Tag Archives: Tourism

Yantian Port plans ‘Ice and Snow’ project

Shenzhen’s eastern port of Yantian is undergoing a major upgrade in the coming few years that will see a new industrial district spring up around it. It will include logistics and industrial parks showcasing innovative ideas, with some combining trade and tourism.

Much like the old shipping neighborhoods in western cities that turned themselves into food and tourism attractions, such as Chelsea Market in New York, the new development plan for Yantian envisages building facilities that can be both practical for industrial use and attract visitors who will splash out for an authentic experience.

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New railway connects Meizhou to GBA

The Greater Bay Area is not just a collection of nine cities and two Special Administrative Regions. It is also a springboard to a much larger hinterland in Guangdong province, and beyond.

This hinterland is shrinking – in distance – as new high-speed railways open. The latest example is the opening of the Meizhou-Shantou High-speed Railway, which is being described is the “wing insertion” necessary for the take-off of the eastern side of Guangdong.

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Panyu sees boom in visitors

This past National Day Golden Week reaffirmed Guangzhou’s Panyu district as the province’s premier tourist zone. From October 1-7, the district, home to the Chimelong Group’s trio of world-class theme parks, received 3.502 million visitors, up 12.2% YoY. They generated tourism revenue of RMB 1.768 billion. up 13.8% YoY.

Just prior to the start of the holidays, Panyu got a welcome boost from the Ministry of Culture and Tourism, which released a list of 71 National Tourism Demonstration Zones. Panyu was one of only two in the province on the list.

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Macau revenues don’t match visitor growth

As we reported yesterday, Macau had a great Golden Week, with 13% more visitors coming in than last year. However, revenues at the casinos, which are still heavily weighted toward VIPs, were down, according to analysts quoted by GGRAsia.

Citing “channel checks” – a widely adopted euphemism for unofficial data culled from unnamed sources – these analysts speculated that gross gaming revenues for the week were down as much as 12% YoY.

However, there was a bright spot, these analysts reckon: the weighting toward low-margin VIP play is being reduced, as mass-market revenues grew strongly, by between 8% and 10%. In other words, more headcounts means more gamblers who don’t have the clout (or the sense) to ask for rebates and commissions, thereby ensuring the casinos healthier margins.

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HK stares at tourism abyss as funds keep flowing

Hong Kong remains China’s key gateway for foreign investment despite the protests, according to the latest data from Beijing. As SCMP reports, China received US$62.9 billion in foreign direct investment via Hong Kong in the first eight months of this year, accounting for 70 per cent of total inflows. The rise was even sharper once the monthly number for August was calculated: US$7.53 billion, up 29.2% from the same month last year.

It’s hard to blame or credit these flows on anything Hong Kong is doing, as Investment decisions into China are often months, if not years, in the planning. Still, the numbers might bring some comfort at a time when the tourism pillar of the economy is crumbling. 

According to this SCMP report, Causeway Bay is struggling, with one in ten shops standing empty and thousands of staff facing job losses. We think a very painful withdrawal experience lies ahead as the city is forced off the drug that it has been hooked on since 2003. Mainland tourists have other options, including Macau, and once mainland tariffs on imported goods start being completely repealed, they will likely have little reason to come back – even if the protests somehow start to subside.

Across the city, the hotel industry is reeling. But landlords appear to be doing what they do best: forcing management companies to let go of staff while they figure out the best way to reconvert the buildings into office space. And they are in the meantime looking to move their real-estate projects as fast as possible before prices start to fall off a cliff as the government strong-arms them into offering below-market discounts.

Hong Kong needs a big, new vision for its future.

Exploring Guangzhou – Top 10 Spots

The provincial capital of Guangzhou is a megalopolis that combines old and new in fascinating ways. No matter if you are a history buff, or simply looking for place to spend a leisurely weekend, there are many fun and interesting options available. Here is a list of our top 10 must-go places. Please note that this is a big city, so planning your trip to each of these spots requires attention to transport details. Klook.com is our favorite, and they have affordable chauffeured tour options. You can do day-trips, now that high-speed train links make it easier, but we wouldn’t suggest it: better to take your time with hotel bookings and stay at least one night – or more.

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