How much impact will the epidemic have on the cultural tourism industry，Where will China’s cultural tourism market go in the future，How cultural and tourism companies should respond？Three years of pandemic，The economic difficulties and the sluggishness of the industry have left us at a loss，It seems that everything will slowly get better after the epidemic is over，But is this really the case?。The possible short-term false prosperity of cultural tourism consumption may obscure the industry’s vision、Influence judgment，What is the real trend of the cultural tourism market in the short, medium and long term，Need to judge from the underlying logic。

From the perspective of historical development，The world is entering the darkest moment in the early stages of the fourth industrial revolution，Breakthroughs in basic science and technology face bottlenecks，Finance enters the end of long-term debt cycle，Intensified credit default risk，Industrial upgrading faces technology、A series of counter-cyclical challenges in capital and markets。Then，Following this is the intensification of the zero-sum game in the anti-globalization market，Deceleration of social and economic development。China has also entered the post-rapid development stage，Economic Development Method、Product development methods、Project operation methods need to be transformed。

In terms of cultural and tourism consumption，Through this dark night、Critical moments across the cycle，Industrial upgrade stagnant、Shrinking economic development，Also brings consumer demand、Development form、Structural changes in operating methods and other aspects，Promote changes in the underlying development logic of the cultural tourism industry。That is, from a macro perspective，The high speed of cultural tourism industry powered by capital、Large scale、Crazy asset-heavy development，Shift to high-quality cultural tourism products that prioritize operations、Refined、Product innovation combining light and heavy products；Microscopically speaking，Cultural and tourism enterprises must survive、Keep the fire，We must also preserve our development potential、Change the way of innovation，Investing in Construction、Construction、While operating integrated innovative product capabilities，Trying to explore subdivisions、New products with multiple themes、New consumption。

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Looking at the development process of all industrial revolutions，Essentially, they are a combination of scientific and technological innovation and entrepreneurial business applications，With the help of modern financial means，Thus promoting industrial upgrading、Market Development，Strong demand，Stimulate entrepreneurs to innovate cultural tourism products，Thus promoting the prosperity of the cultural tourism market。

For example，During the First Industrial Revolution，James.Watt invented the steam engine，Laid the technical foundation of the industrial revolution，Matthew.Bolton and a large number of industrial manufacturing entrepreneurs combine this technology，In the steam engine spinning mill、Rail transportation、Ship shipping and other aspects have widely promoted the commercial application of steam engine related industries，Opening the first industrial upgrading of the steam industry。

Industrial manufacturing involved、Transportation、Financial Instruments、Upstream and downstream development of catering and commercial supporting industry chains，Created a large number of industrial manufacturing industries、Service industry chain enterprise，Under development of new products、New services at the same time，It has also hatched a large number of middle class and mass sophisticated consumer groups，His income continues to increase、Cultural awareness continues to improve，Then continuous upgrades are born、Diverse themes、Diversified cultural and tourism consumption needs，Thus forcing the cultural tourism market to innovate products。

As demand continues to explode，A keen entrepreneur sees business opportunities，In turn, a large number of innovative cultural and tourism products have sprung up。For example，to Thomas.The organization method of group travel represented by Cook first appeared in the UK。Revolving around this form of tourism，Produced many peripheral products such as transportation、Accommodation products、Diversified product formats such as payment methods；

The second internal combustion engine、Electricity Industrial Revolution，And the third computer Internet revolution，Aviation Manufacturing、Aviation Manufacturing、Computer and Internet industries are developing and growing，It also incubated a large number of manufacturing industries、Service industry middle class，Also due to the latter’s income increase、Cognition improvement，Born more diverse、Segmented cultural and tourism consumer demand。

At the same time，Upgrade based on this requirement，And previous industrial revolutions、Highways developed through industrial upgrading、Railway、Aviation Network、Payment System、Complete public safety and health infrastructure，The conditions for cultural tourism innovation are complete。Many European and American entrepreneurs are innovating products，The cultural tourism market has also undergone earth-shaking changes，Theme Park、Resort、Chain hotels and other segmented cultural tourism products have emerged and grown。

For example，American entrepreneur Walt.Disney，Keeping insight into market demand，That is, a large number of middle-class families incubated by industrial upgrades，Their consumption needs cannot be met，Most of the existing products on the market are mechanical riding parks，Lack of topic IP、Lack of family parent-child entertainment products and services。With the help of animation、IP theme of the film industry、Scene construction、Special effects technical resources，Human resources advantages，Develop entrepreneurial spirit，The famous Disney theme park was innovatively developed around the consumer needs of middle-class families。

