Discussion on the Impact of Number of Arriving Tourists in Taiwan and Economic Indexes on Fluctuation of Tourist Hotel Stock Prices

• Main Authors: Po-Tung Huang, 黃柏棟
• Other Authors: Chih-Wen Ting
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/46700690319094687451

碩士 === 南華大學 === 旅遊管理學系旅遊管理碩士班 === 102 === 　　With the increase of domestic income, tourism, a non-smokestack industry, has become a crucial activity in the 21st century. The wide spread of information and electronic media is the spur for popular involvement in tourism and leisure. The volume of travelers has skyrocketed thanks to convenient traffic and elimination of immigration barriers. The arrival of tourists bespeaks consumption and lucrative opportunities. This is no exception to the case of Taiwan, which has witnessed the prosperity of local businesses making enormous profits from air freight delivery, transportation, hospitality, and local souvenirs and specialties, including both explicit and implicit opportunities. Economic indexes represent the ability of purchasing, defined by exchange rates, consumer price indexes, income, oil prices, interest rates. Exchange rates and price indexes shape the willingness of tourists visiting Taiwan and their consumption. Oil price may be an important implicit function, for it determines inland transportation costs. The paper addresses the impact of number of arriving tourists in Taiwan and economic indexes on fluctuation of tourist hotel stock prices, targeting exclusively tourist hotels that are listed companies for the analysis on the impact on stock prices of such listed corporate and the degree of impact.