Chinese citizens spent $48 billion overseas in 2010

Beijing, Jan 11 (ANI): Wealthy Chinese citizens were estimated to have spent 48 billion dollars abroad in 2010, a research group said.

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

The report further said that stronger purchasing power and the appreciation of the Renminbi helped boost overseas trips, adding that 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 five percent to 57 million dollars in 2011, while overseas spending would jump 14 percent to 55 billion dollars.

Dai Bin, Deputy Head of the academy, said that tens of millions of wealthier ordinary Chinese would continue to help boost economic growth and employment in the world's major tourist destinations. (ANI)