by Tim Wood
Last updated: 1:41 PM ET, Mon November 10, 2014
Travel industry leaders are excited by today's news out of China that the U.S. and China will honor each other's visas for up to 10 years.
That extends the current one-year limit on visas between the two countries.
"I've heard from American business leaders about how valuable this step will be. And we've worked hard to achieve this outcome because it clearly serves the mutual interest of both of our countries," Obama said Monday at a summit of the Asia-Pacific Economic Cooperation (APEC).
White House officials expect the news to spur job growth in tourism, with up to 440,000 American jobs created by 2021 and an estimated $85 billion annual economic impact.
U.S. Travel Association President and CEO Roger Dow said the impact of the announcement on the travel industry will be "strong and immediate".
"This policy move will harness the colossal and growing Chinese travel market for the direct benefit of U.S. job creation, exports and economic growth," Dow said. "Kudos to the Obama administration for negotiating this deal that will deliver tangible progress towards meeting his strategic objectives.
"President Obama and his team have long been a receptive audience for policy suggestions that help rev the powerful economic engine that is international travel. The travel community is always heartened and gratified when those proposals become policy reality, as we are with this one, which U.S. Travel first offered in a 2011 international travel report."
Dow said that international travel dollars are medicine for any economy, but that Chinese travelers are especially important. According to a U.S. Travel study, Chinese travelers spend $7,200 per trip to the U.S., far above the overseas average of $4,500 per trip.
Officials with the Asian American Hotel Owners Association applauds the new 10-year visa policy between the United States and China, as it will boost tourism and strengthen the economy.
"AAHOA is an enthusiastic supporter of international tourism, which creates jobs and gives our economy a major boost," AAHOA Chairman Pratik Patel said. "We applaud this new visa policy, and we are confident that it will help strengthen our economy while meeting the increased demands of international visitors."
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
