Golden Week is a Chinese celebration, occurring twice this year; Tuesday, February 9th – Saturday, February 13th and Sunday, October 1st – Friday, October 7th. During this bi-annual observance in China, various national and local holidays are celebrated, including their paramount National Day; the memorial day for the founding of the People’s Republic of China.
Golden Week is also acknowledged as the biggest week for overseas travel. According to Fortune, 4 million Chinese planned to travel abroad in 2015, an increase of 11% over 2014. It is expected that international travel will increase again in 2016, due to the recent reciprocal visa validity and support extension.
“China’s outbound traveler numbers are still growing and are poised to double by 2020 to 234 million passengers, from more than 100 million last year.” – WSJ
Broker Opportunity
Not only is Golden Week an important celebration to Chinese, it presents extraordinary opportunities for brokers with listings that attract international clientele. It’s not unusual for wealthy travelers to sight-see while simultaneously scouting their next investment opportunity. A survey conducted by the Associated of Foreign Investors in Real Estate stated that “sixty-four percent of respondents said they intend to make modest or major increases to investments in U.S. real estate this year.”
The spending patterns are especially favorable for those in popular markets for Chinese tourists like New York City, Washington DC, Las Vegas, Los Angeles, or Miami.
Here are 4 ways to appeal to your potential clients from China:
- Mark Your Calendars
Many businesses simply are not aware of when to expect Chinese travelers. Never miss an opportunity by including important Chinese holidays in your firm’s month-to-month calendar.
- Come Prepared
First impressions are lasting impressions, and you don’t want your lack of readiness to void the sale. Prepare your pitch and marketing collateral to appeal to your foreign buyer. The country maybe new to them, and you must consider their angst. Additionally, don’t allow communication to serve as a barrier. Invest in real estate experts that are fluent in their language or hire a translator.
- Partner Strategically
Connect with local businesses like hotels, restaurants, luxury boutiques and surrounding tourist attractions to promote the entire community to potential Chinese buyers. You want your international buyer to feel welcome, and to know that they’re making a good investment.
- Don’t Fear the Follow-Up
Just because meeting up for coffee is not an option for international travelers, does not mean they won’t need nurturing. Prepare a lead management system specific to this buyer persona to ensure that their journey through the funnel is tailored to meet their needs. Consider time differences and holidays when reaching out by email, phone, or scheduling online meetings with Chinese buyers.
Travel and tourism is strengthening between the U.S. and China – take the appropriate steps to attract Chinese buyers to your listings. The upcoming Golden Week is the perfect opportunity to pull out all the stops! Prepare in advance and communicate your value to impress potential investors.
