Shanghai service with a style

• Source: Global Times
• [14:58 June 28 2010]
• Comments

Outlook for luxury

The Asia Luxury Travel Market 2010 was held in Shanghai from June 14-17, and all the participants agreed that China is a booming market for high-end hotels. Lajus can't agree more. The economic crisis last year helped shift the balance to the East. The West is still struggling from the fallout of the crisis, but China managed a quick recovery thanks to the government's stimulus package.

The disposable income of Chinese people continues to grow every year, along with its population. Even a sliver of China's population makes for an impressive market. China is now the second largest luxury market in the world, and is expected to soon pass Japan, which has suffered from the global economic crisis.

A huge amount of money has been dedicated to marketing luxury brands. More and more people are eager to get involved. "Quality has a price, that's what I want to say. It's for all brands," Lajus said. "In Shanghai alone, last year, there were 12,000 to 13,000 rooms added in the city. This year, the number will be 3,000 to 4,000. But it's good for the consumers, as you get a good value for what you pay for."