Posted On 2014/10/11 By In Business, Economics, China Inbound, News, China Outbound, Research With 685 Views

China reports huge Tourism Deficit

Chinese travelers overseas spent much more than foreign visitors inChina in the first three quarters, according to a report released by the China TourismAcademy (CTA) on Friday. A deficit in tourism revenue stood at some 77.6 billion U.S. dollars from January toSeptember, said the CTA report. During the period, 95 million trips were made to China, down 1.5 percent year on year.Meanwhile, 85 million trips flowed out of the country, surging by 16.6 percent.

“The tourism deficit for the whole 2014 may exceed 100 billion U.S. dollars,” said CTApresident Dai Bin, citing explosive growth in outbound tourists and a lackluster inboundtourism market.

China first recorded a tourism deficit in 2008, when the global financial crisis greatlydiscouraged foreign spending in the country while a stronger yuan encouraged touristoutflow. The country is one of the main sources of international tourists as an increasingly well-offmiddle class seeks more exotic experiences overseas.

Despite occasional disorderly conduct, Chinese tourists were generally well receivedabroad as many of them spent lavishly on luxury goods, from branded bags to expensivewrist watches.


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Article: People Daily / Image: Ken Teegardin

Chinese travelers overseas spent much more than foreign visitors inChina in the first three quarters, according to a report released by the China TourismAcademy (CTA) on Friday. A deficit in tourism revenue stood at some 77.6 billion U.S. dollars from January toSeptember, said the CTA report. During the period, 95 million trips were made to China, down 1.5 percent year on year.Meanwhile, 85 million trips flowed out of the country, surging by 16.6 percent. "The tourism deficit for the whole 2014 may exceed 100 billion U.S. dollars," said CTApresident Dai Bin, citing explosive growth in outbound tourists and a lackluster inboundtourism market. China first recorded a tourism deficit in 2008, when the global financial crisis greatlydiscouraged foreign spending in the country while a stronger yuan encouraged touristoutflow. The country is one of the main sources of international tourists as an increasingly well-offmiddle class seeks more exotic experiences overseas. Despite occasional disorderly conduct, Chinese tourists were generally well receivedabroad as many of them spent lavishly on luxury goods, from branded bags to expensivewrist watches. Learn more in our Global Ready China Seminars Sources: Article: People Daily / Image: Ken Teegardin

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About

Stefan

Stefan (from Austria, Europe) has been living, studying and working in China since 2010. Stefan has worked on several research, publication and consulting projects focusing on the China Travel Market. He holds three Masters degrees and is an expert on China Outbound Tourism, Marketing and Social Media in China. Stefan works with BMG on the Global Ready China Seminars as well as the Global Ready China News and related projects. He also has teaching engagements in the areas of eMarketing and Tourism Strategy.

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