September 11 2018  |  Industry News

Alipay’s overseas Chinese spending heats up this summer

By Hibah Noor

Chinese payment specialist Alipay has reported that overseas spending by Chinese travelers “skyrocketed” this summer compared with last year’s figures.

During the two-month summer holiday between July 1 and August 31, Alipay processed 2.6 times as many in-store overseas transactions compared to the number of overseas transactions in the same period last summer.

Asia continued to dominate the list of top 10 countries and regions in terms of summertime overseas Alipay transactions. Hong Kong topped the list, followed by Thailand and South Korea.

In Singapore, the average spending per Alipay user was 1,759.13 RMB (approx. S$352.35/US$256.23) in the summer of 2018. This was a 32% average increase in spending per Alipay user and a 320% total increase in spending for the same period in 2017.

In Malaysia, the average spending per Alipay user was 1,528.28 RMB (approx. S$306.23/US$222.69) in the summer of 2018. This was a 106% average increase in spending per Alipay user and a 511% total increase in spending for the same period in 2017.

In Thailand, the average spending per Alipay user was 2,094.40 RMB (approx. S$419.67/US$305.18) in the summer of 2018. This was a 19% average increase in spending per Alipay user and a 104% total increase in spending for the same period in 2017.

The number of Alipay transactions in Russia increased by over 5,000%, as Chinese travelers flocked there in July for the FIFA World Cup.

Of the 80-plus airports that support instant tax refunds via Alipay, airports in South Korea recorded the highest amount of tax refunded, followed by airports in Europe.

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