The opening of the Shanghai Disney Resort in June 2016 was arguably the biggest event in the history of The Walt Disney Company since 1995. Philippe Gas, General Manager of the Resort, who has been working with Disney for 25 years, discusses the challenges of building the park and offers a detailed, inside look at the long process of developing the park with the Chinese government, the unique localization that Disney built into the resort and the overall mission to bring happiness to guests. So far the park has received positive reception from the public, but according to Gas, it’s just the beginning.
Over 120 million Chinese went abroad and spent over $104.5 billion in 2015 and more are projected for 2016. But for young Chinese people, their spending isn’t all about shopping in tax-free shops. As Leo Lin Song, chief of staff of TripAdvisor says, Chinese travelers are becoming more sophisticated: they’re reaching to further places and want to have more distinct cultural experience and not afraid to explore the unknown. Yet compared to western travelers, Chinese tourists are still special. They like to read pictures and need clear guidance—and that’s where TripAdvisor chips in.
According to the Hurun Global Rich List, with 568 billionaires, Greater China overtook the US (with 535 billionaires). Mainland China, Hong Kong, Taiwan and Macau minted 90 new billionaires over last year. Even as the ranks of billionaires swell in China, the damning reality is that wealth is concentrated amongst a handful of people. According to a survey conducted by a Peking University institute, 1% of families in China own 1/3rd of the wealth. That speaks of a serious imbalance in the society. In this edition of China Data, we bring you statistics on China’s wealth imbalance, Dalian Wanda’s investment in healthcare, Chinese tourists in Japan, and more.
Wang Jianlin’s sprawling business conglomerate, the Dalian Wanda Group, has its fingers in many pies: from real estate and retail to sports and entertainment.
Four-year-old online vacation rental site Tujia, which is valued at $1 billion, offers Airbnb-like services with unique twists suited to the specific needs, wants and quirks of Chinese travelers.
Leading Chinese online travel company Ctrip now faces the dual challenges of overseas expansion and stronger competitors
An increasing number of brands are finding it lucrative to woo the growing legions of Chinese tourists—both outside China and within.
This week, there was fresh debate over whether China will overtake the US to become the largest economy in the world this year, the RMB inched one step closer to true internationalization, and all eyes were on Hong Kong to gauge the impact of the Occupy Central protests on the economy.
A look at Chinese outbound tourism statistics: which countries feature big on the travel plans of Chinese tourists and how they are impacting the local economy there. The number of Chinese tourists criss-crossing the globe is swelling. As disposable incomes rise and the government eases restrictions on travel, more and more Chinese citizens are finding it […]
The Summer 2014 issue of CKGSB Knowledge is out! It has articles and interviews like: COVER STORY: The Business of Urbanization: The government is preparing to throw billions into urbanizing China, but has it thought through the hardware challenges? CHINA BY NUMBERS: From the most popular apps to Chinaʼs metal imports. The numbers that matter. SNAPSHOT: Outbound Tourism: Where are […]