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Melia Hotels International Presentation

Our reputation as a company, consolidated through 60 years of hospitality experience, is today an important asset that allows us to convey confidence, solidity and solvency

Letter from the President

Dear readers,

In 2016 we celebrated a special landmark anniversary which I would like to share with all those who are part of the Meliá Hotels International family, “60 years of hospitality in an exciting industry”. Six decades have already passed since the foundation by Gabriel Escarrer Julià of what is today, we can proudly say, one of the largest hotel companies in the world. There are many people who over these 60 years have contributed their effort, motivation and affection to making Meliá Hotels International the great company it is today. So I would like to share this anniversary with you, along with our gratitude, affection and appreciation for the many years of commitment and professionalism.

In addition, 2016 was the year in which Meliá Hotels International was again listed on the IBEX 35. This long-awaited return has been made possible by the positive performance of the Company in recent years. Today, our team is made up of more than 44,000 people of over 140 nationalities, operating in 43 countries and with a rich mix of generations who bring enthusiasm and motivation. Meliá Hotels International also added a total of 8,284 people to its worldwide team this year, 21% of them in Spain.

The Company's environment and internationalisation, as well as its cultural and generational assets, require Meliá Hotels International to be in a constant process of transformation, not only in its management but in the hotel business model itself. In fact, we are evolving towards a model in which our management capacity becomes more important each year and facilitates growth with greater agility. Undoubtedly, a strong portfolio of internationally recognised hotel brands plays an important role in our future. The significant presence of Meliá Hotels International, which is comprised of 375 hotels, in close contact with different markets, proximity to our customers and knowledge of the social realities that we can capitalise on and integrate into this consistent and sustainable process of transformation in which we are engaged.

The cultural diversity that we have displayed in recent times will be enhanced now that Meliá Hotels International has increased its presence with the opening of 17 new hotels in four new countries. Today 15% of our portfolio is operated under group ownership, strengthening our strategy of positioning ourselves as a benchmark company with a low capital intensity management model.

Throughout our history we have faced up to the typical difficulties facing a dynamic industry that is constantly evolving, challenging and, of course, full of opportunities. Today, the complex geopolitical situation is marked by international terrorism, widespread market instability, Brexit and the various elections in Europe, the emergence of collaborative economies and consolidation within the sector. Without a doubt, this situation is defining a new business environment that we need to manage as an international company.

Since its inception Meliá Hotels International has grown not only in size and scope, but also in experience, self-discipline and responsibility. So, among the attributes that characterise the company I would like to emphasise our adaptability, desire to excel and, above all, our firm commitment to continuous improvement. This process was intensified six years ago when we overhauled our corporate brand and evolved from being Sol Meliá to Meliá Hotels International. It was the right time to update our corporate values, which have now taken on an important role as the guidelines for ensuring our process of transformation and growth.

We have accelerated a transformation that goes well beyond a change of corporate brand by encompassing the design of new products and services, strong hotel brands tailored to different customer profiles and segments, and entering new markets that have yet to be explored. With our strategic commitment to digitalization, we have optimised our processes to further improve our business management. The resulting operating efficiencies and synergies are undoubtedly allowing us to reach more customers, including the most demanding, so that we are strengthening the emotional ties that bind us together, while making them participants in the change process too.

The digital transformation that we are undergoing and the new management model that focuses on providing global experiences to our customers have been recognised by the markets. This successful combination has enabled us to strengthen our relationships and knowledge and to customise our management, basing it on proximity. Today we can celebrate the fact that the revamped melia.com has become the Company's main sales channel, generating €427.9 million in sales, and that MeliáRewards, our loyalty programme, will soon have over 7 million members. The positive evolution of MeliáPro, with growth of 71%, has also strengthened the link with our business partners (B2B), making it an excellent platform for contacting the more than 30,000 agencies registered on it. In general, Meliá Hotels International closed 2016 with very positive results, following a series of adverse trends in international tourism and several years of transformation. We have been able to improve the Company's main economic and financial indicators and to report an increase in RevPAR (revenue per available room) over 27 consecutive quarters.

