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'Revenge spending' by Chinese tourists could boost global economy

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In the years before the Covid-19 pandemic, China was the worlds most important source of international travelers — its 155 million tourists spent more than a quarter of a trillion dollars beyond its borders in 2019, the media reported.
That largesse fell precipitously over the past three years as the country essentially closed its borders. But, as China prepares to reopen on Sunday, millions of tourists are poised to return to the world stage, raising hopes of a rebound for the global hospitality industry, CNN reported.
Although international travel may not return immediately to pre-pandemic levels, companies, industries and countries that rely on Chinese tourists will get a boost in 2023, according to analysts.

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