China’s booming ‘panda economy’ is black, white and spreading all over
- China’s giant pandas – many celebrities thanks to social media and live streaming – have become a new, promising source of revenue
When Spanish tourist Maxim Gomez arrived in China on his first visit, the 24-year-old had one destination in mind: the Chengdu Research Base of Giant Panda Breeding in the southwestern province of Sichuan, famed for its extensive collection of the country’s national mascots.
“This is probably the best spot in the world to see pandas, because it’s a reserve and not a zoo,” he said. “And pandas are very rare animals, which makes them unique.”
Like many of his friends, Gomez became enamoured of the animals for their clumsy, playful behaviour, as seen in videos shared en masse on his country’s social media platforms.
While the large bears and their distinctive black and white fur have become a ubiquitous presence online, they have also contributed to local tax revenues and created opportunities for enterprises in their habitats through tourism and merchandising, laying the foundation for what has been dubbed a “panda economy”.
The city as a whole welcomed nearly 20 million tourists during that time, generating revenue of nearly 15 billion yuan (US$2.1 billion), with panda-related hotel bookings more than tripling over the previous year over the holiday, according to the Sichuan government.
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