Chinese Biggest Travel Spenders
Audrey Dufour and Nina Godart at France’s BFMTV report that, according to new figures published by the World Tourism Organization on April 4, China has become the number one nation in the world in terms of travel spending: US$102 billion in 2012.
China continues to break all records. Already known as the country to have sent the most tourists abroad within the ten last years, it now also has become the one to spend the most on international tourism.
According to the World Tourism Organization, which published new data this Thursday, April 4, Chinese nationals spent $ 102 billion outside of China in 2012. A record figure, which according to the WTO is due to the appreciation of the yuan, a rising average income and the lifting of some restrictions on travel abroad.
Spending by Chinese tourists abroad has increased exponentially in recent years. The amount spent by Chinese nationals outside their country jumped by 40% in 2012 in comparison to the previous year, and it has increased eightfold since 2000.
China, which occupied the 7th spot on this list back in 2005, now surpasses both Germany and the United States as of 2012, two countries that were on top of the list.
In other emerging markets, growth is intense: Brazil now occupies the 12th place with US$22 billion in spending; the largest country in Latin America occupied the 29th back in 2005. But the more mature economies are not left out either, including those supposed to be in crisis mode: travel spending in Germany and the United States was up 6% respectively, 4% in the United Kingdom, 7% in Canada while Australia and Japan both saw growth of 3%.
Within the top 10, only France and Italy saw tourist spending decline, respectively by 6% and 1 %.