China’s affluent females are shaping the future of luxury travel, with more exploring the world alone in search of niche experiences, new learnings and personal fulfilment. What must industry players do to speak to these brave explorers?
Finn Partners’ latest industry report, China’s Women in Charge, produced in association with ILTM Asia Pacific 2024 and presented on July 1 at the trade event’s Opening Forum, paints a clearer picture of the next Chinese outbound traveller segment that the travel and tourism industry needs to watch out for: affluent female travellers.
The report notes that high-value Chinese female travellers are seeking more meaningful travel experiences, as they see travel as opportunities for enrichment, new learnings, and personal fulfilment.
“Where travel was once a form of conspicuous consumption, it is now a sign of independence,” said Jenny Lo, managing partner of Finn Partners.
“A famous Chinese saying goes: women hold up half the sky. Clearly, this is so in travel,” Lo added, emphasising that women make 80 per cent of travel decisions and account for six out of 10 Chinese tourists in 2023.
“They are the ones who hold the household’s purse strings. As China reclaims its position as a top spender in international travel, it suffices to say that female travellers will have an impact on the travel business,” Lo said.
Precise travellers
On the back of changing social and cultural dynamics in China and with more Chinese females choosing not to have children and prioritising personal goals, travel patterns are evolving too.
In detailing the ways Chinese women are using their economic and social influence on the travel industry, the report highlighted five key takeaways.
Redefining luxury: the definition of luxury has shifted away from external validation to self-fulfilment. Sixty-three per cent of respondents define luxury as enjoying “me time”, while half interpret luxury as experiences that evoke joy.
Travel to enrich: China’s female luxury tourists no longer travel to escape daily routines or family obligations. They embrace travel as an opportunity to challenge themselves or learn new skills. Ninety-nine per cent believe that travel brings profound joy, and the same percentage see it as essential to expanding their horizons.
Need for niche: while most Chinese tourists take familiar routes, almost 90 per cent of Chinese female travellers are attracted to niche destinations for their natural beauty and landscapes. As an expression of individuality, 66 per cent are drawn to unsung destinations that offer unique local experiences, while 58 per cent are willing to veer off the beaten path to visit destinations of cultural or historical significance.
Flying solo: there is a growing trend for solo travel, particularly among female travellers, who see this as a reflection of their independence. Regardless of their marital status, over 80 per cent of respondents feel equally comfortable travelling on their own as with a spouse or partner. Seventy-three per cent of married respondents are likely to increase their solo travel in the coming years. For those with children, 46 per cent plan to travel without or travel less with their children.
Rising self-influence: empowered by financial autonomy and preference for solo travel, 82 per cent of respondents say their opinions mattered more than before when arranging travel. While they may be influenced by partners (60 per cent), this demographic is less likely to be swayed by celebrities and social media influencers (10 per cent) or advertisements (nine per cent). Older affluent female travellers favour travel advisors, trusting their insights and seeking guidance from experts when curating bespoke travel experiences, while the younger ones are more open to celebrities, influencers, and travel bloggers for inspiration.
Be ready for the ladies
Lo told TTG Asia that while the report focuses on affluent Chinese females due to the great interest the travel and tourism industry has in the outbound Chinese market, the reality is that the female population across Asia is increasingly educated, financially empowered, and independent.
“This is a trend that is widely observed, and we would love to study the travel intentions of Asian women one day,” remarked Lo.
Even without supporting data now, Lo believes that travel and tourism businesses must already be prepared to welcome a growing number of female travellers who are going solo or with friends.
According to the study, 31 per cent of Chinese females prefer accommodation designed for women. Cathy Feliciano-Chon, managing partner at Finn Partners, urged hoteliers to adopt friendlier interior design and furnishings for women.
“Give us more hangers and don’t position clothes racks and hanging rods so high up. Give us mirrors and lighting that allow us to do our make-up. Give us proper, powerful hairdryers,” Feliciano-Chon said, adding that women-only floors are no longer enough.
Lo added that these ought to be “basics” at hotels, even at business hotels since more women are travelling for work.
She added that respondents are also asking for solo travel packages, safe nightlife options, and more networking opportunities while on trips.
“Women are planning trips to celebrate personal achievements, so hotels could offer packages that facilitate that,” Lo suggested, pointing to ideas like exclusive designer shopping weekends and wellness retreats.