The leadership and experience accumulated during these 60 years in the leisure segment - characterised by greater resilience and projected global growth - is today a distinguishing feature that gives us a clear advantage and competitive strength. The positive performance of the hotel business in terms of RevPAR, the indicator that best reflects the evolution of this business, which managed to surpass the levels recorded in 2007 (+14%), also translated into a year that closed with a net profit of €100.7 million, an improvement of 180% over the previous year. These results, together with positive financial management, which has reduced our debt by €226 million (placing it at the lowest level in our history), have exceeded market expectations.

I would like to highlight one important milestone in particular. Our Chairman and Founder has announced his resignation and transferred his executive powers to me in a special year for all of us. This fact guarantees our stakeholders continuity and renewal, keeping intact the family values that have characterised Meliá Hotels International since its inception.

We have owed a lot to our stakeholders since our beginnings as a company. They are part of our history, of our growth as a company and, it goes without saying, are an important part of the transformation in which we are engaged. Over time, we have built strong relationships and shared commitments with all of them. We also evaluate their priorities through a materiality analysis that, year after year, serves as a catalyst for a model of dialogue that is based on trust, closeness and transparency. It is precisely our commitments to our stakeholders that form a major part of the strategic priorities of Meliá Hotels International.

Ensuring the cultural change and transformation that Meliá Hotels International has undertaken requires us to foster and consolidate our corporate reputation and the management of our teams' talent, the essential foundations for bringing about transformation. In this connection, for the third consecutive year, the Company has been named by Merco as the Spanish tourism company with the best corporate reputation and the best employer brand. In parallel, Meliá Hotels International, as a hotelier, has a special commitment to environmental protection and the protection of its destinations. This commitment and our environmental strategy have placed us, once again, at the head of the Carbon Disclosure Project for our industry, making it clear that our reputation as responsible managers is recognised at an international level.

I think we are setting out to face our future from an excellent position and we need to take full advantage of it. As a family business, we have a long-term vision, a solid foundation and strong values, 60 years of experience and a team that is motivated and committed to generating shared value.

Gabriel Escarrer Jaume
Vice Chairman and Chief Executive Officer

Presence

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Aggregate revenues
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Asia Pacific
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EMEA
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Cuba
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Brazil
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Vision 2020 & milestones

Vision 2020

Our ambition is to position ourselves among the top hotel groups in the world in the middle and upper, urban and leisure segment, strengthen our leadership in this segment and be recognised as a world leader in excellence, responsibility and sustainability

CONSISTENCY

Because we do what we say
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EXCELLENCE

Because we do things well, with professionalism, efficiency and agility
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Proximity

Because we are passionate about sharing, listening... feeling
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Innovation

Because we evolve in anticipation of being better every day
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DEDICATION TO SERVICE

Because our guest is our true reason for being
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Milestones

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  • Presence

  • Entry into Miami and New York
  • Opening of our first hotel in Jamaica
  • Morocco opens its doors to our first hotel there
  • Signing a deal for a 100% organic hotel in Tanzania
  • Commitment to Iran, with the Gran Meliá brand
  • Launch of the renovated Gran Meliá Palacio de los Duques
  • Myanmar, a new destination in the Asia Pacific region
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  • Reputation

  • Gabriel Escarrer Juliá receives the “Hall of Fame Award”
  • The founder of Meliá Hotels International named Honorary Ambassador of Marca España (Brand Spain)
  • Industry leaders in Merco Companies & Merco Talent
  • The CDP Iberia 2016 index recognises our environmental commitment
  • Entry into the TOP 100 of Merco LATAM Corporate Reputation
  • Meliá Hotels International renews its alliance with UNICEF for the third time
  • Meliá Zanzibar, “Best initiative in sustainable development and corporate responsibility”
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  • Business

  • Meliá Hotels International celebrates 60 years of Hospitality
  • The Company returns to the IBEX 35
  • Work begins on the new hotel and commercial complex in Calviá Beach
  • Internationally recognised digital transformation
  • Telefónica enters as a technological partner worldwide
  • Meliá Hotels International is chosen to run the new Palacio de Congresos in Palma
  • Artificial intelligence & big data revolutionise customer awareness

Map of positioning

Meliá Hotels International has defined its position in various fields to reinforce its leadership and to drive change by generating value.

