Reconstruction: Key to Social Responsibility Risk Assessment for Tourism Investment Projects†

Large-scale tourism investment abroad refers to the economic behavior of undertaking large-scale tourism investment projects abroad under the guidance of the host country or region government, with foreign tourism enterprise group as the main body. Characterized by large investment scale, long cycle and complex social influence, it has important use function and great social significance. In recent years, Chinese enterprises have invested more than $100 billion in 10 large-scale tourism projects abroad. The strategy of investing large-scale tourism projects abroad has become one of China’s important strategies to help developing countries improve their people’s livelihood, provide assistance and fulfill its international responsibilities [1]. The proposal and implementation of the Belt and Road (B&R) Initiative provides an opportunity for the rapid development of China’s large-scale tourism investment project abroad. In 2017, Dalian Wanda Group invested as much as $10 billion in Malaysia’s Dama City tourism investment project and India’s Haryana Industrial City project. In Paris, China invested more than 3 billion euros in a large-scale cultural tourism project. However, the loss rate is as high as 90% and the losses run into hundreds of billions of dollars. The $3.6 billion Bahamas resort project conducted by China State Construction Engineering Group Co. Ltd., which would have been completed in 2015, went bankrupt due to labor issues. A 180-milliondollar project in Cancun, Mexico, went bankrupt in 2014 as a result of environmental problems of mangroves and the protection of bird homes. These failures make the complex problem of risks of Chinese large-scale investment project abroad once again a hot topic and a global challenge theoretically and practically.