Consumers from China are spending less, and certainly luxury brands in the US will feel the downturn at least in the short run, says luxury consumer expert Ben Cavender to AP. Tighter visa restrictions under President Donald Trump also make it harder for Chinese shoppers to get to the United States.
Category Archives: tourism
China’s luxury travelers are high on the agenda of the tourism industry, and Rupert Hoogewerf, publisher of the Hurun China Rich List, sees a few major trends. Family trips are emerging as a preference, and WeChat groups of alumni of key universities a forgotten way to connect to the luxury travelers, he tells in the South China Morning Post.
Earning back the investment to gain China users for your internet startup is tough because of the high costs, says Shanghai-based investment guru William Bao Bean to travel website TTG. Just a brilliant idea is no longer enough, you need a suite of services to survive.
The Chinese government tries to shift its economy from investment-driven towards consumption, with considerable success. And the outside world is equally seeing the consumption power of the Chinese, as they travel more than ever, and spend per head more than tourists from any other country.
But tapping into that huge spending power is not always easy, and is driven by the often hard-to-predict habits of Chinese consumers, policies by the government and the powerful social media. Experts at the China Speakers Bureau are happy to give your efforts direction.
The debate is taking off on whether China would allow gambling on Hainan Island. Financial analyst Sara Hsu explains gambling would diversify the tourism industry on the island, but would also hurt the economy in nearby Macau. Two earlier efforts on Hainan were already aborted for political reasons.
The developing trade war between China and the US focuses on tariffs for commodities, while China could hurt the US really nasty by deploying its consumer power by boycotting products, tourism and US-related education. Political analyst Victor Shih, author of Factions and Finance in China: Elite Conflict and Inflation, explains in Bloomberg why China has not done so.
The China Speakers Bureau is happy to announce that Hong Kong-based marketing veteran Ashley Dudarenok is joining her speakers’ agency. Ashley not only has 12 years of business and marketing experience in China, and is an expert on social media but also using those tools in a very creative way.
China is using its growing state power to put pressure on other countries and companies, but it is not only the government, argues business analyst Shaun Rein, author of The War for China’s Wallet: Profiting from the New World Order. The government has become very sophisticated in using also the consumer wallets to put pressure on foreign brands and tourist destinations, he tells The Diplomat.
How to deal with Chinese investors? That question is asked more frequently by government agencies, startups, larger and smaller companies outside China, and even soccer clubs. Capital is flowing over from China to the rest of the world, partly through the massive One Belt, One Road (OBOR) investment program. But many Chinese companies, private and state-owned, also have their own investment agenda.
At the China Speakers Bureau, we offer a range of speakers who can help you to deal with that question. There might not be one answer, but as China’s economic standing in the world changes, looking for possible answers becomes more crucial for the world outside China.
The autumn Golden Week is over and business analyst Ben Cavender looks at the trends among high-spending Chinese travellers. Unique places, convenience and safety top the agenda’s of Chinese tourists, he tells in CNBC.