The Impact of the Global Financial Crisis on the Entertainment Tourism Industry: A Financial Engineering Case Study of Macao from 2007 to 2010

Chan, Victor K. Y.

doi:10.1016/j.sepro.2011.08.049

Cited by 12 publications

(17 citation statements)

References 7 publications

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“…Although the tourism demand dropped by 8.9 percent in the second quarter of 2009, their estimation indicated that tourism demand in Hong Kong is relatively resilient to the global financial crisis (GFC). Chan () constructed a financial engineering model to assess the impact of the GFC on Macao's gross entertainment revenue. The results suggested that Macao's tourism industry is closely correlated with the performance of the global financial markets.…”

Section: Previous Studiesmentioning

confidence: 99%

Long‐run Effect of the Global Financial Crisis on Singapore's Tourism and the Economy

Meng

Chin

Grant

2015

Asian Economic Journal

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This study employs recent Singaporean tourism survey data, the updated Singaporean input–output tables and a computable general equilibrium model to gauge the long‐run effects of the 2008 global financial crisis and selected policy responses. The simulation results suggest that the global financial crisis has had mild negative long‐run effects on the overall development of Singapore's economy, and that the GST deduction policy ought to offset this negative effect.

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Section: Previous Studiesmentioning

confidence: 99%

Long‐run Effect of the Global Financial Crisis on Singapore's Tourism and the Economy

Meng

Chin

Grant

2015

Asian Economic Journal

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“…One of the key elements of TSA is the calculation of the tourist consumption coefficient, which allows us to determine what part of the production of various sectors of the economy is produced solely in order to Bąk-Filipek, E., Cobb, S. C., . The development of the tourism economy in Poland compared to Europe in 2010. Acta Sci.…”

Section: Methodsmentioning

confidence: 99%

“…Measurement of the economic impact of tourism-related activities based solely on the supply side approach is applied in the standard national accounts system and leads to a significant understatement of the real eco-Bąk-Filipek, E., Cobb, S. C., . The development of the tourism economy in Poland compared to Europe in 2010. Acta Sci.…”

Section: Introductionmentioning

confidence: 99%

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The Development of the Tourism Economy in Poland Compared to Europe in 2010–2018

Bąk-Filipek

Cobb

Podhorodecka

2019

aspe

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In article shown the problem with the assessment of the importance of tourism was recognized, and the first initiatives to develop the so-called tourism satellite in the 1990s. The aim of research is to answer the question: what is the share of the tourism economy in generating GDP in Poland and in Europe? The second goal was to answer the question: how has the Polish tourism economy responded to the global economic crisis and has this reaction been similar to European markets? The following hypotheses were adopted: first, the share of the tourism economy in Poland is smaller than the average for Europe, and, second, the Polish tourism economy reacted better to the global economic crisis than other European economies. The article uses data from the satellite tourism account for Poland and World Tourism and Travel Council (WTTC) data showing the multiplier effect of tourism in Europe. The data analysis shows that share of tourism economy in Polish GDP is 6% and the share of tourism industry in Europe in GDP is 8% in the end of second decade of twenty-first century.

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“…Given that tourism activity is a superior good, it seems logic to take into consideration the potential influence of wealth effects on the decision to visit a foreign country. Chan (2011) has established the positive impact of share prices in an analysis of the effects of the financial crisis on the tourism industry in Macao between 2007 and 2010. Travelling to and staying in French Polynesia implies high expenses so it seems reasonable to consider potential wealth effects.…”

Section: The Existing Literature Focused On the Hotel Industry Performentioning

confidence: 99%

The determinants of the hotel sector revenues: The case of French Polynesia

Montant

2019

Tourism Economics

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This article is an empirical analysis focused on the hotel sector in French Polynesia in 2007–2017. One assesses the impact of a set of variables on the French Polynesian hotel sector monthly revenues through a gravity model. First, one specifies a basic model that embeds several potential explanatory variables (the exchange rate (both nominal and real), the rate of unemployment, the geographical distance, some specific historical events, etc.). Next, a second model is specified so as to assess the impact of hotel capacities measured by the number of bedrooms offered. Estimates rest on an unbalanced monthly panel database that embeds main countries from where tourists present in French Polynesia are originated. In order to compare results, each specification is estimated by two methods: classical panel regression (Ordinary least squares /Generalized least squares) and pseudo Poisson maximum likelihood. Both methods lead to coherent results.

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The Impact of the Global Financial Crisis on the Entertainment Tourism Industry: A Financial Engineering Case Study of Macao from 2007 to 2010

Cited by 12 publications

References 7 publications

Long‐run Effect of the Global Financial Crisis on Singapore's Tourism and the Economy

Long‐run Effect of the Global Financial Crisis on Singapore's Tourism and the Economy

The Development of the Tourism Economy in Poland Compared to Europe in 2010–2018

The determinants of the hotel sector revenues: The case of French Polynesia

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