China

Foreign Investment Eyes Chinese Tourism Market

chinatoday.com

(TVLW) - At present, annual foreign investment estimates of RMB30 billion to RMB40 billion account for 25% of total Chinese tourism capital.

The National Tourism Administration of China said that during the period of the 11th Five-Year Plan, China plans to build 12,697 tourism projects with more than RMB1.78 trillion of investment, of which over RMB138.5 billion are from foreign enterprises.

According to media reports, Chinese tourism industry will maintain 10% of year-on-year growth, and individual tourism consumption will increase by 9.8% annually while corporate, group and business traveling grow by 10.9%. By 2010, China's total tourism revenue will account for 8% of its GDP.

Foreign investments in mainland tourism sector are mainly from 27 countries and areas, among which, Hong Kong, United States and Britain made the top three, respectively occupying 50%, 11% and 9% of total foreign investment. The attractive areas for foreign business investment are still focused on the eastern regions of China.

chinahospitalitynews.com

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