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More Chinese expected to US
US and China sign tourism agreement
Thursday, December 13, 2007
Commerce Secretary Carlos M. Gutierrez signed a memorandum of understanding (MOU) that will bring more customers to the U.S. tourism industry by facilitating group leisure travel from China to the United States and permit United States destinations to market themselves in China.

The agreement between the United States and China was announced at the U.S.-China Joint Commission on Commerce and Trade (JCCT) and is expected to be implemented in the spring of 2008.

“This agreement will open a large and growing market for the U.S. travel and tourism industry,” said Gutierrez.

“This creates positive economic benefits for the United States and strengthens the relationship between our nations. Now more Chinese visitors have an opportunity to experience America’s hospitality, cultural diversity and natural beauty.”

The U.S. travel and tourism industry will benefit from this MOU. Chinese visitation is forecasted to reach 579,000 Chinese travelers to the U.S. by 2011, which will increase tourism related exports.

On average, Chinese citizens spend more during their stay than visitors from other countries. In 2006, average per visitor spending by Chinese citizens traveling to the United States was more than $6,000.

The agreement was reached under the U.S.-China Joint Commission on Commerce and Trade (JCCT) Travel and Tourism Working Group. During the May Strategic Economic Dialogue (SED) II meeting in Washington, DC, the United States and China signed a declaration to launch formal negotiations to facilitate Chinese group leisure travel to the United States. This MOU facilitates travel for Chinese citizens within the State Department’s existing visa procedures and may be terminated if significant numbers of group travelers overstay their period of admission into the United States.

Michael Verikios - Thursday, December 13, 2007
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Poll
How do you expect luxury travel to perform in times of economic downturn?.

Providers of luxury travel products are going to witness shorter stays by their customers and an increase in seasonality.

People are going to become more value conscious and will opt for those luxury offers that represent a convincing value-for-money proposition. Providers of overpriced services are those to feel the pinch.

Both people paying for their personal trips and firms paying for their top executives' business trips will cut back on travel expenses, thus affecting all luxury travel providers.

It is going to be business as usual. Those people opting for high-end travel products are not going to be affected by the looming crisis.

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