Published on : Wednesday, October 9, 2019
According to the Balance of Payments Report released by China’s State Administration of Foreign Exchange the outbound travel expenditure of Chinese travellers reached USD 127.5 billion in the first half of 2019. This was more than half of which was spent in Asian destinations.
Be it for vacation or education the Chinese residents were earning, spending and travelli9ng more.
During the first half of this year the Chinese travellers spent USD 127.5 billion on overseas travel. Mobile payment had increased rapidly but the most common payment method was through bank card payment.The turnover has doubled over the same period last year.
In the Asian destinations about 54% of the total Chinese outbound tourists was spent, 24% and 135 in America and Europe respectively.
Hong Kong, Japan, Macau, Taiwan and South Korea were the top five Asian destinations. France, Italy , the UK and Switzerland were the most popular destinations in the West.
In relation to the countries in the H1 2019 the spending in countries along the Belt and Road continued to grow to USD 14.9 billion where the top regions were Singapore, Thailand, Vietnam and Indonesia.
Tags: China outbound