2013- multiplying the contribution of chinese tourism to qld

Assisting Take OffFor Chinese Inbound Tourism To

Queensland

John GreggPrincipal, Navigate Consulting

Presentation to Jann Stuckey

Minster for Tourism, Queensland State Government

October 15th, 2012

Agenda

1. China – Australia’s success story

– 10 year growth rates

2. Queensland a high performer with an ambitious five year goal– Economic impact of Chinese inbound tourism– Arrivals and expenditure growth and trends

3. China 2016 goals, challenges and opportunities – Other states want their share of the Chinese action– TQ must address some key targeting and yield challenges

4. Understanding the Chinese outbound market – heterogeneity is the norm– The big three – Yangtze River Delta, Pearl River Delta and North and North East– Tourism Queensland’s priority cities – Emerging and future frontiers – the next 1000+ cities

5. The Chinese traveller – then, now and the future– The rise of the Fully Independent Chinese Traveller (FIT)– Moving from,“ticking off” attractions; shifting to a desire for true relaxation– Understanding and marketing to discrete Chinese tourist segments

6. Industry and Distribution Analysis– China Travel Distribution Baseline– Media / Communication Channels– Forming parerships with Chinese wholesalers-identifying the key players, importance of ‘reciprocity” and “Guanxi”

7. Attracting Chinese FDI to Australia’s tourism sector– Current status and existing and future tourism investment prospects– Throw out much of what you’ve learnt, this time it’s different– Leveraging Austrade’s expertise and resources

Inbound Chinese tourism growth has averaged 13.4% p.a over the decade 2001-2011

Source – Tourism Research Australia, 2012

Drivers are varied but include;• Week-long holidays stimulate outbound travel

– Three “golden weeks” each year – Labour Day (May), National Day (October) and Spring Festival (late January/early February).

• Rapidly diversifying travel products and services

• Increasing number of flights and routes to and from China cities

• Increasing number of aviation ports

– 2004 – 7 international airports

– 2011 – 57 International airports with another 26 under construction

• State Council approved deregulation of travel agency/operator market to allow foreign entrants (2011 final structure still being confirmed) to offer outbound tour services to Chinese tourists.

• Increased number of Chinese and Asian low cost carriers - AirAsia, JetStar, Tiger Airways, etc.

• Explosive growth of online ticket and hotel booking platforms such as Ctrip and Elong

• Appreciation of RMB to USD/AUS and Euro stimulates the willingness to travel

• Special promotions by ADS destinations to target Chinese travellers

• European and US key destinations are investing heavily in recruiting and training Mandarin speaking staff (Australia sadly lags well beyond in this area)

Agenda1. China – Australia’s success story


2. Queensland a high performer with an ambitious five year goal

– Economic impact of Chinese inbound tourism

– Arrivals and expenditure growth and trends

3. China 2016 goals, challenges and opportunities

– Other states want their share of the Chinese action

– TQ must address some key targeting and yield challenges

4. Understanding the Chinese outbound market – heterogeneity is the norm

– The big three – Yangtze River Delta, Pearl River Delta and North and North East

– Tourism Queensland’s priority cities

– Emerging and future frontiers – the next 1000+ cities

5. The Chinese traveller – then, now and the future

– The rise of the Fully Independent Chinese Traveller (FIT)

– Moving from,“ticking off” attractions; shifting to a desire for true relaxation

– Understanding and marketing to discrete Chinese tourist segments

6. Industry and Distribution Analysis

– China Travel Distribution Baseline

– Media / Communication Channels

– Forming parerships with Chinese wholesalers-identifying the key players, importance of ‘reciprocity” and “Guanxi”

7. Attracting Chinese FDI to Australia’s tourism sector

– Current status and existing and future tourism investment prospects

– Throw out much of what you’ve learnt, this time it’s different

– Leveraging Austrade’s expertise and resources

Tourism is a cornerstone of the Queensland economy

• Contributes $17.7 billion to the Queensland economy and accounts for 7.1 percent of

Queensland’s Gross State Product (GSP).9

• Directly contributes $8.4 billion to the Queensland Economy.

