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Guam - It's not the China Visa Waiver Guam has long desired, but a newly announced visa agreement between China and the United States is considered a big step in that direction.


Guam Hotel and Restaurant Association board chairman Bartley Jackson says the announcement of a new visa agreement between China and the United States isn't just a great opportunity for the nation, but the people of Guam as well. "The extension of a tourist visa from one year to 10 years is going to increase exponentially the potential number of visitors we have - it's just going to be so much easier for Chinese visitors to get visas especially the long visas, then we become a great short hall destination, weekend destination, short getaway to literally of millions of Chinese," he explained,


On Veterans Day President Barak Obama made the announcement during an economic summit in China. Beginning November 12, the US and China reciprocally increased the validity of short-term business and tourist visas and student exchange visas issued to each other's citizens. "Of course, Hawaii is already doing 150,000 Chinese on an annual basis and we do 15,000," Jackson added. "We should be doing about 50,000 to 80,000, so this will certainly go a long way toward helping us get established in the market."


Jackson says if Guam can at least double its number of Chinese visitors, it would result in millions of dollars more to Guam's economy. He adds while this agreement is great news, Guam still needs the bigger prize - the Chinese visa waiver. "The only potential downside I see is I would hate to think that the federal government thinks they've given us enough and stops," he added. "I think Guam needs a china visa waiver to be successful and we hope this is a step towards that and not their endgame."


Jackson, who is also the president of Hotel Santa Fe Guam, says with the potential growth of Chinese visitors, Guam also has to consider the need for more hotel rooms.


Deputy administrator for the Guam Economic Development Authority Mana Silva Taijeron says as a result of meetings with investors, the island could see a pair of new developments in the near future, noting, "We did receive two letters of interest from some hotel investors because it's still the preliminary phase for our qualifying certificate program, we can't really divulge yet the names of these companies, but there is solid interest and actually steps have been taken for the purchase of some hotel properties on Guam and the development and construction of new hotel."


She adds GEDA believes this agreement is good news not only for the tourism industry but also bodes well for investment within the Asian and Chinese markets.