The United Kingdom is gearing up to host a groundbreaking conference focused on marketing to high-net-worth Chinese consumers, as the luxury and fashion spending by Chinese nationals in the UK continues to soar. The much-anticipated event is scheduled to take place on June 5 and 6 at the Conference Room at Regents Park in London and is being organized by Poland’s M2C.
With projections indicating a significant increase in Chinese tourist spending in the UK, Visit Britain is forecasting a 43% uptick in Chinese tourists visiting the country in 2019, with an average stay of 19 nights and total expenditures reaching £1 billion.
According to Expedia, there has been a noticeable surge in interest among Chinese tourists in visiting the UK during the first quarter, particularly in key shopping cities. This heightened interest is attributed to the growing wealth in China and the perceived welcoming environment in Britain.
The ongoing trade tensions between the United States and China have led to a shift in Chinese traveler preferences. The US has slipped from its previous ranking as the fifth most popular destination for overseas holidays to the ninth spot, with countries like Canada, Australia, and New Zealand also experiencing decreases due to bans on Huawei 5G technology. In contrast, the UK’s approval of Huawei 5G technology and participation in China’s Belt and Road economic initiative have positioned it favorably among Chinese travelers.
Moreover, the rich cultural heritage of Britain, the positive sentiment towards British culture, and the weakening UK pound have all contributed to making the UK a preferred destination for wealthy Chinese students seeking overseas study opportunities.
To effectively target affluent Chinese Millennials, who predominantly visit the UK between July and September, businesses must have a thorough understanding of their preferences. Domenica Di Lieto, the CEO of Emerging Communications, stresses the significance of integrating mobile payment systems into marketing strategies to engage meaningfully with Chinese tourists.
The inaugural conference, the first of its kind in the UK, is set to feature esteemed speakers such as Ashley Galina Dudarenok, the founder of ChoZan and a notable figure in the Chinese marketing realm, and China mobile technology expert Matthew Brennan. The event aims to bridge the gap between UK retailers and brands and the affluent Chinese tourist market through insightful discussions and expert viewpoints.
**Useful links**: Visit Britain – Chinese Tourists Spending, BBC News – UK and China Relations
