Over­seas travel leads to spend­ing surge

China Daily (Canada) - - NEWSCAPSULE -

Chi­nese con­sumers are spend­ing more on din­ing, ho­tels and en­ter­tain­ment be­cause of in­creased over­seas travel, ac­cord­ing to a re­port.

That spend­ing surged more than 60 per­cent in the past three years, ac­cord­ing to Union­Pay In­ter­na­tional, a unit of China Union­Pay Co Ltd. The com­pany sur­veyed Chi­nese con­sumers in more than 140 coun­tries and re­gions. The re­search showed the com­pound an­nual growth rate of Chi­nese con­sumers’ spend­ing on din­ing in the past year was more than 65 per­cent, while en­ter­tain­ment spend­ing was more than 60 per­cent.

Lux­ury brands re­main a ma­jor pur­chase for Chi­nese con­sumers over­seas, the Union­Pay re­port said. Chi­nese con­sumers are more will­ing to travel far and wide. In 2013, there were 97 mil­lion trips over­seas by Chi­nese with spend­ing of $102 bil­lion, ac­cord­ing to data from the China Na­tional Tourism Ad­min­is­tra­tion.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.