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Tibet's economy booming: China

business Updated: Dec 24, 2010 16:51 IST

Tibet's economy is booming and has achieved a double-digit growth for the 18 consecutive year with the annual GDP estimated at USD 7.6 billion, Chinese authorities claimed on Friday.

Tibet maintained steady economic growth in 2010, with the annual GDP estimated at 50.6 billion yuan (USD 7.6 billion), Padma Choling, a top government official of the province said at the annual economic work conference at Nyingchi Prefecture.

The growth was due to the booming secondary and tertiary industries, which reported 14.8% and 12.6% year-on-year growth respectively, state-run Xinhua quoted him as saying.

Tibet reported USD 580 million of foreign trade in the first 10 months, up 83.7% on the same period in 2009, he said.

Despite restrictions, tourism too is booming as figures from the local tourism bureau showed Tibet received an estimated 6.82 million tourist arrivals in 2010.

Foreigner have to obtain special permission has to be obtained to visit the province. Earnings from tourism totalled at 6.93 billion yuan registering 32.8% increase from 2009.

Hefty investment from the central government was also a major engine driving Tibet's economic growth, Choling said.

As a result of the economic boom, the net per capita income of Tibetan farmers and herders was estimated to reach 3,990 yuan, up 13% year on year, he said.

Tibet's strong growth would continue next year, with the region likely to achieve at least 12% GDP growth and 13% per capita income growth for farmers and herders, Zhang Qingli, secretary of the Communist Party of China Tibet Autonomous Region Committee said.