The outbreak of Ebola forced many major airlines to suspend their services to West Africa. Emirates, British Airways are two of the major airlines who have stopped their services immediately after Ebola outbreak became a travel alert worldwide. However, there are two airlines that are still continuing their services to Guinea, Liberia and Sierra Leone.
Brussels Airlines and the Royal Air Maroc the largest airline of Morocco are taking this as a part of their social and humanitarian responsibility. Brussels Airlines says it has no plans to stop flying into Guinea, Sierra Leone or Liberia in the immediate future.
The vice president of Brussels Airlines, Mr. Geert Sciot said, “Without our flights it would become almost impossible for the medical team to reach the country.”
Sciot, who said that the airline has made flights to Africa a focus of their service for decades, said that the World Health Organization and other health groups had directly asked senior airline leadership to continue service to West Africa. Health groups also partnered with Brussels Airlines to implement measures to ensure safety for the passengers and crew.
All passengers leaving the region have their temperatures taken and are screened with a questionnaire; patients with Ebola symptoms are not allowed to fly. Airline crew are not permitted to spend the night in at-risk locations, so they travel on a Brussels flight to Senegal when they need to stay overnight in West Africa.
Attendees at today’s WTM Vision Conference Rimini will hear how the rapid adoption of tablets and smartphones by consumers around the globe is creating a new business environment for the travel and tourism industry.
Euromonitor International will present research showing how smartphones will become a significant transactional channel as customers become more comfortable using their devices for purchases as well as research.
According to Euromonitor, global online travel sales accounted for US$589 billion in 2013, amounting to 25% of total travel and tourism sales. Online sales are expected to grow faster than the total travel industry, growing 10% year-on-year and reaching US$827 billion by 2017.
And in 2017, 45% of the world’s population or 3.3 billion people will be internet users, with smartphones the most popular way of getting online.
Euromonitor also noted some changes to consumer behaviour as a result of the proliferation of devices and wider internet penetration.
It suggested that “online and mobile developments have enabled [consumers] to increasingly bypass traditional distribution, which has helped to drive growth in new business models and, particularly, peer-to-peer”.
The dominance of portable devices over fixed-line computers for internet access has led to the emergence of multi-screen consumer. Euromonitor refers to Google research which identifies sequential and simultaneous usage trends.
“In the case of sequential usage, smartphones are generally the starting point for consumers, who then move to PC, tablet or TV to continue their search for information on travel destinations and services, and possibly make their travel bookings. In the case of simultaneous usage, consumers will typically make a search on brands watched in TD advertisements through their smartphone or tablet,” Euromonitor said.
World Travel Market, Senior Director, Simon Press said: “The evidence is overwhelming. As the internet population grows and the adoption of devices increases, significant new consumer trends are emerging. Events such as the WTM Vision Conferences are helping the global travel industry understand these changes and find ways to thrive in the new economy”.
TripAdvisor, the world’s largest travel site*, today announced its annual Travellers’ Choice awards for restaurants across the globe. In total,353 fine dining restaurant winners were identified, including the top 25 in the world and dedicated lists for Asia, Canada, China, Europe, India, South America, South Pacific, the U.K. and the U.S.
Nikhil Ganju, Country Manager, TripAdvisor India says“Congratulations to the winning restaurants. For a while now, Indian chefs and Indian cuisine have been on a path of ascendancy on the global gastronomical stage – with 3 Indian restaurants being ranked by discerning global travellers on the Asian list of top fine dining restaurants, this is a great moment that calls for celebrations. Also, when global travellers start loving the best restaurants that locals enjoy, one knows something good is happening”.
“We are indeed proud that ITC’s culinary brands continue to garner appreciation in the country and are abetting India’s recognition on global platforms. We value the integrity of the TripAdvisor rating platform, that facilitates an integral interface for us, with our guests and are happy to be recognized through this medium” said DipakHaksar, Chief Operating Officer, ITC Ltd-Hotels Division.
Travellers’ Choice awards honor top travel spots worldwide based on the millions of valuable reviews and opinions from TripAdvisor travellers. Award winners were determined using an algorithm that took into account the quantity and quality of reviews for restaurants worldwide, gathered over a 12-month period.
What the travellers have to say!
