Taiwan is opening up to tourism, with individuals from China allowed in as of this year, and shopping is high on their hit list. Steve Killick reports.
The explosion of China into a financial powerhouse has led to a surge in the demand among its more affluent citizens for luxury goods. First Hong Kong was targeted as the place to go to satisfy the need for designer watches, fashion and jewellery.
Now it is perceived as the dream destination where an even better deal may be had, and the powers that be in Taiwan have not been slow in embracing the advantages of high-spending neighbours.
It is reckoned that every Chinese visitor will spend US$246 each day, which is why on June 28 of this year, Chinese visitors were allowed into Taiwan individually rather than solely as tour groups.
Howie Wang, head of research at Jones Lang LaSalle in Taiwan, says: “The surge in Chinese tourism has had a really big impact on property in the country. In retail, leisure and even officer sectors we are seeing large sums invested on the back of Chinese spending power.”
If Taiwan is your country of interest, be sure to attend “Connecting internationally: Kinmen takes flight” (Weds 16 Nov, 10.15) and “World City – New investment opportunities in Taiwan” (Thurs 17 Nov, 10.30) at MIPIM asia 2011.