The robust growth in international tourism is continuing, according to the United Nations World Tourism Organization. 2017 witnessed the highest increase in the total global travel spending in the past eight years – around 1.34 trillion U.S. dollars. China has kept its leading position in the global tourism market since 2012 with outbound tourists spending almost 258 billion U.S. dollars last year, around 20 percent of the world’s total spending on tourism.
Due to a combination of factors such as the emergence of a newly rich Chinese middle class, easing travel restrictions by the Chinese authorities, simplified destination visa policies, and increasing numbers of direct flight connections from China, Chinese citizens became the largest contributors to the global outbound tourism market and the main source of tourism cash across the world. While Chinese touristsare still famous for spending thousands on high-end luxury foreign brands, new spending behavior trends are emerging, particularly among more experienced Chinese travelers. In 2017, Chinese travelers turned more towards enjoying niche sectors like whisky tasting, aurora chasing, outdoor activities and other high-quality and less mass-oriented products and experiences.
The number of Americans moving home hit a record low as the pandemic struck
Only 26.5 million Americans moved from one U.S. home to another between March 2020 and March 2021, according to the Census Bureau’s Current Population Survey.