Group 1: Investment and Returns in Cultural Tourism - The domestic cultural tourism industry has a large investment scale but low returns, with an average self-sufficiency rate of cultural institutions at only 48.7% in 2023[1] - In 2024, 83% of sample listed or bond-issuing cultural tourism companies had a return on equity (ROE) lower than the median ROE of A-share listed companies, which is approximately 4.48%[1][12] - The average "non-fiscal income/total assets" ratio for cultural relic institutions was only 15.6% in 2023[1][12] Group 2: Comparison of Domestic and Overseas Spending - Domestic tourists' total spending increased by about 35% from 2018 to 2025, but the average daily spending per person decreased by approximately 3.4%[2][21] - In 2024, mainland tourists spent an average of 1372 RMB per day in the UK and 1107 RMB in Taiwan, over 10 times the average domestic daily spending of 113.88 RMB[2][22] - Shopping expenditure for mainland tourists in Japan and Taiwan accounted for 43% and 22% of their total spending, respectively, significantly higher than other tourists[2][28] Group 3: Need for Cultural IP Development - There is a pressing need to create more classic cultural IPs to enhance investment returns in the domestic cultural tourism sector[3][45] - In 2024, 39.8% of mainland tourists sought "happiness" through overseas travel, 13.6 percentage points higher than the average of other tourists[3][46] - Activities with high cultural added value, such as attending pop culture events, are in higher demand among Chinese tourists compared to international tourists[3][48] Group 4: Impact of Successful Cultural IPs - Disney's Tokyo Disneyland generated over 52% of its profits from merchandise and dining services, showcasing the financial benefits of strong cultural IPs[3][49] - The "Game of Thrones" series significantly boosted tourism in Dubrovnik, Croatia, contributing approximately 1.26 billion euros in tourism revenue from 2012 to 2015[3][55] - The "Lord of the Rings" travel routes contributed over 3.5 billion euros to New Zealand's tourism revenue in 2019, highlighting the long-term impact of classic cultural IPs[3][55]