China leads the world in outbound tourism expenditures

[beijingwalker]

Data: China's big spenders

• Michael Moeser
  
  • November 19 2018, 10:57am EST
  
  
  
  In the past few years the Chinese government has loosened restrictions on foreign travel, enabling millions of its citizenry to visit foreign lands. Along with a greater ability to travel is the enhanced prosperity Chinese consumers have reaped at home — and now bring with them on vacations to purchase foreign goods.
  
  This growing affluence, and the willingness to spend it, has not gone unnoticed by retailers and tourism boards around the globe. Merchant acquirers and payment processors have worked to attract Chinese tourists' spending. Ultimately, this has meant enabling Chinese payment schemes such as Alipay and WeChat Pay at the point of sale.
  
  The sheer magnitude of Chinese travelers and their spend, along with the upward trend, is a significant opportunity.
  
  When it comes to overseas travel spending, Chinese tourists are the leaders by a wide margin. According to the 2018 UN World Tourism Organization [URL='https://www.e-unwto.org/doi/pdf/10.18111/9789284419876'](UNWTO) 2018 Highlight report, Chinese tourists as a group outspent visitors from the No. 2 and No. 3 nations (U.S. and Germany, respectively) combined in 2017.
  
  Last year there were 130 million outbound trips made from China to other countries, according to Ctrip, the largest online travel agent in Asia, and the China Tourism Academy (CTA), a specialized institute under the China National Tourism Administration (CNTA). The 2017 figure represents a 7 percent increase over 2016’s figure of 122 million travelers.
  
  Morgan Stanley noted in a recent report that the number of ordinary passport holders in China has tripled between 2012 and 2016. This is a clear indication of a country’s population gearing up to travel the world.
  [/URL]

https://www.paymentssource.com/list...ers?feed=00000157-2a64-dca5-add7-bb7fd60b0000

 

[beijingwalker]

Chinese people love to travel around the world, every year there are over 150 million Chinese traveling abroad. We see this world more clear than people from most countries on this planet.

China also has most students studying abroad all over the world, they also bring back different perspetives and ideas.

 

[Species]

This explains the tourist industry boom in ASEAN countries.

 

[beijingwalker]

This explains the tourist industry boom in ASEAN countries.

We throw money at them and they have nothing to complain about.

 

[Hamartia Antidote]

Does this count Hong Kong?

 

[patero]

Does this count Hong Kong?

It does, and it also includes Macau.

Another point is that many of the outbound tourists transactions in other countries are made via Ali-pay and WeChat to companies in China. This can result in zero benefit for many tourism destinations from Chinese tourists, as the funds do not actually leave China.

 

[Hamartia Antidote]

It does, and it also includes Macau.

Another point is that many of the outbound tourists transactions in other countries are made via Ali-pay and WeChat to companies in China. This can result in zero benefit for many tourism destinations from Chinese tourists, as the funds do not actually leave China.

https://www.telegraph.co.uk/travel/comment/rise-of-the-chinese-tourist/

"...The figure of 145m foreign trips is slightly misleading. That’s because it includes journeys made to China’s special administrative regions of Hong Kong and Macau, as well as Taiwan (whose status is disputed but which is also considered part of “Greater China”). These three accounted for 69.5m “overseas” journeys made in 2017.

Beyond Greater China, it is largely the economies of other Asian countries reaping the benefit of the rapid growth in outbound travel. Thailand, Japan, Vietnam, South Korea and Singapore are also among the top 10 destinations for Chinese tourists. The US and Italy complete the list...."

 

[beijingwalker]

http://www.traveller.com.au/top-cou...-impact-of-chinas-tourism-on-the-globe-h0zuga

The top 10 destinations for Chinese tourists

1. Hong Kong
2. Macau
3. Taiwan
4. Thailand
5. Japan
6. Vietnam
7. South Korea
8. Singapore
9. USA
10. Italy

Money is money, we don't care where it from, Hong Kong uses different currency and they have their own foreign reserves which is not counted as China's but is also one of the biggest in the world. The report is about money Chinese travelers spent outside mainland China. PRC can not take money from Taiwan and Hong Kong, they both have their own monetary system and currencies.

 

[Hamartia Antidote]

Money is money, we don't care where it from, Hong Kong uses different currency and they have their own foreign reserves which is not counted as China's but is also one of the biggest in the world. The report is about money Chinese travelers spent outside mainland China. PRC can not take money from Taiwan and Hong Kong, they both have their own monetary system and currencies.

It's funny you are calling Taiwan a "country"...when it comes to tourism.

 

[beijingwalker]

It's funny you are calling Taiwan a "country"...when it comes to tourism.

Where did I call it a country? The list is countries and regions in Chinese charts.

https://www.telegraph.co.uk/travel/comment/rise-of-the-chinese-tourist/

"...The figure of 145m foreign trips is slightly misleading. That’s because it includes journeys made to China’s special administrative regions of Hong Kong and Macau, as well as Taiwan (whose status is disputed but which is also considered part of “Greater China”). These three accounted for 69.5m “overseas” journeys made in 2017.

Beyond Greater China, it is largely the economies of other Asian countries reaping the benefit of the rapid growth in outbound travel. Thailand, Japan, Vietnam, South Korea and Singapore are also among the top 10 destinations for Chinese tourists. The US and Italy complete the list...."

View attachment 520563

By the same token, foreigners visited Hongkong and money spent there are not counted in China's numbers.

 

[Mista]

I'm surprised that small countries like Canada and Australia are so high up in that list.

 

[jhungary]

PRC can not take money from Taiwan and Hong Kong, they both have their own monetary system and currencies.

Actually, PRC can, and they did. Well, to Hong Kong, and Macau, not to Taiwan

PRC can take Hong Kong and Macau money either directly or passively. Directly is direct from order to pay % of tax income to develop project that also serve China, item such as Hong Kong to Beijing railway have the Hong Konger pays 50% of the cost when the rail line between Hong Kong and China are not even a 25:75 split.

Indirectly, China can instruct Hong Kong Government to buy Chinese State Own enterprise product. Item such as railway locomotive, buses, road construction and so on.

Just because Hong Kong and China have two different currency and central reserve does not mean China cannot take money from Hong Kong.

I'm surprised that small countries like Canada and Australia are so high up in that list.

Aussie love to travel, and Australian are within the top 5 country with most disposable income. What you are seeing is just Aussie spend travelling overseas, the money they spend travel within Australia in different state may actually shock you.

 

[beijingwalker]

Just because Hong Kong and China have two different currency and central reserve does not mean China cannot take money from Hong Kong.
.

If China can take Hong Kong's foreign reserve, which is the top 5 in the world, that will be awesome!!!

 

[jhungary]

If China can take Hong Kong's foreign reserve, which is the top 5 in the world, that will be awesome!!!

It's not a if, It is a certainty.

 

[Mista]

Aussie love to travel, and Australian are within the top 5 country with most disposable income. What you are seeing is just Aussie spend travelling overseas, the money they spend travel within Australia in different state may actually shock you.

I just checked that HK spent $24b and Singapore spent $22b in 2016. That's more than countries like Spain, India or Brazil.

https://data.worldbank.org/indicator/ST.INT.XPND.CD?year_high_desc=true

Maybe it's because we are small and surrounded by cheap tourist destinations.