Feasibility Study on Investment Environment of Tourism City Real
Estate Projects Based on Data Model Visualization and PEST Model:
A Case Study of Beihai City
Jie Song
School of Management, Shanghai University of Engineering Science, Shanghai, China
Keywords: Real Estate Projects, Feasibility Study, PEST Analysis.
Abstract: Based on the feasibility of real estate projects in tourist cities in the post epidemic era, this paper analyzes the
residential projects in Changsha Bay, Beihai City, Guangxi Province, China with PEST model. Through the
key analysis of external environmental factors such as policy, economy, society and technology, the analysis
process focuses on the current policy environment and social and economic conditions of Beihai City, as well
as the current technical environment of the construction project computer, especially highlighting the
importance of the current BIM technology innovation as the second information revolution. In this paper, the
computer visualization model of dormitory project is cited to help with technical analysis. Finally, the
conclusion is drawn that although the project has certain disadvantages and risks, within the controllable
range, the research results have certain reference significance for the feasibility of tourism city real estate
projects.
1 INTRODUCTION
The tourism industry plays an important role in
stabilizing employment, promoting sales, building a
new pattern of "double circulation" and helping
common prosperity. At present, the tourism industry
is changing quietly, showing a new trend of
integration and development with other industries,
and constantly spawning new models, new formats,
and new industries. In particular, the tourism industry
is a great boost to the real estate industry. A good city
name card can promote the sales of local real estate
projects, successfully promote the city's investment
attraction, and greatly develop the city's economy.
With the sudden attack of the COVID-19 in 2019, the
global economic development has suffered a serious
impact, and the tourism industry has suffered a heavy
blow. As a result, the real estate industry in tourist
cities has also suffered a blow. Investment failures
and decision-making errors account for a large
proportion of projects. Analysis of the reasons for
these project failures, in addition to the lack of
management and development project positioning,
The most important thing is the lack of feasibility
study on the investment environment of real estate
projects in tourism cities in the post epidemic era. For
real estate projects in specific tourism cities in the
post epidemic era, do they have the conditions for
development? Can it be developed? Is there any
development prospect? These issues need to be made
scientifically based decisions. Therefore, it is very
necessary to study the feasibility of investment
environment for development projects.
BIM originates from a concept proposed by Dr.
Chuck Eastman of Georgia Tech College: building
information model contains all information,
functional requirements and performance of different
majors, and integrates all information of a project into
a building model. As an integrated technology, BIM
integrates design, construction, management and
other aspects into one. Its emergence conforms to the
current trends of industrialization, standardization,
informatization and other aspects of the construction
industry. BIM technology is quietly promoting the
second information revolution in the construction
industry.
The concept of "research" has been applied in the
Tennessee River Basin Control Project (Emil Malizia
1992). The project has achieved great success and
triggered a wave of research and application of
feasibility theory. After years of development, the
feasibility study has penetrated into many fields and
134
Song, J.
Feasibility Study on Investment Environment of Tourism City Real Estate Projects Based on Data Model Visualization and PEST Model: A Case Study of Beihai City.
DOI: 10.5220/0012026900003620
In Proceedings of the 4th International Conference on Economic Management and Model Engineering (ICEMME 2022), pages 134-139
ISBN: 978-989-758-636-1
Copyright
c
2023 by SCITEPRESS – Science and Technology Publications, Lda. Under CC license (CC BY-NC-ND 4.0)
become an important part of the early stage of the
world project investment decision-making. Jean
Durby, a French engineer, published the Utility
Evaluation of Public Works in 1844. Aiming at the
problem that the financial analysis method cannot
correctly evaluate the economic benefits of public
utilities projects to the whole society, he proposed the
concept of "consumer surplus" (Heralova 2017) In
1950, the United States published the Practical
Method for Economic Analysis of Inland River
Projects, which stipulated the principles and
procedures for studying the relationship between
benefits, cost ratio, project benefits and GDP .
