China's tourism spending to hit over $865 mn

Beijing: China's tourist spending is expected to be more than six trillion yuan ($865 million) in 2017, Xinhua news agency said citing a report.

The number of domestic, inbound and outbound tourists might reach over five billion in 2017, with outbound tourism expected to grow as more Chinese people have time and money to travel abroad, according to a report released by the China Tourism Academy and online travel agency giant Tuniu.com.

Chinese tourists are called "walking wallets".

Around 4.7 billion domestic, inbound and outbound tourists spent 5.5 trillion yuan in 2016, the report claimed.

Chinese tourists no longer prefer group tours and many go to suburban and rural areas.

Cruises and island tours are gaining popularity, with cruises expected to have earned 1.8 billion yuan in 2016.

China plans to raise tourism revenue to 7 trillion yuan by 2020, according to the country's five-year tourism plan. -Agency