Tourism revenue from Chinese visitors over the past months have been far below the expectations of the Tourism Bureau, with the number of visitors and their level of spending in Taiwan falling short of estimates, a survey conducted by the Institute for Business Development (IBD, 商業發展研究院) said.
IBD vice president Tu Tze-chen (杜紫宸) said at a press briefing yesterday that based on the monthly average of between 70,000 and 80,000 arrivals from China, it was estimated that the total for this year would be about 900,000, way below the Tourism Bureau’s forecast of 1.6 million visitors.
Through interviews with 28 experienced tour guides and the observations of IBD researchers who posed as tour guides to collect information on tourists’ consumption behavior, the institute drafted an analysis on the benefits to the tourism sector from the opening to Chinese visitors.
The report indicates that, to the disappointment of the travel sector, Chinese tourists each spend an average of NT$35,244 for an eight-day, seven-night stay in Taiwan, which means that revenues from Chinese tourists this year may not reach the Tourism Bureau’s projected NT$30 billion, which is based on an estimated average spending figure of NT$62,601 per person.
IBD researcher Lee Chu-yuan (李竺姮) said the average expenditure of Chinese tourists was far less than expected, partly because of cutthroat competition among travel agencies.
With the itineraries of low-budget tour groups mostly confined to night markets and cursory tours of scenic spots such as Alishan and Sun Moon Lake, Chinese tourists have hardly had the opportunity to appreciate Taiwan’s attractions and culture and therefore might not come again, Lee said.
The IBD analysis shows that 70 percent of the Chinese tourists to Taiwan over the past few months were people from rural areas, over 40 years of age, looking forward to fulfilling a dream of “going to Taiwan,” and expecting intensive tours during which they would see a wide variety of places.
Tu said Taiwan’s tourism sector should help Chinese tourists develop an appreciation for delicacies like Din Tai Fung (鼎泰豐) dumplings and for music stores, coffee shops, wineries and the tea houses of the Eslite (誠品) bookstore chain.
He said that both the government and the tourism sector should target white-collar workers and young people in China and design theme tours of special interest to them.
As many Taiwanese corporations are now preparing to hold year-end parties for their employees, Tu said, corporations with branches in China should consider inviting their Chinese employees to attend the celebrations in Taiwan. Such a gesture of company unity can also serve as a type of tourism promotion, he said.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) secured a record 70.2 percent share of the global foundry business in the second quarter, up from 67.6 percent the previous quarter, and continued widening its lead over second-placed Samsung Electronics Co, TrendForce Corp (集邦科技) said on Monday. TSMC posted US$30.24 billion in sales in the April-to-June period, up 18.5 percent from the previous quarter, driven by major smartphone customers entering their ramp-up cycle and robust demand for artificial intelligence chips, laptops and PCs, which boosted wafer shipments and average selling prices, TrendForce said in a report. Samsung’s sales also grew in the second quarter, up
On Tuesday, US President Donald Trump weighed in on a pressing national issue: The rebranding of a restaurant chain. Last week, Cracker Barrel, a Tennessee company whose nationwide locations lean heavily on a cozy, old-timey aesthetic — “rocking chairs on the porch, a warm fire in the hearth, peg games on the table” — announced it was updating its logo. Uncle Herschel, the man who once appeared next to the letters with a barrel, was gone. It sparked ire on the right, with Donald Trump Jr leading a charge against the rebranding: “WTF is wrong with Cracker Barrel?!” Later, Trump Sr weighed
HEADWINDS: Upfront investment is unavoidable in the merger, but cost savings would materialize over time, TS Financial Holding Co president Welch Lin said TS Financial Holding Co (台新新光金控) said it would take about two years before the benefits of its merger with Shin Kong Financial Holding Co (新光金控) become evident, as the group prioritizes the consolidation of its major subsidiaries. “The group’s priority is to complete the consolidation of different subsidiaries,” Welch Lin (林維俊), president of the nation’s fourth-largest financial conglomerate by assets, told reporters during its first earnings briefing since the merger took effect on July 24. The asset management units are scheduled to merge in November, followed by life insurance in January next year and securities operations in April, Lin said. Banking integration,
LOOPHOLES: The move is to end a break that was aiding foreign producers without any similar benefit for US manufacturers, the US Department of Commerce said US President Donald Trump’s administration would make it harder for Samsung Electronics Co and SK Hynix Inc to ship critical equipment to their chipmaking operations in China, dealing a potential blow to the companies’ production in the world’s largest semiconductor market. The US Department of Commerce in a notice published on Friday said that it was revoking waivers for Samsung and SK Hynix to use US technologies in their Chinese operations. The companies had been operating in China under regulations that allow them to import chipmaking equipment without applying for a new license each time. The move would revise what is known