Travel boom reshapes spending

Chinese consumers' spending on dining, hotels and entertainment has surged more than 60 percent in the past three years because of increased overseas travel, a report said on Wednesday.

UnionPay International, a unit of China UnionPay Co Ltd whose activities include cross-border transactions, surveyed Chinese consumers in more than 140 countries and regions. The research showed the compound annual growth rate of Chinese consumers' spending on dining in the past year was more than 65 percent, while the CAGR of entertainment spending was more than 60 percent.

"Chinese consumers are spending beyond duty-free stores and international luxury brands," said Cai Huiming, an analyst with UnionPay International. "They are also shopping for groceries, snacks, cosmetics and toys in local shopping malls and grocery stores. It's a sign that Chinese consumers stay longer and delve deeper into local lifestyles than ever before when they travel overseas."