From 20 to 23 September 2023, the 10th Global Tourism Economy Forum (GTEF or the Forum) was held in Macao. The Forum was hosted by the Secretariat of Economy and Finance of the Government of Macao Special Administrative Region, and in collaboration with the United Nations World Tourism Organization, co-organized by China Chamber of Tourism and the Macao Government Tourism Office, and coordinated by the Global Tourism Economy Research Centre.

Ho Hau Wah, Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference and Chairman of the Forum, Zurab Pololikashvili, Secretary-General of the United Nations World Tourism Organization, Hu Heping, Minister of Culture and Tourism of China, Lei Wai Nong, Secretary for Economy and Finance of the Macau Special Administrative Region Government, Daniela Garnero Santanchè, Minister of Tourism of Italy, Qiu Xiaoping, Vice Chairman of the All-China Federation of Industry and Commerce, Liu Duo, Deputy Mayor of Shanghai, and Pansy Ho Chiu-king, Vice Chairman and Secretary-General of the Global Tourism Economy Forum, attended the opening ceremony and delivered speeches.

Xu Xiaoliang, Co-CEO of Fosun International and Chairman of Fosun Tourism Group, was invited to attend the Forum. He met with Ms. Pansy Ho, and the two exchanged views on how to promote tourism economic growth and boost cultural-tourism integrated development, reaching a cooperative intention to jointly create a sustainable tourism industry ecosystem.

 

Xu Xiaoliang also participated in a panel discussion themed "Tourism Makes People's Lives Better." In his speech, he emphasized that tourism not only relates to socio-economic aspects but also concerns human well-being. He expressed that while the mission of promoting high-quality tourism development and restoring confidence in the tourism industry is formidable, Fosun is fully committed.

Themed as "Destination 2030: Unlocking the Power of Tourism for Business and Development", GTEF 2023 kept abreast of new trends within the context of the United Nations' 2030 Agenda for Sustainable Development. Gathering high officials, ministers of culture, tourism and other related sectors, industry leaders, decision-makers and scholars from around the world, the event navigates opportunities for recovery of the global tourism economy by "thinking beyond tourism". Participants have discussed new ways of constructing a resilient, high-quality and people-oriented environment for the tourism industry in the new normal through innovative and sustainable international cooperation.

Creating a "Vacation-like Lifestyle, Lifestyle-based Vacation" to Make a Better Family Life

In recent years, especially after the pandemic, the tourism market has shown several new trends, including the rise of short trips around cities and the accelerated transition from traditional sightseeing to quality-focused and experience-centered vacations. At the panel discussion, Xu Xiaoliang elaborated on how Fosun Tourism Group creates international, high-quality, and rich-experience leisure vacation products from the two dimensions of "Vacation-like Lifestyle, Lifestyle-based Vacation", enhancing family life.

Xu Xiaoliang stated, "Fosun Tourism Group targets the increasing demand for leisure vacations, taking 'Better Holiday Better Life' as its mission. We've identified two strategic dimensions based on differences in vacation habits between the East and the West, such as vacation habits, timing, and duration – namely 'Vacation-like Lifestyle' and 'Lifestyle-based Vacation'."

For the Chinese market, Fosun Tourism Group introduced the concept of "Vacation-like Lifestyle," emphasizing that people can experience vacation-style living in their daily lives, offering richer products and content for urban residents. Thanks to the development of high-speed rail networks, major cities in China are increasingly interconnected, providing great convenience for urban and urban cluster vacations. "Vacations don't necessarily mean going far. You can even vacation without leaving the city. Looking at our cities today, while there's no shortage of business hotels, it's challenging to find experiential vacation hotels," Xu Xiaoliang remarked.

 

In line with this concept, Fosun Tourism Group's Club Med officially launched the "Club Med Urban Oasis" urban vacation product line and will open two new resorts in Nanjing and Taicang in the second half of this year. In addition, the company's Club Med Joyview product line, which focuses on suburban vacations, currently operates four resorts domestically. "With these urban and urban cluster vacation product lines, combined with our traditional long-distance 'Premium All-inclusive' product line, we believe 'Vacation-style Life' will come increasingly closer to people."

The other dimension, "Lifestyle-based Vacation", aims to integrate people's favorite elements of life into vacations. "Whether you're a fashion enthusiast or a sports fan, you can find content that matches your passions during vacations." Fosun has layouts in health, fashion, sports, and many other consumption areas. Through Fosun's global consumption ecosystem, Xu Xiaoliang hopes to offer customers richer, more diverse, and more personalized "Lifestyle-based Vacation".

In the Era of High-Quality Tourism Development, IP is the Core Competence

Currently, China's cultural and tourism industry is moving towards high-quality development. When asked about this transition, Xu Xiaoliang believes: "For traditional sightseeing tourism, unique natural and cultural resources of a scenic spot are essential. However, for the burgeoning vacation tourism of today, IP stands as the core competitive strength."

"IP is not just a concept, nor can it be achieved overnight. It requires the test of time, acknowledgment from customers, and continuous evolution through a system. Once an IP is formed, its potential for growth and expansion is vast," Xu Xiaoliang emphasized. Today, Fosun Tourism Group boasts two super IPs: Club Med and Atlantis Sanya. Club Med, a brand with a 73-year history, operates over 60 resorts worldwide. Atlantis Sanya, co-created by Fosun Tourism Group and the Kerzner Group, has stood out since its inception, setting a benchmark for high-end tourist destinations in China.

 

"From Fosun Tourism Group's strategic perspective, our focus is on introducing quality IPs through investments and collaborations. With our localized and ecological operations, we aim to implement these IPs in specific projects," Xu Xiaoliang stated. Since joining the Fosun ecosystem, Club Med has operated nearly 10 resorts in China, starting from zero, and has launched new product lines tailored for the Chinese market. In the future, it will also form IP clusters with other IPs.

"Besides a good brand and business model being an IP, a good event, such as a music festival or esports competition, is also an IP. They can illuminate our offline scenes and ensure 'off-seasons aren't off.' Thus, quality event IPs are also what we are seeking globally," Xu Xiaoliang added.

"Looking ahead, on the one hand, we will gather global premium resources, seek top-tier IP content, introduce them locally, and serve domestic families. On the other hand, we'll embrace the new trends in tourism consumption, leverage Fosun's ecological advantages, and innovate products, scenes, and experiences. Fosun Tourism Group looks forward to collaborating with more outstanding enterprises and industry participants to boost tourism development in China and globally, marching towards a brighter future together."