CHINESE visitors spent an estimated 3.52 billion Singapore dollars (US$2.58 billion) in Singapore past year, increasing 39 percent or 1 billion Singapore dollars from 2015, the Straits Times reported on Wednesday.
Statistics from the Singapore Tourism Board show 2.86 million Chinese visitors arrived in Singapore last year, up 36 percent year on year.
The latest Hotels.com survey of Chinese travelers shows they spend more than a quarter of their income on overseas trips, but they’re shopping less and splashing out more on dining and sightseeing.
Singapore is the top favourite holiday destination in Asia Pacific (APAC) for travellers from China, according to a Hotels.com survey released on Tuesday, July 18.
While Australia is still one of the top destinations for Chinese travellers, seeing a 17% increase in visitors in 2016 compared to 2015, the Chinese are spreading their wings to discover more exotic lands, with increased travel to Europe, the US, South America and Central America and decreased travel to Japan and South Korea.
It combines data from more than 3,000 Chinese worldwide travellers and over 3,800 Hotels.com accommodation partners globally with Hotels.com’s own data and other third-party research.
Mainland tourists could make 200 million outbound trips by 2020, according to investment firm CLSA, while JP Morgan expects growth of between 10 and 12 per cent in the coming two years.
“It is important that hoteliers continue to adapt to the evolving needs of this market and develop tailored hotel services that tap into the enormous spending power of Chinese travellers”.
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The study also concluded the country’s own economic slowdown, and its tightening reins on capital outflows, have had little effect on spending by Chinese travellers – in fact, many said they planned to increase their spending by an average 10 per cent over the next year.
And those with passports are travelling for longer periods and spending more.
The Chinese International Travel Monitor is based on web-based interviews with 3,000 Chinese travelers and nearly 4,000 accommodation providers globally, including 74 in New Zealand.
In addition, the research also revealed that on average, these Chinese tourists about seven days in Singapore, with an average expenditure of S$610 per day.
Interestingly, shopping is no longer the main attraction for them.