John D.’s Post

Japan's Beef With a Weak Yen: The Best Wagyu Is Just for the Tourists By Miho Inada Andrew Wong, a 38-year-old tourist visiting Japan from Singapore, recently enjoyed the finest cut of Kobe beef, grilled for him in front of his eyes by a chef. The dinner cost the equivalent of about $175, and Wong said it was worth the splurge. Just a few blocks away, at a restaurant operated by the same company, Tsutomu Matsubara, a Japanese educator in his 60s, was dining on a lesser grade of beef at a lower price. He said he would never go to the pricier restaurant. "That's for foreigners," Matsubara said. "It would be cheap for them because of the weak yen." Japan is becoming two nations: In a few enclaves, foreigners wielding dollars and euros live the high life, while in most of the country, locals who hold only the weak domestic currency make do with less. In April, Japan received more than three million visitors, nearly matching a monthly record set in March. The cheap yen is also good for exporters such as Toyota Motor, which just reported its most profitable year on record. Toyota is racking up sales of hybrid cars in the U.S., where people pay in dollars. Japanese stock prices are near a record high. Japan Research Institute economist Shinichi Nishioka said the yen's weakness was hurting workers' real wages because they have to pay more for imported goods. But he expressed optimism that the situation would be self-correcting. 

Top Tips for travelling to Vietnam 1. Coffee Culture is king in Vietnam - try a Vietnamese coffee with condensed milk and a bit of ice - it is incredible! 2. Money - The currency is dong and the notes can be very confusing as 30,000 dong is roughly £1 so you can become a Vietnamese millionaire overnight. My top tip is to take out American dollars before you go and exchange those in one of the many foreign exchange bureaus abroad as you will get the best rate this way. But beware, they will only exchange crisp notes so if your dollars have any imperfections they will not be accepted. Card is not that widely accepted and if it is accepted they will usually charge you a fee 3. Vietnamese food is so fresh! And the food is also focused on sharing. Most meals are laid out as an assortment of dishes and it is customary to pass dishes at the table with both of your hands. Expect to find lots of local herbs, vegetables and seafood as staples of the diet. 4. Most places do not open really late. This is because most locals get up very early to work, so you won’t find too many bars and restaurants open past 10:30pm outside of the major cities. 5. Wine is expensive in Vietnam as it is all imported, opt for local spirits/cocktails or the local beer instead. Locals generally drink beer or soft drinks, or of course… coffee! #TopTips #TravellinginVietnam #VietnamTips #TinaTravel

🍷 Exploring Opportunities for Australian Wines in Asian Markets 📈 Asia's Promising Growth for Australian Wines As Vinexpo Asia takes place in Hong Kong, the spotlight is on the significant potential for Australian wine in Asian markets. Despite global declines in wine consumption, Asia, home to 60% of the world’s population, represents a key area for growth. The region's GDP is forecasted to grow above the global average, with wine consumption in Asia expected to increase by 1.5% per year to 2028, driven by recovering markets like China, Japan, South Korea, and India. 🌏 Market Explorer Highlights Asian Potential The newly re-designed Market Explorer by Wine Australia highlights that Asian markets present the best potential growth for imported wine consumption. Despite challenges, including high import tariffs in China between 2020 and 2024, Australian wine exports to Asia have grown in value by 4% annually over the past decade. In the year ending March 2024, exports were valued at $679 million, solidifying Asia as the most valuable region for Australian wine exports. 🇨🇳 China's Removal of Import Duties Boosts Prospects Significant developments include the removal of import duties on Australian wine by China's Ministry of Commerce, effective 28 March 2024. This move has been well-received by exporters, with early shipment levels looking promising. Wine Australia’s new Export Market Development Guidebook for China details opportunities and challenges, forecasting that while the wine market decline will continue, consumer spending and premium wine opportunities will rise with economic recovery. 🌟 Rebounding Markets in Thailand and Indonesia In Thailand and Indonesia, wine consumption is rebounding post-pandemic. Thailand has reduced import duties and excise taxes, aiming to boost the hospitality and tourism sectors. Similarly, Indonesia’s wine market, recovering from a pandemic slump, is growing robustly. Wine Australia’s updated market guides reflect these changes, aiding exporters in navigating these dynamic markets. Australian wines continue to leverage their competitive advantage in the region, poised for significant growth. #AustralianWine #VinexpoAsia #WineExports #AsianMarkets #WineIndustry #GlobalTrade #WineAustralia

The topic of "Tipping" is always awesomely contentious. And interesting enough, there's quite an evolution happening in Thailand with counter-top tip jars at the moment. Transparent tip-jars on the counter of your favorite cafe or quick-service restaurant have been the norm for years with the understanding that if 1 guest leaves a good tip, other guests will see the good tip and follow in the same manner. But with many counter-top tip jars full of uncleared receipts, rubbish, and low-denomination, foreign currency, many counter-top tip jars are turning to opaque designs in the hopes that they encourage tipping in a manner that the transparent tip jars did not. "If guests cannot see the low denominations, the crumpled receipts, the rubbish, etc, they will be more inclined to tip." An odd approach and interpretation in my opinion, but definitely an interesting evolution.

