North West boosted by Beijing link

Manchester’s economy is booming thanks to the city’s new direct flights to Chinese destinations, according to a report.

Launched last year, the new Hainan Airlines route between Manchester and Beijing has provided a boost of £200m per month in tourism to the region, according to research from consultancy Steer Davies Gleave.

This tourism income is set to rise further as the biggest influx of Chinese tourists arrives during the festive season with Manchester International Airport expecting some 22,000 passengers in December. Staff have been trained in Mandarin to cope with the boom in Asian guests.

Many of these visitors come to spend their yuan at traditional Christmas markets and shopping malls but Chinese interest in Manchester during this holiday period also extends to the city’s bricks and mortar.

With Cathay Pacific increasing its service from Manchester to Hong Kong after daily flights started from December 1, Manchester is fast becoming a key location, and rival to London, for Chinese travellers, the report says.

Enquiries from potential investors to property agencies have risen by 54% since the launch of direct flights between Manchester and China reports Steer Davies Gleave.

One property investment consultancy which has seen just such a rise in interest is Properties of the World, which has recorded a 30% increase Chinese investors over the last year.

“Much of the inward investment pipeline for Manchester, including property, is from Chinese companies and investors and so direct flights from the city to a range of key Chinese destinations is important to enable those who own assets here are able to visit regularly and with ease. Manchester’s door is very much open to the East,” says Jean Liggett, CEO, Properties of the World

Xu Xiong of Properties of the World cites the fall of the pound as the reason for this recent boom in Chinese investment commenting that “Chinese investors are still taking advantage of the drop in Sterling against the Yuan, snapping up homes in the UK as the yields available are twice as high as those in China.”