Outbound travel from China is expected to take a hit as the RMB continues to weaken. Travel agencies in the U.S. say many overseas tourists have scaled back their spending on gifts and shopping for luxury goods.

“We haven’t seen clients cancelling their trips because of the falling yuan. Because air tickets are very cheap now, with one way tickets from China to the states sometimes as low as U.S.$300. Therefore, the depreciation of the RMB doesn't really impact air-tickets,” said Jia Juan, general manager of CCH International Travel.

“But the costs of hotels, car rental, and tour guides have risen, so Chinese tourists want to cut down their travel itinerary.”