US Opportunity Analysis for China Outbound MICE Forecast to 2025

Posted by Pradnya on March 28th, 2017

China is one most dominant economies of the world. As a developing nation, China is spreading its wings in the global market. In the last few years, the country has created a huge market presence through its aggressive market-friendly policies and affordable and quality products. The growing economy of China is directly impacting the growth of the SAARC region and it is transforming the markets of South-East Asia to becoming more investor friendly and consistent. According to the Office of the United States Trade Representative US, China’s trade proportion has increased manifold in the past few years. In 2015 the trade between both the countries rose to 0 billion approximately. China is presently the largest goods trading partner of the US and the import of Chinese goods in the US has increased in the last few years. US markets are flooded with imported Chinese agricultural products. The Chinese are pumping in funds in some of the core industries of the US. Some of the fastest growing industries of the US are luring Chinese investors and reaping the benefits of the Chinese aggression. To hoard benefits from the US market Chinese investors are spreading their contours and penetrating into the most powerful economy in the world.

A mammoth chunk of the investors of China is planning to increase their market shares in overseas markets, which also include US. The China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to US & Forecast predicts a better market tie-up between China and US in the forthcoming years. The Chinese approach towards foreign markets has changed over the years. In the recent past, China has emerged as one of the leading investors in the US economy. According to a study almost 45 percent of the Chinese millionaires are eager to pump in more funds into the US markets. The ocean flanked cities of US such as San Francisco, New York and Los Angeles are drawing maximum Chinese FDI. The real estate sector of these cities is the hotbed of investment. As per data published by the National Association of Realtors, Chinese investors are crowding the real estate market in the US. This emerging market is also creating a positive scene for the China outbound MICE market to US.

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The improved tourism infrastructure in US and easy visa policies is creating a proper channel of communication between both the countries. The present trend of the US-bound Chinese tourists will multiply by 2020. Chinese travellers are one of biggest spenders and love to gamble. Which is why most of the Chinese travellers are making a beeline to US cities such as Las Vegas.

China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to US & Forecast: Game Changers

Apart from being one of the most coveted investment destinations for Chinese businessmen, the US is also the largest economies of the world. The demand of the US market is massive and to cope with the skyrocketing demand Chinese business giants are crawling into the wide market of the country. China is the largest developing economies of the world. The country produces a wide array of products starting from healthcare to heavy industries to automobiles. Chinese invasion has flooded the US market and boosted the US as well as the Chinese economy. The wealthy Chinese tourists are more eager to explore the beauty of the US and thus the footfall of Chinese tourists has increased in the last few years in the United States of America. These factors have significantly impacted the growth of the China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to the US. To fish out profits from the emerging Chinese economy, the US is also strategising and planning to boost bilateral tie-ups with China. Thus they are entertaining Chinese investors in the market.

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China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to US & Forecast: Restraints

US has been the target of several terror attacks in the recent past and this has diminished the interest of investors in the US markets.

China Outbound Meetings, Incentives, Conferences, Exhibitions (MICE) Tourism Market to US & Forecast: Bigwigs

China CYTS Tours, Shanghai Spring International Travel Services, and China Travel International are some of the prominent players in this sector. 

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