture. However, the tourism value chain of suppliers and intermediaries has always been fragmented, with limited coordination among the small and medium-size enterprises (SMEs) that make up a large portion of the sector. Governments have generally played a limited role in the industry, with partial oversight and light-touch management.
The way back: What the world can learn from China’s travel restart after COVID-19
China’s COVID-19 lockdown has ended, and travel is tentatively restarting. In this article, we look at how it has recovered so far, what Chinese travelers think about their future travel, and how industry players are responding to these trends. Countries and regions around the globe are gradually moving past the peak of the pandemic. We hope that China’s experience can shed light on what other countries can—and cannot—expect for their own travel recoveries.
The way back: What the world can learn from China’s travel restart after COVID-19
China’s COVID-19 lockdown has ended, and travel is tentatively restarting. In this article, we look at how it has recovered so far, what Chinese travelers think about their future travel, and how industry players are responding to these trends. Countries and regions around the globe are gradually moving past the peak of the pandemic. We hope that China’s experience can shed light on what other countries can—and cannot—expect for their own travel recoveries.
The way back: What the world can learn from China’s travel restart after COVID-19
China’s COVID-19 lockdown has ended, and travel is tentatively restarting. In this article, we look at how it has recovered so far, what Chinese travelers think about their future travel, and how industry players are responding to these trends. Countries and regions around the globe are gradually moving past the peak of the pandemic. We hope that China’s experience can shed light on what other countries can—and cannot—expect for their own travel recoveries.
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