Economy

Chinese citizens spent $48 billion overseas in 2010

(Xinhua)
Updated: 2011-01-11 06:54

BEIJING - Chinese citizens with stronger yuan in their pockets were estimated to have spent $48 billion abroad in 2010, an increase of 14 percent from one year earlier, a research group reported on Monday.

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Chinese mainland tourists were expected to make 54 million outbound trips last year, up 15 percent year on year, the China Tourism Academy said in its annual report on the national tourism industry.

Stronger purchasing power and the appreciation of the Renminbi helped boost overseas trips, the report noted.

Private trips made up about 90 percent of the total, as the government tightened checks on business trips funded by public money.

The report predicted that outbound tours would increase 5 percent to 57 million in 2011, while overseas spending would jump 14 percent to $55 billion.

Tens of millions of wealthier ordinary Chinese will continue to help boost economic growth and employment in the world's major tourist destinations, said Dai Bin, deputy head of the academy.