EFG's Mok: The investment opportunities in China's booming tourism sector

Despite slowing growth

China's economy may be slowing, but this has not stopped consumers spending more to improve their lifestyles, with travel and tourism being the biggest winners, says EFG Asset Management's Mansfield Mok.

Much has been made about the slowdown in the Chinese economy but, despite the headlines, the fact remains that on a per-capita basis Chinese GDP is on an upward trajectory. Indeed, the average per-capita figure, which is currently in the $7,000-$8,000 range, is expected to rise to between $11,000 and $12,000 by 2020, with that number already being achieved in some metropolitan areas. For the average man and woman on the street that means one thing - more money to spend on luxuries. And among the luxuries being favoured by the Chinese population is travel and tourism. Where are the ...