• Indirectly contributes an additional $9.2 billion to the Queensland Economy.9

• Generates $3.8 billion annually as an export earner. 10

• Is the second largest export earner for Queensland, behind coal. 11

Notes & Sources9 Tourism Research Australia, State Tourism Satellite Accounts 2009-1010 International Visitor Survey, Tourism Research Australia, year to March 201211 Office of Economical and Statistical Research, year to June 2011

China and to a lesser extent India and South East Asia are the bright lights in otherwise dark times for traditional EU, NA and UK inbound markets

30%

25%

20%

15%

10%

5%

0%

-5%

-10%

-15%

-20%

Arrivals % chg - YE Jun 11 Visits to QLD (% chg) - YE Jun 11

Source - 2011, Tourism Research Australia, International Visitor Survey, YE June 2011

In recent years Chinese inbound growth in Queensland has outstripped the rest of Australia

Vis

itors

(‘0

00)

50

100

150

200

YE Jun 03 YE Jun 04 YE Jun 05 YEJun 06 YE Jun 07 YE Jun 08 YE Jun 09 YEJun 10 YE Jun 11

Total Leisure

Chinese visitors to Queensland

198,000+ 25% on 2010

0

• 25% 2011 YOY growth was driven by first time leisure travellers.

• 77% of Chinese visitors to Qld are on holiday compared with 56% of visitors to Australia overall • Implying one of Qld’s competitive

assets is its’ perceptions as an appealing, multi-faceted holiday destination.

• Qld’s most popular destinations;

• Brisbane + 28% 2011/10• Gold Coast + 10% • Tropical NQ + 37%

Source - 2011, Tourism Research Australia, International Visitor Survey, YE June 2011

Key InsightsChinese Visitor Numbers

Chinese spend increased from $100M in 2006 to $381M June 2011.

In the same period, Queensland’s share of total Chinese spend in Australia grew from 10% to 14%

Exp

en

dit

ure

($M

,cu

rren

tp

rice

s)

Mar-

06

Mar-

07

Mar-

08

Mar-

09

Mar-

10

Dec-

06

Dec-

07

Dec-

08

Dec-

09

Dec-

10

Mar-

11

Jun

-06

Jun

-07

Jun

-08

Jun

-09

Jun

-10

Sep

-06

Sep

-07

Sep

-08

Sep

-09

Sep

-10

Jun

-11

QLD

'sM

ark

et

Sh

are

99110 115109

122131

150166

200204203213

239252

269287

326333 336338

388381

$50

$0

$300

$250

$200

$150

$100

$350

$400

$450

Year Ended

2%

0%

10%

8%

6%

4%

12%

14%

16%

Expenditure (LHS) QLD Market Share (RHS)

Source: Tourism Research Australia – International Visitor Survey

Agenda

1. China – Australia’s success story
























Chinese tourist spend in Queensland could more than double within five years…..an ambitious target but with many challenges

VisitorsAveragelengthofstay

Spend pernight

TotalSpend($M)

Current (YEJ2011)

198,000 17.8 $108 $381

2016-Low Potential

378,500 12.6 $154 $732

2016-High Potential

429,000 12.6 $154 $829

Dec-06

Dec-07

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Dec-16

Jun-06

Jun-07

Jun-08

Jun-09

Jun-10

Jun-11

Jun-12

Jun-13

Jun-14

Jun-15

Jun-16

YE Jun 2011$381

Potential High,$829

Potential Low,$732

$900

Expenditure Potential Low Potential High

Year Ended

$500

$400

$300

$200

$100

$0

$600

$700

$800

Would require over a 100% increase in visitor numbers and significantly higher daily spend

Source - 2011, Tourism Research Australia, Satellite Accounts and Vision 2020 Modelling

Other states, particularly Victoria and NSW have seen the Chinese opportunity and are determined not to miss out

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Ch

inese V

isit

ors

New South Wales Victoria Queensland Other States

Chinese Visitors By State 2002 - 2012

To meet 2016 goals, per visitor spend must grow significantly

Source - 2011, Tourism Research Australia, Satellite Accounts

Research must identify the rivers of this performance. Possible factors are many and might include a reliance on the low yield package tour segments, a low share of the high value/spend “Affluent”

