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The Dragon has awoken : Investors and Operators from the Far East conquer the European and German Hotel Market

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The Dragon has awoken : Investors and Operators from the Far East conquer the European and German Hotel Market

For ages, the East has strived towards accommodating the needs of the West. But with Asian outbound tourism on the rise and more Asian, especially Chinese, travellers venturing abroad,
this is beginning to change.

In fact, China has become the world’s largest outbound tourism market. As the China National Tourism Administration reports, Chinese travellers made 107 million outbound trips in 2014, while China Confidential, a Financial Times research service, estimates that Chinese travellers spent $498 billion on outbound trips in 2014. This development is even more remarkable as experts agree that the Chinese outbound tourism trend is at a rather early stage since it only covers a relatively small group of the population: As China Confidential found out, only six per cent hold a passport.

Source : Christie & Co

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