China Takes Top Spot in Overseas Travel
In terms of international tourism expenditure in 2006, China ranked seventh, but in 2011 have surpassed Japan, France, Italy and Britain but still remained in third place after spending more than US$ 72 billion on overseas travel. But last year Chinese spending jumped 40 percent to US$ 102 billion while a modest growth from US tourists was seen along a decline in German spending.
The UN World Tourism Organization said that the rapid growth of Chinese spending is due to the appreciation of the yuan along with the rapid economic development of the country that was sped up urbanization and raised disposable income which led to the relaxation of government restrictions on foreign travel.
Even with the Germans and Americans willing to spend on oversea vacations, other nationalities were reluctant. British tourists spent less last year while Japan barely increased their spending over an eight year period. More than 83 million Chinese tourists left overseas were middle class residents, which reflect China’s entry into the tourism market of the growing middle class.