2 PEST ANALYTICAMETHODS
PEST analysis method is a basic tool for strategic
external environment analysis. It generally grasps the
macro environment through the analysis of political,
economic, social and technological factors or four
aspects, and evaluates the impact of these factors on
the investment environment of real estate
development enterprises (Reddy Sai Sravanth and N.
Sundaram and Desti Kannaiah 2019)
PEST Analysis was developed by Philip Kotler, a
business scholar, marketing guru, and professor at
Northwestern University's Kellogg School of
Management. "Trying to enter a market without
research is like trying to enter a market blindly,"
Kotler said in his book Kotler's Strategic Marketing.
(
Peng and Nunes, 2007). It explains the importance of
environmental analysis.
To date, most successful businesses and products
have been credited with taking advantage of changes
and trends in the world. As the external environment
changes, enterprises can keep pace with The Times
by changing their business and products to survive
(Murong Ren and Litian Wang 2020). PEST analysis
is positioned as one of the frameworks to understand
this external environment (especially the macro
environment) and to have an impact on the company.
3 ANALYSIS OF PROJECT
INVESTMENT ENVIRONMENT
3.1 Overview of Beihai Real Estate
Project
Beihai City is a city famous for tourism. Taking the
real estate project of Beihai City, Changsha Bay, as
an example, it was carried out under the background
of the COVID-19, when the tourism industry was hit.
Analyzing the residential project of Changsha Bay, a
Chinese port city, will help us understand whether the
real estate project of the tourist city in the post
epidemic era is feasible. Beihai Zhong gang City is
located on both sides of Shanghai Road and
Chongqing Road, Henan Road, Haicheng District,
Beihai City, connecting the old city, He pu County
and Tie shan gang District. Surrounding banks,
markets, schools, hospitals and other facilities, Beihai
Zhong gang City will stand at the height of the city,
interpret the legend of the city with an international
vision and vision, and build a new profile and skyline
of Beihai.
3.2 PEST Analysis on Investment
Environment of Changsha Bay
Project in Zhong gang City
3.2.1 Policy Environment Analysis
2019 is a very special year. On December 29,
COVID-19 began to break out. By 2020, the real
estate market will be greatly affected by the spread of
COVID-19. In the first half of 2020, the central
government repeatedly stressed the need to
strengthen counter cyclical regulation, maintain
reasonable and sufficient liquidity in the real estate
trading market, and ensure employment, livelihood,
market, food security and supply chain stability in the
"six stability" and "six guarantees"; Under the policy
background of stabilizing employment, finance,
foreign trade, investment and expectation, the overall
financial environment pressure of the real estate
industry is not large. At the same time, in order to
fully release the domestic consumption potential, the
government has increased the strength of the new
urbanization and regional development strategy. At
the same time, it has delegated some land approval
rights, improved the market-oriented allocation of
production factors, accelerated the transformation of
old cities and dilapidated buildings, and promoted the
long-term development of the real estate industry. In
terms of real estate regulation, the central government
still adheres to the orientation of "no speculation in
housing, that is, no speculation in housing". Although
under the macro background of reasonable and
abundant liquidity, the financial supervision of the
real estate industry is still strict, the local
government's policies on cities are more flexible, and
many places have introduced real estate support
policies from both supply and demand. Although the
overall regulation situation has improved slightly, the
government still adheres to the determination of
Feasibility Study on Investment Environment of Tourism City Real Estate Projects Based on Data Model Visualization and PEST Model: A
Case Study of Beihai City
135
regulation and the bottom line of the main body of
regulation, and the demanders implement it more
from the aspects of relaxing population placement,
lowering the threshold for talent introduction, and
increasing housing subsidies. Beihai carried out an
analysis forum on the real estate situation in view of
the current national macroeconomic conditions, and
analyzed the current real estate related policies.
Figure 1: Content of Beihai Real Estate Situation Analysis Symposium in June 2020.
