Chinese tourism investment is forecast to nearly double to about two trillion yuan (US$307 billion) within five years, a China National Tourism Administration report says.
Tourism investment will reach 1.25 trillion yuan this year, the agency said, citing an increase of 42% last year.
"We think tourism investment has huge potential with hot spots starting to spring up," the agency told Reuters.
It said sectors like online travel, cruising and sports tourism are big growth areas with more than half of the investment coming from the private sector.
There were more than 2,000 separate projects worth more than one billion yuan, said said Wu Wenxue, deputy director of China National Tourism Administration.
The country’s most high profile tourism project, Shanghai Disneyland, is scheduled to officially open next month, while ride sharing service Didi Chuxing just scored a US$1billion investment from Apple Inc.
