The US Department of Commerce, International Trade Administration, Office of Textiles and Apparel (OTEXA) is organizing a trade mission to China and Singapore March 18-26, 2009. US companies involved in the manufacture and sale of contract, fabric, furnishings, hospitality, technical textiles and associated products and services may send representatives on the mission, which will provide opportunities for participants to meet potential buyers, agents and distributors and establish export representation for US products.
The mission will include visits to Hong Kong including Macau, Hainan Island and Singapore — all locations where there is significant expansion of hotel capacities and casinos to meet the demands of rapidly growing tourist and business travel markets.
According to World Bank estimates, by 2015, new building construction in China will account for half of all such construction globally, spurred in part by planned events such as the 2010 World’s Fair and Asian Games, which are projected to generate growth in the business and tourist travel market totaling $10 billion.
In Macau, hotels and casinos are expected to expand by 300 percent during the next five to eight years; and Hong Kong’s hotel room inventory will see a 16-percent expansion to 66,000 rooms by 2012 from 57,000 currently. Hainan Island is being developed as an “international-standard island resort” with duty-free shopping to attract more than 1.5 million tourists spending more than $1 billion by 2013, with those numbers increasing by 2020 to 5 million tourists generating $3.5 billion in revenues.
In addition, Singapore hotels are expected to double the number of rooms to 74,000 by 2015 from 37,000 by 2010 — itself an increase of 8,850 rooms over the current inventory.
The mission will accept representatives from eight to 10 US companies selected from a pool of applicants that may include both companies already doing business in China and Singapore as well as companies wishing to initiate business relationships in those countries. Recruitment for the mission will close February 9.
The mission will include visits to Hong Kong including Macau, Hainan Island and Singapore — all locations where there is significant expansion of hotel capacities and casinos to meet the demands of rapidly growing tourist and business travel markets.
According to World Bank estimates, by 2015, new building construction in China will account for half of all such construction globally, spurred in part by planned events such as the 2010 World’s Fair and Asian Games, which are projected to generate growth in the business and tourist travel market totaling $10 billion.
In Macau, hotels and casinos are expected to expand by 300 percent during the next five to eight years; and Hong Kong’s hotel room inventory will see a 16-percent expansion to 66,000 rooms by 2012 from 57,000 currently. Hainan Island is being developed as an “international-standard island resort” with duty-free shopping to attract more than 1.5 million tourists spending more than $1 billion by 2013, with those numbers increasing by 2020 to 5 million tourists generating $3.5 billion in revenues.
In addition, Singapore hotels are expected to double the number of rooms to 74,000 by 2015 from 37,000 by 2010 — itself an increase of 8,850 rooms over the current inventory.
The mission will accept representatives from eight to 10 US companies selected from a pool of applicants that may include both companies already doing business in China and Singapore as well as companies wishing to initiate business relationships in those countries. Recruitment for the mission will close February 9.
