On the Indonesian resort island of Bali, the growing influx of Chinese tourists is not just changing the dynamics of the tourism market – it is also changing the faces of the Gods.
From the curbside stalls of Kuta beach to the upscale galleries in Ubud, most of the popular wooden and stone statues and figurines on sale are now carved with the face of Guanyin, the Chinese Buddhist goddess of mercy.
Just a few years ago on this predominantly Hindu island, such carvings almost all depicted Hindu gods such as elephant-faced Ganesh, or Vishnu riding a winged horse.
“Chinese tourists are the future for Bali and we have adapted many things to cater to their tastes,” says Adhi Wijaya, a tour guide in Bali. “The problem we have is they come on package tours with their own guides, stay in their own hotels and eat in their own restaurants.”
In spite of the global economic crisis, the number of Chinese tourists travelling abroad rose 5.2 per cent last year to 42.2m, up from less than 7m in 2001, while total spending rose 16 per cent from 2008 to about $42bn.
Source FT
I think the reason only reason is the still booming population of the Chinese people all over the world which only means they will soon or later populate other countries too tourist or expats.
This has also happened in Australia especially Sydney and Melbourne.
But the spin off to this is that the chinese might seem be on tour but are actually looking to invest here.
I say this because this is one of the major factor's taht has pushed the property value both in Sydney and Melbourne up because the Chinese have been buying up there.
The Australian government has had to change property ownerships laws because foreign investment was pushing the house prices so far up that the average Aussie could not buy property.
My advice is that it could be a good time to buy - but not in the peak tourist season.
Anzac,
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The aussie government has indeed modified slightly property laws; however, the country remains one the most expensive places south of peking to buy a suburban house.
I fully concur with indonesian governments view to allow leasing of land and control of residential prices while condo and apartments are purchasable it may be wise to follow hugh heffners advice and just rent.