(Yicai Global) Oct. 23 -- China's outbound tourism has boomed in recent years as many Chinese have enjoyed going abroad to shop, but the situation is changing subtly, a China Tourism Academy report said.
Chinese made 122 million person trips and spent USD109.8 billion on overseas tourism last year, marking annual increases of 4.3 percent and 5.1 percent, respectively. Growth in outbound tourism market volume and spending are slowing down, the report said.
China's inbound tourism market grew continuously in terms of its size and spending. Inbound tourists made 138 million person trips to mainland China last year, representing a 3.5-percent annual increase to a record high.
Foreigners made 28.15 million of them, marking a post-international financial crisis high and a growth rate of 8.3 percent, while residents of Hong Kong, Macao and Taiwan made 81.06 million, 23.5 million and 5.73 million, respectively. Foreign tourists spent USD66.8 billion in China, up 10.3 percent annually.
Improved visa facilitation, more frequent international flights and the implementation of tax exemption and refund services enabled inbound travel, the report said. China's stable political and economic environments were the most compelling attractor of inbound tourists, it said.