Chinese investments in tourism to reach 2 trillion yuan by 2020

Almaty. December 15. Silkroadnews – Average annual growth of direct investments in China’s tourism industry makes 20%, by 2020 the total investments are expected to reach 2 trillion yuan, China Internet Information Center writes.

According to China’s National Development and Reform Commission and National Tourism Administration, tourism’s contribution to the national economy of the country has increased significantly.

By 2020 the total consumption in the tourism sector is planned to reach 7 trillion yuan, with tourism contributing more than 10 percent of annual economic growth. The total employment in the tourism sector is expected to reach 50 million people or 10% of total employment in the country. Every year about 2 million Chinese in need are expected to get rid of poverty through tourism development.

Despite the huge market demand and great potential for development of recreational tourism China has yet to raise the level of infrastructure and public services in this field, the document says.