China 21 percent tourism spend

Chinese Tourists

China's highly lucrative outbound tourism market has "great potential" for future growth, and this, in turn, has generated "tremendous business opportunities" for tourist destinations across the world, according to a new report carried out by the World Tourism Organisation, in conjunction with the Regional Program for Asia and the Pacific, in collaboration with the Program for Statistics, Trends and Policy.

The study, titled Penetrating the Chinese Outbound Tourism Market, demonstrates that China is now the world's largest source of outbound tourists. UNWTO's secretary-general Taleb Rifai explains this was in terms of both quantity of trips abroad and expenditure.

"China has become a key source market not only for many destinations in Asia and the Pacific but also for destinations in other regions of the world which see a steady influx and growing interest from Chinese tourists," he said.

China became the world's top spender in international tourism in 2012 and since then, it has led global outbound travel. Tourism expenditure from China has grown exponentially over the years. Most dramatically, it went from $24 billion in 2006 (3 percent of the world's total) to $261 billion in 2016, which is 21 percent of the world's international tourism spending.

According to the latest issue of the UNWTO World Tourism Barometer, international tourism has grown on a global scale. Over 1,235 million international tourist arrivals were recorded globally in 2016, some 47 million more than in 2015, or an increase of 3.9 percent.

With 615 million arrivals in 2016 - half of the world's total - Europe is the most visited region worldwide. Europe is followed by Asia and the Pacific, which recorded 309 million arrivals or 25 percent.

The Americas welcomed 200 million international tourists (16 percent of the global figure). Meanwhile, Africa represents 5 percent of international arrivals and the Middle East received 4 percent.

According to the report, what sparked this growth in outbound travel began at the turn of the 21st century was a combination of "increasingly loosened policies, diversifying consumer demands and profound changes in the market."

While the number of outbound tourists maintained double-digit percentage growth year on year from 2002 to 2013, the quantity of Chinese outbound tourists surpassed a record 100 million mark in 2014. Thanks to higher incomes, a massive population, rapid urbanisation and relaxation of restrictions on foreign travel, that year China overtook the USA as world's largest outbound travel market, both in terms of generated arrivals and total travel expenditure. Ever since, the country is the largest source of international tourism worldwide.

According to the report, it was China's millennial demographic the one that constitutes the majority of the country's outbound tourists. Millennials are also behind the development of the sophisticated Chinese free independent market, which is also known as FIT.

"The Chinese FIT market is extended to increasingly distant destinations. Tourists now are spread across South-East Asia, Africa, North and South America and even the Polar regions," the study suggested. The bulk (85 percent) of Chinese outbound travel is to major city destinations, which receive almost a half of all Chinese travel in the respective country. Large cities are the best equipped to suit Chinese tourists' form of travel, which is package trips, including group tours with multiple destination stops.

The report also gives detailed recommendations on strategic planning and marketing approaches when entering the Chinese outbound tourism market.

It outlines how many destinations have "successfully expanded business into the Chinese market by developing a Chinese market-focused strategic plan and taking tailored marketing approaches to adapt to the characteristics of the Chinese market."

US and Canadian companies are aware of the profitability of the young crowd and, thus, they are targeting students and providing tours of overseas schools during the months of July and August, when Chinese students take summer vacations.

Meanwhile, Japan has extended its multiple-entry visa for China's business, cultural and artistic visits from five to ten years and also simplified "the procedures of single-entry visas for undergraduate and postgraduate students studying in 75 colleges and universities directly under the Ministry of Education."

The study forecasts that outbound tourism will continue to grow and destinations will continue to compete to attract Chinese tourists.

Donald Trump quotes for business

Donald Trump

Yes he's President now and his policies are questionable and office does seem a bit chaotic BUT in this article we want to look back in time when we knen him only as a business man. The 71 year old business magnate Donald Trump is one of the world's most famous entrepreneurs. Though he inherited a vast fortune from his father Fred Trump, he has shown considerable investment skill in how he has built upon that empire. He's also one of America's most recognizable celebrities, with a brilliantly constructed personal brand. 

That makes him well worth listening to for any business person looking for ways to get ahead. Here are some of Donald Trump's most insightful quotes about how business should work.

In the end, you're measured not by how much you undertake but by what you finally accomplish.

I don't do it for the money. I've got enough, much more than I'll ever need. I do it to do it. Deals are my art form.

