According to the latest data released by the State Administration of Foreign Exchange, China’s tourism trade deficit reached $237.4 billion in 2018, an increase of $21.4 billion over the prev
ious year. While the record high figure reflects the growing scale of outbound tourism consumption by domestic residents, it remains qu
estionable whether the domestic demand is so strong that it even caused the record outbound tourism consumption.
However, by analyzing relevant reports and statistics, I believe some of the figures about China’s tourism industry may
be dodgy, which could therefore be misleading for investment decision-making and should be clarified.
According to the preliminary statistics of the China Tourism Academy, Chinese travelers made 140 million outbound trips in 2018, up 1
1 million from 129 million in 2017. To a certain extent, the steady increase in the number of Chinese o
utbound trips indicates that the consumption is still growing and not falling.
But the important question is how many people actually traveled abroad