China’s investment in tourism booming

China’s investment in tourism is expected to boom to 3.2 trillion yuan this year according to industry providers at the recent China Tourism Projects Investment Conference in Beijing.

The investment focus is real estate as tourism property development amounts for 260 billion yuan, which is more than 20 percent of the total real estate investment.

Since last year up to 60 tourism funds have emerged, where there was no such funds in 2010.

International Tourism Investment Association (ITIA) director general Wang Qi said his 200 million yuan tourism fund will be investing in areas other than property.

According to strategic planner for tourism projects, Chen Fang, tourism investment requires a substantial amount of money which investors have to wait some time on to see a return.

ITIA president Che Shujian commented on China's tourism revenue growth, saying for the past ten years it has experienced a double-digit growth rate annually.

“People's needs for tourism are getting diversified, shifting from pure sightseeing to more leisure-oriented,” Mr Shujian said.

Sourced: etravelblackboardasia