[photopress:travel_Hong_Kong_1.jpg,full,alignright]More Chinese tourists are expected to travel to overseas destinations such as Hong Kong with the appreciation of the RMB against the US dollar. For Chinese travelers, it means stronger purchasing power in the United States and other countries and regions that use US dollars or peg their currencies to it.
Since Chinese tour groups are still unable to organize trips to the US, it is destinations such as Hong Kong, with its currency pegged to the US dollar, that attract tourists from the Chinese mainland.
Guo Guang, manager with ctrip.com, an online travel service, said, ‘More people have called to inquire about our Hong Kong tour packages than usual.’
So far, the number of customers who purchased Hong Kong tour products from ctrip.com has increased by 70% year-on-year.
But outbound travel is not being seriously driven by the rise and rise of the renminbi. Dun Jidong, marketing director of the China Travel Service’s overseas tourism department, said, ‘The current yuan appreciation can only serve as an auxiliary factor to the booming outbound tourism market. If it is to prompt much more people to travel overseas, the appreciation has to be so significant that it leads to a huge drop in the price of outbound tour products.’
Source: China Daily