Last month Team Acumen attended the PwC Chinese Spring Festival Reception to celebrate the year of the Rooster Spring Festival and Chinese New Year. The event was held in PwC offices in North Wall Quay across the River Liffey from us in Acumen HQ joining over 100 business leaders to discuss the opportunities of doing business with China.
Mr Fearghal O’Rouke Senior Partner of PwC Ireland spoke of the close relationship between China and Ireland presents huge business opportunities. Highlighting Ireland is a gateway to Europe a market of over 500 million consumers with full access to the European Market.
The Chinese Ambassador to Ireland, H.E. Dr. Yue Xiaoyong spoke on economic, global and political issues and Ireland’s growing trade links with China. Dr. Yue Xiaoyong highlighted China’s Belt and Road initiative through co-operation agreements where China seeks to grow air travel connectivity adding new routes between China and Global cities not yet connected. New airline routes opens up new business opportunities as airlines expand their fleets to meet growing demand and new route development opportunities.
Ambassador H.E. Dr. Yue Xiaoyong added over the next five years China’s outbound tourism market is to exceed 700 million outbound trips. This year’s Spring Festival week long vacation more than 6 million people travelled aboard.
From Acumen team perspective there will be growing opportunities. The Chinese aviation market is one of the fastest-growing markets over the next 20 years, according to forecasts Chinese airlines will need nearly 6,000 new aircraft, valued at $780 billion , accounting for more than 40% of forecast deliveries to the Asia Pacific region.
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