Asia’s biggest overseas spenders revealed

FILE PHOTO: Tourists from India dance near the Colosseum in Rome, Italy April 26, 2024. REUTERS/Guglielmo Mangiapane/File Photo

Following the interruption of the COVID-19 pandemic, travel is starting to rebound. These insights show how Asia's top spenders spend their money abroad.

The Asian continent has some of the world's biggest overseas spenders.

Based on 2022 United Nations World Tourism Organisation data(UNWTO), the biggest spenders in Asia while travelling abroad, according to Merchant Machine a UK payment guide website have been revealed.

Here are the top five biggest overseas spenders from Asia:

  • South Koreans ranked first in Asia and second-highest total in the world with an average spending of $3,040.
  • Singaporeans ranked second with an average spending of $2,966.
  • Taiwan is ranked third on this list with an average spending of $2,096.
  • Indonesia comes in fourth place with an average spending of $1,861.
  • China wraps up the top five with an average spending of $1,647.

Merchant Machine utilised UNWTO data to determine average travel expenditures for 94 nations. Analysing the total outbound expenditure for each country, dividing it by the total departures reported by some countries as "overnight visitors."

Out of all Asian countries, South Koreans spend the most money, but they take the fewest annual leave days. In a 2016 report, it was revealed that out of the 15 vacation days offered, only 8 vacation days were taken.

The Merchant Machine report suggests that South Korean tourists may spend a lot because they maximise their expenditures during the brief time they get away from home each year.

While they rank second as the biggest overseas spenders in the world, when they do travel overseas, Japan is a common destination.

Meanwhile, Latin America's biggest overseas spenders are Brazilians, while Moroccans top the list in Africa.

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