Chinese travelers buoy global tourism industry

Chinese travelers are an increasingly important pillar of global tourism, and their spending is growing.

Spending abroad by mainland Chinese travelers, including in Hong Kong and Taiwan, rose 4.5 percent last year to $261.1 billion and accounted for about a fifth of the global total, according to the U.N. World Tourism Organization. The United States was No. 2 at $121.5 billion. Germany, the United Kingdom and

France also were among the top five spenders.

Counting trips to Hong Kong and Macau, China became the No. 1 source of outbound tourism spending in 2012. Data from research firm Euromonitor International show China passed the United States for the top spot in markets outside Greater China in 2015.

“China will continue to lead global outbound travel,” said the WTO in a report.

Chinese investors are following: An insurer bought New York City’s Waldorf Astoria Hotel. Others are investing in hotels, golf resorts and other travel assets in Southeast Asia, Australia, Europe and the United States.