China reports huge tourism deficit

on October 10 2014 | in Daily Headlines | by | with No Comments

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.

A deficit in tourism revenue stood at some 77.6 billion U.S. 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 U.S. 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.

Read more at Shanghai Daily.

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