Write a 10 page essay on Market Opportunity Identification.The report will also evaluate the Strengths, Weaknesses, Opportunities and Threats (SWOT) posed by the Chinese market. The potential consumer

Write a 10 page essay on Market Opportunity Identification.

The report will also evaluate the Strengths, Weaknesses, Opportunities and Threats (SWOT) posed by the Chinese market. The potential consumer market in China for the online travel services offered Wotif.com will be analyzed in order to gauge the attractiveness of the market.

The Chinese economy has experienced a tremendous growth in the recent past. Before the economic recession set in, the economy of China was growing at two digit levels annually (Ding 5). It is notable that even with the impacts of the global financial crisis negatively affecting many economies in the world, China is still experiencing a significantly higher economic growth rate. The Chinese economy is greatly diversified with categories such as manufacturing, mining, energy, services, real estate among others. This implies that the growth in the economy cuts across all the major economic sectors including tourism and Information Communication Technology (ICT). Thus, China is an attractive international investment destination as its economy offers chances for business growth and expansion.

It is notable that China has the highest population in the world currently standing at over two billion people (Tian 2011). The majority of the population comprises of local people. The high population offers a huge domestic market that can be harnessed for business gain. China has a stable political environment with the leadership of the country entrusted on the Communist Party. The transition structures in China are clear and there are no chances of political upheavals or drastic changes in policy. The Communist Party elects the President who is the head of state and the Prime Minister who serves as the head of government. The centralization of power has ensured that there are uniform economic policies in China and minimal chances for political upheavals. The government has also adopted