Another example，Gerard of Europe·Blitz、Gerrard.Bremond，They also have insight into the subtle changes in market demand，That is, the large number of middle class incubated by industrial upgrading supported by the post-war Marshall Plan，The demand for cultural tourism consumption has been refined again，To Binhai、Skiing、Forest and other themed leisure vacations、One-stop service and other consumption，With stronger demand，But the market products are still traditional 188bet online sports betting inns、Hotel functional accommodation products。Then，They rely on their own organizational resources、Industrial Resources，Innovatively developed Club Med vacation products、Sun Season destination vacation products, etc.。

二、Cultural tourism development and consumption driven by industrial upgrading have financial and economic cycle attributes

Industrial upgrading promoted by the industrial revolution，The rising or accelerating period is often accompanied by the loose period of financial credit and economic cycle、Prosperity period，With the help of financial means，Carry out procyclical industrial upgrading and expansion behaviors with financial credit attributes，Thus promoting the development and consumption of cultural tourism。Whether it is the expansion of steam spinning mills or trains、Corporate bonds for railway construction，Or an internal combustion engine car、Aircraft Manufacturing、Bank loan developed by Atlantic Cable, Telegraph and Telecommunications、Equity Financing，Or a modern computer、The Internet and many e-commerce based on it、Venture investment and modern financial tools for the development of digital technology enterprises，It is inseparable from the support of financial credit。Similarly，Cultural and tourism companies are no exception，Traveler’s Checks from American Express，Thomas Cook’s coupons，Traveler’s Checks from American Express、Credit card of Franklin Bank of America、Paypal online payment，Still on the product development side，Bank loan、Corporate Bonds、Primary market venture capital、Secondary market equity financing、Reits real estate trust and other instruments，All are taking advantage of procyclical financial easing conditions，Promoted the development of cultural tourism projects，It also supports various consumer behaviors in the rising cultural tourism market through various financial instruments。

We can observe，Whether it was during the first steam industrial revolution，British travel agency product form innovation，The American cultural film industry during the second electrical industrial revolution、Theme Park Industry、Hotel Industry、Leisure and vacation industry incubation，Still during the third computer Internet industrial revolution，Segmented theme parks in the United States、Entertainment complex business development, etc.，All based on the Industrial Revolution、The east wind of industrial upgrading，Depend on market prosperity、Strong segmented consumer demand，And with the help of financial capital，Procyclical development behavior of development。

Whether it is Reits financing in the American accommodation industry in the 1960s，Still 80、Financial financing of theme parks + small town resort properties in the 1990s，Or venture capital for hotel chains，They all belong to different types of financial forms。Leveraging on the strong cultural and tourism consumer demand、Prosperous market environment、Loose financial environment、Financial easing，Entrepreneurs can boldly focus on needs、Develop products，Relying on the continuously expanding middle class、Continuously increasing consumption dividends，Get the maximum economic benefits from innovative products。

For example，We observe the period of the third industrial revolution，Computer Internet in the United States、Focus of development of aerospace industry and other industries，As industry moves from the Rust Belt to areas such as Detroit，Turn to West Coast Los Angeles、South Coast Florida and other areas later called the Sun Belt，Industrial Upgrading、Financial easing，Not only hatches a large number of middle class people，It also stimulated the vigorous development of the cultural tourism industry。Universal Studios Los Angeles、Disneyland Disneyland Theme Park Community in Orlando, Florida，All during this period，Accelerate with industrial upgrading、Expansion of the middle class、Easy financial credit，The result of rapid expansion。

The various stages of the debt cycle Source: Rui.Dario，"Debt Crisis"，2021

Debt has cyclical properties，It is highly correlated with the boom and bust of the economic cycle。In short，Early in the debt cycle，Accelerating industrial upgrading、The economy is improving，The loosening period of financial credit is conducive to cultural tourism development、Innovation，In the middle and late stages of the debt cycle，Industrial upgrade slows down、Economic Depression、Financial credit crunch，Unfavorable for innovative development。And the length of this cycle，according to Rui.Judgment of Dalio and other financial industrialists，About 75 to 100 years ago。

To be specific，Development of cultural tourism products，With development funds、Long return period、Features such as the need to balance long-term and short-term returns，It is an industry in great need of continuous upgrading、Easy financial conditions、Industries with good economic development。In short，Good industry、Credit Loose、High income、Expected to be good，Cultural tourism product development can lead to sound financing、Healthy Operations、Expected sustainable earnings。

