Chinese tourists who traveled abroad last year forked out around 163 billion USD (1 trillion yuan) in total, far exceeding the 153 billion USD estimation made by the China Tourism Academy.
“Outbound travelers from China exceeded 100 million and combined consumption volume of Chinese tourists surpassed 1 trillion yuan last year,” Commerce Minister Gao Hucheng said Saturday at a press conference on the sidelines of the ongoing annual parliamentary session, citing data available to the Ministry of Commerce.
“There are various reasons behind this phenomenon, and one important reason is the price difference,” he told reporters.
High tax rates on some products in China and pricing strategies of some foreign brands lead to higher prices for the same products in China, said Gao, adding that there is also room to reduce costs and cut prices by improvements in logistics and business management.
China sends more tourists abroad than any country in the world. Chinese travelers made more than 100 million international trips in the first 11 months of 2014, 60 percent of which were within Greater China, including Macao, Taiwan and Hong Kong (although the number of tourists flowing into the latter is likely to drop in upcoming years).