The Beijing Olympic Games has presented China with a valuable opportunity to re-align and boost its thriving tourism industry.
According to a paper in China and World Economy published by Wiley-Blackwell, China's inbound tourism could continue its steady growth if the industry is able shift its heavy reliance of visitors from Hong Kong and Taiwan to the burgeoning Asian markets and developed countries.
China's inbound tourism has achieved spectacular success in the past two decades. The China National Tourism Administration reports that its inbound revenue had increased 15-fold from US$2b in 1990 to almost US$34b in 2006. However, a majority of tourist population comes from China's three areas – Hong Kong, Macau and Taiwan.
"The Olympic Games have always had a significant long run impact on the host country's inbound tourism. The massive media exposure for the Beijing Olympics will offer China a chance for its tourism industry to use its cultural and historical legacy to attract people who would not normally come to China." says Professor Zeng Kaisheng from the Sun Yat-Sen University, Guangzhou, China.
The study, "China's Inbound Tourist Revenue and Beijing Olympic Games 2008", identifies the decisive factors that have influenced China's inbound tourist revenue through an analysis of global and local conditions. The authors then use these findings to investigate the relations between the Olympic Games and China's inbound tourism.
"China's inbound tourism revenue will maintain its steady growth on the condition that China's gross domestic product ( GDP ) keeps growing, its consumer price index ( CPI ) remains relatively stable, and the exchange rate changes of the Chinese RMB are made gradually", says Professor Zeng.
He adds, "China's achievements and economic successes can only support the tourism industry in the short run. Aggressive marketing strategies are required in order for the industry to sustain the pressures of global competition in the long term."
This paper is published in China & World Economy ( Vol. 16( 4 ), Pg. 110-126 ).
ournalists wishing to receive a PDF or schedule media interviews with the authors should contact Alina Boey, Senior Manager, Corporate Communications at email@example.com or phone +65-96565580 .
About China & World Economy
China & World Economy was launched in 1993 by the Institute of World Economics and Politics, Chinese Academy of Social Sciences ( CASS ). Originally self-published, the journal begins its official publishing partnership with Blackwell Publishing in 2006. Published six times a year, this journal combines original academic research works with policy review articles - many of its authors are distinguished Chinese economists from both academic and governmental circles. As the only English language journal in China devoted to the topic of Chinese economics, readers can expect objective, analytical and up-to-date quality content. With distinguished contributors such as economists from both the government and academic circles, the journal will provide an informed and balanced window on China, and will undoubtedly become essential reading for all those interested in China's development.