According to a recent report from Fung Business Intelligence Centre and China Luxury Advisors, China’s outbound traveler numbers are still growing—despite some recent indications that rate of growth of actual travel and bookings had decreased from the point it was a year ago—and are still likely to double by their numbers by 2020 to 234 million passengers (from 100 million-plus last year.)
More important to those focusing on the shopping, tourist Chinese visitor spending overseas is expected to jump to $229 billion, an increase of 23 percent over a year ago. And by 2020, their total overseas spending is expected to reach $422 billion, the report said.
Analysts at HSBC predict, however, that travel will not bounce back this year, and will not likely attract all the luxury shoppers who have held back. Still, when tourism to Hong Kong dropped, close to 60 percent of China’s outbound trips were to Hong Kong and Macau, according to HSBC. In the table below the U.S., a long-haul destination, compares favorably to any other long-haul destination.
For a list of countries and regions where travelers spend most, check out the chart below:
