Chinese International Travelers Increase - 4/11/16
Much concern has been expressed regarding prospects for Chinese economic growth. Chinese growth rates have recently been at their lowest in roughly two decades. Still, the Chinese economy expanded about seven percent last year, one of the best performances in the world.
Over time, China’s economy has produced the world’s largest middle class, and many Chinese are using their new wealth to see the planet. According to data supplied by the China National Tourist Office and the World Travel and Tourism Council, the number of Chinese tourists traveling internationally has more than doubled to 120 million people over the past five years.
As reported by CNNMoney, that means that one in every ten international travelers comes from China. Those Chinese tourists spent two hundred and fifteen billion dollars abroad last year, fifty three percent more than in twenty fourteen.
According to the World Travel and Tourism Council, Chinese families begin to travel abroad once their annual income hits $35,000. Between 2003 and 2013, about 21 million households crossed that threshold. Another 61 million households are expected to achieve that level of earnings by 2023.