Each winter, while many regions in the northern hemisphere are still blanketed in snow, the Copacabana Beach in the southern hemisphere remains vibrant with sunshine, beach volleyballs, and waves, alongside Santa Claus selling drinks on the beach. Yet, some Brazilians are opting to skip the sun and the beach in favor of starting the new year on the snowy slopes of the Alps.

According to Fosun’s 2024 interim results, Fosun Tourism Group’s (FTG) subsidiary, Club Med, performed remarkably, with all three major regions experiencing growth in business volume. In particular, its business volume in Brazil continued to grow, doubling since 2019.

This growth is driven by Club Med's continuous efforts to tap into emerging markets worldwide, particularly in South America, reshaping Brazilians' vacation habits.

In addition to overseas product and service expansion, Club Med's strategy of establishing a global presence, operating globally and enhancing regional capabilities is a key pillar of Fosun's globalization efforts.

A differentiated global presence to keep the off-season thriving

Club Med specializes in “Premium All-inclusive Resorts”, making vacations hassle-free for families. Guo Guangchang, Chairman of Fosun International, who is a fan of Club Med himself, expressed, “When I take my family on vacation, my kids have a great time with the G.O.s and come back happy after a fun-filled day. My wife gets to relax, and seeing them all happy makes me happy too. We are well taken care of during our vacations.”

Fosun's relationship with Club Med began in 2010. Since the acquisition of Club Med in 2015, Fosun has been enhancing Club Med's premium hotel product line and promoting the “Premium All-inclusive” model globally.

Club Med mainly operates mountain ski and beach resorts abroad, while in China, it has launched product lines such as Club Med Joyview and Club Med Urban Oasis to cater to the needs of Chinese families seeking short getaways and urban vacations, offering a variety of vacation experiences for visitors.

Club Med’s global operational capabilities and continuous expansion into emerging markets are crucial for its growth, allowing visitors from different regions to experience diverse vacation cultures. This has made “summer skiing” possible for Brazilian tourists.

In addition, Club Med expanded its presence across continents in 2023. The opening of the Charlevoix resort in Quebec, Canada, filled a gap in the North American ski resort market and contributed to a 15.6% increase in revenue for the region compared to 2022. Meanwhile, the four ski resorts in Hokkaido attracted a large number of visitors. During the Easter holiday period in April, overseas tourists accounted for 70% of the guests at the Guilin resort in China. Moreover, Southeast Asian countries such as Malaysia, Indonesia, and Thailand have not only become popular destinations but are also emerging as significant sources of visitors for Club Med.

All these would not be possible without Fosun's global operational capabilities. Fosun's approach to global operations, as seen in Club Med’s development, has gone beyond introducing overseas products and services and taking products and services overseas. It involves organization evolution and global resource integration by leveraging regional advantages to achieve a profound industrial presence and localized operations that benefit its industries and brands.

Fidelidade, an example of “two-way engagement” in globalization

Fidelidade serves as another great example of Fosun’s globalization strategy.

Fosun’s relationship with Fidelidade began in 2014, and this year marks the 10th year of Fosun’s entry into the Portuguese market.

Before Fosun’s investment, Fidelidade was already a market leader in Portugal, holding nearly one-third of the market share.

Over the past decade, with the support of Fosun’s extensive global business network, Fidelidade has not only maintained its leading position in the Portuguese market but has also rapidly expanded its international business.

In Latin America, Fidelidade has become the market leader in Bolivia and ranks third in Peru by market share. In Africa, Fidelidade is entering core insurance markets, while in the relatively mature European market, Fidelidade is exploring opportunities with innovative, low-capital consumption model.

In addition to market expansion, Fidelidade's investments now span Europe, North America, Latin America, and the Asia-Pacific region, achieving a diversified and international investment structure.

Through Fidelidade, Fosun is continuously enhancing its regional presence and operational capabilities. Millennium BCP has further strengthened Fosun's "insurance + investment" operational capabilities, while Luz Saúde, a subsidiary of Fidelidade, has introduced a unique "insurance + hospital" health insurance ecosystem to Fosun.

"Global organization + local operations," a scarce advantage

With a focus on overseas product and service expansion and regional capabilities development, Fosun's "global organization + local operations" model has become a scarce advantage. Today, Fosun operates businesses in more than 35 countries and regions, with overseas revenue accounting for 47%. "We are committed to our globalization strategy. Our overseas enterprises must also pursue global development. We have become one of the few Chinese companies rooted in China with global operational capabilities, and this is something we take great pride in." said Guo Guangchang, Chairman of Fosun International.

As Fosun focuses on industry operations today, its globalization capabilities not only enhance certainty and growth potential but also provide ongoing benefits to its industries.