Luxury Travel Back As China Reopens For Spring Festival

Spring Festival this year is a time of special rejoicing in China as it ends its “zero-COVID” policy and reopens its borders, which is great news for the tourist industry and cross-border trade. One company excited about this development is Chinese-based JX Luxventure JXJT, which provides comprehensive solutions for high-net-worth families with an emphasis on tourism and cross-border merchandise. 

The luxury travel industry is worth over $1 trillion and includes specialized services and unique opportunities in everything from travel and luxury accommodation to guided tours, art and high culture. Tourism looks to be booming in China as it reopens, with searches for outbound flights jumping 83% from families looking for a vacation getaway.

Trade was also hit hard by the pandemic which ravaged supply chain management (SCM) across the globe. 80% of SMC bosses are still saying they struggle to keep track of their supply chains. Now as China opens up, some of these tensions will be eased. This gives fresh horizons to JX Luxventure, which provides tourism opportunities, duty-free cross-border merchandise, and other product solutions to its customers.

Bring Luxury To The Next Adventure

As a company offering an elite combination of entertainment and relaxation, JX Luxventure, whose motto is “Life Loves Luxventure,” will be looking to help its customers spread their wings and enjoy new experiences as China’s border fully reopens. JX Luxventure’s operations involve comprehensive travel solutions for its affluent middle-class customer base, with business segments including eCommerce and business-to-business (B2B) software-as-solutions (SaaS), alongside its tourism and duty-free, cross-border commerce. 

As part of its tourism activities, JX Luxventure has agreements with 25 major airlines for ticket sales, agreements with key tourist destinations, and access to luxury cars and other luxury facilities – all offered in the “Luxury Package” available through its SaaS portal and other major platforms. 

Its SaaS portal also offers cross-border merchandise, which is used by vendors selling products that range from makeup to automobiles. The company utilizes artificial intelligence, blockchain, and its cloud-based supply distribution chain to continue the delivery of its high-end solutions. This allows the sophisticated SaaS system to be the hub coordinating shoppers and sellers and keeps track of the host of operations offered to JX Luxventure’s affluent clientele. 

As part of its growth plans, the company has been implementing a dedicated three-year strategy since 2020, which saw company revenue growth of 500% in 2021, while in the first half of 2022 it almost reached the full revenue earned in 2021. Entering the third year of its strategy in 2023, JX Luxventure has ended its period of strict revenue growth and is focusing on company profit and the expansion of its share in the market. 

CEO of JX Luxventure Sun “Ice” Lei recently commented saying, “Going forward, we will focus on investing in the growth of our tourism, cross-border merchandise, eCommerce and B2B SAAS solutions business. We remain committed to delivering accelerating growth and value creation for our shareholders.”

Other companies involved in the travel sector include Trafalgar, Abercrombie and Kent, MakeMyTrip MMYT and TripAdvisor TRIP.

Interested in learning more? Visit its website for more info. 

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Featured Photo by AlessandroBiascioli on Shutterstock.