China's tourism and investment inject $27 billion into US economy
Chinese tourism spending in US has increased eight-fold from 2005 to 2015, and in 2015 contributed USD 27 billion to US economy, according to a report from USCC.
China's international tourism has expanded rapidly in the past 20 years. The United States has been a major beneficiary of the trend.
Chinese tourism spending in US has increased eight-fold from 2005 to 2015, and in 2015 contributed USD 27 billion to US economy, according to a report from US-China Economic and Security Review Commission (USCC).
Tourism constitutes a significant part of the United States’ exports to China, making up 57% of US service exports to China in 2015. This increase has been driven by rising Chinese incomes which have made China the largest source of international tourists in the world.
The United States has become a top destination for Chinese education and medical travel. An increasing number of Chinese students travel to the United States for secondary and tertiary education, with China now contributing more students to the United States than any other country.
Chinese visits to the United States constitute a large and rapidly growing share of the U.S. tourism industry. While significantly more mainland Chinese tourists visit nearby destinations such as Hong Kong, South Korea, or Thailand, a growing number of Chinese tourists traveled to the United States over the past decade.
More than three quarters of Chinese tourists to the United States come from top-tier cities Beijing, Shanghai, and Guangzhou. As incomes rise in lower-tier cities, more tourists from more destinations may be able to travel to the United States.
As Chinese tourism has increased, Chinese investment in US hotels and hospitality facilities has grown by a factor of 9 from 2013 to 2015 following looser Chinese rules on outbound investment.
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