Chinese investment in Australia

Chinese visitors to Australia surpassed 1 million for the first time last year and has more than doubled in the past five years.

Yep, Australia is red hot for Chinese tourism. Predicted strategical targets have been smashed and as reported in the Sydney Morning Herald,  “the value of Chinese tourism was initially estimated at between $7.4 billion and $9 billion a year by 2020, but annual spending has already exceeded this and more recent forecasts indicate it could be worth up to $13 billion by 2020.”

 

It’s not just tourism either …

Chinese investment in Australian real estate has surged by more than 400 per cent in just five years … property is now the number one Chinese investment in Australia. It’s even predicted Chinese investors will spend $44 billion over the next seven years — an average of $6.3 billion per year to 2020.

It’s pretty obvious that China is playing a huge role in the Australian economy and the majority of us are starting to take notice. Profound social, economic and cultural changes in China have created a consumer market that is unlike any other. As a result, Chinese consumers are becoming increasingly selective in respect to customer experience and cultural norms … to ensure they compete and take the best advantage of this lucrative market, individuals and organisations need to master the ability to act on these insights quickly and proactively. Therefore, if individuals and organisations want to be highly sought-after by Chinese consumers they need to understand and appreciate the nuances of Chinese culture.

Over the following weeks, we will be exploring different topics in regard to understanding Chinese language, culture, customs and etiquette, so please stay tuned for more information.

If you’re looking to effectively engage, conduct business with and better understand people of Chinese origin, we have partnered with China Ready and Accredited® to deliver online cultural awareness training endorsed by the Chinese government, international certification and membership into China Ready and Accredited®.

Watch the short orientation video below and discover our interactive, online ‘China Ready Specialist Program‘ or ‘China Ready Business Program‘.