Morgan Stanley: The inbound tourism retail market in China will experience strong growth in the next ten years.

Recently, Morgan Stanley released a research report that deeply analyzes the Chinese inbound tourism market. Morgan Stanley predicts that the retail market for inbound tourism in China will grow more than fourfold over the next decade, from $14 billion in 2024 to $60 billion in 2034. The proportion of the overall tourism retail market in China will increase from 10% to 25%, with the increasing number of globally recognized brands and continuously optimized shopping experiences being key driving factors. The organization pointed out that China's leading consumer electronics products, as well as the rise of brands like Pinduoduo globally, will attract tourists to China and stimulate shopping demand. Moreover, the prices of Chinese products are internationally competitive. In addition, policy supports are expected to promote duty-free and tax rebate shopping, optimizing the shopping experience. Retailers, shopping malls, and duty-free operators in China will benefit the most.