Southwest China's Tibet autonomous region is estimated to grow at the rate of 12.2 percent this year, recording a double-digit GDP for 18 consecutive years, said a government official.
Witnessing a steady economic growth this year, GDP of Tibet is estimated to reach 50.6 billion yuan ($7.6 billion), said a China Daily report citing Padma Choling, regional government chairman, Tibet.
Economic growth in Tibet is mainly driven by secondary and tertiary industries this year which posted growth of 14.8 percent and 12.6 percent year-on-year respectively, said Choling.
Besides, foreign trade and tourism continued to boost regional economic development, he said.
In the first 10 months of this year, Tibet’s foreign trade reached $580 million, up 83.7 percent compared with the same period last year.
Tourist arrivals increased by 21.6 to 6.82 million this year compared with last year figures, according to the local tourism bureau. Revenue from tourism in the region was up by 32.8 percent to 6.93 billion yuan.
Hefty investment from the Chinese central government was also a major engine driving Tibet's economic growth, said Padma Choling.
High economic growth is expected to result in increase of net per capita income of Tibetan farmers and herders to 3,990 yuan, up 13 percent year-on-year, he added.
However, the region targets to maintain its consumer price index within 3.5 percent.