China reports huge tourism deficit
Updated: 2014-10-11 07:19
BEIJING - Chinese travelers overseas spent much more than foreign visitors in China in the first three quarters, according to a report released by the China Tourism Academy (CTA) on Friday.
Travel to overseas destinations rose during the seven-day National Day Holiday that ended on Oct 7 as a result of visa-free or visa-on-arrival policies offered by a rising number of countries to Chinese citizens.[Photo/Xinhua]
A deficit in tourism revenue stood at some 77.6 billion US dollars from January to September, said the CTA report.
During the period, 95 million trips were made to China, down 1.5 percent year on year. Meanwhile, 85 million trips flowed out of the country, surging by 16.6 percent.
"The tourism deficit for the whole 2014 may exceed 100 billion US dollars," said CTA president Dai Bin, citing explosive growth in outbound tourists and a lackluster inbound tourism market.
China first recorded a tourism deficit in 2008, when the global financial crisis greatly discouraged foreign spending in the country while a stronger yuan encouraged tourist outflow.
The country is one of the main sources of international tourists as an increasingly well-off middle class seeks more exotic experiences overseas.
Despite occasional disorderly conduct, Chinese tourists were generally well received abroad as many of them spent lavishly on luxury goods, from branded bags to expensive wrist watches.