Tourism input on the rise

By Yang Feiyue | China Daily | Updated: 2018-06-09 09:46
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The Beijing-based ShanHai Cultural and Tourism Group has invested in the building of tourist destinations in Hebei province's Xinglong county. [Photo provided to China Daily]

China's rapidly growing market in tourism has attracted investment from various fields, Yang Feiyue reports

Chinese tourists' travel enthusiasm has spurred businesses to step up input in tourism development.

The country's tourist numbers and tourism income both came out on top last year, followed by India, the US, Japan and France, the Beijing-based World Tourism Cities Federation reports.

China's domestic travel market received more than 5 billion visits, mostly by the Chinese, in 2017, up 12.8 percent as compared with the previous year and 69 percent with 2012, according to the former National Tourism Administration (now part of the Ministry of Culture and Tourism).

Chinese tourists paid 270 million visits abroad last year, up 3.7 percent year-on-year.

Tourism has contributed 9.13 trillion yuan ($1.42 trillion) to China's GDP, said the administration.

The country's focus on tourism has been demonstrated by the merging of the tourism and culture authorities in March.

"Seen from the long run, the Chinese market has strong competiveness, thanks to the culture and tourism integration," said chairman adviser of CITIC Ltd Zhao Jingwen at a global tourism investment summit that gathered more than 500 Chinese government organs, financial institutes and scenic spots in late May.

"We have seen a group of big enterprises rapidly making inroads in the tourism industry," Zhao said, adding that the top five real estate businesses and nine out of the top 10 internet giants have invested in tourism.

At the forum, the Beijing-based ShanHai Cultural and Tourism Group signed a strategic agreement with the Industrial and Commerical Bank of China and the Agriculture Bank of China, as well as multiple local governments and scenic spots to expand its presence in the tourism market.

The Beijing company has invested in a sport town in Hebei province's Xinglong county, a natural resort in Guizhou province's Anshun city, and a golf facility in Hainan province's Haikou city over the years, and plans to expand its tourism business, in addition to its real estate, financial and medical involvement.

"The full-on cooperation is to develop a sound industrial chain model featuring travel agency, scenic spot, hotel and transportation," says Wang Gaochao, chairman of the company.

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