Despite turbulence in the global economy, 2011 was a triumphant year for the region, with markets setting new records. In this update: tourism trends, hotel market performance and the China Outbound Market. Much has been said about the China outbound tourism market and its potential economic impact in the past year. A large number of countries and companies have started tailoring their product and service offerings to the preferences of Chinese visitors. However, strict visa policies remain the key obstacle to attracting larger numbers of Chinese visitors. While some countries have waived visas altogether, significant progress in catering to Chinese visitors can be made by simplifying the visa application process. It is evident that Chinese outbound demand is real and growing. It is in the hands of respective governments to facilitate the visa process, should they decide to welcome and take a hare of this lucrative market.

About HVS

HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.

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