Experts: Europe a good bet despite crises

Confidence in tourism

The Palace of Versailles is one of the top destinations in Europe for Chinese. Despite recent events, experts say Europe remains a safe place to travel. Provided to China Daily

Long-haul markets, including China, used to be particularly sensitive and reactive to this kind of news, but not this time, Santander said.

He said reasons for this include the localized nature of the attacks, the fact that no tourists were terrorist targets, the prompt response of security forces and the presence of world leaders showing solidarity with French and European citizens.

"Despite recent events, Europe is and remains a safe place to travel, and Chinese visitors are welcome to enjoy the diversity and uniqueness of its different destinations," he said.

Christoph Klenner, secretary-general of the European Technology and Travel Services Association, based in Brussels, said that various political groups have exaggerated the effect of events like the Charlie Hebdo attack, and used them to advance their own agendas.

"Our leaders know very well that foreign investment and tourism, especially from China, are essential for our economy, and together with industry they are doing everything to ensure that visitors will continue to feel and be safe," Klenner said.

Maximilien Lejeune, executive director of European Best Destinations, a travel organization based in Brussels, said Europe and China have two of the lowest crime rates in the world.

"As a matter of fact, many Chinese people travel all over Europe. All the tourism offices are aware of the importance of looking after visitors and taking safety measures to ensure maximum safety to those who do our continent justice," Lejeune said.

One upcoming uncertainty facing Europe is the Greek general election on Jan 25, said Sebastian Dullien, Senior Policy Fellow at the European Council on Foreign Relations, a think tank.

Dullien said a risk is that the radical left Syriza bloc will win the election, as they are now ahead in some opinion polls. If they take power, they may reject the EU's strict austerity measures and this may lead to the possibility of Greece leaving the EU eventually.

"For investors, they may first want to wait, and if the risks go away soon they may invest later," said Dullien.

Dullien said the euro crisis is not yet resolved, and that the euro may continue to depreciate if the European Central Bank starts quantitative easing, which could adversely affect investor confidence.

However, the instability could also produce good opportunities to invest in underpriced assets, if Chinese investors are able to spot the best deals, Dullien said.

Contact the writers at fujing@chinadaily.com.cn and cecily.liu@chinadaily.com.cn

Liu Jia contributed to this story

 

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