The number of Chinese tourists who visited Europe surged to 500,000 this year. Partly due to the depreciation of the euro, reports China News, a state-owned media outlet based in Beijing. The 17% depreciation of the euro over the past year means that traveling to Europe is cheaper than ever before for Chinese people.
A representative from a tourism association in Paris said that the number of Chinese people who visit Paris has grown by 52%. Most of them like to purchase luxury goods while traveling because these merchandise are 30% cheaper in France than in China. France hosted a group of 6,400 employees from Tianjin-based biotechnology, logistics and finance conglomerate Tiens, sent on a four-day trip to the country by company founder and chair, Li Jinyuan.
The group booked 140 hotels in Paris, 7,600 train tickets, and 4,760 rooms in four and five star hotels in Monaco and Cannes. This is the largest ever Chinese tour group to visit France and, in all, the employees spent around €13 million (US$15 million) in Paris; while Nice is said to have made €20 million (US$22 million) from the tour group.
Tourism accounts for 7% of France’s €150 billion annual GDP. France has also made itself the most popular tourism spot worldwide, attracting 84.7 million tourist visits in 2013, alone. The country has seeing a large increase in tourists from China.
Roughly 107 million Chinese people travelled overseas last year, according to UK-based paper The Telegraph. Chinese people are now spending US$164 billion overseas each year and it is said that this number will grow up to US$264 billion by 2019.