In order to strengthen this position, the Company collaborates directly with associates, partners and collaborators that are renowned in their fields, in­cluding civil society, multilateral organisations, public administrations and key institutions in the academic world with which it shares common objectives

arquitectura_1 Academic and cultural Environment Human Rights Social Business Sector Local International

Reputation and recognition

Over the last 60 years Meliá Hotels International has established a reputation that today is an essen­tial asset for creating and transmitting trust, solidity and reliability among its different stakeholders, and attracting talent. This reputation allows Meliá Ho­tels International to differentiate itself by respond­ing to the expectations that its stakeholders place in the Company in numerous tangible areas, such as its product and service, as well as intangibles, such as the Company’s reputation
Proximity
Excellence
Consistency
Innovation
Dedication to service
MERCO COMPANIES TOURISM SECTOR
1st position
Leading company with the best corporate reputation in the tourism sector
MERCO COMPANIES
17th position (+1)
One of the companies with the best corporate reputation
MERCO LATAM
TOP 100
Entry into the TOP 100. Evaluation carried out by Merco Companies in Spain and Latin America
TOP HOTELS MAGAZINE
17th position
Best Hotel Companies Worldwide
HOSTELTUR RANKING
1st position
Leader in Spain by presence, turnover and overall number of establishments and rooms
DIGITAL EUROPEAN MINDSET AWARDS
Best company in digital transformation
THE E-SHOW MADRID
Best development of a social media strategy
ACCENTURE STRATEGY AND EL ECONOMISTA
Digital talent award for talent management on social networks
WORLD TRAVEL AWARDS
Best resort brand in the world (Meliá Hotels & Resorts)
ACTUALIDAD ECONÓMICA
Best business idea 2016 (Sol Katmandú Park & Resort)
WORLDWIDE HOSPITALITY AWARDS
Best “wow” effect for a luxury hotel (ME London - Atrium)
BUSINESS TRAVEL AWARDS
Finalist in best midscale hotel brand (INNSIDE by Meliá)
FITUR 2016 STAND AWARDS
Best company stand
WORLDWIDE HOSPITALITY AWARDS
Best initiative in sustainable development and corporate responsibility (Meliá Zanzibar - A better life in Kairo)
SMART DESTINATION CONGRESS - ENERGY & SUSTAINABLE TOURISM
Smart Hotel Award 2016 (Meliá Hotels International)
HABITAT FUTURA
ReThink Hotel Award for the best hotels in sustainability and hotel refurbishment in Spain (Gran Meliá Palacio de los Duques)
TUI GROUP
TUI Environmental Champion (Meliá Salinas)
TRIPADVISOR
Ecoleaders (105 hotels)
TECHNICAL ADVISORY COMMITTEE
Entry in the IBEX 35.
BARCELONA CHAMBER OF COMMERCE
Llotja Award for the best information given by commercial companies to shareholders and the market
INSTITUTIONAL INVESTOR RESEARCH GROUP
One of the best investor relations teams in Europe
MERCO TALENT
16th position (+4)
One of the best companies at attracting and retaining talent
CHINA HOTEL TOURISM
Second-best employer in the hotel category
AENOR
Recognition of responsible management in the tourism sector (prevention of occupational risks)
HAUTE GRANDEUR GLOBAL HOTEL AWARDS
Best General Manager - Continent winner (Paradisus Playa del Carmen)
HOZPITALITY AWARDS
Best hotel team of the year - Silver Rank (Meliá Dubai)
HOZPITALITY AWARDS
Human Resources & Training (Meliá Dubai HR Officer)
TRIPADVISOR
Recognition of Excellence for 165 Meliá Hotels International hotels
CONDE NAST TRAVELER AWARDS
Best urban hotel (ME London)
VIETNAM TOURISM AWARDS
One of the best 5* hotels in Vietnam (TOP 10)
TRIVAGO RANKING
Meliá Jardines del Teide, INNSIDE Palma Center & Sol Kathmandu Park & Resort (best hotels preferred by the Spanish in summer and best hotel for travelling with children)
WORLD LUXURY HOTEL AWARDS
Recognition of luxury
EUROPEAN HOSPITALITY AWARDS
Recognition of new hotel openings or remodelling
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Recognitions
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Social Cash-flow

