Chinese investment & tourism to Monaco & the French Riviera
Following on from our coverage (see below) we will have a special report being published by CCI Riviera & Monaco news on Chinese investment & tourism to Monaco & the French Riviera, topics to include:
Property, Superyachts, Investment, Corporate/Private Jet travel, Hotels & Luxury Travel, Supercars, Art,Telecommunications etc
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Meeting HSH Prince Albert II Monaco
Affluent Chinese don’t just want to shop til they drop, though they will still continue to do just that. What they want are VIP tickets to Cannes Film Festival and to meet Prince Albert II of Monaco at a dinner party on the sidelines of a yacht sales event. For the uber-rich of China, traditional luxury has now gone post-luxury.
Monaco Week in China
Monaco Week, an affair that brought together Chinese high-net-worth individuals (HNWIs), business leaders and representatives from the Principality in celebration of Monaco’s rich culture and heritage. Through a series of impactful forums and presentations, complemented by glamorous social events, distinguished guests were able to gain valuable insights into the various opportunities available to them in the Mediterranean city-state.
Mr. Kevin Lin, President of Shanghai Yacht Club on the Bund, said, “We are truly honored to be co-hosting the Monaco Week after last year’s successful cooperation with the Principality of Monaco. We are happy to see an increasing number of China’s elite coming to appreciate yachting culture, and proud that our Club has become a landmark for Chinese HNWIs to gather and exchange ideas.”
Mrs. Catherine Fautrier, Ambassador of Monaco to China, said, “Through Monaco Week, we have continued to build the strong bridge between China and Monaco. Our wish is to organise this event each year in Shanghai and host the China Night in Monaco during the Monaco Yacht Show in September. We would like to impress upon our friends in China that Monaco is not just a glamorous place where you can find luxury hotels, cars, and superyachts; it is also an international business hub with strengths in various niches. Combined with strong political stability and a safe environment, Monaco is the place where the HNWIs of the world would like to be.”
In a year marking the 20th anniversary of the opening of diplomatic relations between China and Monaco, the aim of these events is to further strengthen economic ties between the Republic of China and the Principality
Monaco Yacht Show China Night
This 3rd edition of China Night is the return event of the annual Monaco Week in China, hosted by Noahs Yacht Club in Shanghai, a member of La Belle Classe Destinations, and a Monaco Salon in Beijing.
Held during the 25th Monaco Yacht Show, over 350 people accepted the invitation from the Monaco Embassy in China and the Tourist and Convention Authority, associated with the SBM, Monaco Economic Board, Prince Albert II of Monaco Foundation and the Yacht Club de Monaco
In a year marking the 20th anniversary of the opening of diplomatic relations between China and Monaco, the aim of these events is to further strengthen economic ties between the Republic of China and the Principality.
The French Riviera has named a Chinese film star as its “Ambassador”
As record numbers of Chinese holidaymakers discover the pleasures of Provence and the Côte d’Azur.
Liu Ye, who has appeared alongside Meryl Streep, Bruce Willis and Jackie Chan, first became famous for his role in the high-budget 2006 Chinese film, Curse of the Golden Flower.
His new mission is encourage more of his compatriots to tour the South of France.
Chinese are second only to Americans in the number of visitors to France, but until recently they have concentrated on sight-seeing and shopping for luxury brands in Paris.
Department stores such as Galeries Lafayette and Printemps provide Mandarin-speaking staff and Paris expects to “dethrone” Hong Kong as the top shopping destination for Chinese tourists this year.
Even a crash on the stock exchange and a currency devaluation failed to dull the Chinese enthusiasm for travel.
France received more than two million Chinese visitors last year, according to the former foreign minister, Laurent Fabius, a record that gave the stagnating French economy a welcome boost.
Some 90,000 travelled to the Riviera, a 50-per-cent increase. The regional authorities hope the number will rise to 200,000 a year by 2020.
Liu, 38, who is married to a Frenchwoman from Nice, is seen as a living embodiment of China’s love affair with France.
“I am happy to honour the home country of my wife and my second, adopted country,” he said, promising to help promote the introduction of direct flights between China and Nice, seen as a key step in attracting more Chinese tourists to the Mediterranean coast.
The title of ‘ambassador’ is not the first accolade France has bestowed on Liu. He was named a ‘chevalier’, or knight, of the Order of Arts and Letters in 2013, and last week a suite was named after him at the glamorous Carlton hotel in Cannes, a favourite haunt of celebrities.
China’s fascination with France is not limited to tourism. China is the largest export market for Bordeaux wines and its ever-growing thirst for claret has saved the illustrious appellation from decline, with a 35 per-cent increase in sales to China last year.
An estimated 120 Bordeaux châteaux are Chinese-owned — a small but rapidly increasing proportion of the more than 7,400 estates in the illustrious region. Four châteaux passed into Chinese hands last month, including the Château de Sours, bought by Jack Ma, founder of the e-commerce giant Alibaba.
Most Bordeaux producers welcome China’s expanding consumption but some are starting to feel concerned about the long-term rise of Chinese wine-growers, especially in areas with similar climate and soils to those in Bordeaux.
With an immense population, China is a continuously growing tourism market for France and Chinese visitors are the top spenders for outbound tourism. In 2014, Chinese tourists in France spent in excess of 1 billion Euros – a huge impact for France’s economy and something all French companies should be considering in their marketing plans.
Massive Tour Group
Recently the Chinese conglomerate Tiens Group treated 6,400 of the companies employess to a four-day trip to France.
The massive tour group, which spent €13 million ($15 million) total, filled 84 planes to Paris where they packed into 4,000 rooms across 140 hotels and took over the Louvre for a visit. They then ventured southwards to the French Riviera, where the group paraded down the street in blue and white color-coordinated outfits, spelling out the phrase, “Tiens’ Dream is Nice in the Côte d’Azure.”
French Vineyard Investment
Chinese investors now rival the French in buying vineyards in Bordeaux: a sign both of the region’s global prestige and China’s seemingly unquenchable thirst for wine, according to local property agencies and industry associations.
More than 100 properties in France’s southwest wine-producing area are today owned by Chinese tycoons looking to diversify fortunes built upon real estate, jewellery, industry or tourism holdings.
Although most of the Chinese owners stay discreet, French wine industry groups are publicly welcoming the new money flowing in.
Chinese & Cantonese Assitance
In recognising the increasing impact of Chinese tourism in this region, the Antibes Juan les Pins tourism office situated at the Palais des Congrès now employs a destination and marketing assistant who is fluent in Chinese and Cantonese.
For France and her territories this has been enhanced by the relaxation of Chinese travel regulations, including fast-track visas for France and visa-free initiatives for Tahiti and the Reunion Islands.
France is one of the Top 10 global outbound destinations for Chinese tourists, and one of the premier destinations for Chinese tourists in Europe.
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