Tech-economic Analysis On Tourism Investment Project

The tech-economic analysis of tourism investment project is the need of modern economic development and the problem to be solved urgently. Comparing with general investment project, tourism one has greatly different characteristic in that the latter usually has much more uncertainty than the former, which makes decision theories and evaluation methods on tourism investment project different with conventional one. In this paper, the appraisal on tourism project and the problem of investment decision were systemically studied. A newly analytical framework on theory and specific methods were proposed.Tourism is one of an important industry in national economy. The functions of tourism are represented as induction effect forward and fluctuation effect backward. In this paper, first, input output method was applied to interpret tourism's supporting effect on other departments of national economy and tourism's dependency degree on other industry. Secondly, degree of influence, inductance and association coefficients were accounted. Thirdly, association effect and dominant position of tourism among industrial clusters were quantitatively analyzed.In this article, systematic framework and theoretical method of tech-economic analysis on tourism investment project were proposed. Compared with general investment project, tourism one has great uncertainty, which includes influencing factors of government, society, economy, tourist, cost input and output, as well as the impact of management strategy and competitor, etc. Therefore tourism investment project has great investment opportunity value. So in this paper, some conflicts and problems on tourism investment project were analyzed for project's characteristics and its development. Several design patterns on tourism investment were proposed and tourism investment's future direction and emphasis were pointed out. Based on the research of capital structure theory, tourism project's financing structure and the evaluation of project's efficiency were first established and then appraised. The mode of development on tourism investment fund's financing and its operation were analyzed at last. Cost-benefit analysis for tourism investment project is the foundation of its tech-economic analysis. In this paper, income pattern of tourism investment project was systematically discussed. Based on the survey of different methods on the appraisal of economic profit, tourism investment project's index system was built up. The profit of listed tourism corporations in China was empirically analyzed using factor analysis method. Tourism investment enterprises'capital recomposition and value growth were discussed in this article. Additionally, some related problems according to environmental problem aroused by tourism project, pricing strategy on environment were discussed in order to constitute compensation tax for ecological construction and tax & fee of environment.The important part on the paper is the analysis of investment decision on tourism project. First, because of the uncertainty, irreversibility and competitiveness of tourism investment project, not only the disadvantage of traditional decision-making methods were analyzed, but also real option and option game theories were introduced into the appraisal on tourism investment project. Secondly, the pricing model of option game theory on tourism projects was established. Thirdly, optimal investment of conversion value on the relationship between organizational fixed costs and its volatility was studied on tourism project which have the characteristic of convertible option. Finally, the conceptions of security, safety science and cultural ideas were introduced into the study on tourism crisis management. An innovative classification of tourism destination management and tourism enterprises'crisis management on tourism crisis management was introduced. At last, the crisis management strategies and tourism project's crisis management mechanism were proposed and discussed.