Pacific World Releases First Destination Development Report Focused on China
Report highlights recent growth, future developments and offers preview into industry-leading trends originating in China
Pacific World today unveiled China Destination Development Report: What’s Ahead?, a first-ever, industry-leading document highlighting the growth, trends, MICE industry developments and emerging destinations of one of the world’s fastest growing economies. Curated through Pacific World’s latest China research and unique industry insights, the report will serve as a guide for businesses and event planners in planning the most effective and engaging events at destinations across China now and in the future. Pacific World will share the China Destination Development Report: What’s Ahead? at PCMA’s Convening Leaders conference on January 6, 2020 in San Francisco.
“With the pace of change and developments in China we realize that many events professionals have limited to no information about today’s China business events landscape”, said Selina Sinclair, global managing director of Pacific World. “Through our insights reports we hope to help event professionals to close the gap and better understand China as a destination and to help them anticipate upcoming infrastructure developments to enable them to identify locations for events in 2023 and beyond”.
“As the platform for Business Events globally, PCMA is committed to bringing the latest insights and information that propels economic and social transformation in our world. Our partnership with Pacific World, shows the importance of the Chinese market on the world economy and the keys to unlocking its potential”, said Sherrif Karamat, CAE, president and CEO of PCMA. “ I am also absolutely delighted that the participants attending Convening Leaders will be the first to have access to this important research.”
Key Findings from China Destination Development Report: What’s Ahead?
As a leading economic superpower, China is one of the most innovative when it comes to utilizing technology, public-private investment and sustainable development to bolster its economy, industries and quality of life for its citizens. Initiatives such as Made in China 2025, a state-led initiative to fortify China as the global high-tech leader through a combination of government, private and foreign investment into innovation and infrastructure, and the Belt and Road Initiative (BRI), an ambitious plan to connect a vast area around the globe to several cities in China through infrastructure investment and economic development, will propel development of the business events industry.
As a growing global hub for technology and manufacturing, China is a key destination for meetings and events. Pacific World predicts that, boosted by Made in China 2025 and the BRI initiatives, several 2nd and 3rd tier cities inland will emerge over the next few years as future business and manufacturing hubs and potential MICE destinations.
Pacific World has identified the following cities as key MICE emerging destinations:
- Well Established – Beijing, Shanghai, Guangzhou
- Emerging 2019 – 2022 – Xi’An, Chengdu, Xiamen, Shenzhen, Hangzhou
- 2024 and beyond – Nanjing, Ningbo, Wuhan, Qingdao
Growing Travel & Tourism Industry
Estimates show that over the next years, China’s hotel industry will grow to US $100 billion with 6.3 million rooms.
The biggest growth is expected in the mid-scale category, with local and international hotel operators as well as real estate developers building over 2.000 new properties to meet current and future demands. Many new hotels are being built in the emerging cites such as Chengdu (at a record high of 124 projects), Wuhan (111), Xi’an (80) and Hangzhou (73).
Likewise, air travel to and within China is growing quickly. The current number of airports will increase from 238 to 450 by 2035 to accommodate more cities and more travelers.
Innovation for the MICE Industry
The Pacific World report highlights how China-based technology is leading the trend for meeting and event organization, with innovation that could bring the industry into the future. Pacific World views pioneering products like WeChat, a communications and retail platform, as the future for business events. The WeChat API has the potential to revolutionize event planning with features like event registration and payment, real-time customer service and feedback and onsite social engagement. It also offers potential for virtual enhancements such as AI recognition and VR and AR interaction.
Pacific World will unveil the China Destination Development Report on January 6, 2020 at PCMA Convening Leaders in San Francisco. More information on the report can be found here.