The spending power of Chinese travellers | The Insight Files | Scoop.it

For Chinese travellers who can afford overseas travel, there is still an all-out shopping bonanza that travel brands can plan on growing exponentially over the next five years. By 2020 outbound Chinese business and leisure travellers will spend upwards of $422 billion per year, and that's only counting their retail purchases. Tour groups will make up a diminishing proportion of Chinese overseas travellers as a greater number of tourists feel confident about independent travel, according to a survey from Fung Business Intelligence Centre, a retail and tech data trends company, and China Luxury Advisors, a consultancy for luxury retail brands. FBIC and China Luxury Advisor asked more than 1,000 Chinese travellers about their retail spending on foreign trips between May 2014 and May 2015. The survey looked at where respondents spend the most when travelling internationally, what they are buying and how much monthly income they earn. Find out more.