Cheese Report June 2023

Tourism Industry Update

• Taiwan Outbound Departure Statistics for March 2023
• Taiwan Inbound Visitor Statistics for March 2023
• DGBAS Latest Economic Indicators for May 2023
• A New Upsurge for Commercial Transport has Arrived
• Surveys on the Recovery of Post-Pandemic Travel: Higher Preferences from People with 700,000 to 3,000,000 Income
• Travel expenses Increase Sharply as Taiwanese Craving for Travelling Abroad
• LINE Reveals Taiwanese Favourite Cities for Travelling after Pandemic
• Travelling Abroad Becomes Way More Expensive after Pandemic! Tourism Industry: Cost for Group Travel in Q3 Could Increase Dramatically for 50%

Media News

• From Idea to Action: 4 Crucial Elements for Advertising Contribute to Quality Creative
• The “Text-Based” Instagram is Coming Soon! Meta Sets to Compete Twitter with Features on 500 Character Post Including Videos. What are the Highlights?
• YouTube is Bringing Longer UnSkippable Ads to TVs
• Google Announced Advanced AI Based Advertising Tools: New Generative AI with Easier Ways for Advertisers and Merchants

Case Studies

• Korea Tourism Organization / Korea Beyond Your Imagination

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ー Tourism Industry Update ー

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Taiwan Outbound Departure Statistics for March 2023

1. 736,283 Taiwanese went abroad in March 2023, increasing 1569.99% from the same period of 2022 when 44,089 people went abroad.
2. The top destination for outbound travellers in March 2023 was Japan, followed by China, Korea, Hong Kong and Thailand. Hong Kong has the highest outbound travel destination rate, rising 12896.59 % from the same period of 2022.

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Taiwan Inbound Visitor Statistics for March 2023

In March 2023, Taiwan had 486,171 inbound visitors, increasing 2326.49% from the same month of 2022.

^{Source: Tourism Bureau, Ministry of Transportation and Communications
Full Article：https://bit.ly/3qIIl13
https://stat.taiwan.net.tw
https://bit.ly/3jBKr0X}

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DGBAS Latest Economic Indicators for May 2023

1. There were 11.50 million people employed and 417,000 unemployed in April, resulting in an unemployment rate of 3.50%, which was 3.56% after seasonal adjustments. The labor participation rate was 59.18%.
2. In March 2023, the average regular wage for employed workers was NT$45,432, which had 0.83% increasing month-over-month and 2.40% growth year-over-year. The average monthly earnings, including bonuses, overtime pay, and other irregular income, were NT$6,634. The overall wage was NT$52,066, which had 1.42% growth year-over-year. The recurring hourly wage for part-time employees was $201, a monthly decrease of 0.99% and an annual increase of 1.01%.

^{Source: DGBAS Latest Indicators
Full Artical}

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A New Upsurge for Commercial Transport has Arrived

The airline companies have been growing the services between Taiwan and China since the borders were opened. It is also possible to resume the round table conference between Taiwan Strait Tourism Association and Association For Tourism Exchange Across The Taiwan Strait. With optimistic responds from both associations, the travel restrictions are set to be lifted after the conference. 2 of the biggest airline companies from Taiwan said they are staying informed with the change of the policy in order to increase more flights based on the current capacity. With the win win situation between Taiwan and China, it is expected more Taiwanese tourists will travel to China and create a new upsurge for commercial transport.

^{Source: Economic Daily News
Full Artical}

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Surveys on the Recovery of Post-Pandemic Travel:

Higher Preferences from People with 700,000 to 3,000,000 Income

The post-pandemic travel is demonstrating a robust recovery. Master Card conducted a survey on Taiwanese shopping behaviour which shows 65% of Taiwanese are planning on travelling abroad this year with the higher preferences from people who make NTD$700,000 to NTD$3,000,000 income.

^{Source: Central News Agency
Full Article}

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Travel expenses Increase Sharply as Taiwanese Craving for Travelling Abroad

According to the Central Bank of the Republic of China (Taiwan), the inbound visitors for Taiwan increasing 27.3 times more than the same period of 2022 while the outbound visitors grew 15.1 times in Q1 within a year. On the Q1 services account, the travel credit (the expense from foreigners who travel to Taiwan) is US$1.4 billion while the travel debit (the expense from Taiwanese who travel abroad) is US$2.69 billion. The travel account demonstrates a deficit of US$1.29 billion which is the lowest record in 3.5 years since Q4 2019.

^{Source: udn.com
Full Article}

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LINE Reveals Taiwanese Favourite Cities for Travelling after Pandemic

According to the internal data from LINE Travel, the most popular destinations for Taiwan outbound travellers after the pandemic until March 2023 undoubtedly are Japan and Korea while Tokyo, Osaka, Seoul, Kyoto and Okinawa are the top 5 cities to visit. In western countries, the tourism market has almost recovered from the pandemic as the Covid restrictions were lifted earlier than Asia. Hence there is not much increase on the flight price to the western countries when comparing to Japan and Korea. The market also shows the demand for long haul flights is growing especially on these top 5 destinations: Paris, Barcelona, London, New York and Sydney.

^{Source: 3c.ltn
Full Article}

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Travelling Abroad Becomes Way More Expensive after Pandemic! Tourism Industry: Cost for Group Travel in Q3 Could Increase Dramatically for 50%

As the pandemic slows down, many people have begun planning for travelling abroad. However the price of group travel fee is still high up. According to Travel Quality Assurance Association, the reference price for group travel increased 30-40% due to staff shortage in the US and Canada this year on Q2, which is 80% more expensive than the pre-Covid price. Furthermore, the cost would probably grow 50% more in the coming summer holiday high season.

^{Source: SETNews
Full Article}

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ー Media Newsー

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From Idea to Action: 4 Crucial Elements for Advertising Contribute to Quality Creative

New study “Creative, The Performance Powerhouse” for year 2023 has been revealed by Yahoo and Magna Global, the leading global media investment and intelligence company. The study surveyed over 4,000 respondents and set out to understand the role that creative quality plays in ad effectiveness. The study findings suggest 4 crucial elements for advertising contribute to quality creative. Hoping to give advertisers a boost for ad traffic and reach the targets.

^{Source:brain
Full Article}

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The “Text-Based” Instagram is Coming Soon! Meta Sets to Compete Twitter with Features on 500 Character Post Including Videos. What are the Highlights?

The text-based Instagram “Instagram for Your Thoughts” built by Meta will be ready to launch next month and compete with Twitter. The post can be up to 500 characters and include photos, links and videos. This new app from Meta looks a lot like Twitter, but what are the highlights and advantages?

^{Source: Business Next
Full Article}

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YouTube is Bringing Longer UnSkippable Ads to TVs

According to YouTube, they have reached more than 150 million people across connected TVs in the US with longer viewing time. While more users tend to watch long-form content on larger screens, YouTube announced it will extend the ads time to 30-second unskippable ads on YouTube TV.

^{Source: POPBEE
Full Article}

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Google Announced Advanced AI Based Advertising Tools:

New Generative AI with Easier Ways for Advertisers and Merchants

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ー Case Studies ー

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Korea Tourism Organization / Korea Beyond Your Imagination

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