- Successful completion of negotiations to extend existing joint venture
- Long-term agreement until 2033
- "TUI 2022" growth targets for South East Asia with focus on China
- TUI Group CEO Fritz Joussen: “Following city breaks, new trend among young Chinese: ‘Western-style’ sun, sea and sand travel”
TUI Group is strengthening its presence in China. In the framework of TUI Group CEO Fritz Joussen’s visit to China, the joint venture with the Chinese CTS Group was extended by 15 years to 2033. TUI China was established by CTS and TUI in 2003. “We are seeing new travel trends, in particular among young Chinese travellers. For a long time, the focus was on city breaks, culture and shopping. Young Chinese consumers are now discovering ‘Western-style’ sun and beach holidays, sports, wellness and relaxation”, said Joussen. According to Joussen, TUI is well prepared for this second wave of Chinese outbound tourism thanks to its successful, trust-based joint venture with CTS.
TUI’s current footprint in China consists of offices in Beijing and Shanghai. At the beginning of the year, TUI Group CEO Fritz Joussen presented the strategic programme “TUI 2022”. By 2022, the world’s number one tourism group is aiming to tap new growth markets and further expand its business in South East Asia. “We already take European tourists to China, while Chinese tourists are travelling to Europe with us. In future, China will be a travel hub within Asia. We are aiming to offer Chinese customers holidays in Malaysia, Thailand or Vietnam the way we are offering travel within Europe for German, French or Swedish customers,” said Joussen. “Winning an additional one billion euros in turnover and an additional one million customers, focusing on China – and all based on digitalisation”, this is TUI’s target by 2022.