Chinese Tourism in EU: Humanitarian and Investment Aspects of Development

 
PIIS032150750005568-6-1
DOI10.31857/S032150750005568-6
Publication type Article
Status Published
Authors
Occupation: Junior researcher, Institute of World Economy and International Relations
Affiliation: Institute of World Economy and International Relations
Address: Russian Federation, Moscow
Journal nameAsia and Africa Today
EditionIssue 7
Pages48-53
Abstract

The aim of the article is to consider the EU countries as the direction of Chinese tourism and investments of Chinese companies in the tourism sector. The first part studies the current stage of development of Chinese tourism in EU countries. The analysis reveals the complexity of accurate assessment of tourism flows from China to the European Union. Much attention is given to the outstanding characteristics of Chinese outbound tourism, including passion for shopping and broad using of mobile payment platforms. The author points out several problems that can be connected with Chinese tourism, such as overtourism and «uncivilized behavior».

The second part concentrates on Chinese investments in the tourism sector of the EU countries. It is spoken in detail about M&A deals related to airports, airlines, travel companies, hotels and large entertainment centers. At the same time different investment strategies used by Chinese investors are underlined. Further the author describes several examples of bilateral cooperation in serving Chinese tourists. Successful results are more common for companies invested in the field of their expertise or for those used partnership with local partner instead of aggressive investments.

Since introduction of tighter capital control policies in China in 2017, a number of Chinese companies famous for their highprofile transactions in tourism sector began coming under pressure. In some cases such companies were forced to sell its overseas assets including tourism infrastructure in EU countries. The author believes that extensive penetration of EU tourism market by Chinese companies during last decade thereafter will be significantly limited.

KeywordsChina, EU, Chinese investments, Chinese tourism
Received03.08.2019
Publication date07.08.2019
Number of characters22175
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