Scenic Area Of ​​financing Research

Sustainable development is always the core of Tourism developments. It means not only ecological development but also economical and social development, in which financing methods play the important role. As Tourism grows and more development has been done all over the country, the shortage of financial resources has become a more and more important issue within the industry. For every developing country, financial resources are always scary. The thesis analyzes financing methods with aim of the healthy development of the whole industry.Scenic spot area with historic relics and natural beauty is the key part of our Tourism industry, whose management, protection, development have close relations with many fields, such as society, economy, culture and nature. Its development is also affected by many factors. All these make it as typical objective to analyze.Based on theories of Tourism, Finance and Industry Economy, this thesis analyze the mostly utilized traditional financing methods in Tourism, which include renovation in share-holding, going public, issuing bonds and bank financing. This thesis also evaluates some new financing methods that have great potential, such as project financing and industry funding. At the meantime, the thesis analyzes and makes suggestions on options of the re-engineering and optimization of the financing structure of Tourism based on the theory of capital cost and financing structure. Each financing method has its own characteristics as well as pros and cons. The key to survive and obtain enough financial resources for all tourism businesses that are in different growth stages is to choose the appropriate financing method.The characteristics of financing through Capital Market that differentiates Tourism from other financing methods is that it "curelessly" presents/exposes the expected revenues and risks of investment in Tourism in the Capital Market. The mismatch between the risks and revenues has been better controlled. Only based on enough information can both parties of investment become really rationalized. In every stage and every phrase, Tourism has its own characteristics and emphasis. Above all, keeping Tourism growing continuously shall be kept as basis of the industry. The long-term growth of the tourism scenic area shall always be focus point during financing. The friendly financial environment that will be able to sustain the continuous growth of the tourism scenic area will not be able to come into shape until a beneficial financing mechanism that consists varieties of financing methods has been setup.