China’s expenditure on travel abroad reached US$102 billion in 2012, making it the primary tourism source market on earth when it comes to spending. Other emerging markets in addition to most conventional tourism source markets also showed positive ends in 2012.
Over the past decade China was, and still is, by far the fastest-growing tourism source market on this planet. Owing to rapid urbanization, rising disposable incomes and relaxation of restrictions on foreign travel, the quantity of international trips by Chinese travelers has grown from 10 million in 2000 to 83 million in 2012. Expenditure by Chinese tourists abroad has also increased almost eightfold since 2000. Boosted by an appreciating Chinese currency, Chinese travelers spent a record US$102 billion in international tourism in 2012, a 40% jump from 2011 when it amounted to US$73 billion.
With this sustained growth, China has become the most important spender in international tourism globally in 2012. In 2005, China ranked seventh in international tourism expenditure, and has since successively overtaken Italy, Japan, France, and the uk. With the 2012 surge, China leaped to first place, surpassing both top spender Germany and second largest spender Usa (both with reference to US$84 billion in 2012).
Some of the opposite emerging markets have also increased their share of worldwide tourism spending during the last decade. Many of the world’s top 10 source markets by expenditure, the Russian Federation saw a rise of 32% in 2012, to US$43 billion, bringing it from the 7th to 5th place within the ranking of international tourism spending. Worth mentioning beyond the pinnacle 10 is Brazil, with an expenditure of US$22 billion in 2012, moving to 12th place up from 29th place in 2005.
“Emerging economies continue to guide growth in tourism demand,” said UNWTO Secretary General, Taleb Rifai. “The impressive growth of tourism expenditure from China and Russia reflects the entry into the tourism market of a growing middle class from these countries, surely continue to vary the map of worldwide tourism,” he added.
Although the very best growth rates in expenditure abroad came from emerging economies, key traditional source markets, usually growing at a slower pace, also posted positive results. Spending on travel abroad from Germany and america grew by 6% each. Spending from the united kingdom (US$52 billion) grew by 4% and the rustic retained its 4th place within the list of major source markets. Expenditure by Canada grew by 7%, while both Australia and Japan grew by 3%. Then again, France (-6%) and Italy (-1%) were the only real markets inside the top 10 to record a decline in international tourism spending.
Full data on international tourism expenditure and receipts could be published within the forthcoming issue of the UNWTO World Tourism Barometer, to be released end of April.