Chinese tourists are about to become the second largest source of foreign visitors to Canada, overtaking the UK, as their spending in the country rises sharply, due to a growing middle class. A report out today reveals that Chinese visitors increased their credit card use by 30.2% in 3Q2015 in Canada, compared to a year earlier. The increase is driven largely by higher interest rates and lower borrowing costs for Chinese tourists, who have been able to borrow more than ever before. The report also revealed that a majority of Chinese tourists spending was in shops, whilst most of the US tourist spending was in restaurants.
Chinese tourists are about to become the second largest source of foreign visitors to Canada, overtaking the UK, as their spending in the country rises sharply, due to a growing middle class. A report out today reveals that Chinese visitors increased their credit card use by 30.2% in 3Q2015 in Canada, compared to a year earlier. Quicker visa processing and more direct flights are also some of the factors for the increased numbers. The report also revealed that a majority of Chinese tourists spending was in shops, whilst most of the US tourist spending was in restaurants.