Nonetheless the issue needs to be addressed if Qld 2016 is to be achieved

Spend per Chinese visitor in Qld is lowest in the country

Expenditure per Visitor

Chinese

Spend per

Visitor

Int Visitor

Spend per

Visitor

% Chinese

Expenditure

Differential

SA $6,197 $2,023 206.3%

WA $6,763 $2,808 140.8%

ACT $4,280 $1,836 133.1%

Tas $3,672 $1,966 86.8%

NSW $3,939 $2,188 80.0%

Vic $3,308 $2,378 39.1%

Qld $1,796 $1,840 -2.4%

Total Australia $5,586 $3,236 72.6%

Resulting in Qld having a relatively low proportion of

Chinese spend versus other states

Total Expenditure

Chinese Visitors

Expenditure $M

Total Int Visitors

Expenditure $M

% Chinese

Expenditure

ACT $59 $284 20.8%

NSW $1,109 $6,279 17.7%

Vic $685 $3,941 17.4%

SA $106 $734 14.4%

Qld $381 $3,780 10.1%

Tas $26 $279 9.3%

WA $81 $1,938 4.2%

NT n/a $371 n/a

Australia $2,410 $17,607 13.7%

























China remains the most promising tourism market in the world

INDIA GLOBAL2012 How consumers plan to

utilise spare cash

New Clothes

Holidays/ Vacation

Home Improvement

Consumer electronics

Out of homeentertainment

No spare cash

38%

34%

33%

32%

22%

7%

32%

32%

19%

22%

29%

16%

CHINA

52%

55%

37%

51%

19%

3%

Holidays/vacations tops thelist in

China: globally the

highest mention

2011, Nielsen, Understanding Growth Markets: China & India - Nielsen Outbound Travel Monitor, Sample Size N = 5,736

Eastern, Northern and Southern China continue to offer the greatest outbound potential

Taiwan

Tianjin

Henan

Hainan

Shandong

LiaoningHebei

Shanxi

Anhui

Jiangsu

ZhejiangHubei

Shaanxi

Ningxia

Gansu

Inner MongoliaXinjiang

Tibet

Qinghai

Sichuan

GuizhouHunan Jiangxi

Fujian

GuangdongGuangxiYunnan

Heilongjiang

Jilin

Chongqing

BEIJING

Tianjin

Note: number of TAs represents the number of travel agency business entities, each with 1-50+ outletsAll GDP regional figures used are PPPSources – World Bank 2011, The Yearbook of China Tourism Statistics, 2011

Key Insights

The 3 mega cities and their

surrounding catchment regions; rank

top three by outbound tourist

numbers and number of travel

agencies

Shanghai & Yangtze River Delta

region

Beijing & Central North & North

East

Guangzhou & Pearl River Delta

region

33,700 travel agency firms nation-

wide, with over 110,000 retail outlets

Subtotal of North, Eastern and

Southern China:

•75% of all Travel Agencies

•82% of outbound bookings

North West

GDP PPP per capita:

US $6,622

# of Travel Agencies: 1,955

North East

GDP PPP per capita:

US$8,458

# of Travel Agencies 3,408

Central North

GDP PPP per capita: US$16,441

# of Travel Agencies:8,026

Central East

GDP PPP per capita:

US$17,354


Central South

GDP PPP per capita:

US$12,986


South west

GDP PPP per capita:

US$7,500


Shanghai

Where to Focus: The Key regional markets1. Yangtze River Delta

• 155 million residents

• 2011 per capita (GDP) $US17,354

• Largest city - Shanghai 22 million people

• 16 cities with populations over 4 million in Shanghai municipality, Zhejiang and Jiangsu provinces.

• Region accounts for 24% of China’s GDP

The Yangtze River Delta

Key regional markets2. Pearl River Delta

• Regional population 214 million

• 2011 regional GDP per capita $US13,000

• Key cities

• Shenzhen 10 million

• Guangzhou 11 million

• Dongguan 8 million

• Hong Kong 7 million

• China’s manufacturing hub

The Pearl River Delta

Key regional markets3. Central North and North East

•Regional population 310 million

• GDP per capita $19,400 in Beijing –ranging from $6,000 - $15,000 in other regional centres

• Key cities • Beijing 10 million• Tianjin 12 million• Shantou 12 million• Shenyang 7 million• Harbin 6 million• Qingdao 5 million

Central North and North East

Future Opportunities Are To The West in Tier 2-4 CitiesEarly market entrants will gain “first mover” advantage, the chance to capture dominant market share and potentially reach an additional 2=310 million middle class consumers

























