Chinese move into 1st place in tourism spending

Chinese tourists have overtaken Germans as the world's biggest-spending travelers after a decade of robust growth in the number of Chinese vacationing abroad, the United Nations World Tourism Organization said on Thursday.

Chinese tourists, known for traveling in organized tours and snapping up luxury fashion abroad, spent $102 billion on foreign trips last year, outstripping deep-pocketed travelers from Germany and the United States.

Chinese tourists spent 41 percent more on foreign travel in 2012 than the year before, beating the close to $84 billion both German and US travelers parted with last year.