Chinese tourists visit retailer Laox's Ginza store to shop in Chuo Ward, Tokyo, Feb 18, 2015. [Photo/IC] |
The number of outbound Chinese tourists will surge 19 percent to 139 million this year and rise to 164 million in 2016, which will boost global duty-free and travel-related retail sales, Lim said.
Last year, Chinese tourists spent more than $163 billion on overseas shopping.
Chinese spending on tax-free shopping could hurt the country's retail sales, Lim said. Last year, Chinese duty-free spending grew 18 percent, faster than the 12 percent rise in domestic retail sales, based on Bloomberg Intelligence.
Chinese visitors to Japan surged 113 percent from a year ago in April, the 19th straight month of more than 40 percent growth as weaker yen fell against Chinese currency, data from Bloomberg Intelligence.
With South Korea grappling with MERS and other countries easing visa restrictions, Japan and other nations will draw more Chinese visitors, Lim said.