为何一大批文旅项目死在开业前？

Core Viewpoint - The article discusses the EPCO model in the context of China's cultural tourism projects, highlighting its efficiency and the underlying risks associated with its implementation [12][66]. Group 1: EPCO Model Overview - EPCO stands for Engineering, Procurement, Construction, and Operation, representing a comprehensive approach to managing cultural tourism projects [2][12]. - The model is perceived as a solution for project management, allowing a single team to handle design, construction, procurement, and operation, with minimal government involvement [12][41]. - The model's efficiency is questioned, as it often leads to profit manipulation at each stage, prioritizing financial gain over project quality [14][46]. Group 2: Financial Mechanisms - The model relies heavily on government funding, particularly through "rural revitalization funds," which are essentially subsidized loans [6][8]. - Companies involved in EPCO projects often bear the interest costs of these loans, which can be as high as 4.5% annually [8][10]. - The financial structure allows companies to generate revenue through various means, including design fees and procurement markups, often before the project is completed [41][56]. Group 3: Operational Challenges - The operational phase of EPCO projects focuses on maintaining stability rather than achieving long-term success, with the primary goal being to avoid project failure [36][38]. - The model encourages a cycle of financial maneuvering, where companies aim to profit from each phase of the project lifecycle, often at the expense of sustainable development [55][66]. - The reliance on government support and the potential for changing political landscapes pose significant risks to the sustainability of these projects [60][62]. Group 4: Industry Implications - The popularity of the EPCO model stems from its ability to meet governmental performance metrics without requiring substantial project success [48][54]. - The model creates a disconnect between project execution and actual visitor engagement, leading to a façade of success that may not reflect reality [46][70]. - As the industry continues to adopt this model, the long-term viability of cultural tourism projects remains uncertain, with many projects potentially failing to deliver on their promises [69][70].