3.2.2 Economic Environment Analysis
Strive to speed up work and achieve real results,
steadily accelerate agricultural production, accelerate
the recovery of industrial operation, actively and
steadily develop the service industry, and generally
maintain the economic operation within a reasonable
range. GDP Development Status of Beihai City in
Guangxi Province in Recent 10 Years (all data are
from Guangxi Statistical Yearbook
.
Figure 2: Change Trend of Beihai's GDP in Ten Years (100 million).
3.2.3 Social Environment Analysis
Analyze the employment, residents' consumption and
construction industry of Beihai City, and analyze the
social environment of the project. In general, the
number of new employees in Beihai is on a steady
trend. In the 19th and 20th years, the decline was
largely due to the epidemic. At the same time, the
ICEMME 2022 - The International Conference on Economic Management and Model Engineering
136
number of new employees in Beihai is not large
because Beihai is a foreign tourist city and the size of
local urban residents is not large. But in recent years,
as more and more people are willing to come to
Beihai and take root in Beihai, the government has
also made great efforts to develop Beihai so as to
increase more and more employment opportunities,
The economic development of Beihai has also been
improving. At the same time, the demand for housing
is also increasing.
Figure 3: New employed population in Beihai from 2015 to
2020.
Since 2016, all walks of life, including the
construction industry, have developed rapidly, with
the real estate industry bearing the brunt. More and
more real estate developers have taken a large amount
of land for real estate development and construction.
The following is the added value of the construction
industry in Beihai from 2016 to 2020.
Figure 4: Change trend of added value of construction
industry in Beihai from 2016 to 2020.
In 2020, the consumer price index of Beihai
residents will generally show a stable trend. Although
it will show a downward trend in some seasons, it is
because the epidemic still has a certain impact.
With the normalization of the prevention and
control of the novel coronavirus epidemic, the
consumer price index in Guangxi has been rising
steadily from both the sequential and year-on-year
perspectives, which fully demonstrates the
strengthening of people's willingness to buy and the
improvement of the surrounding consumption
environment, which is conducive to further
promoting the improvement of the real estate market.
Figure 5: Consumer Price Index of Beihai City in 2020.
Figure 6: Growth of Consumer Prices in Guangxi Province.
Specifically, by the end of 2020, in the key year
to comprehensively win the battle against poverty, all
the poor people in 79 poverty-stricken villages, 13095
households and 55000 registered cards in the city will
have been lifted out of poverty. They have firmly
fulfilled the tasks assigned by the General Secretary,
and improved the confidence of urban residents in
yearning for a better life. Since 2015, the incidence of
poverty has dropped from 3.6% in the year to 0% by
the end of 2020. This is not a simple figure, but the
joint efforts of all Beihai people, At the same time,
the annual per capita income of poor households has
increased from 3102 yuan at the end of 2015 to 12727
yuan in 2020, realizing the first century dream of
Beihai people and the country to achieve a well-off
Feasibility Study on Investment Environment of Tourism City Real Estate Projects Based on Data Model Visualization and PEST Model: A
Case Study of Beihai City
137
society in an all-round way. The living standard of the
people has greatly improved. The following is the
increase in consumer price expenditure of Beihai
residents in 2020
Figure 7: Consumer Prices of Beihai Residents.
3.2.4 Technical Environment Analysis
Since the reform and development, all walks of life
have ushered in their own innovation and even
revolutionary development, and the field of
architecture is no exception. The most noticeable one
is the development of BIM technology. The so-called
BIM refers to building information modeling.
