Investments in tourism sector grew 42% in China last year

Almaty. May 16. Silkroadnews – Investments in tourism sector grew 42% to $154.3 billion in China last year, the information portal of China Daily reports.

“China’s tourism sector got 1.01 trillion yuan ($154.3 billion) of investments last year, which is 42% higher compared to the previous year,” the publication says with reference to the China National Tourism Administration.
It is noted that this year the investments in tourism could reach 1.25 trillion yuan, and then grow almost twice to 2 trillion yuan by 2020.

The investments the private companies made in the tourism industry in 2015 are reported to stand at 577.9 billion yuan, accounting for 57.4% of the total investments volume. Number of 1-billion-yuan-worth projects made 2 057, i.e. 62% of the total number of projects. As a whole the projects in case have been gathered 630.5 billion yuan. Number of projects of 5-billion-yuan-worth and 10-billion-yuan-worth made 27.4% and 15.9% respectively.

According to the publication, the amount of investment in the Shanghai Disney Resort, Shandong Double Island Bay Resort and Tangshan Bay exceeded 20 billion yuan.

The main areas of investment are the rural tourism, online travel services, cruises and sports tourism. For the future more capital is expected to be attracted to the development of resorts, intellectual, cultural and medical tourism.