China's Tourists Are The Biggest Spenders In the World!!
Posted in the China Forum
#1 Jun 13, 2013
More Chinese are traveling abroad than ever before to take advantage of the yuan’s strength against the world’s other major currencies, according to a June 12 report by the internet giant Tencent.
Last year saw 83 million Chinese travel abroad, a more than eightfold increase over the 10 million who went abroad in 2000. The number is expected to jump to 94 million in 2013 while total tourism spending is projected to grow 20%, according to industry sources cited by Tencent. The growth makes China’s tourism sector one of the world’s fastest growing.
Top foreign destinations for Chinese travelers are Hong Kong, Bangkok, Seoul, New York, Tokyo, Singapore, Taipei, London, and Sydney. The yuan’s continuing appreciation will induce more Chinese to visit Japan, Australia, the US and Europe, according to the Tencent report.
A favorite dream destination for Chinese is Los Angeles, the city visited by nearly one of every three Chinese who come to the US. When visiting California Chinese tourists spend an average of $2,932 per visit compared with $1,883 for other overseas visitors, according to the US Office of Travel and Tourism Industries.
One indicator of the growth the US can expect in visits by Chinese is the size of China’s middle class. In 2011 it numbered 247 million, about 18% of the population. It’s projected to more than double to over 600 million by 2020.
#2 Jun 13, 2013
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