"Our activities in China, Russia and Ukraine form the nucleus of future growth," Michael Frenzel told the group's annual shareholder meeting on Wednesday. "Organised tourism is only just starting in these countries."
TUI last year became the first European tour operator to win a licence to organise international travel for Chinese holidaymakers, who industry experts expect will overtake Germans as the world's biggest spenders on holidays within the next few years.
Frenzel said TUI will bring its first groups from China to Europe in the summer.
