31 Mar '11, 2am

China may eclipse Japan to be world's No. 2 tourism market

China may eclipse Japan to be world's No. 2 tourism market

Chinese tourists prefer to buy luxury goods overseas or in Hong Kong (above) and Macau. -- PHOTO: AGENCE FRANCE-PRESSE BEIJING: China will likely overtake Japan to be the world's second-biggest tourism market by 2013 as rapid economic growth and rising incomes spur travel, Boston Consulting Group (BCG) said. China's domestic and international tourism will increase 14 per cent annually to 5.5 trillion yuan (S$1.05 trillion) in 2020 from last year's 1.5 trillion yuan, BCG said in a report yesterday. The world's most populous nation will account for 8 per cent and 14 per cent of global tourism revenue in 2013 and 2020 respectively, up from 6 per cent last year, managing director of BCG Greater China Vincent Lui said. The United States will remain at the top, with a share of 27 per cent in 2013 and 25 per cent in 2020, while Japan's share will fall to 8 per cent in 2013 and 6 ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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