Direct investment in the Chinese tourism sector will reach 3 trillion yuan (US$490 billion) in the coming three years, playing a growing role in the nation’s economy, state-run news agency Xinhua reports.

The forecast was made by Li Jinzao, head of the National Tourism Administration, in a tourism conference that took place over the weekend.

Official figures show that direct investment in the tourism sector reached 650 billion yuan in 2014, rising by 22 percent from a year earlier. The growth rate for tourism investment surpassed the general investment growth rate by 6.2 percentage points, according to Xinhua.

“China’s tourism will play an increasingly important role in boosting investment, consumption and exports,” Mr Li was quoted as saying.

Rural tourism, holiday resorts, and online businesses would be the key areas for tourism investment in the 2014-16 period, he added.