China's emerging middle class is set to ignite growth in Europe's tourism industry as rising incomes and currency appreciation will help lift the overseas spending of travelling Chinese by more than a third, according to new research.

The Financial Times's China Confidential's report, titled Outbound Travel Flying High, said overseas travel for China's middle class will generate around $160bn (€122bn / £106.5bn) in total spending, a 34 percent increase from last year. Nearly half of that total, the report said, could be spent on consumer goods.

The report, which surveyed 1227 middle income consumers and 39 travel agencies in ten first and second-tier cities across China, said France, UK, Italy and Germany are at the top of the list of China outbound destinations.

Meanwhile 90 percent of their top ten dream holiday destinations are also in Europe.