Leisure Travellers are increasingly going beyond Hong Kong & Macau

Hong Kong

Macau

France

Taiwan

Australia

Japan

Singapore

USA

Thailand

Germany

Top Destinations Leisure - 2011

(51)

(28)

(7)

(5)

(6)

(6)

(8)

(4)

(6)

(4)

NOTE:

Figures in (xx) indicate corresponding % from 2009 Nielsen round


Package Tours still dominate but declined from 80% of the market in 2004 to 41% in 2011

• 41% of overseas trips are group travel

– With difficulty in language barriers, most prefer to travel in groups

– Group Tours more common for short haul Asian destinations -Thailand, Malaysia, Taiwan, Korea

• Macro trends and government policies are driving the rise in FIT leisure travel

– From Feb. 2005, Chinese citizens could apply for a private passport with their ID card or Hukou

– Visa applications are relaxing -individual visas to HK，Macao，Australia，New Zealand , US and most of Southeast Asia countries are approved for Chinese citizens

– Travelers, especially younger ones, prefer to gain experience in overseas travel on their own

– Self organized “fully independent travel” FIT is rapidly growing segment in Australia

Source – The Yearbook of China Tourism Statistics, 2011

Sightseeing, shopping and relaxation are key drivers, VFR is not yet a prominent segment

Travel Motives (Leisure Segment)


As a new generation of Chinese travellers emerge the key travel motivation is shifting from sightseeing to relaxation

• Inexperienced travelers tend to pack theirschedules with sightseeing activities in order to get the most value (as they perceive it) fortheir money.

• Experienced travelers are more willing tospend time and money on activities such asentertainment, shopping and increasingly experiences—an inclination that alsoinfluences their choice of destinations.

Source – Tourism Australia Visitor Departure Surveys, The Yearbook of China Tourism Statistics, 2011

200

0

800

600

400

Millions of trips1,000

2020

Relaxation

882

473

409

2010

Sightseeing

274

164

110

CAGR

2010 –2020(%)

10

16

By 2020,Travel for Relaxation Will BecomeMore Popular Than Sightseeing

Primary reason for leisure travel

Sources: National Bureau of Statistics of China;, Navigate Analysis

CHINA

GLOBAL (Australia, NZ, US, UK, France,

Canada, Japan, Germany, Spain, ItalyHolidays/ Vacations

an avenue to cope

China highest mentions on work/life balance among all countries in Nielsen sample. Average hours worked per annum in China are 2350 (over a 6 day week; in not all but many SOEs) versus;

• Australia 2156 hrs per annum• US 1950• Greece 1305 Source- 2011, OECD-The World At Work

Add to this the competition fostered by the one child policy, where the weight of expectations of all family members (“the circle of six” – mum, dad and both sets of grandparents) fall on one set of shoulders. Young Chinese are face a “high stress”and “extreme” achievement based culture.

With rising affluence comes a desire for a better quality of life. Hence Chinese less likely to cut down holidays/ vacations to save on expenses than other nationalities

The increasingly hectic and competitive pace of life in China is driving this shift in motivation

Biggest concern over the next 6 months

Source – July 2011, Nielsen Global Travel Motivations and Intentions Monitor

• Work/Life Balance

• Health

• Increasing cost of living

• Increasing cost of living

• Economy

• Work/Life Balance

Multiple outbound segments are evolving, with experienced, affluent travelers increasingly important

Inexperiencedtravelers

• Travel is for sightseeing—the more the better

• Travelingaround the worldis a lifetime dream

• 56%• 33%

• Packed schedulesof must-see sites

• Historical sites and museums

• Travel agencies for packagedtours and booking assistance

• Word of mouth, TV, and websites

Experiencedmass-

market travelers

• Travel is to explore citiesoutside nearby regions

• Outbound travel is an indicationof status andspecial occasions

• Sightseeingand relaxingentertainment

• Fewer packagedtours andmore independentlyplannedtrips

• Online search and booking

Experiencedaffluent travelers

• Travel is good for relaxationand stress relief

• Prefer to return to placesthat o?er relaxing activitiesand a slower pace of life

• Entertainment, shopping,and luxury accommodationsrather than overscheduledsightseeing

