China sees narrowing tourism trade surplus in 2014-2017
China continues to maintain a trade surplus in tourism from 2014 to 2017, though the surplus has been narrowing over time, according to a survey of China Tourism Academy.
The outbound travel expenditure of Chinese travelers has been increasing year after year between 2014 to 2017 – from USD 89.64 billion in 2014 to USD 104.5 billion in 2015, USD 109.8 billion in 2016 and USD 115.29 billion in 2017. The expenditure is expected to increase to USD 120.25 billion in 2018, according to China Tourism Academy (CTA).
Inbound tourism receipts for China also increased over the years, from USD 105.38 billion in 2014, to 113.65 billion in 2015, to 120 billion in 2016 and 123.4 billion in 2017.
For the past five years, inbound tourism receipts continued to exceed outbound tourism spending, creating a sustained tourism trade surplus.
Note: * indicates predictions.