【正文】 and Opportunities ................................................................. 4 Conclusions ................................................................................................................................ 4 一 全球化下旅游業(yè)和房地產(chǎn)業(yè)的基本因素 ..................................... 6 二 旅游房地產(chǎn) 定義和界定 .................................................. 6 （一）旅游定義 ................................................................................................................. 6 （二）旅游房地產(chǎn)方面 ..................................................................................................... 6 三 房地產(chǎn)和國(guó)際旅游 ....................................................... 7 （一）酒店業(yè) ..................................................................................................................... 7 （二）基礎(chǔ)設(shè)施 ................................................................................................................. 7 （三）多種多樣的其他途徑 ............................................................................................. 8 （四）房地產(chǎn)競(jìng)爭(zhēng)和機(jī)遇 ................................................................................................. 8 結(jié)論 ...................................................................... 8 原文出處 .................................................................. 9 河北科技師范學(xué)院 2020 屆本科畢業(yè)論文（設(shè)計(jì)）外文翻譯 1 Underlying Factors in Real Estate and Tourism Globalization While a number of studies exist on global real estate markets,little has been written on the implications of globalization from the point of view of the US real estate industry. Scholars and analyst identify three main sectors within the broad real estate industry, investment,development,services ,each of which is affected differently by globalization. Even without physical presence, the global economy affects many aspects of the industry, including real estate prices and returns, and the underlying costs of materials. Motivations for globalization of real estate investment include diversification of risk, higher returns, and changing customer demand. Geographic diversification within a single product type raises questions, as there is evidence that both office and residential products move with the global market rather than distinctly by geographic area. A broader mix of real estate products appears to provide diversification benefits in a mix with other types of products in a global portfolio. Research on tourism globalization has largely focused on tourism as an activity or a service, rather than the real estate aspects and implications .Communications technology such as the Inter has expanded access to the international market for small tourism providers. Making use of these technologies has affected human resource demand, adding higher skilled/higher wage jobs to the tourism sector. Researcher describes a range of tourism investment directions that are directly tied to the real estate. Tour operators made direct investment in hotel capacity in the 1960s and 1970s, while other foreign investment has concentrated in hotels in metropolitan areas. Theme park operators, such as Disney and Legoland, have developed internationally. The author also notes smallscale microinvestments have been eased by the free flow of capital within the European Union. Overall, these investments are small pared to other aspects of tour ism development, such as management, franchising, and even the globalization of tourism supply chains. Tourism Real EstateDefinitions and Measurement Tourism Defined Although tourism is often described as an industry, it does not show up as a single industry or sector, or even as the sum of a set of sectors, in the normal economic accounting for the US economy. Instead, tourism involves portions of more than half a dozen industrial 河北科技師范學(xué)院 2020 屆本科畢業(yè)論文（設(shè)計(jì)）外文翻譯 2 sectors. The World Trade Organization defines tourism