The Insight Files
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Consumer trends and news curated by Tourism Australia
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These lower-tier Chinese cities will have 2 million or more 'high-income' residents by 2030

These lower-tier Chinese cities will have 2 million or more 'high-income' residents by 2030 | The Insight Files | Scoop.it

A new Economist report predicting income growth in China through 2030 finds that the number of cities boasting large numbers of high earners is set to skyrocket. According to the 'Chinese Consumer in 2013' report, 35% of China's population is predicted to be upper-middle class or above by 2030. This will amount to about 480 million people, marking a massive increase from the current estimate of 132 million upper-middle class people in China (10% of the population). Growing incomes will lead to diversified spending and a demand to upgrade to more premium brands and expensive options. Find out more.

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How destination marketing drives economic growth

How destination marketing drives economic growth | The Insight Files | Scoop.it

Destinations that market themselves experience significantly greater employment and economic growth beyond the visitor economy, according to new research by the Destination & Travel Foundation, conducted by Oxford Economics. Through a statistical analysis of over 200 cities over more than 20 years including case studies, interviews and a literature review, the key findings reveal the broad economic benefits reaped by US destinations which spent an estimated $2 billion on promotion and marketing to encourage leisure and convention travel. Click here to view the study's findings.


Via Zac Woolfitt
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Here comes the modern Chinese consumer

Here comes the modern Chinese consumer | The Insight Files | Scoop.it

Despite concerns about economic growth, China's consumers keep spending. Yet McKinsey & Company's latest survey reveals changes in what they’re buying and how they’re buying it. Reflecting 10,000 in-person interviews with people aged 18-54 across 44 cities, McKinsey's report, The Modernisation of the Chinese Consumer, found that the days of broad-based market growth are coming to an end. Consumers are becoming more selective about how they spend their money, shifting from products to services and from mass to premium segments. They are seeking a more balanced life where health, family and experiences take priority. The popularity of international travel is astounding among Chinese consumers, as is their adoption of trends such as mobile payments. And despite many similarities, consumer behaviour can vary significantly among the country's 22 city clusters.

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Panos Fotiadis's curator insight, July 5, 2016 7:00 AM
The Chinese market seems to mature...