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The Market Recap of the ICOs in 2018
Author: Alexandre LIM
Healthy, Sportive, Traveler, Geek, Gamer #MBADMB
How did Iceland become a top destination for Chinese travelers?
I am sure you heard about Northern Lights, the Blue Lagoon or the unpronounceable volcano Eyjafjallajökull, which went into eruption in 2010. But it is not only about that, Iceland is home of the largest glaciers in Europe. It is so-called the land of Fire and Ice, holding incredible glaciers, geysers, volcanos, mountains, fields, hot springs, and waterfalls. It is the island of adventure and nature.
Iceland is an island in the Atlantic ocean between Greenland and Northern Europe. It is populated by a bit more than 330,000 inhabitants and half of them live in Reykjavik, the capital city. And the funny fact is that there are actually more whales (350,000) than inhabitants.
It is also called the land of light and darkness. Why? Because it is located right below the Arctic Circle, almost 24-hours of sunlight punctuates long summer days whereas winter days provide very short daylight. This darkness is sublimated by Aurora Borealis (Northern Lights).
Activities such as Hiking, Caving, Ice Climbing, Diving, Whale and Northern Lights watching, attract a lot of travelers, reaching around 1.8million of them in 2016. (Source : Icelandic Tourist Board)
Among them, we count 70,000 Chinese visitors and this number keeps on increasing year-by-year. As a growing number of Chinese travelers seek out “exotic” destinations and new experiences, Iceland became a top traveling destination and this is just the beginning.
Iceland is facing an increase of 660% of Chinese tourists since five years, all of this without having direct flights between the two countries. However, the first one should be operated by Icelandair in 2018. This initiative is expected to largely increase and attract the curiosity of the new generation of Chinese travelers.
This new kind of travelers are not willing to travel in groups anymore and « cost » is far less important than the « experience ». This fresh generation represents 74 million of FIT (Free Independent Travelers) and more than half of them are seeking for unique experiences and breathtaking scenes of a given destination. It became their primary factor to consider while traveling overseas. (Source : Curiosity China ; Nielsen’s 2017 Report)
Considering the rise of Chinese travelers and knowing that 65% of them use mobile payment platforms while traveling overseas, it will not be surprising to see WeChat and Alipay being implemented in Iceland in the coming years.
Iceland tourism industry should be observed very closely and could become a main touristic destination for this new generation of Chinese travelers, looking for UNIQUE experiences.
Meanwhile, I invite you to watch this short clip presenting Iceland which I hope, will give you enough desire to visit this amazing island.
Ready to live by yourself? Check the flights with Ctrip
China’s digital world is just crazy but (almost) every tool you were using back in your country are different. There are no more Facebook, Instagram, Twitter nor Whatsapp or Messenger to communicate and chat with your friends. Instead in China, they are using one unique app which is called « WeChat ». Basically, you can do everything on it, you can chat, follow your favorite brands, restaurants, companies, you can share your moments but you are also able to PAY with WeChat !
First of all, we will guide you step by step on how to link your credit card to your account and the different way to use WeChat Pay. If you already have your WeChat account linked to your card, you can directly jump to the part 2 : The Different Ways to use WeChat Pay.
Requirement :
-Obviously a Smartphone, with internet connection
-A Chinese phone number
-A Chinese Credit Card (super easy to do, at any bank, anytime and it takes 20min top)
Part 1 : How to link your card to your account in 5 mins
- Open WeChat and go to the “ME” section
2. Click on Wallet then Cards
3. Tap on “+ Add a card”
You can now type your card information. Your name, passport ID and your phone number will be required.
It has to be the name and phone number that your bank has on file.
You will receive a confirmation code by SMS, enter it
Set a 6-digits security password to verify payments. It’s very important, it will be asked everytime you want to pay so you’d better choose an easy one and don’t forget it.
Congrats you just linked your card to your WeChat account!
PART 2 : THE DIFFERENT WAYS TO USE WECHAT PAY
1. TOP UP & WITHDRAWAL
On your account, you also have a balance which means you can top-up or withdraw from it.
Tap “Balance” and then tap “Top Up” to transfer money from your bank card to your WeChat Balance. Or tap “Withdraw” to do the opposite.
