Tourism Industry in Taiwan

The Travel and Tourism economy is one of the fastest growing activities in most countries around the world [1]. For many developing countries it is one of the main sources of foreign exchange income and the number one export category, creating such needed employment and opportunities for development [2]. According to World Travel and Tourism Council (WTTO), the Travel and Tourism industry have generated US$7.6 trillion (10% of global GDP (Gross Domestic Product)) and 277 million jobs (1 in 11 jobs) for the global economy in 2014. In Malaysia, for 2014 alone, a total of RM72.0 billion receipts and 27.22 million arrivals were registered [3].

Tourism is perceived as one of the leading industries in the world. “The World Travel and Tourism Council (2001) indicated that tourism creates more than ten percent of the global economic output and 1 in 10 jobs worldwide.”

Since World War II, tourism has developed from a relatively minor activity to the world's largest industry. The travelling within more developed countries as well as from more developed countries to less developed countries generally increased. It also consists of

Geert Hofstede is a Dutch researcher who identified five dimensions of culture to help understand how and why people from various cultures behave the way they do. The five Hofstede’s cultural dimensions are power distance, uncertainty avoidance, individualism, masculinity vs. femininity, and time orientation. Taiwan has a high power distance meaning that people blindly obey the orders of their superiors, and strict obedience is found. Taiwan ranked high in uncertainty avoidance meaning that the people do not like uncertainty and tend to have a high need for security and a strong belief in experts. In individualism Taiwan ranked as a low individualistic

“Statistics-wise, total conference arrivals in 2007 was 1,000,000 or 4.8% of tourist arrivals, compared to 820,000 in 2006.” (Visitors

China is a dominating country with a long, graphic history; an economy worthy of getting into business with; and stories that are unlike any other. The relationship between general economic development and tourism is a tale as old as time, whether it’s businesses agreeing to tourism in their city or in literature where the results proved to be true. Tourism is often seen by governments as a tool for economic development, in particular areas such as employment, entrepreneurial opportunities, development in rural regions, generate tax revenues, and so much more. In 2012, a study by Zeng et al discovered that domestic and international tourism in China is becoming a booming industry. In reality, tourism in China has actually been declining slightly since 2007. This is because of the Chinese Yuan, (whose full title is Yuan Renminbi, abbreviated as RMB) and the fluctuations of the exchange rate causing the price of traveling to China to increase as well as decrease in personal interest. The recent recessions in America and Europe has led to Americans and Europeans being less willing to travel to China and contribute to the Chinese market. In recent years, air pollution and food safety problems have arisen, causing some foreign visitors to worry about travel conditions and even cancel their

The tourism has grown with significant rates in the last ten years and it has become the greater source of currency

Nowadays, travelling becomes a new trend, especially travel abroad. It can open people’s mind and obtain more experience, so, more and more people spent money on travel (Lee, K., 2002). Besides, the development of family leisure brings a new opportunity for hospitality industry in China, for example, the rising of aging market. In China, young age people spent a lot of time on their work, so they have less time to company with their parents. Thus, they prefer to sign up for a tour for them to travel with other people who are in the same age. As long as many people travel around the world, increase hotel

being about double that of the U.S. Sales numbers show that while bookings increased between 2005 and

To limit the range of the datas, the author only compares the number of tourists’ arrival, tourists’ expenditure and tourists’ length of stay from 2000 to 2006.

I hereby confirm that the work contained in this assignment is solely my own, except for reliance on material that is identified and cited according to accepted academic practice.

For example, exports and FDI have been the two key ingredients in China’s rapid economic growth. Also, country with more foreign exchange reserves is more manageable at a global economic crisis and a sudden foreign exchange rates. It also helps nation to pay foreign debt in short-term, or long-term. Tourism is a principal export for 83% of developing countries, and it is the most significant source of foreign exchange after petroleum. According to UNWTO, the rate of tourism growth(8-9%) in lower-middle income developing countries and in the 50 least developed countries has been approximately double the world average growth rate(4%) between 1990 and 2005. It is almost triple the growth rate for high income countries which is slightly less than 3%.(UNWTO,2002) Tourism comprises a significant part of the world’s growing service sector; in sub-Saharan Africa, tourism accounts for approximately 55% of service sector exports(UNWTO,2004). According to Alam et el, there is the positive relationship between total number of tourist and foreign direct investment. If total number of tourist from Tourism increases, FDI will also increase and if Total Receipt from Tourism decrease FDI will decrease over 16 years research on Malaysian tourism. According to China Daily Newspaper, China’s tourism developed rapidly after the

Our industry, the Global Hotels and Resorts, experienced strong growth over the five years to 2015. Over the five-year period, both consumers and businesses became more confident about their finances and spent freely on luxuries, including travel. This culminated in a substantial increase in travel rates and hotel room and occupancy rates, two indicators of a hotel 's performance. Travel spending has also picked up quickly, especially in emerging economies where tourism is on the rise. Global tourist arrivals are expected to increase an annualized 4.8% over the five years to 2015 to reach 1.2 billion. As a result of these positive trends, industry revenue is expected to increase an annualized 4.6% over the five years to 2015

According to the World Tourism Organization, tourism is the world's number one export earner, ahead of automotive products and petroleum, with more than 600 million people travelling to foreign countries during 2000, spending more than US$ 400 billion and all the tourism receipts internationally have total to more than US$ 500 billion. With all the people on the move, available space and time, affordable airfares, new, exciting destination and globalization, clearly resulted to the growth of tourism (Burns, 2005).

• Foreign tourist arrivals in the country have increased substantially during the past decade motivated by both, business and leisure needs and are further expected to grow at a compound annual growth rate (CAGR) of around 8 per cent during 2010-2014. Visitor exports are a key component of the direct contribution of the sector.. By 2021, international tourist arrivals are forecast to total 11,149,000, an increase of 6.1 per cent pa generating expenditure of INR 1,344.7 billion (US$ 30.3 billion). The country has received 3.3 million foreign tourists during the period January to June 2013.