Looking to expand your horizons for new clients but wondering where's best to look? Flight comparison site Skyscanner investigated which countries like to flash their cash the most when they travel— the Germany is in the lead, but China is hot on their trail. With the world economy apparently on the road to recovery, tourism will play a huge part in many countries' income and competition is high to capture the biggest share of that market.
At number one, it's the Germans who spend over $90 billion a year on their travels, a disproportionate amount compared to their population which numbers just over 80 million, less than a third of the next biggest spenders - the U.S., who splash $79.7 billion a year on holidays. Known for tipping big in restaurant and bars, Americans certainly know how to spend.
In third place it's the UK, who splurge $68.5 billion to escape the UK on cheap flights each year. France, which is also the world's most popular country in terms of tourist arrivals, empties their wallets of $42.1 billion per year, whilst the Chinese spend $36.2 billion annually on their travels.
"It will be very interesting to see how tourist spending changes since the downturn," said Barry Smith, Skyscanner co-founder and business director. "So far, the latest figures show that only the Japanese spent less on international tourism than the previous year. China is fast rising, spending 21 percent more on their global travels, and are likely set to grow even more. Meanwhile, it's the Germans who remain the world's biggest spending tourists, and there would have to be significant change for anyone else to catch up with them."
The Top Spending Travelers
1. Germany - $91 billion
2. U.S. - $79.7 billion
3. UK - $68.5 billion
4. France - $43.1 billion
5. China - $36.2 billion
6. Italy - $30.8 billion
7. Japan - $27.9 billion
8. Canada - $26.9 billion
9. Russia - $24.9 billion
10. Netherlands - $21.7 billion