{"id":26977,"date":"2016-09-23T16:36:01","date_gmt":"2016-09-23T09:36:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-chinese-tourists-sneaking-billions-into-offshore-real-estate\/"},"modified":"2016-09-23T16:39:57","modified_gmt":"2016-09-23T09:39:57","slug":"are-chinese-tourists-sneaking-billions-into-offshore-real-estate","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-chinese-tourists-sneaking-billions-into-offshore-real-estate\/","title":{"rendered":"Are Chinese tourists sneaking billions into offshore real estate?"},"content":{"rendered":"


\nHigh-flying travellers may be packing more than sunscreen and selfie sticks in their designer luggage
\nImagine some wodges of cartoon cash in these suitcases. bus109\/Shutterstock
\nChina\u2019s tourism deficit, the difference between foreign visitor expenditure in China and Chinese visitor expenditure abroad, has reached a not-to-be-scoffed-at USD206 billion in the 12 months through June 30, compared with USD77 billion in 2013, Bloomberg reported.
\nCrunching those numbers, Brad Setser, a senior fellow at the Council on Foreign Relations in New York and former US Treasury official, suggested that such significant capital outflow may have ended up in the real estate world.
\nAlthough outbound Chinese tourism hit 120 million in 2015, the deficit numbers are too massive to chalk up to splurges on luxury handbags in Italy or baubles in Switzerland. In other words, Chinese tourists could be splurging on bigger-ticket items such as luxury homes.
\nMore: This US city is seeing an influx of Chinese investment<\/p>\n

Other Chinese tourists are stashing their cash in foreign debit accounts or applying for life insurance products in Hong Kong, reported Setser. The Chinese government has been raring to put a stopper on capital flight since the yuan went on a depreciation streak in 2014. The currency\u00a0has weakened 10 percent against the US dollar.
\n\u201cRight now, the world as a whole needs Chinese demand for its goods and services far more than it needs Chinese demand for bank deposits and bonds,\u201d said Setser. \u201cIt helps us understand how the slowdown in China over the past few years is impacting world growth.\u201d
\nRead next: What the US interest rate hike means for Asia\u2019s biggest property markets
\n
\nSource : property-report.com
\nRead more…Are Chinese tourists sneaking billions into offshore real estate?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

High-flying travellers may be packing more than sunscreen and selfie sticks in their designer luggage...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26977","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-717","jetpack-related-posts":[{"id":167953,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tourism-boom-powers-uae-growth-as-visitor-spending-climbs\/","url_meta":{"origin":26977,"position":0},"title":"Tourism boom powers UAE growth as visitor spending climbs","date":"December 22, 2025","format":false,"excerpt":"\r Rising tourist expenditure, strong arrivals and sustained investment are reinforcing the UAE\u2019s tourism sector as a key economic driver The post Tourism boom powers UAE growth as visitor spending climbs appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r \r Source :\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/12\/UAE-tourism-investment-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":24274,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesia-to-develop-10-bali-like-destinations-to-attract-chinese-investors\/","url_meta":{"origin":26977,"position":1},"title":"Indonesia to develop 10 \u201cBali-like destinations\u201d to attract Chinese investors","date":"August 29, 2016","format":false,"excerpt":"\r Indonesia sets out to lure Chinese investors with new resorts and relaxed restrictions Bali is Indonesia\u2019s No. 1 tourism destination. 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