Club Med sees China as global growth driver

Club Med, a France-based premium all-inclusive resort operator, expected a rebound in business in the months ahead this year, a senior executive said on Thursday.

Due to recovering global tourism and inspired by business performance in July, when 73 percent of capacity was used, the company is confident about China's consumption potential, said Andrew Xu, CEO of Club Med in China.

"With pent-up demand gradually released, the prospects for the travel industry appear to be rosy in the coming months, and our Club Med Lijiang, which will open on Sept 25, is expected to further help fully unleash the consumption potential."

Xu said China's performance during the first half of this year has increased 171.9 percent compared with the same period last year and will remain the major growth engine for Club Med worldwide.

The company also plans to double its tourism villages in China before 2030 from the current seven nationwide, as the booming tourism market in China is expected to further drive economic recovery in the world's second-largest economy.

Tourism has been one of the economic sectors worst-hit by the pandemic since last year because of lockdown restrictions.

Qian Jiannong, chairman and CEO of Fosun Tourism Group — the owner of Club Med — said the operator is expected to continue its growth in the foreseeable future in the country buoyed by the promising China market, as China's tourism is undergoing a consumption upgrade.

Club Med plans to open another seven to eight tourism villages in China in less than three years, including one in Lijiang, Yunnan province. Another is under construction in the Changbai Mountains in Jilin province and is expected to welcome its first batch of visitors by this winter.