Meliá Hotels International has generated wealth of €2,878 million, distributed among numerous stake­holders. This authenticates the solid values on which the Company is founded, as its activity works to directly benefit society in general and, in particular, its stakeholders. This contribution has been distributed around the globe, due to the international presence of the Company in 43 countries and on 4 continents, as well as in the country where the Company was founded, Spain

Customers
Income from hotel activity, other assets and businesses
2.806,6 Mn€
+3,3% vs 2015
Divestments
Income from real estate divestment, group companies, financial assets, etc.
71,3 Mn€
-68,3% vs 2015
Suppliers
Payments to food and beverage suppliers, external services, transport, supplies, etc.
1.255,7 Mn€
+2,7% vs 2015
Rentals
Payments to owners of real estate assets used for hotel management and other activities
242,7 Mn€
+38,3% vs 2015
Employees
Payments to staff both in corporate offices and owned and managed hotels
600,7 Mn€
+2,9% vs 2015
Public Administration
For taxes related to benefits, social charges, taxes on activity, etc.
273,2 Mn€
-3,2% vs 2015
Investments
Payments for investments made, maintenance or refurbishment of Company assets
260,4 Mn€
+40,1% vs 2015
Shareholders
12,4 Mn€
Owners
197,9 Mn€
Other
35,1 Mn€
Customers
1.164,7 Mn€
Divestments
71,1 Mn€
Suppliers
449,4 Mn€
Rent
121,2 Mn€
Employees
304,6 Mn€
Public Administration
111,1 Mn€
Investment
171,4 Mn€
Shareholders
12,3 Mn€
Owners
67,5 Mn€
Other
-1,6 Mn€

Business model

Meliá Hotels International’s business model focuses on generating value for its stakeholders. This model is the result of the Company's evolution over six dec­ades in areas such as internationalisation, innovation and a range of global ser­vices under criteria of excellence and proximity to the needs and expectations of its stakeholders

DIGITALIZATION OF THE SALES AND DISTRIBUTION MODEL

The sales and distribution model has been strengthened by the arrival of new technologies offering an improved value proposition to customers and a greater degree of personalization.
The greater customer-based personalisation has improved satisfaction ratios and other operating and business ratios, such as an increase of the conversion ratio, an increase in revenues and their contribution to the profitability of the business
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CUSTOMER ORIENTATION

At Meliá Hotels International the customer is our main rationale, with a service culture as the pivot point around which the Company turns. For this reason, we are strengthening the management of our products, attributes and experiences, which are differentiated and customised by brand, as well as our gastronomic offerings, which give the Company’s brands a promise and delivery that are unique and exclusive in the hotel industry
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DIGITALIZATION OF PROCESSES

Technology applied to the digitalization of processes to improve productivity Meliá Hotels International promotes a culture that is based on the incorporation of cutting-edge technological solutions to give processes greater resolution, simplicity and speed and improve the quality of the results
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BACK OFFICE

To improve efficiency and effectiveness
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TALENT

The Company has an organisational structure that attracts, empowers and manages talent worldwide, is agile and efficient, and meets the challenges to Meliá Hotels International
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EXPANSION

As the Company’s international expansion increases, the Meliá Hotels International expansion department is being increasingly regionalised so that new opportunities can be identified at the local level that will contribute to increasing its global presence in the world’s leading destinations
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Business continuing development model
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Public commitments

Meliá Hotels International strives to make good on the commitments made by the Company to the different stakeholders, meeting their expectations while keeping to its culture and values

PARTNERS & OWNERS

Offering the best comprehensive services to make their investment profitable and managing it with the professionalism, seriousness and confidence of a great brand with international prestige
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SHAREHOLDERS & INVESTORS

Managing the Company with transparency, rigour and good governance, to achieve profitability and increase value in the medium and long term
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CUSTOMERS

Offering guests their best, personalised experiences of accommodation and exceeding their expectations with the excellence of the services
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PUBLIC INSTITUTIONS

