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Chinese travellers splash the cash

Chinese travellers have spent 40 per cent more on their holidays this year.

The Chinese International Travel Monitor 2018 has found that locals are keen to splash the cash when it comes to going abroad for their break.

Writing in the foreword, Nelson Allen, General Manager of the Asia Pacific edition of the brand, shared: "Over the past seven years, the economic and social changes in China have been dramatic. Every year more and more Chinese residents travel overseas. In 2017, there were 130 million outbound tourists, 7 per cent more than in 2016 and 85 per cent more than in 2011, when we first published CITM.

"Chinese travelers have benefited this year from a rebound in the Chinese economy and strong results from stock markets in mainland China and Hong Kong. This has put more money in the pockets of Chinese travelers through increases in both salary and non-salary income. In addition to having more to spend, travelers have increased the amount they spend on travel by 40 per cent this year, compared with last year. The increasingly influential millennials are spending unprecedented amounts on travel, with those born after 1990 increasing their travel spend by 80 per cent this year."

Young people are increasingly becoming a big part of the market.

He added: "This year's CITM reveals the far-reaching influence of this younger generation of Chinese travelers. Their growing sophistication and affluence is inspiring them to learn more about other cultures and to travel widely, leaving their footprint across the globe, from Latin America to Oceania and Europe to the Middle East. It is a trend with powerful momentum and next year will see millennials traveling even further afield. These younger Chinese travelers are also inspiring their parents and other travelers born post 1960 and 1970 to do the same. The number of travelers wanting to travel independently instead of in group tours continues to rise, as does the demand for edgier, boutique styles of accommodation."

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