Despite fears that an economic slowdown, currency devaluation and stock market fluctuations will lessen Chinese travellers’ demands for international travel, long-term growth prospects remain strong for Chinese travellers, according to a new report from Fung Business Intelligence Centre and China Luxury Advisors.

The report notes China’s outbound traveller numbers are still growing and are expected to double by 2020 to 234 million passengers, from more than 100 million last year.

This year, Chinese tourist spending overseas is forecasted to increase to $229 billion, up 23 per cent from a year earlier, with purchases of clothing, footwear, cosmetics and electronics ranking at the top of the list, according to the “Global Chinese Shoppers: The $200 Billion Opportunity” report. Spending is set to more than double within the next five years to $422 billion.

Top destinations for Chinese travelers, according to the report, include Hong Kong, Thailand, South Korea, Japan, Europe, Taiwan and the United States.

The report cites a survey of more than 1,000 Chinese regarding their travel and spending for the year ending May 21, 2015, combining that data with economic and tourism growth projections.

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