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China’s Tourism Spending Projected to Surpass $1.2 Trillion by 2020

China’s expenditures on tourism are expected to surpass $1.2 trillion (8 trillion yuan) by 2020, contributing more than 10 percent of the country’s GDP, according to the recent China Tourism Development Report released by the China National Tourism Administration. About 160 million foreign travelers will visit the country annually, generating tourism revenue of more than $160 billion. China ranks #1 in the world in domestic tourist trips, outbound trips and tourism consumption. The tourism development report was released ahead of the First World Conference on Tourism for Development being held in Beijing.

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