• Websitesare the main

• channel for travel planning

• Premium theme-based tourpackages for outbound trips

Attitudes andaspirations

Trip activities

Trip planning

Share of total travel spending1

• 23%• 26%

• 21%• 41%

20102020

Sources:NielsenConsumerTravelSurvey, July2010;Note: Inexperiencedtravelersas thosewith fewer than three yearsof travel experiencewho have taken fewer than three trips in the past 12months.Experiencedmass-marketand affluenttravelershave made more than three trips in the past 12 months. 1




















– Forming partnerships with Chinese wholesalers-identifying key players, importance of ‘reciprocity” & “Guanxi”





Securing new Airlines and routes – the bedrock that determines all other outcomes

1. Supporting new routes and existing airlines to grow profitable capacity

A. State government has a critical role to play;

i. From market audits and feasibility studies all the way through to the launch of new routes/airlines (e.g. specific tasks include forecasting traffic requirements; short, medium and long term, prospect identification, negotiations leadership, MOU development, cost-benefit analysis of identified prospects/proposals)

ii. Current key China-Qld routes are;

• Via Guangzhou, Beijing and Shanghai with China Southern into Brisbane

• Via Hong Kong with both Cathay Pacific and Qantas into Brisbane

• Via Hong Kong with Cathay Pacific into Cairns

Securing new Airlines and routes – the bedrock that determines all other outcomes

1. Supporting new routes and existing airlines to grow profitable capacity (Continued)

A. Serious efforts need to be made to secure charter flights in the three Chinese peaks seasons.

I. Current scheduled routes/flights cannot meet the peak demand of Chinese New Year (CNY) in February , July and November. Significant visitor numbers are being lost.

II. Charters need to be ramped up to meet peak demand periods

III. Charters also allow airlines to “test market” a destination with little risk

IV. Achieving the above requires close negotiations with wholesalers; the “Big Five” the largest and most important of which are listed below

• China International Travel Services (CITS), • China Travel Service (CTS), • China CYTS Tours, • C-Trip Shanghai and;• Shanghai Jianjiang.

• Together these wholesalers book and sell package tours and ancillary services to 139,000 of the 543,000 (or 25%) total Chinese visitors to Australian in 2011.1

• A Failure to recognise the sheer size and also the political influence of the “Big Five” is the most common denominator underpinning failure of those Western travel firms that eventually withdraw from the Chinese market.

Source: Navigate China Tourism, Travel and Hospitality Project Experience

The current travel industry in China is characterized by fragmentation, Intense competition and the rapid growth of online channels

• The travel agency market remains fragmented – but consolidation rapidly increased in the years 2006-2011

• Three operators CTS, CITS and CYTS control 50% of the market and for Tourism Authorities like TQ it is critical to engage, negotiate and collaborate with the Big Three to have any chance of securing significant exposure and promotional support.

• E-travel players are well established and dominated by 2 players - Ctrip and eLong.

• Agency commission is 10-20% of the retail price, depending on the product and the distribution level (1st or 2nd tier)

• Discount, performance-based commission and year-end bonus are common practice among agencies and travel product/service providers

• Most products are sold through traditional travel agencies

• Intense competition (32,000 agency firms nation-wide) leads to discounting wars and heavy promotional activities

Structure

Economics

CTS, CITS and CYTS are the leading players

CTS CITS CYTS

Established in 1949, CTS is the first

travel agency in China, and was

under the control of Overseas

Chinese Affairs Office, a

government body

Now CTS Head Office in Beijing is

the original one carrying the legacy

of the first agency established in

1949

There are ~7,200 other travel

agencies under CTS brand name

via loose franchise across the

country

In 1954, CITS was set up as a

department under the State

Council to handle international

liaison affairs

Now CITS Head Office in Beijing is

the largest member within CITS

family with more than 20 branches

and subsidiaries

There are another 4550+ travel

agencies under CITS brand name

via loose franchise across the

country

Largest and first-licensed

international travel agency with

branches and member agencies in

522 domestic cities and 49

overseas locations

Striving to become the largest

integrated tour operator in China

CYTS family was set up by

local youth league separately

back in 1970’s

CYTS public listed on

Shanghai Stock Exchange in

1997

More than 5000 travel

agencies under CYTS brand

name nationwide form the

loosest family structure among

the top 3

Source: Company websites,

The most successful online companies have been Ctripand eLong

Key Findings

Ctrip is by far the largest online

travel service provider in China

– Public-listed on NASDAQ

(CTRP) since December 2003

– 2010 revenue: US $ 740.3M

(42.8% growth compared to

2009)

eLong ranks second

– Public-listed on NASDAQ

(LONG) since October 2004

– 2010 revenue US$616.7

million (86% growth compared

to 2008)

