Business Opportunities in the Tourism Sector in China

The-Main-Tourism-Attractions-in-Western-China.jpgChina is one of the most visited countries in the world. Tourists enjoy its rich culture, beautiful landscapes and are attracted and intrigued by the different cultural customs. While visitors have long preferred the eastern and southern provinces, western China is becoming more popularTravel companies in China gamble on the region’s mystery and the historic ancient trade routes to attract more visitors to the country.

Rich heritage in western China

The new Silk Road Economic belt is the reason why western China has become more popular in recent years. Provinces like Gansu in the northwest are trying to make their cities better known to visitors: Tianshui or Dunhuang are two of the icon cities of the province. The latter is located at the edge of the Gobi desert and offers spectacular views which seem to be pleasing for tourists despite of the heat. The Mogao Caves in Dunhuang are also a popular touristic attraction.
After seeing the potential of these areas, local Chinese governments are putting more effort into investing in tourism and improving the existing facilities and infrastructure.

Opportunities for travel companies

Chinese officials have already picked up on the immense touristic potential in the region and are looking for ways to encourage development and financing for the tourism industry. The head of the Gansu region local tourism department says that nearly 10 million Yuan (some 1.57 million US $) will be used to help fund a new joint venture with the Cultural Industry Development Group in the region. The goal is to help develop Tianshui’s tourism potential.
This joint venture will also serve another important purpose: help fund small companies in the tourism industry. Officials believe that the cultural sector has been going through a troublesome time, especially due to lack of financing. This joint venture will help ease that burden and allow companies in china to gain access to the capital they need to finance their projects. Apart from capital, tourism companies in western China already have everything else they need: an abundance of historical sites and resources which are at their disposal.
If you would like to invest in tourism contact our law firm in China for details about company incorporation and the laws regarding foreign investments.