Therefore，In the rising period of industrial development，Generally accompanied by loose financial credit，That is, early in the debt cycle，Rapid development of cultural tourism products、Rapid development with financial power、New product、New business formats emerge in endlessly。But，In the stagnation period of industrial upgrading、Financial credit crunch period，That is, the middle and late stages of the debt cycle，There is insufficient demand in the cultural tourism market in most areas、Project credit financing difficulties、Short-term monetization problem、Many challenges including tight operating cash flow。At this stage，It is also a period of market structure optimization and adjustment，Concentrate on innovating new products、Control the pace of development investment、Continuously optimize product operation quality，For a better future environment、Try and prepare for product innovation after demand recovery。

For example，Apply for bank loan by asset mortgage。In industrial upgrading、Economic Rise、Early stage of debt cycle，Asset value continues to increase、Loan interest rate is low、Easy financing conditions、Strong market consumer demand。Therefore，Hotel、It is easier for cultural tourism products such as theme parks to obtain bank loans with lower interest rates，To start project development。To be completed，As assets appreciate and cash flow returns increase，Project value continues to increase。The price of asset realization and the operability of continuous financing development have also been greatly improved。Similarly，Apply for a bank loan using the cash flow reset method，As consumer income continues to increase、Credit consumption interest rate reduced，The consumer market continues to expand、The expected cash flow income of cultural tourism projects will continue to increase，The loan amount and the possibility of approval are also increasing。Others such as asset securitization financing、Venture capital equity financing, etc.，The underlying logic is treated as the same，Everything will appreciate with the asset value、Improving 188bet sports betting app download cash flow，The possibility of obtaining financial support and preferential interest rates is greatly improved，They all value the procyclical appreciation of assets and sustained cash flow returns，Similarly vice versa。

Take this，From the above social and economic development process，The law of debt cycle development，Observe the logic of industrial revolution promoting cultural tourism innovation，ieIndustrial Revolution (Scientific Breakthrough、Technology for commercial use)——Procyclical Finance——Accelerating industrial upgrading——Market prosperity continues——Cultural tourism product innovation。We have also come to the following conclusion: every industrial revolution triggers industrial upgrading，The city will promote cultural tourism product innovation、The market is booming；Every cultural tourism market development，They also need support from industrial upgrading、Financial credit support。

Therefore，Mid-late debt cycle、Mid-late debt cycle、Financial environment tightening stage，Development of cultural tourism products、Innovation，There will also be huge changes。That is, shrinking market demand、Project development slows down、Product adjustment to adapt to new needs、Operations focus on cash flow and differentiation。

Private families in various countries、Corporate debt、Loan、Bonds to GDP weight
Source: IMF (International Monetary Fund，International Monetary Fund) official website database，2022.12

Private families in various countries、Corporate debt、Loan、Bonds to GDP weight
Source: IMF (International Monetary Fund，International Monetary Fund) official website database，2022.12

Private families in various countries、Corporate debt、Loan、Development trend of the weight of bonds in GDP
Source: IMF (International Monetary Fund，International Monetary Fund) official website database

Present，Cultural tourism market development、The environment for product innovation is deteriorating。According to the world’s top private equity funds“Bridgewater”'s founder Rui.Dario’s judgment，The current global debt cycle has peaked，Will enter the contraction period，Triggering economic recession。According to the Institute of International Finance's "Global Debt Monitoring Report" and the 2022 global debt statistics released by the IMF，The current global debt level has reached 303 trillion US dollars，The most in history，Private household and corporate debt as a share of GDP is 247.71%，The highest level since 1950。According to statistics from the official website of the International Monetary Fund，American Family、Corporate debt、The ratio of loans and bonds to GDP is 159.12%，China’s data is 193.59%。The latter’s residents’ deposits will increase by 15 trillion yuan in 2022，One leaf can tell that the contradiction between economic pressure and hedging needs is gradually troubling consumers and producers。

3. China’s cultural tourism market is facing structural adjustment

The development of China’s modern cultural tourism market，Has enjoyed the dividends of the world’s three industrial revolutions and related industrial upgrading。We can use this to join the WTO，Utilizing global talents、Technology、Finance、Market，A compressive modernization process that has been rapidly experienced for more than 40 years and has not yet been completed，It is also the industrial revolution that Europe and the United States have experienced for more than 200 years、Industrial Upgrading，Thus promoting consumption increase、Most paths of cultural tourism development、Content。

