Yuan’s rising value means expanding tourism
The rising value of the yuan has often made it cheaper for Chinese tourists to travel to exotic foreign destinations than it is to travel to their own country’s popular resorts.
Over the next year, the number of outbound trips from China will top the 100 million mark for the first time in history. The rising number of Chinese people traveling abroad has grown even faster than predicted.
The increasing value of the yuan compared with the dollar means that once prohibitive international travel is within easy reach for many, particularly for countries in the developing world, such as Sri Lanka or Iran. They have emerged as popular destinations for the more adventurous young Chinese people looking to see something other than Paris or New York.