Eye­ing out­side mar­kets

ChinAfrica - - Cover Story -

Chi­nese fi­nan­cial tech­nol­ogy (fin­tech) com­pa­nies aim­ing to ex­pand their op­er­a­tions out­side China by tak­ing a cut from tourism spend­ing have taken note. Chi­nese tourists spent $261 bil­lion dur­ing their trav­els abroad last year, 12 per­cent more than the pre­vi­ous year, and the num­ber of out­bound trav­el­ers grew 6 per­cent to 135 mil­lion in 2016, ac­cord­ing to fig­ures from a United Na­tions World Tourism Or­ga­ni­za­tion (UNWTO) re­port.

“This growth con­sol­i­dates China’s po­si­tion as the num­ber one source mar­ket in the world since 2012, fol­low­ing a trend of dou­ble-digit growth in tourism ex­pen­di­ture ev­ery year since 2004,” the UNWTO re­port said.

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