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China’s tourism competitiveness on steady rise: research

Updated: May 18,2015 10:07 AM     Xinhua

BEIJING — China’s ability to attract tourists has been rising steadily over the past eight years, going from world’s 71st destination in 2007 to the 17th in 2015, according to a report by the World Economic Forum on May 16.

China’s current status as a major tourism destination comes from its exceptional natural and cultural resources. It also has very competitive prices, the report noted.

The tourism competitiveness report was initiated in 2007, when China ranked only 71st among world’s 141 economies.

Although China is enduring an economic slowdown, the travel industry still witnessed swift growth, pumping vigor to the whole market, said Li Jinzao, head of National Tourism Administration on May 15.

China’s financial institutions, including giants like China Development Bank, Industrial and Commercial Bank of China and China Construction Bank, will provide line of credit worthy of 1.6 trillion yuan ($262 billion) to the Chinese tourist service business in the next five years, Li said.

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