Chinese Visiting the U.S. to Increase by Over 200%
The new U.S. visa laws unveiled in November 2014 grant qualified Chinese business and tourist travellers multiple-entry visas for up to 10 years. Chinese students, exchange visitors and their dependents are now eligible for multiple-entry visas valid for up to five years.
In 2013, 1.8 million Chinese tourists visited the U.S. Under the new visa law, that figure is expected to grow to 7.5 million by 2021, an increase of 317%1.
Chinese visitors spend about $7,000 per person in the U.S., compared with the average of $4,500 for all overseas visitors2. In announcing the visa change in November 2014, the White House said it could result in a $85 billion economic impact in the U.S. by 2021.
Karen Yan, Executive Vice President of JinList.com, commented on how Chinese tourists normally combine vacations with shopping, visiting schools, and inspecting properties they found on the Internet in China. 82% of Chinese travellers see shopping as a crucial part of their travel plans. This has created the perception that Chinese are Fly and Buy tourists.
The fact Chinese are avid shoppers while visiting the U.S. may be contributed to the extraordinary taxes in China - 15% Import Duty and 17% Value Added Tax are imposed upon many international branded products. Another consumption tax, up to 30%, may increase prices in China to 50% more than a shopper would pay overseas.
How to benefit from the sudden prosperous Chinese? Yan suggested the following:
Gain exposure among Chinese buyers behind the Great Firewall and before they board the plane;
Present your listings in proper Chinese.
Keep in mind only 0.73% Chinese speak English3. Let JinList local translators present your listings in idiomatic Chinese.
Promoting not only your properties but your company and expertise is key to reaching this demographic, commented Yan. Chinese prefer sites that are in Chinese, accessible in China, and prefer agents/brands that exhibit professionalism and have a good reputation.
JinList™ is forecasting that Chinese purchases of U.S. residential properties will reach $32.0 Billion for the 12 months ending March 2015.
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Sources: 1. U.S. State Department 2. U.S. State Department 3. Wikipedia
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About JinList.com
JinList.com is a professional online platform dedicated to connecting Chinese buyers with real estate professionals.
JinList™ has direct access to over 11.7 million registered users in 363 cities throughout China behind its Great Firewall. It also is connected with local Chinese communities in over 200 cities in North America. JinList™ helps real estate investors and professionals promote their expertise, brand and property listings among high net worth Chinese buyers and investors. JinList™ has a dedicated professional team based in Shanghai, China and Great Neck, NY. JinList™ local translators get your listings seen in China and translate your property descriptions in idiomatic Chinese.
Utilizing breakthrough technologies and innovative products that captivate people, JinList.com enables real estate professionals to connect with a large, affluent Chinese user base.
The JinList™ audience is engaged - ready to listen and make purchase decisions. Becoming a JinList.com member will extend your visibility and reach into China and tap a diverse, rich, and Internet-savvy group of buyers.
If you would like JinList™ to help grow your business among Chinese buyers, please feel free to contact us at Karen.yan@Jinlist.com
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This is an original publication by JinList.com. Although citation with full acknowledgement may be allowed, no copy or republication is permitted without written consent by JinList.com.
