They fear currency's devaluation will develop into a deeper dent in their spending power
Thu, Aug 13, 2015 - 5:50 AM
The World Tourism Organization says China was the biggest "outbound" tourism spending country in 2014, with US$165 billion laid out, up 28 per cent from 2013. In 1995, the Chinese spend was just US$3.7 billion.
THE Chinese tourists who have become a common sight in the world's major cities fear their wings will be clipped if Tuesday's shock yuan devaluation develops into a deeper dent in their spending power.
More than 100 million Chinese travel abroad every year, buying more...