The Situation of the Main Tourist Source Markets

 Table 2. Top 10 International Tourist Arrivals by Countries

Rank 2003 Arrivals 2008 Arrivals 2013 Arrivals growth rate of China is more than 8% from 1993 to 2013. During the same time, the annual average GDP growth rate of United States is 4.58%. In 2013, China’s GDP was 9.24 trillion US dollars, ranking second economy in the world. But it per capita GDP was about 6,750 US dollars, still far behind most developed countries.

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The total exports of China were 2.21 trillion US dollars, with United States, Hong Kong, and Japan being the major trading partners. The total imports of China were 1.95 trillion US dollars, with Japan, South Korea, and Taiwan being the top import partner countries. The exchange rate of China is strictly managed by its central bank, the People’s Bank of China. After 2005, the Chinese government allowed RMB (Reminbi) to float in a relatively restricted range. The total foreign reserve of China was 3.8 trillion US dollars in 2013, ranks the highest in the world.

2.3.2 Hong Kong and Macao

The official name of Hong Kong is Hong Kong Special Administrative Region of the People’s Republic of China. It is close to Pearl River Delta and shares border with Shenzhen City, Guangdong Province, China. Before being an autonomous region of China, Hong Kong was colonized by British government in 1842-1997. The population of Hong Kong is estimated to be about 7.2 million in 2013. Hong Kong economy was shaken by the outbreak of severe acute respiratory syndrome (SARS) in southern China in 2003. After that, GDP of Hong Kong has been a significant growth until now.

In 2013, the GDP of Hong Kong was 274 billion, with 38,123 US dollars of per capita GDP. The total exports of Hong Kong were 459 billion US dollars, with China, United States, and Japan being the main export partner countries. The total imports of Hong Kong were 524 billion US dollars, with China, Japan, and Singapore being the top import partner countries. The exchange rate of Hong Kong Dollar is linked to US dollar under a managed float. The total foreign reserve of Hong Kong was 311 billion US dollars in 2013, ranks ninth in the world.

Macao, a former Portuguese colony, is one of the two Special Administrative Regions of the People’s Republic of China. It is located in southwest of Hong Kong

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and share boarder with Zhuhai City. The sovereignty of Macao was transferred to China from Portugal since 1999. Its population is estimated to be about 615 thousand in 2014. Macao is a densely populated area with a population density of 20,497 people per square mile. The GDP of Macao was 5.3 billion US dollars and 5.9 billion US dollars in 1993 and 1999. It has increased from 6.1 billion to 51.7 billion in 2000-2013, grew by 8 times over this period. During the same period, per capita GDP of Macao has increased from 14,127 US dollars to 91,376 US dollars, ranks fourth in the world. The total foreign reserve of Macao was 16.1 billion.

2.3.3 Japan

Japan is an island nation in East Asia, located in west Pacific Ocean and from the northeast end of Taiwan. It takes 1350 miles flying from Taipei to Tokyo. Japan experienced a population decline since 2007, and its population is about 127.3 million in 2013. In 2013, the GDP of Japan was 4.9 trillion, ranking third in the world with 38,492 US dollars per capita GDP. The total exports of Japan were 715 billion US dollars, with China, United States, and South Korea as the major trading partners, and Taiwan following the fourth place. The total imports of Japan were 832 billion US dollars, with China, United States, and Australia being the major trading partners.

After the global financial crisis of 2007-08, the average exchange rate of Japanese Yen appreciated from 117.8 per USD in 2007 to 79.8 per USD in 2011. After Shinzo Abe became prime minister, the Yen weakened to 97.6 in the end of 2013. The total reserve of Japan was 1.26 trillion US dollars in 2013, ranks second in the world.

2.3.4 South Korea

Republic of Korea is in East Asia, located in the southern part of the Korean Peninsula, having a common border with North Korea. There was a diplomatic relation between

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South Korea and Taiwan which was terminated in 1992. In 2013, the population of South Korea is about 50.2 million and per capita GDP was 25,976 US dollars in 2013.

The total exports of Korea were 560 billion US dollars, with China, United States, and Japan as the major trading partners and Taiwan following the sixth place. The total imports of Korea were 516 billion US dollars, with China, Japan, and United States being the major trading partners.

In 2013, the average exchange rate of South Korean Won was 1094.9 to one US dollar, the total foreign reserve of Korea was 345 billion US dollars and ranks eighth in the world.

2.3.5 The United States

The United States is in central of North America, having common border with Canada in North and with Mexico in South. The population of the US is estimated to be 315 million in 2013, being the third largest country in the world and having 4.45% of world population. The annual average GDP growth rate of United States is about 4.58% from 1993 to 2013. In 2013, The United States’ GDP was 16.8 trillion US dollars, being the world largest economy. The per capita GDP of United States was 53,142 US dollars, ranked tenth in the world. The total goods exports of United States were 1.58 trillion US dollars, with Canada, Mexico, and China being the major trading partners. The total goods imports of United States were 2.27 trillion US dollars, with China, Canada, and Mexico being the major trading partners. The trade deficit with China was 317.6 billion US dollars.

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Figure 3. Annual GDP Growth Rate of Selected Countries during 2003-2013 -10

-5 0 5 10 15 20

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

China Japan Korea Taiwan Hong Kong USA

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