Chen Dong, Secretary-General of WTCF and Director-General of Beijing Municipal Bureau of Culture and Tourism: Tourism will Remain the Most Attractive Sector for Investment During the Post-epidemic Era

During the Tourism Investment and Financing Conference, Chen Dong, Secretary-General of WTCF and Director-General of Beijing Municipal Bureau of Culture and Tourism, delivered a speech.

Release time : 2020-09-06 17:39:34

source : WTCF

, customized, and low-density travel had become the most important module of travel during the post-epidemic era. International tourism’s organizational models, business activities and modes of management are set to undergo dramatic changes. Tourism investment trends in the post-epidemic era reveal that although the industry has been heavily impacted, core products, service systems and the basic need for global tourism remain. In other words, it’s apparent that the sector’s long-term flourishing trend has not reversed, and that tourism will remain the most attractive sector for investment during the post-epidemic era.

Global tourism investment has been growing rapidly, at annual rates as high as 13%, since 2005. In the Asian-Pacific region in particular, total tourism investment in 2019 reached 120 billion US dollars, accounting for 38% of global tourism investment and greatly contributing to the industry’s rapid development. “A favorable investment environment is key to promoting the revitalization of tourism,” Chen Dong said in his speech. “Increased investment is a critical measure for achieving this revitalization.” Chen also called on government and global cities to implement more favorable and supportive policies, such as tax reductions, exemptions, financial subsidies and financing guarantees, to formulate more specific tourism market access standards, and to create better external conditions for tourism investors’ participation in the creation and development of relative resources, markets, and products. Tourism enterprises should strengthen international cooperation, establish mechanisms via which upper and lower streams of the sector could share risks and benefits across regions and cities, while creating an ecosystem in which sector players could cooperate to ensure their survival during the aftermath of the COVID-19 epidemic. Facing world travel’s post-pandemic developmental needs, global