1. Indian Accent, New Delhi(397 reviews)
“Amazing food / unconventional presentation and varied flavours”: It’s a small little restaurant tucked into a quiet corner in Delhi’s Manor Hotel. The Chef ShantanuMehrotra was a delight to talk to, He met us and checked our likes and dislikes. We ordered the fixed menu. The first thing that strikes you is the food presentation. It is unconventional to say the least! Minni blue cheese naans to Duck cornetto to carrot soup and pork ribs all were well made, flavourful and experimental. The chuski served in a miniature pressure cooker (see pic) gave us a much needed break from eating before the main course. The main course of Lamb shank was awesome and the choice of house wines was good with Sanagtorres red and a savignon blanc from New Zealand. The servers were smart professional and very helpful. Overall a very good experience.Reviewed by a TripAdvisor traveller from New Delhi, India.
2. Peshawri, Mumbai, Maharashtra (453 reviews)
“OMG! One of the Best!!!”:Where do I begin??! Peshawri is one of my MUST-GO places whenever I’m in Mumbai. No trip of mine to this wonderful city is complete without at least 1 visit. The food is ‘to-die-for’ and the service is pretty good too. Authentic north Indian cuisine. If you are a large group try the big Peshawri naan. Also recommend the mixed platter as a starter and of course the mandatory paneer dish in the main course! Don’t miss this if in Mumbai!!! Reviewed by a TripAdvisor traveller from Dubai, UA.E
3. Bukhara, New Delhi(1,202 reviews)
“Amazing Experience”: This place was recommended to me as THE place in New Delhi to eat. As I live in London, I like to think I’m pretty discerning when it comes to Indian cuisine – and this place lived up to its reputation. They have a great menu for single diners that allows you to try a bit of everything. My favourite dishes were the dal and the butter naan. Special thanks to my waiter Praveen who provided truly excellent recommendations, as well as flawless and friendly service. Reviewed by a TripAdvisor traveller from Toronto, Canada.
1. Indian Accent, New Delhi(397 reviews)
2. Peshawri, Mumbai(451 Reviews)
3. Bukhara, New Delhi(1200 Reviews)
4. Villa Maya, Thiruvananthapuram (Trivandrum) (188 Reviews)
5. Dakshin , Chennai (Madras)(213 reviews)
6. Dum Pukht, New Delhi(168 reviews)
7. Karavalli, Bangalore (151 reviews)
8. Thai Pavilion, Mumbai(181 reviews)
9. Nawab Saheb in Renaissance Mumbai Convention Centre Hotel, Mumbai (138 reviews)
10. Prego, Hyderabad (128 reviews)
Annexure:
1. Indian Accent, New Delhi(397 reviews)
Review:
“Amazing food / unconventional presentation and varied flavours”: It’s a small little restaurant tucked into a quiet corner in Delhi’s Manor Hotel. The Chef Shantanu Mehrotra was a delight to talk to, He met us and checked our likes and dislikes. We ordered the fixed menu. The first thing that strikes you is the food presentation. It is unconventional to say the least! Minni blue cheese naans to Duck cornetto to carrot soup and pork ribs all were well made, flavourful and experimental. The chuski served in a miniature pressure cooker (see pic) gave us a much needed break from eating before the main course. The main course of Lamb shank was awesome and the choice of house wines was good with Sanag torres red and a savignon blanc from New Zealand. The servers were smart professional and very helpful. Overall a very good experience. Reviewed by TripAdvisor traveller from New Delhi, India
2. Peshawri, Mumbai(451 Reviews)
Review:
“OMG! One of the Best!!!”: Where do I begin??! Peshawri is one of my MUST-GO places whenever I’m in Mumbai. No trip of mine to this wonderful city is complete without at least 1 visit. The food is ‘to-die-for’ and the service is pretty good too. Authentic north Indian cuisine. If you are a large group try the big Peshawri naan. Also recommend the mixed platter as a starter and of course the mandatory paneer dish in the main course! Don’t miss this if in Mumbai!!! Reviewed by TripAdvisor traveller from Dubai, UAE
3. Bukhara, New Delhi(1200 Reviews)
Review:
“Amazing Experience”: This place was recommended to me as THE place in New Delhi to eat. As I live in London, I like to think I’m pretty discerning when it comes to Indian cuisine – and this place lived up to its reputation. They have a great menu for single diners that allows you to try a bit of everything. My favourite dishes were the dal and the butter naan. Special thanks to my waiter Praveen who provided truly excellent recommendations, as well as flawless and friendly service. Reviewed by TripAdvisor traveller from Toronto, Canada
4. Villa Maya, Thiruvananthapuram (Trivandrum) (188 Reviews)
Review:
“Fabulous food in rustic scenic surroundings”
