Chinese tourists are predicted to spend around 155 billion USD while traveling abroad over the course of this year—a 20 percent jump from 2013, according to the China Tourism Academy.
The estimated 116 million Chinese travelers going overseas this year will be dropping considerably more cash than the $55 billion to be spent by tourists inside China, creating a deficit of more than $100 billion.
China sees off more overseas travelers than any other country in the world, according to the Chinese Tourism Academy. New Zealand is their top-ranked travel destination, followed by the US, Canada and Australia. Southeast Asian countries and Europe have become increasingly popular spots for Chinese tourists as well.
Already in the first half of the year, Chinese travelers poured $70 billion into these countries, up 20.7 percent from the same period last year. As the money most certainly isn’t being spent on fine dining, many tourists are forking out dough for luxury goods like branded bags and watches, China Daily reports.
And according to a survey previously carried out by Hong-Kong based investment group CLSA, the number of annual outbound mainland Chinese tourists is only going to increase—from 2013’s 100 million to 200 million by the year 2020.
The next stop? Outer space.
Previously on Shanghaiist: ‘Chinese friends, invade us!’: Sicilian mayor welcomes mainland tourists with open arms