‘Gone down a lot’: why Chinese travellers are shunning US and Europe
Chinese tourists are increasingly shifting away from traditional destinations like the US and Europe, opting instead for hotspots in the Middle East, Southeast Asia, and Latin America. This trend is reflected in currency exchange data from Travelex, which shows a decline in the demand for US dollars, euros, and British pounds among its Chinese customers since 2019.
According to Travelex, the US dollar's share of their Chinese business has dropped from 27% in 2019 to about 17% currently, while the demand for British pounds and euros has fallen from 12% to 7%. This shift is attributed to changing travel preferences influenced by Beijing's policies, including closer ties and visa exemptions with countries in the Middle East, Southeast Asia, and Latin America.
via SCMP Full Text Feed
Chinese tourists are increasingly shifting away from traditional destinations like the US and Europe, opting instead for hotspots in the Middle East, Southeast Asia, and Latin America. This trend is reflected in currency exchange data from Travelex, which shows a decline in the demand for US dollars, euros, and British pounds among its Chinese customers since 2019.
According to Travelex, the US dollar's share of their Chinese business has dropped from 27% in 2019 to about 17% currently, while the demand for British pounds and euros has fallen from 12% to 7%. This shift is attributed to changing travel preferences influenced by Beijing's policies, including closer ties and visa exemptions with countries in the Middle East, Southeast Asia, and Latin America.
via SCMP Full Text Feed