Every dish is carefully made to perfection. Be very specific with your choice and your steward will wow you. Spoke to the chef also. Surroundings are typical local flavour of the British raj. An experience one should not miss.Reviewed by TripAdvisor traveller from New Delhi, India
5. Dakshin , Chennai (Madras) (213 reviews)
Review:
“Sensational food and Phenomenal service”: I have to tell you this is one of the best restaurants I have been to in India. This is my first trip to Chennai and lot of my colleagues were raving about this restaurant. I will be honest I went there with no expectations what so ever but I should say I had the best experience while dining out. Actually I felt like I was being served at home. The waiters were very courteous and were very friendly in their approach. Suresh and Hemath made our evening a very special one. During our conversation with the waiter he found out it was my wedding anniversary and immediately organized for a cake. I was very touched with their caring nature. Now the food! I do not have words! It was simply irresistible. I had mentioned that I’m not a big chilli eater at the beginning and the chefs carefully crafted the food for me. It was delight to have the just right taste for me. I definitely recommend this food for anyone in this world. Overall a very happy and satisfying experience and I definitely wanted to share this with anyone who reads this. I’m glad I went to this restaurant and will definitely come back during my next visit. Thanks to all! Reviewed by TripAdvisor traveller from California, United States
6. Dum Pukht, New Delhi (168 reviews)
Review:
““First class service to match the bill but maybe not the food”: 1st thing to say is the food was good and the bill NOT as large as at the LaLit the next night but still twice what a better meal in Pune had cost the day before.I guess the locals go to see who is also there – apparently a smattering of Bollywood folk. Since I’d not recognise any of them my focus was the food. Biryni cooked under a pastry top to keep the steam in was equal and no better to countless indian buffets serving biryani, Prawns were lovely and well cooked, beer came out of the bottle as it should. Staff were attentive and explained what was what and made recommendations. All in my impression was “good, not excellent”, trading on “the place to be seen” more than achieving outstanding cusine and charging based on the hype over substance.”Reviewed by TripAdvisor traveller from Edinburgh, United Kingdom
7. Karavalli, Bangalore (151 reviews)
Review:
“Very good food, very nice garden setting (behind the hotel)”:There were two Karavalli’s listed on TripAdivsor but only this one has the correct address (the other one does not exist). After searching for this restaurant we found it in a garden setting down a hill behind the hotel, very pretty with garden seating. I was eating dinner with an Indian and although we asked for mild spice (in deference to my western palate) it was still pretty hot for me, but great flavors. We had Sungatache Kodi which was a prawn dish with ground coconut and spices ,excellent for using the breads in the sauce. And we had mutton dish which was very good (although the hotter of the two dishes). As a digestive we were served a salty spice broth which I really enjoyed although I had to drink it slowly due to the spice level.Reviewed by TripAdvisor traveller from Dallas, Texas, United States
8. Thai Pavilion, Mumbai (181 reviews)
Review:
“Amazing food …”: The Thai Pavilion, one of the restaurants of Vivanta President is one of the best Thai restaurants. The food is just amazing and the ambience is fantastic.Reviewed by TripAdvisor traveller from Warwick, United Kingdom
9. Nawab Saheb in Renaissance Mumbai Convention Centre Hotel, Mumbai (138 reviews)
Review:
“Tons of good food…”:The basic idea here is to put you in a descent ambiance, then give you a ton of really good food. Simple. You can choose a mix, veg, or non-veg Prix Fix meal. Service was fine, but frankly, I was so scared every time they walked up that I’d be given more food that I probably didn’t pay much attention.Reviewed by TripAdvisor traveller from New York City, New York
10. Prego, Hyderabad (128 reviews)
Review:
“Consistently Good Food and Service”:I usually order the chicken picatta and the garlic bread. The garlic bread is really a super-thin pizza type bread – delicious and addictive. The pastas and risottos are also excellent. Do try the Sunday Brunch so that you can sample a variety of pastas and other wonderful dishes. Service is always prompt and impeccable.Reviewed by TripAdvisor traveller from Midwest
Attendees at today’s WTM Vision Conference Rimini will hear how the rapid adoption of tablets and smartphones by consumers around the globe is creating a new business environment for the travel and tourism industry.
