Chinese travelers are spending a higher share of their income on international travel and intend to spend even more in the next year despite a slowing down of the Chinese economy.
This is a reflection of the growing importance of travel to Chinese travelers as a means of self expression and for relaxation. Travel is seen by Chinese travelers as an opportunity to enjoy themselves and make the most of their leisure. On average, Chinese travelers spent US$3,623 (¥24,945) in the last 12 months – more than a quarter of their income, and up from 24% compared to the previous year.
The average amount spent per day also increased in the past year – up 8 per cent from US$414 (¥2,849) in 2016 to US$446 (¥3,074) in 2017. This is due to an increase in spending on local expenses from US$290 (¥1,999) to US$315 (¥2,170) (up 9%) and hotel expenses from US$123 (¥850) to US$131 (¥904) (up 6%).
The proportion of income spent on international travel compared with the previous year increased the most for travelers born post 70s onwards, with younger post 90s millennials spending the highest proportion, at 35 per cent of their income. More than a third (34%) of these younger millennials do not have an income so are most likely using their parents’ money to travel. This is indicated by the fact that 35 per cent of post 90s without an income travel with their parents compared to 21 per cent who do have an income. Almost a third (32%) of those without an income also consider their parents to be a major influence on their travel decisions compared with only 25 per cent of those who do have an income.