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Money spent by Chinese tourist will hit record high in 2025: Study

Paris has become the most popular holiday destination for China's growing affluent middle classes.
Pierre Suu | Getty Images
Paris has become the most popular holiday destination for China's growing affluent middle classes.

In the next decade, the amount of globe-trotting done by Russian tourists will more than double, although it will still be Chinese tourists that spend the most- $255.4 billion a year by 2025- according to a study by payment processing company Visa.

This is all due to a new "traveling class" that is being created thanks to increasing global incomes, said Visa, in the study released Thursday.

Among those households most likely to travel internationally, Visa's study estimates that spending will reach an average of $5,305 per household, per year, by 2025, which includes average spending such as food and hotel, but not the airline ticket.

In today's tourism sector, households that make at least $20,000 per year account for more than 90 percent of spending on international travel. It's estimated that by 2025, 945 million homes will earn at least $20,000, increasing even more international travel and spending – especially from households in China, Russia and Brazil. Traveling by the latter will increase by 106 percent and as tourists they will spend almost $38 billion annually by 2025.

Roughly 282 million households will plan at least one international trip per year by 2025, up nearly 35 percent from 2015, according to the study. The U.S. traveler will increase their travel by 33 percent to $134 billion in 2025 – and the U.K. tourist will increase their traveling by 58 percent.

In the next decade, travelers aged 65 and over will more than double their international travel to an estimated 180 million trips, accounting for one-in-eight international trips globally.

Along with the aging global population with more time to travel, and the growing middle class - greater Internet connectivity and improved transport infrastructure that includes 340 new airports expected over the next decade will all impact global travel over the next decade, according to Visa.


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