Influence of the Global Financial Crisis (GFC) on the Chinese Outbound Travel Market: A Case Study of the Shanghai Regional Market
By learning from the influence of the GFC on the Chinese outbound travel market using a case study of the Shanghai regional market, this chapter notes that tourists from Shanghai have been surprisingly resilient to the GFC. The expenditure intention of potential outbound tourists from Shanghai indicated that the majority of tourists would not reduce their travel expenditure during the GFC. In fact, quite a large percentage of them would increase their spending, particularly in leisure, recreation and shopping. The implication is that, even during the GFC, Shanghai residents' outbound travel need is still strong and robust. Shanghai tourists' need for and motivation to travel outbound are not easily affected by the GFC, and this is in contrast to outbound tourists from the USA or those from some European countries influenced by the GFC.
Tourism Crisis and Disaster Management in the Asia-Pacific
International Economics and International Finance