China to Triple Spending on Tourism

China to Triple Spending on Tourism

China to Triple Spending on Tourism

China’s spending in the tourism sector is likely to 3X by Y 2020, to RMB 3-T (US$460-B).

China invested more than RMB 1-T in the tourism sector last year, an increase of 42% from one year earlier, Li Jinzao, head of China National Tourism Administration, said at the ongoing First World Conference on Tourism for Development.

The sector contributed 10.8% to GDP last year and created 10.2% of new jobs, according to Li.

Li expects the number of outbound travelers to exceed 600-M in the next 5 years.

Li said China plans to send 150-M travelers to countries along the Belt & Road in the next 5 years, whose travelling spending likely to top US$ 200-B.

Tickets for Shanghai Disneyland (NYSE:DIS) have been booked for the 1st 2 weeks after the theme park opens to the public on 16 June local sources said Thursday.

Tourists who want to visit the park can book tickets for later dates, according to Murray King, vice president of public affairs at Shanghai Disney Resort.

Sun Jiwei, vice secretary-general of Shanghai municipal government, said that emergency drills will be held to address potential risks given the large number of tourists.

The Shanghai Disney Resort, in Pudong New District, is Disney’s 6th resort destination worldwide.

Tickets for Shanghai Disneyland went on sale to the public on 28 March.

Regular price of admission is RMB 370 (US$56), while peak pricing for holidays and weekends is set at RMB 499. Ticket prices for the opening period from 16 -30 June are also RMB 499.

Stay tuned…



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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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