According to US Department Commerce data, Chinese visits to the U.S. are forecasted to increase at an annual average rate of 14.4% over the next five years (2017-2021) and will increase to more than 5.7 million visitors by 2021.
Chinese have surpassed Europeans and other nations as the highest visiting nation and that is an excellent trend for the tradeshow and event business. Many of these visitors are traveling to the U.S. on business and many are exhibiting and attending trade shows and conferences.
The influx of the number of Chinese/Asian exhibitors over the past three years has been staggering, relatively speaking. Though there are currently no official statistics that we could find: it is estimated that Chinese/Asian exhibiting companies have increased by nearly 25% over the past three years.
Chinese attendance to tradeshows and conferences has also increased by more than one- third and these numbers are expected to grow exponentially over the next three years as well. 10% of all Chinese visitors stated that conventions and conferences were one of the primary reasons for visiting.
(Chinese Exhibitors in 2018 Boston Seafood Show)
Interestingly, the number of U.S. exhibiting companies who are looking for new market opportunities in China has also grown substantially over the past three years. Many of these companies do not have any presence whatsoever in China …but that doesn’t stop them from opening a gateway to Asia.
Many have hired companies like 3L Corporation headquartered in Framingham MA. 3L Corporation is one of the world’s preeminent tradeshow and event marketing services company. For nearly two decades, 3L have played a crucial role in assisting their clients to maximize their investment in all phases of “Experiential Marketing;” whether in the U.S. and throughout Asia. 3L has provided the gateway resources to allow companies in the U.S. to exhibit successfully in China and Chinese companies to exhibit in the U.S.
(3L Corporation’s Honorable Clients)
If you are a tradeshow/event organizers or event marketing company, the China/Asia market should be a part of your overall business strategy. Destinations like Boston are reaping significant benefits from the increases in Chinese business. 240,000 Chinese travelers spent nearly $1.5 billion dollars last year in Boston and consequently the tradeshow and conference business has experienced a significant increase year-on-year.