Macroeconomic indicators of PRC and XUAR
The growing trend of the PRC’s GDP has a positive effect on the growth of the average salary and, accordingly, on the purchasing power of the Chinese. Moreover, in recent years, the growth rate of salaries in XUAR is ahead of the average Chinese indicators, which is very positive for the fashion business and entertainment market.
There is also an increase in domestic tourism of people in XUAR coming from other provinces of China. In 2013, the domestic tourism in XUAR increased by 23% and amounted to USD 4 billion in monetary terms. And this flow will only increase along with the growth of the middle class in China.
ICBC visit reasons
The majority of Chinese visitors come to the Center for touristic purposes. Apart from that, they are willing to buy brand products of the high quality on the Kazakhstani side of ICBC. The interest is also growing towards entertainment and recreational services.
The Tourist Department of the Administrative Committee of Khorgos SEZ is already now positioned to ensure 10,000 tourists a day. The tourist flow can be increased up to 50,000 people a day in case of construction of the tourist facilities and attractors on the Kazakhstan side of the Center.
According to the Chinese Institute of Tourism, the purchasing power of Chinese tourists is about USD 1000. Taking into account the gigantic potential volume of the China’s tourism market, zeroing in on this aspect provides the fundamental basis for development of businesses on the Kazakhstan side of “Khorgos” ICBC.
Potential tourist base of the Kazakhstan and Chinese project of “Khorgos” boundary cooperation