SHANGHAI - Chinese tourists are expected to spend more than 300 billion yuan ($45 billion) this summer on traveling to escape the heat, according to a report released Wednesday.

The report by China Tourism Academy and Ctrip.com, a leading travel website, estimated that about 500 million trips will be made to escape hot weather in July and August, accounting for about 10 percent of overall domestic trips in 2018.

Elderly people, teachers and students on their summer holiday, as well as residents of some Chinese cities with extreme hot weather are the main contributors to the "summer economy," said the report, adding that Shanghai is likely to be the top source city of summer travelers.

Travelers longing for a cool summer are more likely to choose seaside and lakeside towns and mountainous regions as their destinations, it added.