Professor Wen Yi in "The Great Chinese Industrial Revolution"，Systematically explains why China can successfully complete the transformation of the intermediate stage of industrialization，The fundamental reason is that my country’s vast consumer market has laid the foundation for light industrialized production and sales，Also by accumulating capital、Cultivating talents、Expanding the market，Provides technology for the upstream and downstream development and industrial upgrading of the light and heavy industry chain、Funding and talent guarantee。

But，It overlooked one point: regardless of the technological breakthroughs of the three industrial revolutions，Still an entrepreneur is upgrading the industry、Commercial application of cultural tourism innovation，China relies on the technological achievements of the world’s first-mover countries、Financial means、Business Model、Market Network、Product model，Imitation、Copy，This is actually an arbitrage process based on imitation。In order to develop a huge economic scale，Incubated a large number of middle class and mass refined groups，Cultivation of my country’s business and government affairs reception and tourism，Touring for sightseeing，To the large cultural tourism market where quality tourism and themed leisure vacations coexist and develop。

But，We once studied、Imitate、Leveraging European and American countries，Although the third industrial revolution and related industrial upgrading have been completed，But the future prospects are facing huge uncertainty。Such as mobile Internet、Big data、Cloud、Internet of Things，They are all extensions of the basic technologies of the third industrial revolution，The basic technology of the next industrial revolution is far from being broken through。Really clean and controllable nuclear fusion energy，Commercial use is still far away；Quantum computing is still in the process of exploration，There is still a long way to go before reaching the requirements of Shure's algorithm；The time for artificial intelligence to reach the singularity has been repeatedly delayed。

current，The world is in the dark night of the fourth industrial revolution、Bottleneck period of industrial upgrading、The contraction period when the debt cycle reaches its peak，and the World Bank、The recession period of economic development predicted by some economists。The consumption structure of cultural tourism has undergone fundamental changes，Our country has enjoyed the technological dividends of the first three industrial revolutions because of the system、Industrial dividends and market dividends，Underlying technology、Financial system、Operation rules、Market System，Already firmly embedded in it，Can’t live alone，Market structural adjustment is imminent。We are all facing the following problems: difficulties in making breakthroughs in basic technology、Bottleneck of industrial upgrading、Debt cycle peaks、Poor financial environment、Economic development slows down、Consumption demand decline、Innovation in cultural tourism is difficult。

At the same time，As the geopolitical situation worsens，Industrial upgrade stagnant、Intensified competition for resources，And the zero-sum game situation in the global market has become increasingly serious，Promoted American populism、Deglobalization、Many actions for comprehensive decoupling between China and the United States，plus debt cycle constraints，Industrial upgrade blocked，This puts us in an extremely difficult development dilemma。Investment、Consumption、Exporting three carriages，Exports have experienced a roller coaster decline since 2020，Exports to the United States and Europe have turned from an average annual growth peak of about 40% in 2021 to negative growth 188bet online sports betting in the third quarter of 2022；Consumption’s contribution to GDP，From more than 60% in 2021，Reduced to nearly 50% in the third quarter of 2022；Investment due to high local debt，After three years of epidemic, local governments have experienced frequent fiscal deficits，Also facing challenges。In this context，It is difficult for the cultural tourism industry to maintain operations、Innovation and development are faced with difficulties。

Changes in China’s GDP demand composition structure 2015-2022

Source: "China Economic Development Report——2023》，World Bank，December 2022

Changes in the growth structure of China’s product exports (2020-2022)

Source: "China Economic Development Report——2023》，World Bank，December 2022

And as mentioned above，Industrial Revolution (Scientific Breakthrough、Technology for commercial use)——Procyclical Finance——Accelerating industrial upgrading——Market prosperity continues——Cultural tourism product innovation，It is a virtuous circle，But once the key elements and constraints change，It will also become a vicious cycle。

On the one hand，First-mover countries are also facing bottlenecks in industrial upgrading and financial cycle constraints；On the other hand，Comprehensive decoupling superimposed on it、Deglobalization、Trade war and other shocks，To our future industrial development、Cultural tourism innovation poses new challenges。That is, industrial upgrading is blocked、Economic development slows down、Sluggish consumer demand、In the case of contraction of the financial cycle，How should we respond？

We observe every cultural tourism project innovation across the cycles mentioned above，They all have common characteristics behind them，All are great entrepreneurs leading innovation，They all insist on creating value for users，We continue to optimize operations。

