Modelling Economic Structure: The Perspective of Tourist Cities

• Autorzy: Li Sheng , Yechang Yin , Anning Zhang
• Języki publikacji: EN

Abstrakty

EN

This study uses a theoretical method and also mathematical programming (MP) models to assess the polarisation of Macao's tourism industry in terms of economic realism, with Las Vegas as a reference. The industrial polarization of Macao's gaming industry has led to a serious imbalance in the development of the city's industrial structure. The author posits that market structures in the two locations vary in significant ways. Due to diverse market circumstances, including tourist amenities and consumer preferences, push forces are prominent in Macao, whereas pull forces are essential in Las Vegas. As such, Macao cannot and should not endeavour to reach the same level of diversification as Las Vegas due to the possible adverse consequences of being economically non-viable because of differences in market circumstances. These theoretical implications have been validated in reality in recent years. Indeed, the emergence of up-to-date resort assets have reinforced, rather than alleviated, the specialisation of Macao's hospitality sector. The results suggest that casino tourism in Macao will continue to expand in a polarised fashion. The purpose of this study was to determine whether Macao's diversification, although politically mandated, is economically realistic. With the implementation of policies such as the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, it is hoped that the study's policy relevance will become increasingly apparent in the coming years.(original abstract)

Słowa kluczowe

PL

Polaryzacja gospodarcza; Dywersyfikacja; Turystyka w gospodarce

EN

Economic polarization; Diversification; Tourism in economy

• Czasopismo: Argumenta Oeconomica
• Rocznik: 2022
• Numer: nr 2 (49)
• Strony: 135-150

Twórcy

autor

Li Sheng

• University of Macau, China

autor

Yechang Yin

• University of Macau, Macao, China

autor

Anning Zhang

• University of Macau, Macao, China

Bibliografia

• American Gaming Association. (2019, June). State of the States 2019: The AGA Survey of the Commercial Casino Industry. [Press release] https://www.americangaming.org/wp-content/ uploads/2019/06/AGA-2019-State-of-the-States_FINAL-1.pdf.
• Bronner, F., & de Hoog, R. (2017). Tourist Demand Reactions: Symmetric or Asymmetric across the Business Cycle? Journal of Travel Research, 56(7), 839-853. https://doi.org/10.1177/0047 287516672347
• Bumazhny, A. (2015, August 27). Why Macau won't unseat Las Vegas any time soon. Emerging Market Skeptic. http://www.emergingmarketskeptic.com/why-macau-wont-unseat-las-vegas-anytime- soon-fitchratings/
• Copeland, B. R. (1991). Tourism, Welfare and De-industrialization in a Small Open Economy. Economica, 58(232), 515-529. https://doi.org/10.2307/2554696
• Dwyer, L., Forsyth, P., Spurr, R., & VanHo, T. (2003). Tourism's Contribution to a State Economy: A Multi-Regional General Equilibrium Analysis. Tourism Economics: the Business and Finance of Tourism and Recreation, 9(4), 431-448. https://doi.org/10.5367/000000003322663140
• DSEC. (2020, 2021). Time Series Data, Macao Statistical and Census Services. Government of Macao Special Administrative Region Statistics and Census Service.https://www.dsec.gov.mo/ts/

Identyfikatory

DOI

10.15611/aoe.2022.2.07