After visa waivers, foreign visitor spending hit records

Offsetting the services deficit

The State Administration of Foreign Exchange calculates that travel receipts surged 37% to reach a record 55.2 billion dollars in 2025. This influx of foreign capital is reshaping the balance of payments by partially offsetting massive outflows from domestic tourists traveling abroad. The rapid expansion of inbound tourism narrowed the persistent travel service deficit by 6% to 198.8 billion dollars.

The World Travel and Tourism Council tracks the physical movement driving these financial flows, recording 68 million international arrivals in 2025, which represents a 15.5% annual increase. A primary catalyst for this shift is the systematic dismantling of entry barriers, as arrivals from visa-exempt markets grew by 18% in a single year.

Source institutions：State Administration of Foreign Exchange

This content is for reading and understanding research reports. It does not constitute investment advice or trading signals.