The United Nations World Tourism Organisation (UNWTO) just released new data on tourist spending in 2014.
Last year international tourism generated over $US1,245 billion around the world. Tourism is obviously a huge moneymaker for countries that are top travel destinations, but some tourists spend more than others.
Unsurprisingly, Chinese people spent the most when travelling abroad, spending a total of $US165 billion in 2014. The luxury market has become increasingly dependent on Chinese shoppers, who spend the most at designer stores in top destinations like London. High-end retailers like Tiffany & Co. and Louis Vuitton employ Chinese translators at their stores to stay competitive.
Meanwhile, other emerging markets that used to be big spenders, like Russia and Brazil, spent significantly less last year.
Americans spent $US112 billion while travelling abroad last year — that’s 7% more than the previous year, perhaps due to a stronger dollar. Germans were also big spenders, spending $US92 billion.
Other countries that increased spending on travel last year include the UK (4% more), France (11% more), and Italy (6% more).
See the top five tourism spenders in the chart below.
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