Wednesday, August 21, 2024

China recovers position as top travel spender in 2023

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In 2022, the list of top spenders was headed by the US, France and Spain, and the US took the top spot for most-visited destination. 

2023 big spenders

Chinese expenditure on travel abroad reached $196.5b in 2023, ahead of the US ($150b), Germany ($112b), the UK ($110b) and France ($49b).

Rounding out the top 10 spenders for 2023 are Canada, Italy, India, the Russian Federation and the Republic of Korea. India jumped to eighth place from 14th in 2019, confirming the growing importance of the country as a source market, while Italy rose from 10th to seventh position.

France most visited

France consolidated its position as the world’s most visited destination in 2023 with 100m international tourist arrivals. Spain was second with 85m, followed by the US (66m), Italy (57m) and Türkiye, which closed the top five with 55m international tourists. 

Completing the top 10 most visited destinations in 2023 are Mexico, the UK, Germany, Greece and Austria. Compared to before the pandemic, Italy, Türkiye, Mexico, Germany and Austria all rose one position, while the UK rose from 10th to seventh and Greece from 13th to ninth.

US leads in tourism earnings

When it came to international tourism receipts, the US led, earning $176b in 2023, followed by Spain ($92b), the UK ($74b), France ($69b) and Italy ($56b).

After these countries, destinations earning the most from international tourism in 2023 include the United Arab Emirates, Türkiye, Australia, Canada, Japan, Germany, Saudi Arabia, Macao (China), India and Mexico, completing the top 15 list of tourism earners. 

Upward movements in the ranking among the top earners include the UK jumping to the third position from fifth pre-pandemic, the UAE from 13th to sixth, Türkiye from 12th to seventh, Canada from 15th to ninth, Saudi Arabia from 27th to 12th and Mexico from 17th to 15th. 

Croatia (from 32nd to 25th), Morocco (from 41st to 31st) and the Dominican Republic (43rd to 34th) also moved up in the top 50 ranking by receipts in 2023, as did Qatar (from 51st to 37th) and Colombia (50th to 44th).

Full global recovery forecast

As per the latest UN World Tourism Barometer, in 2023 international tourist arrivals recovered 89% of 2019 levels and 97% in first quarter 2024. UN Tourism’s projection for 2024 points to a full recovery of international tourism with arrivals growing 2% above 2019 levels, backed by strong demand, enhanced air connectivity and the continued recovery of China and other major Asian markets.

Total export revenues from international tourism, including both receipts and passenger transport, reached an estimated $1.7t in 2023, about 96% of pre-pandemic levels in real terms. Tourism direct GDP recovered to pre-pandemic levels in 2023, reaching an estimated $3.3t, equivalent to 3% of global GDP.

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