60.9%

35.7%

8.7%

8.1%

7.0%

5.6%

3.2%

0% 10% 20% 30% 40% 50% 60% 70%

Ctrip

eLong

piao.com

piao.com.cn

Sina.com

163travel.com

TomTravel

Note: Traffic indicator (%) represents percentage of survey respondents who has experience booking on particular website, N=832

Source: iResearch,

Traffic of Online Lodging or Ticketing Websites

Traffic

indicator

High performing players are more locally focused...

• Local online players

– Market leaders such as Ctrip and eLong are exclusively focused on the Chinese market only

– They have very much developed their offerings and infrastructure to suit the local market, e.g.

• Large call center to handle many offline inquiries

• Physical delivery of air tickets in major cities

• Regional or International Online players

– very small presence and rely mostly on online channel

– Tends to serve foreign customers traveling to China only

• International hybrids

– Zuji is a consortium of Asian airlines – rapid SOM expansion 2005-2009

• Difficult to get multiple partners to work together

• Limited Chinese market product offering so far

– Priceline – subsidiary of Hutchison

• Not huge volume since suppliers have not tuned their inventory management to a level where such a specialized player is needed

Building presence in the trade – Golden rules

• Execute cooperative campaigns with strong consumer direct element.

• Lobby and promote Qld presence in Chinese group itineraries

• Group travel focus, but retain some budget for fast growing FIT segment

• Agent education by training, road-shows and travel exchange.

• Familiarisation trips for key agents including ATE & PAS famil.

• Feature key regions of Brisbane, Gold Coast (and Sunshine Coast), Far-North

Qld


























Chinese investment in Australia

Year Chinese investmentChinese investment including Hong Kong

2006 A$3.5 billion (A$42.4 billion)





Source – 2011, The Australian Trade Commission

Existing Projects:

• Fullshare:

• Laguna Whitsundays Airport , QLD

• Laguna Whitsundays Golf Course, QLD

• Laguna Village, QLD

• Laguna Whitsundays 5-star hotel, QLD

• Xian Hongfeng: Eco tourism resort, SA

• China Coke(Rockland): Leonda function center , WA

• China Southern: Flight training center, WA

• Lushida Enterprise Group: New China Town, VIC

Potential investors:

• Hainan Airlines : Hotels, airport ,etc.

• Shanghai Airlines : Direct CH-Aus routes

• Huaqiang: Theme parks

Existing and near future tourism investment projects

• Different business cultures and integration issues (Guanxi critcal – deal maker/breaker)

• (Still) limited Chinese understanding of market economy dynamics

• Lack of “Australian” standard due diligence

• Lack of experience in investing in developed economies

• Inadequate understanding of legal / other risks

• Chinese Government’s lengthy approval process

• Lack of international management talent

China needs considerable foreign advice – but “Mianmu” 面目, the Chinese concept of “face” makes

it culturally difficult to accept that they need it

China’s main concerns: Australia’s high cost base, government approval process, labour & strong A$

In seeking Chinese FDI, Throw out much of what you’ve learnt in Australia


What can be done?Leveraging Austrade’s expertise and resources

• Collaborate on opportunities, research, targets and partnership with Austrade

• Develop marketing collateral for Austrade Business capability document

• Videos/PowerPoint decks for local agency and wholesaler clusters

• Develop an investment facilitation network

• With Austrade, develop an investment conferences programme

• Consider new investment marketing support

• Quick wins - look at product bundling opportunities

Austrade has 13 Full Service Offices In China


Thank you

Feel free to contact me at:

[email protected]

Mobile: (+61) 0402 493 278

mailto:[email protected]

2013- multiplying the contribution of chinese tourism to qld

Travel

inbound chinese tourism

chinese wholesalers

chinese fdi

chinese tourists

increased number of

chinese action tq

chinese travellers european

outbound travel