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

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.