For example，Walt, founder of Disney Animation Studio.Innovation and Development of Disney and Disney Theme Parks。At the level of entrepreneurial innovation，It follows the law of innovation，Rely on insight into demand、Judgment opportunity、Reorganize resources、Scientific path to innovative products，Continuous innovation of good products、Good service。Disney has insight into the strong demand for parent-child entertainment theme parks among the American middle class，And opportunities for supply mismatch in the market。By judging market opportunities，Decided to establish Blue Sky Studio，Reorganized and integrated screenwriters、Artist、Excellent talents such as mechanics and tools for animation and film production、Scenarios and other resources。Finally passed R&D IP、Innovative products、Enhanced scene experience，What makes Disney great products。

In terms of creating value for users，Disney not only insists on providing functional ride-on entertainment products for middle-class American family users，Also provides them with excellent theme scene experience and superior services，In addition to setting up security、Etiquette、Performance、Work standards such as efficiency，Improve service value、Improve visitor experience，Also through continuous optimization of products and services，Continue to create value for users。

In terms of continuous optimization of operations，Disney itself not only insists on visiting the front lines in person，Persistence and employees、Visitor interaction，Observe tourists’ consumption behavior and shortcomings in product and service details。With the replication and expansion of Disney theme parks in Japan，Entrepreneurial team through knowledge management tools，Develop various Disney products、Process of implementation、Standardization、Manualization。For example，They all have prescribed tools for sweeping the floor、Process and Goals。What broom to use on rainy days、What broom to use in snowy weather，Under what circumstances is sweeping the floor for cleaning，In what scenarios is sweeping the floor to improve the user’s scene experience, etc.。

In contrast, my country’s cultural tourism products are led by entrepreneurs、Create user value、Operation optimization driver aspect，There is still a big gap。Domestic cultural tourism investment in recent years、Market Development，In the period of rapid social and economic development、Industrial upgrading and expansion stage，Various towns driven by capital、Resort、New complex project，Nearly 2-digit average annual investment growth rate，Much higher than the global average speed of 3%，Nearly 1.7 trillion annual investment scale，Developed many projects with a total investment of over 10 billion，Also caused a lot of investment bubbles。Among them，A large number of imitations、Homogenization of replication、Low-level products flood the market，Resulting in the majority of tourism in my country’s cultural tourism market、Little experience，Many beautiful scenery、The phenomenon of lack of culture。

But，As China has experienced 40 years of rapid development，A large number of middle class and mass refined groups incubated through industrial upgrading，Their consumer demand is undergoing tremendous changes，Now with quality optimization、Experience refinement、Cultural deepening、New required features such as diverse themes。The former has many cultural tourism products driven by capital，Because of failure to pay attention to new user needs、New market needs，But focus on capital and short-term speculative gains，The product fails to meet the above segmented needs，Not only caused many unfinished projects，There are also a lot of local development issues left behind。For example，Hainan Haihua Island Resort Real Estate Project，Not only the project is unfinished，It still causes permanent ecological damage，It also leaves hidden dangers for local development。

On the one hand，China’s Industrial Revolution——The development path environment of cultural tourism innovation is no longer the same；On the other hand，The current market situation is，We do not fully respect the laws of product innovation，Lack of entrepreneurial leadership、Lack of operations-driven innovation，Not focused on creating value for users。

At the same time，The development environment of my country’s cultural tourism market has changed，Consumption demand、Financial conditions、The market environment has undergone major changes，my country’s future cultural tourism market development urgently needs to change course。

First, in terms of changes in consumer demand:

In the short term，After the first few peaks of the epidemic after the relaxation of control，The market may experience a period of false prosperity，There will be domestic short-distance leisure and entertainment、Micro vacation and long-distance destination travel market is partially recovering，But not sustainable。

In the medium to long term, cultural tourism consumption will gradually become polarized.Economic downturn，Due to unclear income expectations，Pursuing risk aversion、Needs for safety and self-improvement，Far greater than cultural tourism consumption demand。As mentioned before，On one side is the addition of huge personal hedging deposits，On the other side is the huge amount of household and corporate debt，Maintain rigid consumption and production、Life is demanding and difficult，The elasticity of tourism consumption will be greatly affected。

