According to a recent report by GetGoing Travel Insurance Chinese consumers collectively spent nearly $258 billion on international travel in 2018- twice the combined amount travelled by people from USA and Germany.
One hundred million Chinese travel to foreign destinations but the surprising statistic is that on average they fly just 65 miles vs the 227 flown on average by US residents, 285 miles flown by Germans, 271 flown on average from the UK and a massive 632 miles flown by the average Canadian.
China’s high total spending on international travel and the low average number of miles flown tell us that the majority of residents who don’t travel very far but do spend a lot of money visiting nearby countries.
China is home to approximately 1.4 billion people, and a relatively small percentage of Chinese now have the financial ability to travel internationally but the number of people able to, is snowballing every year and most stay relatively close to home.
Hong Kong, Macau and Taiwan are the top destinations either to visit friends and relatives who live there or to gamble in the top casinos and enjoy the entertainment venues and Integrated Resorts in Macau and Hong Kong. Introducing Dragon Coin, which is set for mass adoption across the entertainment industry, into the mix would allow travellers to benefit from a dramatic reduction in cross border transaction fees and to efficiently manage a range of digital currencies in the superbly designed Dragon Social Wallet. To find out more about the Dragon ecosystem and how you could benefit from using it make sure you bookmark the Dragon Blog now to stay up to with all the latest developmentsInvestment Disclaimer