Literally, it is not difficult to understand that it is the
use of technical operations to reflect the building
information on the model, that is, 2D information
becomes 3D information, which is also called
"visualization". The traditional architecture field
cannot realize the visualization or detection of
technology, but the birth of BIM can understand the
project in the whole process and establish the building
model. The role of BIM can be simply taken as an
example: for example, Xiao Ming invited three
friends to have dinner at home, and each friend is
required to bring a cooking tool. A friend brought a
spoon, B friend brought a spoon, and C friend also
brought a spoon. As we all know, this meal was
impossible. The reason is that when we were
preparing this meal, we did not know about it, that is,
we did not have control over it. Today, if Xiao Ming
had a mobile phone and informed all his friends
before going out, then there would be no problem
with the division of tableware for this meal, and it
would not happen unintentionally. The "meal" here
can be understood as an engineering construction
project, and the "mobile phone" can be understood as
BIM technology. Now in the age of big data, there are
many media software for building technology, such
as Guanglianda, Luban, NW, Revit, etc. In a word,
the current real estate construction industry is still
developing rapidly, and the future technology is also
growing rapidly. Perhaps today's BIM technology
will also become the foundation of the latecomers in
the next 2-3 years. When new technologies come, the
construction field will be more earth shaking changes.
Building engineering software is widely used.
Taking a student dormitory building as an example,
the 3D model of the project is built using the
Guanglianda civil engineering calculation software
GTJ2021, and then the project cost is compiled using
the Guanglianda GCCP6.0 software. A simple
technical and economic analysis of the data is
conducted, and finally the feasibility of the project is
judged. The whole process can be visualized through
the model.
Figure 8: GTJ Computer Software to Construct 3D Model
A of Student Apartment.
Figure 9: GTJ Computer Software to Construct 3D Model
A of Student Apartment.
ICEMME 2022 - The International Conference on Economic Management and Model Engineering
138
Figure 10: GTJ computer software construction of 3D
model of student apartment - model of constructional
column construction stage.
4 CONCLUSION
With the gradual standardization of COVID-19
prevention and control, as well as the strong support
of the country for the cultural tourism industry
integration to promote common prosperity and
achieve high-quality development, and the rise of
BIM technology in the current environment and the
wide application of PEST model method, the
feasibility analysis of the real estate project
investment environment in tourism cities has become
an urgent problem to be studied. Taking the Changsha
Bay project in Beihai Zhonggang City as an example,
this paper conducts a feasibility study on its
investment environment through market research,
data analysis and 3D model demonstration, and draws
the following conclusions:
According to the PEST analysis of the investment
environment in Zhonggang City, Beihai City, the
current national policy is to emphasize "stability",
and the country still supports the development of the
real estate industry. While supporting the industry to
promote social and economic development, it has also
led to the transformation of new technologies,
especially the rise of BIM technology and the
generation of big data in recent years. The feasibility
of the project's technical environment is further
confirmed by the 3D model visualization of the
dormitory project in the technical analysis. Therefore,
from the perspective of policy, economy, society and
technology, the real estate investment environment of
tourist cities still has a great prospect and
development space. Therefore, the real estate projects
of tourist cities still have a good investment
environment.
REFERENCES
Cox, J. (2021). The higher education environment driving
academic library strategy: A political, economic, social
and technological (PEST) analysis. The Journal of
Academic Librarianship, 47(1), 102219.
Heralova, R. S. (2017). Life cycle costing as an important
contribution to feasibility study in construction
projects. Procedia engineering, 196, 565-570.
Isaac, S., & Navon, R. (2008). Feasibility study of an
automated tool for identifying the implications of
changes in construction projects. Journal of
Construction Engineering and Management, 134(2),
139-145.
Malizia, E. (1992). A framework for real estate feasibility
research. Journal of Property Valuation and Investment.
Olekh, H., Kolesnikova, K., Prokopovych, I., & Kozlov, O.
(2020). METHODOLOGICAL ASPECTS OF THE"
ENVIRONMENTAL IMPACT ASSESSMENT"
CHAPTER MAKING PART OF THE PROJECTS
FEASIBILITY STUDY. Odes' kyi Politechnichnyi
Universytet. Pratsi, 2020(1), 109-128.
Peng, G. C. A., & Nunes, M. B. (2007, July). Using PEST
analysis as a tool for refining and focusing contexts for
information systems research. (pp. 229-236).
Feasibility Study on Investment Environment of Tourism City Real Estate Projects Based on Data Model Visualization and PEST Model: A
Case Study of Beihai City
139
