I have been thinking about the 150 million new consumers that are emerging with a desire for products and services similar to us.
In China it seems tourism is a major growth area – but I know very few people who have visited China on holiday.
I probably see the biggest opportunity for the UK in targeting the new middle class to visit the UK. Although they might focus initially on buying the brands that we desire they will at some point in the future start wanting to visit Europe.
But we serve this market very poorly at present. There is a good selection of flights from China to the UK, but tourism seems to focus on US/Japanese and EUropean tourists – especially to Scotland.
This could be a massive opportunity, but we will need to brush up our Mandarin – although these middle class consumers in China speak pretty good English!
In addition to this, e-commerce is an area that could be very interesting in China. I have noticed a few amazon.cn posters but don’t see a massive e-commerce market at present – but perhaps I am wrong.
I am sure health and beauty would be a major area – and dieting is of course going to become a major issue as the diet changes in China to a more Western one.Tweet