In the eyes of Mr. Stewart Macdonald, senior vice executive for Asian-Pacific operation with MasterCard International , the surge of China's economy represents more than a cyclical economic growth, it is a revolution of consumption.

He expressed this at a global service forum on November 10 in Shanghai. A study by MasterCard indicates a recovery of the service and tourism sectors in Asia including China. In particular the tourism has brought unprecedented energy to the Asian-Pacific region. 5 percent to 10 percent of the GDP in this region was generated by tourism.

And China stands out. In 2003, Chinese travelers outnumbered Japanese tourists and boasted the most in Asia. From 2020, 100 million Chinese travelers a year predicted by the World Tourism Organization will set foot around the world including US, Germany, and Japan, which boosts recovery of the tourism in these countries.

This also gives a push-start to the aviation and service sectors in this region. The bourgeoisie community is swelling with the flights budget. The boom of private traveling in the years to come also means opportunities for small and medium sized businesses in this region.

This revolution of consumption will refresh various industries. Take the auto sector as an example. MasterCard forecasts 5 million units of car sales in China in 2004 with 2 million of them for private use. This staggering growth has made China the 3rd largest auto market in the world.

The jump of the auto possession in turn boosts relevant service sectors. More and more middle-class persons will drive their own cars for outgoings on the highways which are stretching miles and miles longer.

As a result, the remarkable expansion of the business of motels, hotels, and restaurants is expectable.

All of these justify Mr. Macdonald's vision of the revolution of consumption either as a spur to the domestic demand or a catalyst to the regional consumption structure.

By People's Daily Online