SINGAPORE (Feb 20): Singapore emerged as the third largest market in Southeast Asia for Chinese tourists spending over the Chinese New Year, with an increase of 34% in average spending per Chinese tourist, according to a joint report released by Nielsen and Alipay.
The research dived into the overseas spending and mobile payment behaviour of Chinese consumers across 54 markets where Alipay is accepted for the period from Feb 4 to 10, the first week Chinese New Year.
The report, titled 2018 Trends for Mobile Payment in Chinese Outbound Tourism, showed that 60% of merchants that had adopted Alipay reported growth in revenue and foot traffic, while offline in-store transaction value jumped 2.2 times y-o-y.
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