What first comes to mind when you think of China…? The Great Wall, The Yangtze River, and perhaps super-modern megacities which have only recently hit the world stage. One image that probably doesn’t come to mind, or at least right away, includes beautiful beaches, palm trees, and baby-blue water. Welcome to Sanya, the Hawaii of China!
After working in busy cities and taxiing around countless industrial zones, there is nothing more enjoyable than taking a week to enjoy this little-known, very affordable Chinese getaway. Hainan is an island province in southern China, which is historically referred to as the Tail of the Dragon and the Gateway to Hell. But don’t let the old nicknames fool you, the prosperity of Eastern Chinese cities has started hitting the shores of this little province.
At 100-600rmb per night, depending on your taste, Sanya’s Da Dong Hai [三亚, 大东海] is a inexpensive locale with great beaches. And don’t be surprised if local vendors greet you in Russian; Sanya welcomed 331,000 visitors in the first quarter of 2010 alone! That’s quite amazing considering about 40,000 came in the entire year of 2005. Although Russian language won’t be required, speaking Mandarin will carry you a looong way.
My advice: Come now! With the busy summer season coming to a close, this is definitely the time to enjoy empty beaches, tropical dishes, and romantic sunsets. Explore this tiny enclave of Chinese beach culture before the big crowds come back in the winter.
If you are American, have you ever bought medicine in Canada because it was cheaper than back home? During the housing crash, which kicked off the great recession of 2008-2009, did you buy property at bargain basement prices? The goal in these scenarios is to take advantage of disparities between markets (in different geographical locations), which is the meaning of arbitrage. This strategy is used in financial markets everyday and can be expanded into more aspects of our lives.
Companies have been taking advantage of lower labor costs in developing countries for many years and it is becoming more common for individuals to do it too. Health and Medical Tourism is a booming industry, growing particularly fast in India. According to a report from McKinsey and Co, medical tourism in India will grow to USD 2 billion by 2012. [*] And in 2007, over 750,000 Americans spent $2.1 billion on cheaper medical treatments overseas. Medical travel is estimated to be growing at an annual rate of 20%-25%. By 2017, close to 23 million Americans will travel overseas for medical treatment. [*]
Although medical tourism is becoming more and more common, its not the only way to take advantage of price differentials around the world. Increasingly, you can improve your life by getting other people to do tasks that are not worth your time. Some great reading on how to do this can be found in Tim Ferris‘ Four Hour Work Week and A.J. Jacob’sMy Life as an Experiment, in which the authors organize clever ways to outsource as many parts of their lives as possible, including “…e-mails, phone calls, shopping, arguments with [his] wife and reading bedtime stories to [his]son.”
How do you shovel tasks off your plate in order to free up time?