Tourism to spur Chinese GDP growth
Print Edition
CHINA’S tourism industry will play a growing role in the country’s economic growth, with direct investment in the sector expected to hit 3 trillion yuan (US$483 billion) in the coming three years, according to a tourism official.
Li Jinzao, head of the National Tourism Administration, predicted the direct investment would attract additional investment projects worth 15 trillion yuan during the period.
“China’s tourism will play an increasingly important role in boosting investment, consumption and exports,” Li said at a national tourism work conference held last week in Nanchang, capital of Jiangxi Province.
“Tourism is not just about consumption. Investment is also an important contributor to growth, and the tourism sector has a large demand for investment,” Li said.
Official data showed direct investment in the tourism industry hit 650 billion yuan in 2014, up 22 percent annually.
The growth rate for tourism investment surpassed the general investment growth rate for the tertiary industry by 5 percentage points.
Li predicted that rural tourism, small townships, large scenic spots, holiday resorts and online business would be key areas for investment during the three years.
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