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Despite stalled growth in China, Brazil and Russia, a wave of newly middle-class travelers from the BRICs and beyond will start visiting international destinations in the coming decades — dwarfing the numbers we’ve seen thus far.
Every country is attempting to lure a lucrative and growing population of Chinese tourists, but details like Mandarin-speaking staff and the ability to accept Chinese payments are needed to turn their presence into profit.
In the first banking agreement of its kind, the Australian Tourism Export Council (ATEC) has announced details of a new partnership with National Australia Bank (NAB) which will help members become “China ready”.
The agreement will provide access to a wide range of NAB products and services tailored for ATEC members, as well as discounted merchant facilities, which are equipped with China UnionPay functionality. NAB will also provide members with information sessions on how to become “China ready”, outlining ways to grow their business from the Chinese tourism market.