The Greater China, Hong Kong & Macau Update - 1Q 2012

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.

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