UK welcome mat for Chinese tourists

The simplification of the visa process for Chinese visitors to the United Kingdom could cause spending by this consumer group in London to go up by 141 percent, to 500 million pounds ($833 million) a year by 2020, a report said Thursday.

Total overseas spending in the British capital is expected to expand by 47 percent in the same period, said Marie Hickey, associate director of research at Savills, an international real estate adviser, in the report.

"The Chinese are now the biggest spending travelers globally, and with initiatives in place to make visiting the UK easier, the retail sector should see a positive impact over the forthcoming years, with London set to benefit the most," Hickey said.