I've known people who had fantastic ideas, but who couldn't get the idea off the ground because they approached everything weakly. They thought that their ideas would somehow take off by themselves, or that just coming up with an idea was enough. Let me tell you something -- it's not enough. It will never be enough. You have to put the idea into action. If you don't have the motivation and the enthusiasm, your great idea will simply sit on top of your desk or inside your head and go nowhere.

How to get rich ... whenever I meet people, that's usually what they want to know from me. You ask a banker how he makes bread. You ask a billionaire how he makes money.

Sometimes your best investments are the ones you don't make

People who think achieving success is a linear A-to-Z process, a straight shot to the top, simply aren't in touch with reality. There are very few bona fide overnight success stories. It just doesn't work that way. Success appears to happen overnight because we all see stories in newspapers and on TV about previously unknown people who have suddenly become famous. But consider a sequoia tree that has been growing for several hundred years. Just because a television crew one day decides to do a story about that tree doesn't mean it didn't exist before.

I've seen people that are extremely brilliant and they don't have the staying power. They don't have that never give up quality. I've always said that other than bad ideas, which is a reason for failure, the ability to never ever quit or give up is something that is very, very important for success as an entrepreneur.

Get inspired: Great quotes from Ayn Rand

Ayn Rand

If you run a business or are planning to start one and need some inspiration, it is imperative you get in the right frame of mind for success. Ayn Rand was one of the world's foremost writers on the subject of capitalism and its crucial role in creating a healthy and happy society, not just for the richest number but for the populace as a whole. Here are some of her most inspiring quotes on the importance of ambition and the individual who strives for success.

A creative man is motivated by the desire to achieve, not by the desire to beat others.

Here we see that Rand's philosophy is not one of selfishness (as often her critics would characterise it) but one of determination. Do you have the desire in you to achieve? If you are in business, you better have. Don't concern yourself with the other guy – concentrate on what you can do.

Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.

Again Rand makes a key distinction between competitiveness and true self determination. Greed will only get you so far. It must be supported by deeper, more spiritual desire to make yourself the best you can be if it is to truly reap rewards.

Run for your life from any man who tells you that money is evil. That sentence is the leper's bell of an approaching looter.

Rand was steadfast in her belief that those who have no ambition to strive will, if allowed to, drag down those who do. The key message here is, never feel bad about making the money you work hard for and do not trust those who tell you that you should be ashamed of wealth.

Achievement of your happiness is the only moral purpose of your life, and that happiness, not pain or mindless self-indulgence, is the proof of your moral integrity, since it is the proof and the result of your loyalty to the achievement of your values.

Perhaps the purest expression of all of Rand's belief system, this quote warns the reader not to get distracted by instant gratification or feelings of guilt simply for being. Time on the earth is short – use it to satisfy your deepest desire for happiness.

Doing business: digital etiquette

business meeting

The rules of business etiquette have been around, seemingly, forever. Yet, in these days of remote everything, video calls, email attachments and archived data, the landscape has shifted dramatically. In order to deal with the change, here are some new tips on business etiquette.

Turn off the gadgets during meetings

Yes, your phone, laptop or tablet might be essential to the work you do on a day to day basis. Yes, you might be expecting an important phone call. Yes, you might feel a little lost when you are not connected to your email for five minutes. But that does not change the fact that, if you have a bright screen open on your desk, you are not fully concentrated on the task at hand.

At the beginning of every meeting simply turn all non-essential gadgets off or on silence and get them out of sight. It will help everybody focus, ensure nobody feels slighted and bolster the speed with which you get the work done.

It's not OK to be late for a virtual meeting

As the old saying goes, "If you're early for a meeting you're on time. If you're on time you're late. If you're late you're fired." For some reason, people seem to think this wisdom need not apply to video calls. Not so.

Just because you are not sitting in a room with somebody, does not mean you can arrive late to the sit down. We know you always blame it on ‘technical issues' but, we guarantee, they don't believe you and leave the meeting with a bad taste in their mouths.

Business emails, instant messages and texts are never, truly private

If the last few years have proven anything, it is that anything sent via email or text is not truly private. It is archived on somebody else's device and can then be passed on to any other number of people. Plus, if it's on a company email system, it can easily be read by the IT department. Plus there's the nightmare of sending an email to the wrong address.

With all this in mind, it is best to follow this code: if you wouldn't say it in front of the entire organisation, don't say it in an email.