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China - Competitive Market
Transcript of China - Competitive Market
- China is one of the largest economies by nominal GDP in the world, approximately 120 trillion RMB
- Earning from domestic travel:
1.84billion (1978) -> 528 billion (2005)
- International tourists: 56 million (2010)
- More than 13,378 hotels (2007)
- Beijing’s hotel revenue growing at 20-25 a year
the # of luxury hotels increasing with average 40% annually
China has become one of the most important markets in hospitality industry in the world. SWOT Analysis Good business environment. China is ongoing to attract foreign investment, thus the government make a series of preferential policies.(e.g. Free business income tax in first and second year.)
Rich labor source means relative low labor cost which attract foreign investment, and the foreign investment bring the job opportunities and advance management and technology.
Huge demand and market worth to development. China North America Nevada Analysis of China Las Vegas Strength SWOT Analysis Population: restricting economic development.
(Lack of job opportunities and lower individual income, Rich total resources, but limited per resource, Aging population.)
Political situation: The Diaoyu Island problem exist a long time between China and Japan, but the update is suddenly, there is no doubt will effect the Japanese company. (E.g. The sales of Japanese car decrease.)
Economy Structure: Depends on the light industry.(e.g. textile industry, manufacture) Weakness SWOT Analysis Consuming capacity boom in China
February 2013: 38 trillion RMB ($ 6 trillion) Oppurtunities Threats Political tension between mainland China and Taiwan
The nuclear weapons threat from North Korea
Aging of population in next 10 years. Las Vegas Sands in Macau Chairman, Sheldon Adelson
Keep the mid-week occupancy high. (Convention & trade show)
The first North American Company who built casino resort in Macau (2004).
- Recognition of Asian Market, potential customers: 4 billion, 4 hours flight
- Created manmade Island in Macau, Cotai Strip, fill the bay between the Coloane and Taipa islands, built The Venetian Macau and Sands Cotai Centralon this island.
- The Venetian Macau receives around at least 70,000 visitors per day, and the 550,000-square- foot casino is also the largest in the world. Las Vegas Sands Corp. (LVSC) Las Vegas Sands in Macau Sands Macao, 2004 The Venetian Macao Resort-Hotel, 2007 Sands Cotai Central, 2012 References Carrie, Ann. (2011). China’s Hospitality Industry Soaring to New Heights. [Webpage]. Retrieved from http://www.industryleadersmagazine.com/chinas-hospitality-industry-soaring-to-new-heights/
Emmanuel, Hemmerle. (2010). leadership in china’s hospitality industry begins at the head office. HEIDRICK & STRUGGLES. Retrieved from http://www.heidrick.com/PublicationsReports/PublicationsReports/HS_LeadershipChinaHospitality.pdf
Gady, Epstein and Robyn, Meredith. (2010). U.S. Companies That Invest Big In China. [Webpage]. Retrieved from http://www.forbes.com/2010/07/05/us-investments-china-markets-emerging-markets-fdi.html
China Tourism Report Q2 2012. (2012). SWOT Analysis. Retrieved from http://web.ebscohost.com.proxy.library.niagarac.on.ca:8080/ehost/pdfviewer/pdfviewer?sid=2fbf16f6-c8e8-495e-9b21-93f462ee9253%40sessionmgr115&vid=2&hid=123
Toyota numbers of products decline a half. (2012). [Webpage]. Retrieved fromhttp://wenku.baidu.com/view/879cb7fe0242a8956bece4bc.html
Consuming capacity in China. (2013). [Webpage]. Retrieved fromhttp://data.eastmoney.com/cjsj/consumergoodsretailindex.aspx?p=1
Overview basic Chinese characteristics of Chinese culture. (2013). [Webpage]. Retrieved from http://www.thomehfang.com/suncrates3/1wu.html
Overview culture characteristics of Chinese people. (2013). [Webpage]. Retrieved from http://www.ehow.com/list_6889928_culture-characteristics-chinese-people.html
Overview Chinese people. (2013). [Webpage]. Retrieved from http://www.travelchinaguide.com/faq/
Overview types of jobs in China. (2013). [Webpage]. Retrieved from http://factsanddetails.com/china.php?itemid=366&catid= Contributors Jingyun Wang (Chloe)
Yue Zou (Nancy)
Tao Yu (Audrey)
Juan Li (Joanna)
Yue Li Billion (RMB) Hospitality industry status in China - Marriott announces 100th Hotel in China
- DoubleTree by Hilton Opens 7th Hotel in China
- Starwood Hotels & Resorts Leading the Way with New Hotels in China Culture of China Traditional Chinese culture has rooted for thousands of years deep, and owns diversified 56 indigenous ethnic groups.
Agriculture as Economic Foundation: a basic mode of production,priority to fixed and relexingly permanent life
Family Relations and mutual dependence:most fundamental social unit is family unit
Moderation and Harmony: respect peace and aviod war and disputes Living type in China Family Planning: One of China's basic state policies enacted in 1978, to control the rapid growth in population.
Higher Standard living: life expectations and standards are incresing with the development of economy, education and policies.
Pay more attention to value added: study abroad, go for tourism, more entertainment
Polarization between rich and poor: large population and small portion of success Business Method & Working Type Basic facts: Many Chinese factories still rely on human labor rather than machines and technology.
Work Force: Low-paid workers, simple machine, shortage of high-skilled workers, wicked working environment and poor maintenance.
Trends: Increasing brand recognization, automated new technology, globally economic development Policies of government Reform and open policy: motivate the progress of importantion and exportation, and expand domestic production demand.
Macroscopic adjustment and control: market is foundation of economic development and controled by government.
Proactive fiscal and prudent monetary policy: prevent negative inflation and recession impact
Adjust economic structure and transform economical
improvement measures Improving economic freedom