1、A business of Marsh McLennana new era of Chinesetravelers andluxuryspendersOliver Wymans perspectivesNovember 20232 Oliver WymanKEY TOPICSWe surveyed over 7K affluent Chinese consumers1 across June and September as input into our research1.18 years and above from an affluent household with a minimal

2、 household income of RMB 30,000When will all Chinese travelers be back?Will China become the growth engine of the global luxury market again?Will the long queues of Chinese shoppers in Europe return?How big will Hainan become?01020304Domestic travel traction continues,but intl travel will not be bac

3、k until 2025China will fuel the growth of the global luxury market despite short-term turbulenceDomestic shopping is the new normal;pre-COVID overseas spending level will not return in the foreseeable futureHainan has the potential to represent 20%of the total domestic luxury marketWhen will all Chi

4、nese travelers be back?014 Oliver WymanTHERE WERE 155 MN OUTBOUND TRIPS BY CHINESE TRAVELERS IN 2019,TOGETHER SPENDING US$245 BNNumber of trips by Chinese travelersMN,2017-2019Source:National Bureau of Statistics of China,World Travel and Tourism Council,Oliver Wyman analysis5,00120175,53920186,0062

5、019+15%+4%US$245 BNChinese outbound tourism expenditure in 2019DomesticOutbound1551501315 Oliver WymanCOVID-19 related border control policyTravel recovery rate by destination%,Chinese traveler count vs.20191 levelOct vs.2019 same period11.For Hong Kong from July-December,it is compared to 2018 due

6、to impact of social unrest in 2019H2;For Taiwan from September till December,it is compared to 2018 due to suspension of individual travel permit by Mainland China in August 2019;2.Sep 2023 data Source:Government statistics,Oliver Wyman analysisMacau SAR(83%)Hong Kong SAR(58%)1Australia(57%)Singapor