One of the most ‘compelling’ growth stories on the planet
|09/17/2016||Posted by BusinessMediaguide.Com under General World News||
China’s middle class is booming. And with that explosion of wealth comes the opportunity for the Chinese to try and experience new things, including traveling abroad.
While only about 6% of Chinese citizens have passports, their overseas spending is the highest in the world, amounting to about $200 billion over the last three years, or about the size of Greece’s economy. Their spending has gotten so crazy that Japan even created a new word, bakugai, to explain their “explosive buying.”
While Japan has no doubt been a big beneficiary of Chinese tourism, it doesn’t even come close to being read more >>>