Respecting the laws and regulations of the places where the Company is present and maintaining a relationship of transparency and maximum cooperation with all government departments
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PRESS AND MEDIA

Providing all the information that may be relevant to stakeholders with transparency, truthfulness and timeliness
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THE ENVIRONMENT

Contributing to the preservation of the environment and the surrounding landscape, taking care of the impact of its tourism activities and, at the same time, promoting awareness and sensitivity among its stakeholders
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SOCIETY

To actively seek the way to generate prosperity and sustainable development in the communities where Meliá Hotels International is present, respecting and promoting their culture, traditions and values, and paying special attention to children and the most vulnerable groups
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INDUSTRY & COMPETITION

Contributing to the sustainable development of tourism as a cornerstone of the progress and welfare of society, actively collaborating with organisations in the sector and maintaining, in particular, a relationship of respect and transparency with competitors
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SUPPLIERS

Using the Company’s professionalism and size to build lasting relationships based on trust, respect and mutual benefit
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EMPLOYEES

Offering the best opportunities for professional development, based on the stability of a family business and the solidity of a major international leader that knows how to recognise commitment, talent and achievements fairly
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Public commitments

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Materiality analysis

The Company Vision aims to be considered a worldwide benchmark for excellence, responsibility and sustainability and to promote a model of long-term sustainable development that ensures the creation of value for its internal and external stakeholders and contributes to improving the societies in which it is has a presence.

The materiality analysis helps the Company to understand the expectations, requirements and issues of importance identified by the stakeholders, allowing it to analyse them and implement initiatives to improve the business of today and the future. It also strengthens the ongoing relationship model that allows the stakeholders to assess the relevance and materiality of certain issues and their consideration and integration in the business model

Business

1. Business performance & results
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Business

2. Sales & marketing channels
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Business

3. Employer brand & talent
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Business

4. Relationship with stakeholders
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Business

5. Innovation
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Business

6. Brand & product strategy
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Business

7. Financial solvency
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Business

8. Presence & growth
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Business

9. Quality of the commercial offering
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Corporate Governance

10. Transparency
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Corporate Governance

11. Corporate governance
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CSR

12. Contribution to society
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CSR

13. Action against climate change
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Entorno

14. Technology & digitalization
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Entorno

15. Tourism industry & economic context
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BUSINESS

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CORPORATE GOVERNANCE

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CSR

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ENTORNO

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materialidad
1. BUSINESS PERFORMANCE & RESULTS

€1,802.0 million Revenues (+4%)
€279.5 million EBITDA without capital gains (+14%)
27 Consecutive quarters of RevPAR growth (CAGR 10%)

2. SALES & MARKETING CHANNELS

50.7% Centralised sales ratio (+21%)
39.9% Revenues from loyal customers +31%)
16.4% Mobile sales growth

3. EMPLOYER BRAND & TALENT

44,405 Employees (+5%)
71.4% Management positions filled internally
30% Employees < 30 years
16th position Merco Talent (+4 Pos.)
Top Employer China

4. RELATIONSHIP WITH STAKEHOLDERS

17th position Merco Talent (+1 Pos.)
TOP 100 Merco LATAM
6.9 million Members MeliáRewards (+44%)
6,304 Global suppliers (+45%)
19,699 Impact stakeholder newsletter

5. INNOVATION

€5.1 million Investment (+15%)
Best social media strategy The E-Show Madrid
Best business idea Katmandu Park & Resort

6. BRAND & PRODUCT STRATEGY

€163 million Investment (+52%)
World’s Best Resort Brand World Travel Awards
ME London Best Wow Effect by a luxury hotel World Travel Awards

7. FINANCIAL SOLVENCY

Debt reduction (-29%)
Evolution of shares (-9%)
€100.7 million Net profit (+180%)
TOP 3 Best European investor relations team

8. PRESENCE & GROWTH

Presence in 43 countries
375 Hotels
96,369 Rooms
17 Openings
30 Signings

9. QUALITY OF THE COMMERCIAL OFFERING

42.6% Net Promoter Score - NPS (+1 pp)
395 Hotel awards and recognitions
Launch of new melia.com
23 language versions available on melia.com