Specifically，One side is，Middle and high-income people，Their consumption 188bet app is more rational、Increased product requirements，Pursuing long-distance destinations、High cost performance for short distances to cities or villages、High quality、High experience products，Consumption preferences tend toward diverse themes、Refined experience、Cultural consumption、Scene entertainment direction steering。These photos of Internet celebrities from the small town of Jinling frequently hit the screen，It’s hard to find a room in Kaiyuan Senbo，Camping、The new business formats such as RVs are starting a prairie fire，You can get a glimpse of the clues。The other side is，Single income structure，Marginal middle-class and low-middle-income groups with relatively lower expectations，It will reduce cultural and tourism consumption、Xiang Pan Culture and Entertainment、Leisure consumption、Shifting to fragmented consumption。

Second, in terms of changes in financial conditions:

Due to the peak of the global debt cycle，Entering a period of financial tightening and economic recession，Our country is also facing huge external financial environment pressure and internal structural challenges。Therefore，The financial environment for cultural tourism product innovation in the next stage will be even more severe、harsh，To project assets、Higher operating cash flow requirements，To the target customer group、Market segment、Product model、The underlying logic of the business model requires more precision、Efficient。

Third, in terms of adjusting the competitive environment:

Because of shrinking consumption、Market Segmentation、Financing restricted、Intensified competition and other reasons，Future cultural tourism market product development，Will be fragmented from the previous development process，Digging strategy planning、Extensive development、Laissez-faire hosting operation，Shift to development process integration，Pre-planning based on demand operations、User-oriented intensive development、Target refined operation iteration。

At the same time，High leverage compared to the previous period、Heavy assets、Capital driven、Financing methods such as real estate realization、Development mode，The development model of future cultural tourism products，Will shift to operations driven，Demand-guided、Market segmentation type、Development driver that ensures healthy cash flow。

Reset in this cycle、Industrial Reconstruction、Economic recovery、In the process of reshaping cultural tourism，It is extremely necessary for the cultural tourism industry to insist on entrepreneurs leading innovation、Focus on operation-oriented development、Continue to create value for users，On the premise of complying with the cycle，Optimize operations and trial innovative products。

4. Embrace changes and respond positively

In summary，Most of the cultural tourism product development in my country still remains at imitation、Arbitrage stage，Technological Innovation、Product Innovation、Service innovation is still insufficient，True underlying innovation is extremely scarce，The structure of the cultural tourism market is also due to the scarcity of high-quality supply，And cause a more serious mismatch between supply and demand。For example，my country’s hotel industry，Whether it is a budget hotel chain，Still a high-end star hotel，They all imitate Western hotel product forms and management methods。Although there have been many innovations in localized product forms in recent years，Some large hotel management groups have achieved independent research and development of information systems for budget hotels，But，The core PMS front desk reservation system of most high-star hotels、CRS Central Reservation System，And CRM customer management system，Still using Western products and Western management models，Domestic software manufacturers can only provide edge solutions。

Zairu，Theme Park Industry，From the miniature landscape class，To the mechanical riding entertainment category，To the high-tech virtual reality interactive theme park，Our country has been imitating、Copy foreign theme park product forms。But，Has independent IP widely recognized by the market、Knowledge management system that supports product iterative innovation、Scientific innovation organization and other core content production、R&D knowledge reserve、Systematic innovation system and other capabilities are not yet complete，Unable to support new IP research and development、Incubation and accumulation of new knowledge、Systematic innovation of new products。

Therefore，Facing a new stage、New Market、New Challenge，We should give up the old path、The illusion of certainty in the old model，Abandon the urge for capital-driven development，Truely adapt to the development cycle，Focus on user needs，Follow the laws of innovation、Strengthen operational orientation、Continuously create value, specifically:

First, adapt to the development cycle and adjust the development model.In a down cycle，We should adapt to the economic cycle，Adjust development mode。In short，We optimize the development model under the new situation:

From the pursuit of high leverage、Reinvest、Large-scale capital drive、Blind expansion，To pursue low leverage、combination of light and heavy、Appropriate size、Optimization drivers for optimizing product models、Refined development and expansion shift，That is, heavy asset and small volume test model，Full-process asset-light investment、build、Integrated transportation to expand market；

From multiple tracks、High growth、High Yield，Segment the track to focus、Stable cash flow、Continuous growth and transformation of capabilities；

Focus on functional products，Shifting to focus on functional products and multicultural entertainment experiences；

Develop from process fragmentation、Operation，Invest in、Construction、Operation integrated integrated steering，Immediate planning、Investment、Development、Construction、Operation、Iteration、One-stop marketing integrated development、Operation。

