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China Tourism Industry
China Knowledge Press, Sep 2004, Pages: 376
A large middle class population with strong consumption power is emerging in China, especially in major cities. China’s outbound tourists reached 20.22 million in 2003, overtaking Japan for the first time. Putting aside the threat of Sars and other unexpected events, based on the current economic growth situation and the social development of China, China’s outbound tourism is poised to achieve a new growth peak.
Currently, there are approximately 15,000 natural, cultural and man-made places of attraction, above county level, in China. Presently, Hong Kong investors are the main participants in the establishment of tourist attractions in China. In 2001, Sichuan became the first province to propose renting out the operation rights of 10 scenic areas to foreign investors.
According to the plan by China National Tourism Administration, the number of inbound tourists, foreign exchange earnings from tourism and the domestic market size are targeted to have annual growths of 4%, 8% and 8%, respectively, in the next five to ten years.
It is also forecasted by the World Tourism Organization (WTO) that China’s tourism industry will take up to 8.6% of world market share to become the world’s top tourism industry by 2020.
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