Possible benefits to the Chinese tourism and hospitality industry

On the 11 December 2001 China became a full member of the World Trade Organisation
(WTO). It was the final step in a long chain of events, which preceded the full membership of
the communistic country. As China is the second biggest trading power in the world with a GDP
of US$ 4.5 trillion, it could no longer be ignored by the western countries, and more and more
other nations, especially in Europe, increased their bilateral relations with China. This country in
the Far East has not only one of the oldest cultures in the world, but has also one of the biggest
and most profitable markets to become accessible for western companies. With a population of
1.4 billion people China has also the highest population on this planet. Its main economic factors
are agriculture (rice, soja), natural resources (coal, gold, oil) and industry (garment, metal). But
tourism is playing a more and more important role for this country. With the granting of the
Olympic Games 2008 in Beijing, the Chinese government expects a major boost in the
hospitality sector over the next 10 years. [...]