The second is to focus on user needs and market segments.Under the new situation，As mentioned before，Customer group differentiation、Requirement refinement、Market Segmentation。Among them，Income structure differentiation，High income、Mid-to-high income、Low and middle income，The corresponding product quality、Value for money、Different functions and experiences。At the same time，With the middle class、Cultural improvement of refined mass groups、Income shrinkage、Expected to weaken，In addition to the diverse themes that have appeared before、Cultural diversity、Quality upgrade、Except for demand characteristics such as experience refinement，Many new changes have also occurred。

For example，High requirements for differentiated IP，Concerned about cost performance，To improve convenience、Experiential technology favors，Preference for cultural and entertainment consumption，For skill type、Learning Tourism Attention。At the same time，Sports Tourism、Industrial Tourism、Healing Tourism、Diversified tourism product 188bet app download forms such as parent-child travel are further subdivided。

Third, follow the laws of innovation and entrepreneurs lead innovation.The development of cultural tourism products has its own rules，Especially in the new consumer demand、New development situation、In the context of new operational requirements，We should respect the innovation rules of cultural tourism products。Except as mentioned above，Entrepreneurs’ insightful needs for innovative cultural tourism products、Judgment opportunity、Reorganize resources、Innovative products、Outside of continuous iteration，From product innovation process、Construction of innovative organizational system，And new features of innovative products, etc.，Needs further refinement，Includes:

From the product innovation process: that is, from market research、Looking for benchmarks、Reverse decomposition、R&D IP、Tell the story、Planning Scenario、Build products、Go to system development for implementation and tracking refinement、Construction、Operation。

From the perspective of innovative organizational system: it includes internal planning、Planning、Development、Construction、Operation organizational system，Knowledge Management System，IT development and management platform，Upstream and downstream development of external industrial chain、Investment、Construction、Operation and other supplier systems, etc.。

From the perspective of new features of innovative products:

Strengthen the differentiated recognition of product IP。Under the new situation，Pan cultural tourism consumption、Themed entertainment consumption will develop in detail，Contracting demand，In the context of intensified competition，Market recognition、Highly identifiable IP，And its leading theme scenes and series of products，Will give priority to occupying the user’s mind；

Improve product technical content。Pursuing an immersive five-sense experience supported by technology、Improvement of service experience assisted by technology、Improving operational efficiency；

Enhance the cultural and entertainment attributes of the product。Because the income of all classes in the new stage has dropped to varying degrees、Increased pressure。Therefore，narcotic style、Escape、Relaxation、Fragmented consumption，Will expand the scale，Cultural and entertainment product innovation content，Can meet the above needs；

Improve the cost performance of products。Under the new situation，Middle and high-income people pursue moderate prices、Excellent value for money，Low- and middle-income people pursue low-to-medium prices、High quality and low price。

Fourth, strengthen operational orientation and pursue healthy development.From product ideas、Model design stage，Start considering future cash flow benefits based on good user experience，And a healthy and sustainable operation and management model。

In terms of operating cash flow，To ensure good product quality、Operating cash flow from service quality、Operating costs、Excellent profit margin；

Investing、Development、Full operation process，Pay attention to the consumption power of the target customer group，Focus on product formats、Operation rationality and revenue sustainability of experience content，Focus on strategy planning、Development and construction、Investment payback cycle at different stages of operation iteration、Product update cycle、Operating costs and cash flow income, etc.。For example，When investment in product innovation is uncontrollable，Try small-volume model development first、Trial operation，Master development、Operating costs and user consumption、Operating income and other data、Market feedback，Combining light and heavy assets、Operation and development linkage，Promote market expansion based on efficient operations。

Fifth, continue to create value and reshape the cultural tourism market.Comply with the cycle、Healthy development of cultural tourism products，It must be a product that continues to create value，Create value for consumers through it，Create value for Party A and shareholders，Create value for yourself、Create value for the market，Meet the demand、Business success、Ability accumulation、Leading innovation，Specific include:

Create consumption value for consumers。Innovative products must meet consumers’ product functional needs and diverse theme experience needs。Among them，Functional requirements include food that meets the six elements of basic tourism、Live、row、游、Purchase、On the basis of entertainment and other needs，Is it safe、Convenient、Value for money、Continuous improvement in quality and other aspects，For example, technology-assisted fast face recognition tickets、Check-in system，Clear standard、Execute efficient and safe transportation products，High-quality accommodation bedding or meals with high cost performance。Theme experience requirements include，IP leads、Culturally guided aesthetic experience of theme scenes、Theme atmosphere five-sense immersive experience、Segment skills or cultural learning experience、Themed social interaction experience、Scenario game entertainment experience, etc.。For example，The&ldquo of Nianhuawan Zen Town;Zen Culture”Topic IP，Themed laser water curtain performance show led by him、Themed Zen Walking Experience、Zen Culture Tea Art、Ikebana and other experiences。

