Riding the Chinese Tourism Wave
'Australian Tourism/Hospitality Holdings set to Benefit from a Surge in Chinese Tourists' The number of Chinese tourists visiting Australia has grown by a 13% compounded growth rate between 2002 and 2012. China is now the second largest inbound visitor market behind New Zealand by numbers having recently overtaken the U.K in late December 2012. Although outbound tourism in China has shown strong growth in recent years, historically Asian countries such as Korea, Japan and Taiwan only experienced a tourism boom when GDP per capita exceeded US$8,000 - $9,000. The World Bank shows Chinese GDP per capita as at 2012 to be US $6,091. Within the next couple of years we expect GDP per capita to exceed US$8,000. Domestic tourism operators are ideally positioned and will have significant leverage in the next 3-5 years. In this short note we identify some ASX listed companies have exposure to this thematic. Read More: (VIEW LINK)
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