Veseth, the highly regarded Wine Economist and bestselling author has recently announced his extensive research on the global movement of wines and has announced, ‘Just follow the money. And the money is increasingly in Hong Kong and China‘. As the boom continues, in addition to a stable and growing market of middle class wine drinkers, Maria Troein, China manager for Wine Intelligence confirms that the future is rosy as ‘There are now new market segments of younger drinkers who like to drink wine to fit into their modern lifestyle.’ There are 20 million consumers of imported wine in China, according to Wine Intelligence. Presently, the wine market is focused on Tier 1 cities like Beijing, Shanghai and Guangzhou, there are up to 30 cities in China with populations of 3 million to 8 million where wealth is increasing every month.
Chinese tourists are travelling more than ever before and spending more than any other nationality while they are abroad. In 2018 Chinese travellers made 149 million overseas trips representing a year-on-year increase of 14.7% according to a report released by the China Tourism Academy. In terms […]
More China Wine Market News… The Spanish Bodegas Unidas has restructured its management team as it draws attention away from the UK and other mature markets to the fastest growing economy of China. Richard MacAdams said: […]