Exchange Database
Chinese tourism and investment in Southern California surges
Since the new owner of the Sheraton Gateway, a subsidiary of Shenzen Hazens Real Estate Group, put up billboards in China touting the 802-room hotel near the main entrance of the Los Angeles International Airport, there has been a 15% increase in Chinese travelers staying at the hotel. This is just one example of a surge in Chinese tourism and investment in Southern California. Tourism from China into Los Angeles nearly quadrupled last year to 570,000 visitors, up from 158,000 in 2009. In February, the Los Angeles Tourism & Convention Board launched its NiHao China program with a new Chinese website and visitor manual as well as 40,000 Chinese guidebooks featuring shopping destinations such as the Beverly Center and the Grove. Chinese tourists spent $655 million in Los Angeles in 2012, up from $450 million the year before, according to the tourism board. On average, each visitor shelled out $1,392 per trip, compared with the $1,095 budget of all foreign travelers.
Outcomes:
Many of the visitors are here scoping out purchases of homes, businesses and other investments.The LAEDC report sees more opportunities for Chinese investment in the Southland, especially in industries such as real estate, green technology and e-commerce. The number of Chinese-owned businesses in the county doubled to 254 in six years. Exports to China are rising out of Los Angeles, catapulting 52% in four years to $25.3 billion last year. Still, imports outweigh exports 5 to 1, with some $186 billion in Chinese goods and services unloaded in Los Angeles last year
Government?:
No
Type of Exchange:
business
culture
Partners:
China National Tourism Administration
Shenzen Hazens Real Estate Group
Los Angeles County Economic Development Corp.
Participants (Types):
Chinese tourists
Number of Participants:
570,000
Exchange Date:
Thursday, July 3, 2014
Continuing:
No
Image:
Location:
Los Angeles
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