Euromonitor International will present research showing how smartphones will become a significant transactional channel as customers become more comfortable using their devices for purchases as well as research.
According to Euromonitor, global online travel sales accounted for US$589 billion in 2013, amounting to 25% of total travel and tourism sales. Online sales are expected to grow faster than the total travel industry, growing 10% year-on-year and reaching US$827 billion by 2017.
And in 2017, 45% of the world’s population or 3.3 billion people will be internet users, with smartphones the most popular way of getting online.
Euromonitor also noted some changes to consumer behaviour as a result of the proliferation of devices and wider internet penetration.
It suggested that “online and mobile developments have enabled [consumers] to increasingly bypass traditional distribution, which has helped to drive growth in new business models and, particularly, peer-to-peer”.
The dominance of portable devices over fixed-line computers for internet access has led to the emergence of multi-screen consumer. Euromonitor refers to Google research which identifies sequential and simultaneous usage trends.
“In the case of sequential usage, smartphones are generally the starting point for consumers, who then move to PC, tablet or TV to continue their search for information on travel destinations and services, and possibly make their travel bookings. In the case of simultaneous usage, consumers will typically make a search on brands watched in TD advertisements through their smartphone or tablet,” Euromonitor said.
World Travel Market, Senior Director, Simon Press said: “The evidence is overwhelming. As the internet population grows and the adoption of devices increases, significant new consumer trends are emerging. Events such as the WTM Vision Conferences are helping the global travel industry understand these changes and find ways to thrive in the new economy”.
Greek property prices continue to fall. Nominal apartment prices are estimated to have declined on average by 7.3 per cent year-on-year in the second quarter of 2014, according to the Bank of Greece, while Knight Frank’s latest Global House Price Index ranked the market as the second worst-performing in the world.
Low prices, though, are bringing buyers back to Greece, as bargain hunters from other countries step up their demand.
Overseas investment in Greek property doubled in the first half of 2014 compared to the same six months in 2013, according to new figures from the Bank of Greece. The data, reported by Athens daily newspaper ekathimerini, shows that €117.4 million was invested in Greek real estate between January and June 2014, compared to just €60.3 million in H1 2013.
Interest has showed signs of climbing throughout 2014. Greece climbed up one place to become the 12th most popular destination on TheMoveChannel.com in August, accounting for 1.92 per cent of enquiries. In April 2014, Greece entered the top 10 countries for the first time in seven months, as the country’s share of property enquiries on the portal trebled in Q1 2014.
Realtor.com has also seen interest climb in Greek property. Italy was the most searched-for country on the US portal,according to its latest report, followed by Jamaica, Mexico, the Dominican Republic and Costa Rica. While this remained the same as the previous month, Greece entered its top 10 destinations for the first time.
Demand is driven by holiday homes, says ekathimerini, noting that their average value has fallen more than 40 per cent since the financial crisis first struck the struggling economy. Now, though, as tourism fuels a gradual economic improvement, investment is rising: the millions injected into real estate in the first half of 2014 eclipsed the total €113 million invested in the whole of 2012.
Author – Dan Johnson
Foreigners doubled their investment in Greek property, mostly holiday homes, in the first half of the year compared to the same period in 2013, Bank of Greece data show.
Bad weather forced Ryanair to cancel their flights on Sunday. About 40 Liverpool-bound passengers are stranded on a Greek island and are possibly informed that might not get out of Greece before next month. The stranded passengers reportedly lost their composure when the budget air carrier responded indifferently.
The passengers at the Corfu International Airport claimed that they were left in dark about the real incident. According to the reports, there are a few heart patients and the passengers had to sit at the airport for almost 12 hours a day.
In a statement made by the Irish budget airline, a spokesperson said that the adverse weather conditions forced the cancellation of two flights to Manchester and Oslo Rygge on Sunday. He also said that the affected passengers were offered accomodation and refreshment vouchers.
Ryanair said that it is looking for a favourable weather condition to schedule additional flights for the stranded passengers and will soon contact the upset airline passengers.
Southern Europe’s cash-strapped governments are courting wealthy Chinese homebuyers, seeking to bolster their battered real estate markets by offering visas to those who purchase prime properties.