At first, it was just a casual conversation regarding the tourism industry's efforts of Thailand v Malaysia, particularly in the case of Langkawi v Hatyai. It seems like a hands down no competition - with Hatyai attracting levels of tourists that left its competition salivating. Is this purely down to Hatyai's quality offering? Or is it also because certain government policies overall efforts paid off? Recently, Thailand’s cabinent passed a landmark decision to reduce taxes for alcoholic beverages including wine, local liquor and spirits to promote tourism. According to the government spokesperson, import tariffs on wines, which currently stands at 54% and 60% of declared value, will be abolished indefinitely. Additionally, the excise tax on wine will also be lowered from 10% to 5% of its price. What would this mean for the tourism and alcohol industry in Malaysia? Well ... I guess only time will tell. (it does feel like Malaysia is forever playing catching up with its neighbours, doesn't it?)

FOOD IN CHINA - WHAT TO EXPECT ON YOUR TRAVELS Now that the zero-covid years are over in China and people can once again visit the country, we have relaunched our study tours with ChinaTechTrip and Focusplaza. Before every tour, we ask the participants if they have any questions. This year we found a remarkable number of questions and worries about the food in China. To put any traveller at ease, we have dug up a recording we made a few years ago and are sharing it in three videos on Chinese food: what to expect, what you will find on the menu, how to avoid mistakes, etc. This first video explains what you can expect when ordering food in China. Is the Chinese food like anything you'll normally get from the takeaway at home? And can you even talk about 'the Chinese food' at all? We hope you'll enjoy this, and stay tuned for the next two videos. And if you have eaten in China, do share your experiences below. #travel #china #food

And it's our latest Country Profile is now live ARENI Global! #Japan has long been a market admired for its dedication to quality, its commitment to education, its embrace of luxury, and its safety and security. It has also been a stable fine wine market for decades, attracting everything of quality, from wine made from obscure grapes, to the rarest wines in the world. It is, however, an ageing country and outsiders often fear that this demographic change means that wine consumption will fall in the near future. As our research demonstrates, the truth is much more complex and exciting. Japan’s citizens may be ageing, but they are some of the healthiest seniors in the world, who are retaining their wining and dining habits into old age. Not only that, but Japan’s extraordinary hospitality sector is a magnet for tourists, attracting gourmands who fly in from all over the world to experience the culinary culture. So vibrant is the sector that bookings have to be made months in advance to secure a seat in Tokyo’s many top restaurants. Altogether, there is no evidence that Japan’s fine wine market will be slowing down in the foreseeable future. Above all, the Japanese not only appreciate quality, but they are prepared to pay for it. This is not a culture that can be tempted or tricked by discount-driven marketing. Putting this report together was a great pleasure for everyone involved, as it developed into a portrait of a dynamic, wine-loving culture. A huge thanks to Mestrezat Grands Crus, Polly Hammond and Felicity Carter for their crucial help putting this report together. Understanding the Fine Wine Consumer: Country Profile Japan is now available on our website. Join us as a member today and access it freely, along with ALL Areni publications. Use the code JAPAN2023 and get 20% off your annual full membership. bit.ly/3Ltgiis #japan #finewines #marketinsights #report #consumerinsights #winebusiness

Thanks to Oxford Economics, we have a better understanding of the economic contribution of the international wine and spirits sector - through Asia Pacific International Spirits & Wines Alliance (APISWA) - to Southeast Asian economies and to the broader hospitality and tourism industry in #Vietnam and #Thailand. We look forward to working with all parties to maintain and grow this contribution by fighting illicit trade, fostering premiumization trends and promoting policies that encourage international trade and investment. #economiccontribution #premiumization #Covidrecovery #hospitality

🍷 Australian Wine Shines in Hong Kong In a remarkable year-on-year surge, Australian wine exports to Hong Kong escalated by 74% in 2023, marking Hong Kong as a standout market. The exports reached an impressive 9.4 million litres, valued at AU$290 million, also reflecting a 27% increase in volume. 🌐 Strategic Trading Hub: Hong Kong serves as a pivotal trading hub, akin to Singapore, with a significant portion of wine imports potentially being on-shipped to other destinations, including mainland China. This comes after China, once Australia's largest wine market, imposed punitive tariffs in 2020 amidst political tensions related to the Covid-19 pandemic. 🔍 Tariff Review and Export Dynamics: With China reviewing the tariffs on Australian wine, a resolution might be in sight by March 2024. This development could explain the substantial rise in exports to Hong Kong, possibly serving as a conduit for Australian wine into China. The number of exporters to Hong Kong has jumped to 531, showcasing the market's growing importance despite the previous setbacks in mainland China. 📈 Market Insights and Future Prospects: Despite the lack of concrete data on the final destinations of on-shipped wine, Hong Kong's role is increasingly significant not just as a trading hub but also as a vibrant market for Australian wine. The value of exports to Hong Kong has nearly tripled over the past decade, underscoring the region's growing affinity for Australian wines. 🌏 Asia's Growing Market: Asia remains the premier region for Australian wine export value, with developed markets like South Korea, Japan, and Hong Kong being key players. Moreover, emerging markets in Asia, such as Thailand and Vietnam, present new opportunities for Australian wine, promising exciting developments in the industry's future. #AustralianWine #HongKongMarket #WineExports #TradeInsights #WineIndustry

UK’s top 10 export and import destinations for manufactured goods (including food & beverage) Exports value (2022, billion). Source: UK Trade ONS 2023/ #internationaltrade #USA £ 56.70 Billion #Netherlands £37.00 Billion #Germany £33.30 Billion #Ireland £ 33.00 Billion #China £26.70 Billion #France £25.80 Billion #Switzerland £18.50 Billion #Belgium £18.10 Billion #HongKong £12.60 Billion #Italy £9.40 Billion