Forecast: International Tourism Expenditures for Travel Items in China

International tourism expenditures for travel items in China stood at 266.58 Billion US Dollars in 2023. The trend over the past years witnessed significant fluctuations, peaking in 2018 at 277.27 Billion US Dollars before a notable decline in 2020 due to the pandemic. There was a robust recovery in the following years, with expenditures growing at an average rate of -0.78% (CAGR) from 2018 to 2023.

Year-on-year variations show a 12.44% increase in 2023. Looking ahead, forecasted data suggests a steady yet modest growth, with a 5-year CAGR of 1.08%, indicating expenditures expected to reach 285.41 Billion US Dollars by 2028.

Future trends to watch for:

• Recovery pace in post-pandemic international travel.

• Impact of economic conditions on consumer travel spending.

• Efforts by China to promote tourism and travel safety measures.