Chinese Tourist Numbers and Spending Forecast to Double by 2020

07/10/2015 09:07

Despite the current slowdown in the Chinese economy, the country's tourist numbers are forecast to rise to 242 million by 2024, more than double last year’s number of 116 million. Meanwhile, spending by Chinese travelers will also more than double – to $422 billion by 2020 from an estimated $200 billion this year. Sales to Chinese, both in China and abroad, are a vital share of luxury brands' sales.