Note: WeChat charges a 0.1% commission when you make a withdrawal.
2. WECHAT PAY
By linking your credit card to your account, you unlocked another interesting option which is money transfer from your WeChat account to another. You can now easily split the bill at the restaurant or share a taxi for example.
We have divided the payment through WeChat into 3 sections:
Transfer, Receive Money by going dutch (Split Bill), Receive by showing a QR code
A. TRANSFER
There are 3 common ways to transfer money to others.
Transfer to a friend
This first option allows you to send money to a friend you already added. You just have to tap on the « + » on the right and then select « Transfer »
Transfer by scanning QR code
When transacting, people who receive the money will provide you with their WeChat Wallet QR codes. Scan the QR Codes to transfer money.
You will notice that in China, most of the shops, convenience stores, restaurants, bars or nightclubs have a QR code near their cashier, you can scan it and pay directly.
Pay a vendor
If you find this WeChat Pay logo at the cashier or in a store, it is possible for you to pay the vendor by providing your WeChat Pay QR code.
a. Tap “Money” and show the QR code to the cashier.
b. The Cashier will input the amount and scan your code.
c. Your expense will be automatically deducted from your WeChat account.
Tips:
Double check the amount of money deducted from your WeChat every time after the cashier scans your QR code.
B. Receive money by going dutch
a. Tap “Money”
b. Tap “Split Bill”
c. Tap “Create” then Select a chat group you’d like to split your bill with.
d. Input and tap “Create Now”
C. RECEIVE MONEY BY SHOWING QR CODE
a. Tap “Money”
b. Tap Receive Money
c. Show the unique QR code to the one who wants to transfer you money
D. In-App Payment
Thanks to WeChat Pay, you are also able to do In-App purchases. Most of the apps are WeChat friendly which makes the process way easier. There is no need anymore to enter your bank card numbers whenever you want to purchase something.
We invite you to check MBADMB’s tutorials from Pierre Reze about Didi, the Chinese Uber and Ele.me, the food delivery service.
Congrats, you know everything about WeChat Pay ! You are now ready to send and receive red packets (hongbao). It could be used to show appreciation, to send birthday wishes, to celebrate anniversaries and most important, to send Chinese New Year wishes (by the time we are writing this article, it will come really soon…. February 16th, 2018, remember the date !!).
It is outstanding how parks are important to Chinese people. Back in Europe, parks are places where people bring their children to play with, take a stroll or to have a picnic.
In China (as far as I know in Shanghai, Beijing & Xi’an), parks have a more central place for Chinese. Amongst the basic activities, they also have other hobbies. Those are places to practice sports such as tennis table, basketball, kung-fu, taichi and even dancing square.
What is dancing square? It is an exercise routine performed through music in squares, plazas but also in parks. It is popular for middle-aged and retired women. Because of its non-existent/very low cost and ease of participation, it is estimated that more than 100 million of Chinese people practice it. (Source: CCTV)
If you are intrigued by this common activity, click on this link and watch the VIDEO!
All parks are equipped for people to practice sports and exercises, all you need is to bring your basic gear.
In Shanghai, you can find the People’s Park, in Chinese: 人民公园 Rénmín Gōngyuán, located in the very center of the city. It is a public park south of Nanjing Road, a main shopping street with several major museums nearby, it is one of the top tourist destinations in the city. It is also famous for its marriage market, which is held every Saturday and Sunday from noon to 5pm. Parents of unmarried adults come and share information about their children to find the perfect match and/or the love. Basically, you can find the age, height, job, income, zodiac sign, education and personality of your future beloved one. All of this information is written on a paper, which is presented among other parents’ advertisements for their children. The parents walk around chatting with other parents to see if there is a harmonious match.
If you want more information about the marriage market in Shanghai, I invite you to check this link from Chinahighlights.
I am sharing a video showing the neighborhood of Zhongshan, which is located in the West Center part of Shanghai, and especially the Park of Zhongshan. It is a huge park where you can find a water field, running trails, work-out machines, playgrounds, many kung-fu practitioners but also an amusement park inside.
If you want to be up to date about what is happening and what is trendy in China, I invite you to check the articles of my MBADMB colleagues.