Create value for Party A and shareholders。Future cultural tourism product innovation，To control the whole process of funds and project risks，Guarantee product quality，It must be an investment、Construction、Full-process integrated integrated development、Operation。

We must rely on the leadership of entrepreneurs，Based on market recognition，Integrated investment through the whole process、Construction、Operation Solutions，Innovative products、Save money、Efficient development、Guaranteed quality、Optimizing operations, etc.，Provide integrated solutions and implementation effects that surpass those of peers，Finally achieve investment efficiency、Business success、Healthy and sustainable operation、Asset appreciation、Product can be copied。The author writes in his humble work "Who is Traveling，Who is innovating?，The system mentions the innovation paths of cultural tourism enterprises，Integrated development methods for entrepreneurs to integrate investment, construction and operation，And ways to improve the innovation system，No details here。

In this context，Our investment, construction and operation integrated development level、Process、Tools and knowledge reserves，Whether it catches up with or surpasses its international peers，Where are the shortcomings，Everyone needs systematic thinking。Lack of segmented product innovation capabilities、Knowledge accumulation、Organizational system、Integrated development of product experience is Party A’s nightmare。According to the author’s front-line observation of the industry，EPCO projects led by some local governments，Finally by the planning company、Planning and Design Institute、Engineering development unit，Even the marketing unit undertakes 188bet Online Sports Betting and Casino it，mostly covered with chicken feathers。

Create value for the growth of one’s own capabilities。Every high-quality product innovation，It’s all a accumulation of knowledge that subdivides the track itself、Capacity building。Future Cultural Tourism Development，In addition to following the integrated development process of investment, construction and operation，We must also rely on a complete innovation organizational system and a complete knowledge management platform，And a growing entrepreneurial innovation team。Therefore，In the process of innovating cultural tourism products，In addition to satisfying users、In addition to obtaining income，We still need to continue to optimize our own planning、Planning、Investment、Construction、Operation innovation organizational capabilities，And improve the knowledge management system covering the whole process。

The above knowledge accumulation、Continuous efforts to build capabilities，Aimed to be able to be used in integrated development、In the process of operation，By updating the standardization of each process、Manualization、Informatization strategy and planning、Development and construction、Operation iteration knowledge，Continuously enrich our development、Operation knowledge system。With the support of standardized knowledge management system，We can summarize the lessons learned from development failures，Accumulate successful project experience。

On this basis，When faced with new product innovation and project expansion and duplication，Key IP creative decisions led by entrepreneurs、Theme scene and product form selection、Operation model judgment。Development and operations team，Manage information based on knowledge，Will avoid previous items、During the execution of each process，Mistakes made，Learn from the excellent experience of previous projects，Saving time and money、While improving product quality，Also improved team development capabilities、Cultivation of innovative talents。

Create value for the market。On the one hand，Preliminary development of some high-frequency and inefficient cultural tourism products in my country，Wasting too much market resources，Hindering the high-quality development of the market；On the other hand，Supply and demand mismatch、Under the new situation of downward cycle，The market no longer needs simple imitation and copying、Shoddy development and construction、Homogeneous product competition，But we need disruptive cultural tourism innovation、Refined development and construction、Differentiated healthy competition。Meeting needs、Get income、Leading the direction of market innovation，Leading the direction of market innovation、Activate regional cultural tourism economy、Promote the healthy development of the industry。

Move forward in the darkest night，The less likely it is to flood with floods、Surprise touch typing，Don’t be stubborn and conservative，Only focus on cost reduction and efficiency improvement，But you need to listen to the needs of the market，Follow the insights of entrepreneurs，Real creation of user value。May China’s cultural tourism industry be able to cross the dawn before the night，Crossing the structural cycle，Reborn from the ashes while moving forward with innovation。

Wang Xiaoyu: Distinguished Expert of World Tourism Cities Federation、Researcher、Practitioners in the cultural tourism industry，Continue to focus on middle-class tourism、Theoretical research and industrial practice of entrepreneurial innovation，Long-term responsible for product development of a large cultural tourism group、Work related to strategic investment and front-line operations，Masterpiece "Middle Class Tourism"。