Chinese tourists travelling abroad spent RMB 1.5tn ($226.15bn) in 2015, almost half of which was used to buy high-quality, cost-effective goods, according to the Ministry of Commerce. The government has also been trying to boost domestic consumption by encouraging more people to spend their money domestically. The market has plenty of growth, with fewer than 10% of Chinese people owning a passport. Singapore and South Korea ranked second and third respectively. In contrast, the World Travel & Tourism Council reported that international travellers spent RMB 384.6bn in China, only 2.94% more than the previous year.
Chinese tourists travelling abroad spent RMB 1.5tn ($226.15bn) in 2015, almost half of which was used to buy high-quality, cost-effective goods, according to the Ministry of Commerce. The government has also been trying to boost domestic consumption by encouraging more people to spend their money domestically. The market has plenty of growth, with fewer than 10% of Chinese people owning a passport. In contrast, the World Travel & Tourism Council reported that international travellers spent RMB 384.6bn in China, only 2.94% more than the previous year.