Spending by foreign visitors in the Midlands is set to rocket, boosting the local economy by more than £800 million a year by 2017, it has been claimed.

Annual visitor spending in the West Midlands is being predicted to rise by 28 per cent over the next three years, according to independent research, with Chinese tourists alone expected to up their spending by 76 per cent to £30 million.

The balance of nationalities who visit the region is also set for a shake-up, with tourists from the United Arab Emirates and Russia tipped to enter the top ten spenders’ league for the first time.

The findings are revealed the Barclays’ Tourist Dynamics report which predicts spending by foreign tourists in the region will reach £829 million by 2017, a 28 per cent increase from 2013.

A large part of the growth is expected to come from tourists from emerging economies, with spending by travellers from China and India set to soar.

Visitors from India are expected to increase their spend to £32 million by 2017, up from £19 million in 2013, while Chinese tourists are set to up their spend from £17 million in 2013 to £30 million in 2017.

The Barclays survey said the increase would be helped by loosening visa restrictions and that the number of visitors from India would rise on the back of the Air India service between Birmingham and Delhi, which was reintroduced in August 2013.

Although visitor spending pattern is set to change the top three spenders in the region will continue to be those from the US, Australia and Germany.

They currently occupy first, second and third places in the region’s top ten spenders table, though the rise in spending from Russia and the UAE will see Spain and Canada fall out of the top ten.

The West Midlands predictions mirror the national picture in terms of traveller spend, US visitors currently lashing out £60 billion in the UK each year.

The Barclays report estimates this figure, which currently represents 9.2 per cent of foreign visitor spend, will rise to £67 billion by 2017 – representing 8.1 per cent of the total. Other top ten spenders currently include France, Ireland, the Netherlands, Spain, India, China and Canada.

Canada is also predicted to lose its number 10 placing by 2017, with visitors from the UAE claiming ninth spot with an annual spend of £20 billion and Russian visitors spending £19 billion.

Ray O’Donoghue, managing director of corporate banking for Barclays in the Midlands, said: “We have a vibrant retail scene and wonderful visitor attractions, so it is no surprise visitor numbers are predicted to rise, but what we must ensure is that we maximize such opportunities and continue to market the Midlands as a “go to” destination both home and abroad.”

The West Midlands’ retail, leisure and hospitality sectors are those set to benefit from the increase in tourist spending.

Expenditure in the fashion retail sector alone is set to rise by 34 per cent to £126 million, with home retail expected to increase by 37 per cent to £32 million.

It is estimated spending on hotels, eating out and attractions in the region will rise by 28 per cent to £473 million in 2017.

By then it is thought overseas visitors will spend £170 million on eating out across the region, an increase of 28 per cent compared with 2013, with the spend on leisure attractions rising by 30 per cent to £72 million by 2017.

Spending on hotel accommodation will rise in the same period by 26 per cent to reach £231 million.

Barclays said the report presented Midlands with an opportunity to capitalise on increasing numbers of visitors with ever deeper pockets.

A Birmingham Airport spokesperson said its runway extension would boost the figures.

She added: “Destinations previously out of reach, including the Far East and the west coast of America, are now within direct range for the first time thanks to our recently extended runway, meaning Birmingham Airport is set to play an even bigger role in helping the Midlands to access emerging economies across the globe.”