Yuan's depreciation does not hinder Chinese from traveling. Not yet, at least

[webfact]

Yuan's depreciation does not hinder Chinese from traveling. Not yet, at least

SYDNEY: -- China's currency devaluation and slowing economic growth have caused turmoil in world financial markets, but they have not really bothered Chinese tourists. Not yet, at least.

A record 117 million Chinese traveled overseas in 2014, according to the Sydney-based Center for Asia-Pacific Aviation (CAPA) - more than double the 57 million in 2010 - and experts expect that trend to continue.

"The short-term outlook for Chinese outbound visitors remains strong and the long-term is bright," CAPA said in a report issued on Thursday.

Beijing's surprise devaluation of its currency on August 11, which is now trading at a four-year low against the US dollar, has sparked fears China's big-spending tourists will start staying at home.

But businesses on the ground say more relaxed visa policies and the strength of the yuan against Asian currencies mean Chinese tourists will remain not only the most numerous, but also some of the biggest spenders.

"It's not uncommon for a Chinese VIP player to gamble well over a million US dollars per trip," said Aaron Fischer, regional head of consumer and gaming research at brokerage and investment group CLSA. "There's probably 5,000 of them."

According to Xinhua, Chinese tourists spent US$164.8 billion in 2014, a fourfold increase compared to 2008. A whopping 88 percent of that was on shopping, it said, citing the China Tourism Academy, a government agency.

Full storyhttp://www.eturbonews.com/63162/yuans-depreciation-does-not-hinder-chinese-traveling-not-yet-lea

-- eTN 2015-08-31

[Nobb]

Either the Chinese government is paying to send tourist to Thailand to keep there friendly relationship alive or the Chinese tourist are very desperate for a vacation. Not that many wealthy Chinese really want to come to Thailand!

[Srikcir]

"It's not uncommon for a Chinese VIP player to gamble well over a million US dollars per trip,"

Sorry but that isn't acceptable in Thailand. Better to have a Chinese tourist spend Bt2000 per day on trinkets.

[wabothai]

Tickets for a holiday have been paid for a long time before the devaluation.

Devaluation of the yuan is not a reason for refund of a ticket.

When do these people get that through their head?!!