A Study on the Impacts of the Tourism of the Pearl Delta Region on the Hong Kong and Macao Economies

• Main Authors: CHUN-YEN YU, 余俊彥
• Other Authors: Jiun-Fei Chiou
• Format: Others
• Language: zh-TW
• Published: 2005
• Online Access: http://ndltd.ncl.edu.tw/handle/54615454004119197865

碩士 === 元智大學 === 會計學系 === 93 === The concept of the Pearl River Delta regional economy was first floated at an international consultative conference on developing Guangdong economy. After its inception, the concept soon found resonance in provinces and regions neighboring the Pearl River Delta. The proposed Pearl River Delta regional economy is one of strong complementarity and advantages. The region covers Fujian, Jiangxi, Hunan, Guangdong, Guangxi, Hainan, Sichuan, Guizhou, Yunnan, Hong Kong and Macau provinces and special administrative regions. Developing such a regional economy is favorable the region’s competitiveness. The Pearl River Delta has the following advantages in developing into a regional economy. 1. The Pearl River Delta occupies an important strategic and geographic position since it sits at the center of Asia Pacific. 2. Integrating various economies within the region and fulfilling their complementary needs seems a natural development because of the region’s lop-sided economic development. 3. This region has less historical burden, compared with those regions and provinces laden with state-owned enterprises and planned economies. 4. The Pearl River Delta is economically and culturally closer to Hong Kong and Macau. The region attracts labor and investments from the two special administrative regions. 5. Cheap labor and export processing have played an important role in China’s economic development. At a time when costs are rising and the economy is undergoing a transformation, provinces neighboring the Pearl River Delta are also increasingly involved in export processing. 6. The Pearl River Delta regional economy covers the Hong Kong and Macau special administrative regions and therefore enjoys certain exclusive privileges that other cities and provinces don’t have. For instance, Hong Kong has its own Customs and airlines. Similarly, Macau is the only place under Chinese rule where gambling is legal. Each participating province and special administrative region in the Pearl River Delta regional economy enjoys its own advantages. Guangdong, for example, has the biggest economy and a strong travel market. Fujian is famous for its scenery and is home to many overseas Chinese. Guangxi links Guangdong, Hong Kong, Macau to western provinces. Hainan sits at an island near China proper. Hunan is China’s hinterland. Sichuan is full of rivers and has a blessed natural environment. Yunnan also boasts its natural beauty. Jiangxi hoards treasures and resources. Guizhou is a hub in China’s southwestern area. Hong Kong is a pearl of the East and a city full of excitement. The cooperation of all these provinces and special administrative regions requires a friendly investment environment, mutual market access, and better market order. The Big and Small Pearl River Deltas 1. The Small Pearl River Delta covers 4.17 square km and accounts for 23% of Guangdong’s territory. It has a 23 million population, which is 31% of the total population of Guangdong. The Small Pearl River Delta has an output of over 1000 billion RMB, which is 80% of Guangdong’s output. The Small Pearl River Delta accounts for 9% of China’s GDP. With the creation of the CEPA, the Small Pearl River Delta would be able to integrate into a bigger regional economy. 2. The Big Pearl River Delta includes Guangdong, Hong Kong and Macau and has a GDP of over US$300 billion, accounting for over 20% of China’s GDP. The cooperation among Guangdong, Hong Kong and Macau is a win-win situation for all of the three economies. (1) Guangdong will be developed into one of the world’s most important manufacture bases. (2) Hong Kong will be developed into one of the world’s key logistics and finance-oriented service centers. (3) Macau will be developed into one of the world’s most attractive gambling and tourist attractions. (4) The Big Pearl River Delta is set to become one of the world’s most resilient economies. Tourism is a mainstay industry for Hong Kong and China. Hong Kong ranks as the number 1 choice for Chinese tourists. Some 33.4 million Chinese citizens visited Hong Kong during the period between 1998 and 2003, which accounted for 43.4% of China’s outbound tourists. Southern China is also the hottest destination for Hong Kong tourists, who account for 73% of the region’s travel market. Of the 9+2 participating provinces and special administrative regions, Guangdong has given the green light to tours to Hong Kong and Macau by individuals. Fuzhou, Xiamen and Chuanzhou of the Fujian province also followed suit on July 1, 2004. This trend is expected to stimulate the growth of the travel industry in the region. Accordingly, Hong Kong’s travel industry would be able to have a bigger share of China’s travel market and cooperate with their southern Chinese partners. In addition, through international cooperation, the pan-Pearl River Delta can be presented to foreign tourists as a tourism hot spot. Macau is world-famous for its gaming industry. But it can also serve as a platform for tourism, information service, professional service, logistics and air transport, and off-shore financial service. Macau has the potential to become an even hotter tourist attraction offering regional commercial and trade services. Macau has to find a way out of relying solely on gambling revenues and the Pearl River Delta regional economy seems to be the answer. The 4 economic pillars of Macau are gaming, financial service, construction, and export processing, of which gaming is the most important, accounting for half of the city’s revenues. However, gaming cuts two ways. The gambling and entertainment industries are of no help to Macau in terms of bringing its economy to a higher level. In fact, over-dependency on gambling is bringing down Macau’s economic quality. The Pearl River Delta Regional Economy has important implications for Macau’s political and economic development. As the CEPA is kicked into high gear, regional cooperation and joint development will be in the mutual interest of both Macau and the rest of the region. The key to a city’s sustainable development lies in bringing out complementarity. Therefore, the 9+2 Pearl scheme would open Macau’s gaming industry to a greater market. As the Chinese people become increasingly affluent and have more spare time and disposable incomes, the Chinese travel market is expected to grow at a higher rate. China has the largest population in the world and the largest domestic travel market. In 2002, 8 out of 13 Chinese citizens made a trip. Experience shows that when a country’s GDP per capita reaches US$800-1000, travels will become popular and a part of life. China’s domestic tourists will reach 3 billion by 2020, on the premise that every Chinese citizen make two trips a year. According to the 10th Five-year Plan made by China’s National Travel Board, China’s foreign tourists will top 21 million by 2010, creating a revenue of US58 billion. Domestic tourists will reach 2.9 billion and create a revenue of 2040 billion Chinese yuan. The total tourism output will reach 2500 billion Chinese yuan and account for 8% of China’s GDP. Scholars are optimistic about the prospects of China’s tourism.