Chinese international travellers, swelled by a wave of individualistic millennials joining the middle class, are likely to be spending more on their trips overseas by 2025 than their counterparts from Germany, the UK and France combined, a report has found.
The rise to such dominance over the international travel market will expand revenues from Chinese travellers in 2025 to a total of $255.4bn, up 86 per cent from $137bn last year (see chart), according to research by Oxford Economics, a consultancy, and Visa, the payments company.
If such projections materialise, China’s outbound travel market will be almost twice as large in 2025 as that of the US, which is likely to generate $134bn in traveller spending in 2025, up from an actual $101bn last year, according to the report.