Cyprus, Greece and Portugal are providing resident permits to foreign buyers, while Spain is about to adopt a similar measure. The chance to purchase a home at depressed prices in southern Europe and gain what’s known as a golden visa is mostly being sold to Chinese investors, according to brokers.
“Property is what really attracts China’s rich,” said Nuno Durao, a founding partner at Irglux, a unit of real estate agency Fine & Country, in Cascais, Portugal. “With just half a million euros, high-net-worth Chinese investors will get a good return on their property investment and at the same time enjoy a handful of EU benefits they don’t have in China.”
Southern Europe is the latest target for rich Chinese homebuyers, who have been snapping up properties from Vancouver to London since 2010 as their wealth swells and China’s government steps up a three-year campaign to cool home prices there. Cyprus, Portugal and Greece are hot spots for the newly affluent Asians, according to SouFun Holdings Ltd. (SFUN), owner of China’s biggest real estate website and an organizer of overseas purchasing tours for Chinese seeking cheap properties and a chance to live in the EU.
Photographer: Simon Dawson/Bloomberg
Residential homes and hotels stand along the shoreline in Limassol, Cyprus.
Fast-Track Process
Greece and Cyprus offer fast-track permit processes for purchases of at least 250,000 euros ($335,000) and 300,000 euros, respectively. Portugal’s program has a minimum price of 500,000 euros.
While some wealthier European countries also grant special resident visas for investors, most require larger outlays and may not involve real estate. The U.K., for instance, grants special visasto individuals with at least 1 million pounds ($1.6 million) to invest in the country.
Those policies aren’t as attractive to wealthy Chinese as the incentives being offered in southern Europe, said Edmund Zhao, a real estate investor from China who spent 700,000 euros on an apartment in the coastal resort town of Cascais after arriving in Lisbon in April.
Zhao said he expects to receive his resident permit this month, which requires him to stay in Portugal for a minimum of seven days during the first year and 14 days every two years during the duration of his five-year visa. The visa will also let Zhao send any children he may have in the future to Europe’s most prestigious schools, he said.
Photographer: Mario Proenca/Bloomberg
Residential housing and other buildings stand on the bank of the Douro river in Oporto, Portugal.
‘Love It’
“I want to move there with my wife and parents as soon as possible,” Zhao said in a telephone interview from Hangzhou, eastern China, where the 38-year-old lives with his wife. “I love it.”
Buyers from mainland China typically look for immigration opportunities in southern Europe for their families because of the drop in real estate prices, said Wang Ning, a manager in the international property department at SouFun in Beijing. Some visas allow buyers to live and travel freely within Europe’s borderless Schengen Area, made up of 26 countries fromFinland in the north to Greece in the south.
While some Chinese buy a place as an investment and don’t live there, most are getting homes for personal use or to send their children to schools there, Wang said. Home prices in southern Europe are attractive compared with China — 300,000 euros buys a 200-square-meter (2,150-square-foot) villa facing the sea, said Wang. That amount buys a 68-square-meter apartment in centralShanghai, according to SouFun.
Euro’s Depreciation
Europe’s sovereign-debt crisis has also meant a depreciation of the euro, making real estate more affordable to Chinese buyers. The currency fell about 17 percent against China’s yuan from the beginning of 2010 through the end of July.
Photographer: Chris Ratcliffe/Bloomberg
Residential property is seen in Glyfada, the coastal resort on the Aegean Sea near Athens, Greece.
Searches for Portuguese properties on Juwai.com rose more than threefold from January through April, said Andrew Taylor, co-chief executive officer of the Chinese real estate website aimed at international home shoppers. Interest in Cyprus, Spain and Greece increased as much as 108 percent in that time, Taylor said in an e-mailed response to questions.
Cyprus is already “booming with Chinese investors,” said Nikolas Michalias, a property valuer at G&P Lazarou in Cyprus who spends half the year in China promoting golden visas tied to real estate investments. “Every day there are more than 20 Chinese nationals landing in Cyprus to search for property.”
The island nation this year followed Greece, Ireland and Portugal in requesting emergency aid from the EU and the International Monetary Fund.
Diverging Economies
Though the euro area’s economy came out of a record-long recession in the second quarter, parts of southern Europe remain stuck in the slump, with more than half of young people in Spain and Greece jobless. Meanwhile, the number of millionaires in China rose 4 percent from the previous 12 months to 2.8 million, the Hurun Research Institute said in June. Last month, new home prices rose the most since January 2011 in the Asian nation’s four major cities on speculation the government will refrain from imposing tighter curbs.