10. TRANSPARENCY

IBEX 35
28 Roadshows
Member of FTSE4GOOD IBEX since 2008
Llotja Prize for best information and transparency Chamber of Commerce of Barcelona

11. CORPORATE GOVERNANCE

25th position Merco Responsibility and Corporate Governance (-4 Pos.)
45% Independent Directors
234 Internal audits carried out (+14%)
7.1% Women promoted

12. CONTRIBUTION TO SOCIETY

+€700,000 Earmarked for children
€360.1 million Volume billed by local suppliers (+60%)
Best CSR project Worldwide Hospitality Awards Improving life in Kairo

13. ACTION AGAINST CLIMATE CHANGE

Carbon Disclosure Project CDP Top Iberia-A-
Carbon footprint: tonnes of CO2 per stay (-3%)
48% Portfolio of certified hotels (+8 pp)
Electricity consumption per stay (-12% kWh)
Water consumption per stay (-8% m3)
Consumption of kgCO2 per stay (-12%)
Fuel consumption per stay (-17% kWh)

14. TECHNOLOGY & DIGITALIZATION

€24.2 million Investment in technology (+37%)
Best company in digital transformation
Digital European Mindset Awards
Digital Talent Award Accenture Strategy & El Economista

15. TOURISM INDUSTRY & ECONOMIC CONTEXT

Presence in main sector forums
28.7 million Stays (-4%)
83% Non-Spanish customers (-1%)

02

Value Creation

Maintaining the success of Meliá Hotels International during these 60 years at the forefront of world hospitality stems from our constantly innovating and adapting to change and having a business model that is faithful to our values and meets the expectations of our stakeholders

Key figures

CONSOLIDATED REVENUES
1802 Mn€
+4% vs 2015
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NET ATTRIBUTABLE PROFIT
100.7 Mn€
+180% vs 2015
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INVESTMENTS IN BRANDS
+52.1%
vs 2015
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REVENUE NEW FOOD AND BEVERAGE CONCEPTS
+40.6%
2014-2016
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EVENTS ORGANISED
+9600
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PREMIUM & UPPER-UPSCALE & UPSCALE HOTELS SIGNED
90%
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REVPAR
70.5
+14% vs 2015
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DIRECT SALES
427.9 Mn€
+26,8% vs 2015
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ANALYSTS RECOMMEND TO PURCHASE OR ACCUMULATE COMPANY SHARES
100%
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OPENINGS
17
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FOLLOWERS ON SOCIAL MEDIA
3.5 Mn
+29% vs 2015
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GLOBAL SATISFACTION SCORE
82%
+1,2pp vs 2015
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MELIÁREWARDS MEMBERS
6.9 Mn
+43.7% vs 2015
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Overview of the environment

Meliá Hotels International monitors the macroeconomic and geopolitical environment and the evolution of trends so as to consider them and their impact on a dynamic environment that is constantly changing.

The growth of the tourism industry has remained solidly in line with expectations, despite challenges during the year, such as lack of security in some regions and geopolitical conflicts in specific destinations.

All this reflects the key importance of the tourism industry in the world economy, as it generates 10% of world GDP, 1 in 11 jobs worldwide and creates wealth for the local communities in which it operates.

Meliá Hotels International highlights the following factors as those that can mark the future of the global landscape in the coming months

Personalisation & experiences

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Collaborative economies

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Growth of urban areas

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New competitors (M&A)

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Millenial travellers

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Lack of legal guarantees

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Impact of OTAs

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Epidemics

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Brexit

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Opening of Cuba

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Cyber attacks

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Big data & analytics

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Connectivity of devices

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Cloud technology

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Real-time operation

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Fraud/data theft

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Digital customer

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Islamic State

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Geostrategic competition

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Collaborative innovation

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Migratory flows

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Climate change

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Political instability

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Economic uncertainty

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Volatility of financial markets

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Currency fluctuation

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Trust in emerging markets

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Price of raw materials

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Chinese economy

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Macro environment
Tourism industry
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Growth in world economy 2016
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+ %
Outlook for global growth 2017
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+ %
Growth in world tourism 2016
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