American Express, the world leader in traveler's checks, is joining forces with Chinese travel agencies.
"Traveler's checks have gained some popularity in China. However, they are not as popular as they should be simply because not many Chinese are familiar with them," said Diannie Tsai, vice-president and general manager of American Express's global traveler's checks and prepaid services division, Greater China.
"American Express has partnered with China International Travel Service for promotional purposes and is seeking opportunities to forge cooperation with other travel or overseas educational agencies," she said, adding that those who travel or study abroad and travel agencies are its target consumers.
She said the convenience and safety of traveler's checks will make them increasingly indispensable to Chinese tourists, students and businesspeople.
Traveler's checks are available in seven currencies and 28 denominations, and can be cashed through more than 120,000 service outlets globally. They do not expire and are refundable when lost or stolen.
Citing the World Tourism Organization, she said China will provide the largest number of outbound tourists by 2020. China has already surpassed Japan to become the No 1 country in Asia in terms of outbound tourists.
A total of 40.95 million Chinese went overseas in 2007, with their average expenditure standing at $928. The number is expected to reach 44.8 million this year.
(China Daily April 25, 2008)