In Spain, where the collapse of a decade-long property boom has sent home prices down about 30 percent, lawmakers are set to approve a measure that will allow investors to apply for a renewable two-year residence permit if they spend at least 500,000 euros on a property, purchase 2 million euros or more of government debt, put at least 1 million euros in a Spanish bank or pay that much to acquire stakes in Spanish companies.
Rapid Response
Spain received “almost an immediate response” from Chinese investors when it announced the visa proposal last year, said Pia Arrieta Morales, a director at DM Properties, a Christies International affiliate in the seaside resort of Marbella.
Demand from Chinese buyers for golden visas is just beginning to surface in places like Greece, which passed its law in April. Prime Minister Antonis Samaras visited China in May and announced that non-Europeans who invest in the property market could gain the right to live in Greece.
A Chinese man became the first foreigner to benefit from the program earlier this month, Greek newspaper Kathimerini reported Aug. 13. Local real estate company BuildUp said the deal was signed on Aug. 8, and the firm is working with a Chinese company to promote Greece’s property market, according to Kathimerini.
“The visa legislation in Greece is still very recent and has so far had very little impact on the real estate market,” said Ioanna Plakokefalou, general manager at Hellenic Realty in Athens. “While we had some inquiries from Chinese and also Russian investors, their interest will depend on the political and economic situation.”
Portuguese Villas
Alison Buechner Hojbjerg, a director at Quinta Properties, a real estate agency selling luxury villas in Portugal’s southern Quinta do Lago resort, said the firm hasn’t had as much success as hoped from the golden-visa program.
“Those kinds of investors may be looking to buy cheaper properties than the ones we are selling,” she said.
A total of 102 golden visas have been granted in Portugal, mostly to Chinese investors, since the program began last year, according to data from the Portuguese Immigration and Borders Service. Brokers like Luis Hortelao with Re/Max in Lisbon say that even with a 500,000 euro minimum, one of the few barriers to more Chinese homebuyers coming to Portugal is language.
“My Chinese clients often come to Portugal and hire a translator,” Hortelao said. “They know exactly what they want: a modern property to rent out during their absence and a visa to travel in Europe.”
Chris Liem, owner and principal of Engel & Voelkers in Hong Kong, said Portuguese real estate offers a better alternative than property in the U.S., the U.K., Canada and Australia.
The benefits of buying in Portugal “far outweigh the investment costs,” Liem said. “Particularly for high net-worth Hong Kong and mainland Chinese who are looking for higher economic returns, a stable investment, a lifestyle investment and easy access to EU benefits.”
To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net
Last year, new overseas investment by the National Development and Reform Commission (NDRC) of China unleashed a wave of outbound investments by major Chinese real estate companies.
Under this new policy, going into effect October 6, investment projects abroad no longer require approval from the ministry – save for those in industries and countries deemed sensitive by the Chinese government.1
Not surprisingly, astute developers have been watching policy changes closely to capitalise on such new guidelines.Investments by Chinese developers have charted a 17% increase since the NDRC increased the threshold last December from $100 million to $1 billion for overseas investments required to obtain approval.2
One such developer is Shanghai-based Fosun Group, which has taken bold steps in recent years to steadily expand overseas – spending over $3.7 billion on foreign acquisitions since 2010.9
Fosun has undergone its fair share of successes, challenges and fierce competition, but they’ve only grown from strength to strength. With the new policy going into effect today, the world is its oyster.
Sources: 1. Mingtiandi.com; 2. Jones Lang LaSalle; 3. Bloomberg; 4. WSJ; 5. Financial Times; 6. Financial Times; 7. The Australian; 8. Mingtiandi.com; 9. Bloomberg; 10. WSJ
Did you know? The renminbi (RMB) literally translates to mean “the people’s currency”, while the yuan(CNY) means “dollar” in Chinese.
What’s the difference between the Renminbi and Yuan?
Renminbi is China’s official currency
Yuan is a unit in the renminbi currency
Hence, it would be incorrect in Chinese to say something costs 100 renminbi – it should be 100 yuan instead. Just think of the pound vs. sterling.
However, most locals in China more commonly use the colloquial term of kuài (块) instead, which means “piece” – similar to “buck” and “quid”. So you can say “100 kuài”, which means “100 pieces of money”.
Buy2Greece.com 