Potential of the Chinese Market

Potential of Chinese Market

Chinese in China

Large Population and Rising Economy

The latest censuses reports show the country to have over 1.4 billion citizens that is more than 20 times the size of Thailand.

Rapidly Growing Middle class

Accounting for 58% in 2018 and is estimated to grow by an additional 31% by 2022 making for the average household earnings at $9,000 – $34,000 annually according to McKinsey & Company’s journal
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Completely Different Social Media Platforms

In China they use different platforms and app’s, but many of these platforms function similarly to what the rest of the world is accustom to. Keeping in mind that more than 75% of all transactions in China are done via a payment app VS 25% average in other parts of the world.

Chinese Travelling to Thailand

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Of total tourist

The Largest Group of Holidaymakers

Spending annually over 520 billion THB more than double  of any other nation according to the Association of  Thai Travel Agents (ATTA).

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Average spend per day

Spend More

They spend 53% more than the average European and it is expected to increase due to these factors: 

– Higher Income
– More Overseas Experience
– Accessibility to Online Travel Information

Years
Of age with disposable income

Increasing Number of FITs

Free Independent travelers are growing by double digits  each year similarly to the Chinese economy due to being more adventurous, and technology liberated.

Chinese Living in Thailand

Second-largest Foreign Community

Recent research from CBRE Thailand shows the expat  population has doubled  over the past five years, making it the second-largest foreign community after the Japanese. 

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Recommend Friends or Relatives in Mainland China

A positive experience will result in return business and personal referrals offline & online resulting in more exposure for your business locally and in China.

 

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Large Population Means Big Opportunity

An increasing number of Chinese are relocating to Thailand for work or regular business trips for short and long term. This makes for a good opportunity for business to establish a long term relationship with the potential customer.
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