The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: Falling arrivals from China have taken the edge off the strong growth previously forecast for
Taiwan's tourism industry; however, the outlook for the market remains broadly positive. Arrivals from
alternative regional markets such as Japan and South Korea, as well as those further afield in Europe and
North America, continue to grow and expansion is being supported by further investment in transport
infrastructure and widespread marketing campaigns. As such, the country remains an attractive proposition
for investors and we are seeing more new hotels entering the development pipeline, both in the capital and
in destinations further afield.
Key Updates And Forecasts
? China has long been the largest source market for arrivals to Taiwan. Since the election of President Tsai
Ing-wen, China has restricted the number of travellers allowed to visit Taiwan. At present quotas stand at
150,000 monthly tourists per segment, however, reports suggest further cuts will be made in October
2016 to just 37,500.
? These measures have resulted in a downgrade to our forecasts for growth in international arrivals and we
now expect the market to grow by 8.3% in 2016 to reach 11.3mn, with around 4.6mn arrivals from China.
? On a more positive note, Taiwan continues to improve air travel connections with new flight routes to
Japan launched by Far Eastern Air Transport and to Hanoi, Vietnam by Vietjet. Domestic travel will
also be facilitated by the expansion of the high speed rail network which connects the capital to
Kaohsiung in the south.