Posted on: 20 December 2007 |
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Shangri-La's China Insider Guide gives the lowdown on the Olympics and shares a couple of consumer trends in what is destined to be the world's largest economy.
GAMES OF CHANCE
Thanks to “technical issues” caused by a high demand for the 1.85 million Olympic tickets put on sale in China on October 30 as part of the second round of Olympic ticketing, BOCOG has been forced to scrap its initial “first come, first served” policy, and instead revert to a lottery system similar to the one used in the first round of sales. If all goes to plan, the third phase - from April to August next year - will release tickets on a first come, first served basis.
COME FLY WITH ME
The third runway at Beijing Capital International Airport is officially up and running, somewhat easing traffic pressure at the country's busiest airport. At 3,800 metres long, the new runway will take daily flight capacity from 1,100 arrivals and departures to 1,900 during the Olympics next year. The adjoining new Terminal 3 is set to open in February 2008.
BIKE TO THE BIRDS NEST
You don’t need to don the Lycra and clock 100 mile/hour speeds to be part of Beijing’s Olympic cycling events, thanks to a new half day tour from Bicycle Kingdom. Jump on a city or mountain bike and explore Olympic Beijing. The 26 km ride ends at the Olympic Green, permitting bird’s eye
views of the Bird’s Nest.
KA-CHING!
If you’ve noticed a shortage in luxury cars and consumables around the world, it’s probably because they’re all making their way to China. A recent study found that the country now has over 345,000 millionaires – the second largest number in Asia behind Japan. China also has 4935 “Ultra-HNWIs” (Ultra High Net Worth Individuals) – people with assets of over $30 million – and 106 billionaires. Not bad considering that there were only 15 a year ago.
HEY BIG SPENDER
If they’re not buying up big at home, China’s wealthy are spending like there’s no tomorrow around the world, particularly in Europe, according to the latest Nielsen China Outbound Travel Monitor. Outbound tourists from Beijing, Shanghai and Guangzhou spend an average of US$5,253 each when in Europe, compared to just US$2,185 in Hong Kong and Macau, and US$1,904 in the rest of Asia.
