Funding and efficiency have always been important factors that restrict the sustainable development of tourism in developing countries. The PPP (Public Private Partnership) is an innovative model for addressing the above problems and is popular in the sustainable development of tourism around the world. The performance evaluation of tourism PPP is a key step towards promoting the PPP policy and sustainable development. In particular, the analysis of spatial effects that are easily overlooked will help to improve the measure of PPP performance. Based on tourism PPP projects in the PPP database of the Ministry of Finance in China, this paper analyses the spatial patterns and development characteristics of tourism PPP, identifies and measures the impact factors of tourism PPP by virtue of the GeoDetector method, and analyzes the function of PPP in tourism development and governance. The research shows that there are significant spatial disparities in the tourism PPP projects. Although tourism PPP is the result of interactions between multiple factors, what plays a critical role is the financial factor. PPP acts as a policy driver in tourism development in China. It corrects spatial mismatch between tourism resources and factors, eliminates space barriers and promotes the realization of spatial justice of tourism development. This study not only contributes to the improvement of China's PPP policy, but also has implications for PPP policies in other developing countries.Sustainability 2018, 10, 4058 2 of 15 ($318 billion) during the 13th Five-Year Plan period. In contrast to the enormous demand, the supply of the tourism industry faces huge factor gaps, especially in relation to funding and experienced professionals. It is important and urgent to introduce the PPP (Public Private Partnership) to attract private capital into tourism development, ease the government's financial pressure and accelerate the development of the tourism industry.PPP, which is an innovation model under the impact of new public management (NPM) in infrastructure and public service, provides advantages of filling the funding gap of local governments, sharing risks rationally, improving efficiency, promoting institutional reforms, and boosting economic development [3]. To mitigate the debt risks of local governments and promote private capital development, Chinese governments have issued dozens of policies to encourage PPP development, and consequently a PPP fever has developed since 2014 [4]. Since 2014, the application of PPP has covered 19 sectors including energy, transportation, education, municipal works and tourism. In contrast to other fields such as water supply and sewage treatment and transportation, tourism PPP has just emerged in recent years.It is very difficult to conduct a substantial evaluation of the implementation effectiveness of the PPP in these early stages. Therefore, the current PPP policy evaluation mainly focuses on the ex-post evaluation of theoretical analyses and case studies [5][6][7]. There is a major flaw in exis...