Attracting Chinese millionaires to Caribbean destinations

Transcription

1 Sponsored by Targeting the new millionaires and upscale Chinese travelers for the Caribbean CTO Leadership Strategy Conference - Barbados, October 8-11, 2010 Pierre Gervois CEO, China Elite Focus Limited

2 Attracting Chinese millionaires to Caribbean destinations 1- Who are the rich outbound Chinese travelers and what they really like 2- Why the Caribbean is a perfect destination for them 3- Marketing strategies to attract them to the Caribbean destinations

3 1- Who are the rich outbound Chinese travelers and what they really want

4 The 3 categories of affluent Chinese outbound travelers 1st category : High ranking Chinese officials & CEO s of State owned companies 2nd category : The sons and daughters of the above category 3rd category : Self made private entrepreneurs All these categories love outbound travel and a very few of them have, at the time being, heard about the Caribbean tourism opportunities...

5 What affluent Chinese outbound tourists really like (1/2) Luxury shopping (Jewelry, watches, clothes...) is always N 1 reason to travel abroad Golf is their favorite sport Gambling is extremely popular for rich Chinese (as Gambling is not authorized in Mainland China) The crucial importance of Chinese translation for all documents in hotels, resorts, casinos, as well as the presence of interpreters. They like to show off (and be seen with other western rich people) They like very large bedrooms & suites with gifts (Cognac, cigars...) Limousines with driver (German brands preferred, dark color with tainted glasses) Helicopter transfers

6 What affluent Chinese outbound tourists really like (2/2) Luxury weddings and honeymoons abroad with friends and family They like to go to night clubs and do Karaoke Some rich Chinese tourists may require a bodyguard (more for the social status than for real security reasons) If possible (for very important Chinese guests) a VIP welcome at the airport by senior officers of the Police Authorithy would be greatly appreciated Having the opportunity to meet, informally (during a cocktail for example), Caribbean Senior politicians (Cabinet members, Mayors, MP s...) would be considered as an honor by VIP Chinese tourists

7 What affluent Chinese outbound tourist do not like Eating Western or Caribbean food during all their stay (They will try, but would prefer to eat Chinese food from breakfast to dinner) They prefer large, new, resorts from well known international hotel chains to small boutique hotels They are generally moderately interested in historical & cultural activities Chinese tourists don t appreciate to wait too long, and expect to be treated as VIP guests at all times

8 2- Why the Caribbean is a perfect destination for rich Chinese outbound tourists

9 Caribbean islands are a perfect choice for affluent Chinese tourists The Caribbean tourism offer perfectly matches with what affluent Chinese like (Luxury hotels, Golf, Casino, luxury shopping,wedding organization...) Rich Chinese like to discover Elite destinations in which they will not meet other Chinese budget travelers, and will meet western affluent tourists Easy flight connections with Miami and New York (very popular destinations for Chinese) is a huge advantage Rich Chinese tourists may also consider buying luxury real estate in the Caribbean: a growing trend for affluent Chinese who buy now villas and condos in Western Europe and in the U.S.

10 Leisure & Investment trips in the Caribbean: The perfect match for rich Chinese Many Caribbean States offer exceptional investment opportunities to set up new businesses: A strong asset for rich Chinese For instance, the BVI is a very well known investment country for Chinese corporations and individuals As most of the wealthy Chinese tourists are also business owners, the Caribbean States should promote in China the concept of Investment & Leisure tours with leisure activities, as well as meetings arranged with attorneys, banks and Officials to promote investment in the Caribbean Wealth Management solutions offered by several Caribbean financial institutions are also interesting for Chinese HNWI willing to secure their assets outside China in convertible currencies

11 3- Marketing strategies to attract VIP Chinese to the Caribbean destinations

12 Affluent Chinese outbound travelers don t trust their local Chinese travel agent to prepare a trip... Affluent Chinese outbound tourists don t trust the traditional Chinese travel agencies to plan a luxury outbound trip, and won t go to ask their local Chinese travel agent to plan a luxury trip to the Caribbean They will, first of all, search on the Chinese web (in Chinese) about luxury destinations in: Chinese search engines ( Travel blogs Chinese social media networks (RenRen, FanFou...) Western social media (Twitter, Facebook...) On-line Chinese travel agencies (

13 ...Therefore, on-line marketing is crucial to promote Caribbean to affluent Chinese. Pay-Per Click campaign on Chinese search engines with (Chinese) keywords related to Caribbean activities (Luxury shopping, Golf, Weddings, luxury hotels...) Advertisement banners (in Chinese) on Chinese travel booking engines to promote Caribbean destinations Buzz Marketing on Chinese travel blogs with influential Chinese bloggers endorsing Caribbean destinations Social Media Marketing in Chinese social media: A strategic marketing channel to influence the choice of affluent Chinese tourists and convince them to choose a Caribbean destination Direct Marketing campaigns with highly targeted media such as the Shanghai Travelers Club e-newsletter, send to a database of wealthy Chinese frequent travelers is also essential to precisely target the Chinese HNWI

14 Off-line marketing strategies are also necessary to find affluent Chinese tourists where they are... VIP events can be successfully organized in Shanghai, Beijing, Guangzhou and second-tier cities to promote Caribbean countries (Invitation of a selected group of rich Chinese people, and presence of Caribbean officials). These kind of events are extremely appreciated by Chinese VIP s, who will be proud to meet in person Caribbean officials from Caribbean tourism organizations, as well as Caribbean Resorts General Managers. Media relations with Chinese journalists from Luxury Lifestyle magazines (Target, Noblesse, Golf Wednesday...): Organization of Fam tours in the Caribbean Partnerships with Private Business clubs in Shanghai and Beijing and organization of specific tours for the Club s members Partnerships with Chinese wedding planners for the young & rich Chinese couples Partnerships between Chinese golf courses and Caribbean Golf courses and organization of Golf tournaments in the Caribbean for Chinese golfers

15 Dare to attract very wealthy Chinese outbound travelers to the Caribbean There is no price limit for rich Chinese s luxury holidays...

16 Thank you! Blog: Sponsored by