A cheaper yuan tends to make overseas trips more expensive for Chinese travellers. But judging by the numbers — the depreciation is not holding back China’s outbound tourists. The impact from the weak yuan on Chinese tourists going abroad is being offset by the holiday joy.
A tourism website founder said, “The yuan’s drop has had a limited impact. Chinese tourists want something more, something spiritual, when it comes to travel. They want to go out and have a look at other countries, and a cheaper yuan won’t stop them.”
Most travel agencies have revised up their outbound travel packages, but only marginally. The yuan buys less overseas these days but there are things money can’t buy.
Liu Simin, from society for studies of the future, said, “Chinese tourists want to go overseas, and they can bear the slight increase in budget. That sentiment kills the negative impact of a weakening yuan.”
Chinese tourism officials expect 133 million Chinese travellers to go overseas this year. That’s up 11.9 percent from in 2015 and would bring an estimated $104.5 billion to the global tourism industry.