Mailman X Business Weekly | June 7
Here is China’s top tourism business news that you need to know from this week:
China sees growing parent-child tourism
For this year’s Children’s Day, which falls on Saturday, Deng Mo and his wife drove their son to the city of Suzhou, about 100 km away from Shanghai where the family lives. Many parents similarly spent the weekend with their children, according to Shanghai-based online agency Ctrip. The platform said bookings for parent-child hotels increased nearly 60 percent year on year this weekend, with Sanya, Shanghai, Hangzhou and Suzhou among the most popular destinations. Read more here.
Mailman Take: Travel is becoming a bigger part of family bonding, starting at a very young age parents are looking to educate their children through travel experiences. While parents with younger children tend to stay close to home, it is also common for young adults to take their parents on trips as well. Families look for cultural experiences such as museums and education as great things to do together. Getting children interested in travel at a young age is great as it leads to a travel lifestyle in the future.
Also this week:
Luxury retailers find growing opportunities in China
According to a report from Bloomberg, the luxury brand’s CEO, Michael Burke, “gave a rosy view of its China business, easing concerns about the effects of a trade war with the U.S. Consumers in the key luxury market have been buying more handbags and watches at home instead of abroad in recent months, a trend that [Louis Vuitton] Chief Financial Officer Jean-Jacques Guiony has previously flagged.”Read more here.
4 trends driving food-tech innovation in China
Economists around the world have closely watched Chinese consumers for several years as indicators of global economic growth. As the largest population in the world this is, of course, no surprise, but even as China’s economic growth slows — it’s down to 6.6% per year from a high of 14.2% in 2007 — it’s important to keep track of, particularly in relation to the food industry. Read more here.
Chinese tourism to the U.S. is down after years of booming growth
For years, a record number of Chinese tourists have flocked to U.S. attractions like Hollywood, Capitol Hill, and the Grand Canyon. But their numbers are now falling. The strong dollar has made U.S. travel more expensive and tourism to the U.S. has matured – just as trade and political tensions have grown between the countries. Read more here.
Chinese tourists can hail taxis globally via Alipay and Splyt partnership
Ant Financial Service Group’s Alipay has partnered with Splyt Technologies, a UK mobility startup, to provide Chinese tourists with the ability to hail taxis via the in-app Alipay mini program when traveling overseas. The Splyt platform – which reaches 1.5 billion users in over 50 countries and territories – will provide Alipay users access to its network of transport partners in over 1,000 cities, without the need to download a new app. Read more here.
EU-China tourism year boosts travel to all corners of Europe
While the EU-China Tourism Year 2018 (ECTY 2018) has officially come to an end, the success of the initiative continues to be felt, with growing numbers of Chinese tourists putting European destinations at the top of their tourism agendas throughout 2018 and beyond. Agreed in 2016 by the Chinese Prime Minister and the President of the European Commission, the European Travel Commission (ETC) played a key role from the outset in what was a unique opportunity to attract more Chinese travellers off the beaten path, stipulate economic cooperation in the tourism sector, and give extra impetus to EU-China visa facilitation and air connectivity. Read more here.
Thirty years on The rise and decline of the Chinese consumer
Two generations of Chinese people have spent most of their lives in an atmosphere of seemingly boundless economic possibility. But now, that looks like it may be changing. An economic slowdown, compounded by a trade war with the United States that’s approaching its second year, is forcing many Chinese consumers to change not only how they spend, but also how they save, especially compared with their parents. Read more here.