Chinese consumers are currently outstripping all competition as the most valuable spenders on the planet and, as such, are markedly reshaping the world’s economy.
In 2017, Chinese travellers spent more than 250 billion US dollars, which accounted for 20 per cent of the world’s total tourism spend . There are a variety of contributing factors supporting this undeniable rise in Chinese tourism spending power, including the emergence of a newly wealthy Chinese middle class, an increase in the number of direct flights from China to new destinations, simplified visa policies and fewer travel restrictions imposed by Chinese authorities.
Statistics show that just over 8 per cent of China’s total population currently hold passports but research indicates that the number of passport-holding Chinese citizens will double by 2020 to approximately 240 million . The investment opportunities available to global brands are extraordinary, particularly because the Chinese traveller spending boom has really only just begun.
About Katalyst Communications
We are an all-channel marketing agency and consultancy that maintains a conversion-focused approach to everything we do. As we facilitate connections between global brands and travellers, we have extensive knowledge of all aspects of the customer journey and work closely with clients to collaboratively shape affordable and effective strategies that have the power to deliver sustainable success over the long term.
With access to the largest network of connected airports and hotels in Europe and North America, we use digital media and technology platforms to enable global brands to engage and connect with global audiences on the move.
We have WI-FI access in 86 international airports, including London, New York, Los Angeles and Rio de Janeiro. We have the capabilities to tailor our reach to enable you to connect solely with Chinese travellers in real-time via Wi-Fi signup, through travellers’ own devices using mobile language settings and via digital signage in hotels and airports. Our Wi-Fi partnerships allow us to access tens of thousands of hotel rooms across the globe and our in-hotel digital HD Full Motion screens are situated in the main lobbies of four and five-star hotels in London and a variety of other European capitals.
Our approach can also be used to connect with Chinese travellers in restaurants and shopping malls to promote special offers, rewards, VIP experiences and more using unique QR codes. This strategic technique facilitates seamless GDPR-compliant digital marketing consent and delivers both redemption data and ROI information to guarantee hyper-focused audience targeting that can be tailored to device, language and/or location specifications.
We have previously conducted brand awareness campaigns targeted towards high-net-worth Chinese travellers which have secured average CTRs of 2.3% and tens of thousands of unique engagements. Our display advertising performance statistics are proven to deliver an average CTR of between 3 per cent and 5 per cent where the industry standard is 0.6 per cent.
Currently, in addition to displaying a long-standing preference for spending with luxury foreign brands, Chinese travellers are also turning their attention towards niche sectors and personalised high-quality experiences that are not tailored to mass audiences . As the spending power of Chinese travellers continues to increase, new spending trends will doubtless emerge, providing a variety of new and exciting opportunities for global brands.