Five Reasons Why Chinese Millennials are Driving the Tourism Market: #3

Part of the

Tourism

series

Chinese millennials are relatively wealthy Young Chinese travelers -- as the first generation born under the “One Child Policy” -- have greater purchasing power than their parents, helped also by their high educational attainment and low levels of debt. Chinese millennials therefore tend to spend more, racking up an astonishing $50,000 per year on leisure and travel costs. Young Chinese people both spend more per trip and travel more often than their older counterparts, taking on average three to four international trips each year. These spending trends show no signs of cooling off: despite a slowing national economy, studies predict that Chinese millennials’ total combined income will increase by $3 billion over the next decade, suggesting that their travel habits will increase in cost and frequency in the coming years.

You might also like

Quick Take: Huawei Under Pressure: Implications for Chinese Tech
Bloomberg Daybreak: From Bush's Relationship With China to the Present
Bloomberg Daybreak: President George H.W. Bush's Foreign Policy Legacy

Related Articles

No items found.

More posts from this series:

China-Egypt Tourism surges solidifying bilateral ties
Chinese explore new waters -- cruising
From the middle kingdom to the Middle East: Six reasons why Chinese travelers are exploring MENA