Japan, South Korea, Thailand are beneficiaries
The Mainland Chinese may have less discretionary income due to a slowing economy. But that hasn’t kept them from spending big on travel abroad.
According to figures just released from the United Nations World Tourism Organization, Chinese tourists spent $261 billion on world travel in 2016, 12 percent higher than in 2015 and more than twice the $102 billion they spent in 2012. Approximately 135 million Chinese nationals traveled abroad last year, up 6 percent over 2015.
CalvinAyre.com reports that Chinese tourist spending has climbed by double digits every year since 2004; 2016 was the fifth straight year when Chinese tourists outspent all other countries in the world. They traveled most often to Japan, South Korea and Thailand along with the United States and some European countries.
This year may see a decline in travel to South Korea due to political tension between China and South Korea. Beijing is displeased by South Korea’s deployment of a U.S. missile system to deter preemptive strikes by North Korea.
