A Study On The Impact Of International Financial Crisis To The Inbound Tourism Market Of Hangzhou

Throughout the development history of tourism industry, there is a variety of tourism crises run through the process. Those crises have caused different degrees of impact and damage to tourism industry. Because of its high industry-relationship character and sensitivity, tourism is very vulnerable to various adverse factors. In 2008, international financial crisis, which caused by subprime mortgage crisis in American, have led to tremendous negative impact on world economy. The severity and scope of the financial crisis this time is very rare in history. Global tourism industry and tourism market in our country also suffered a lot. As a symbol of degrees of opening and internationalization level for a country or a region, inbound tourism industry is the first to be influenced.Studying on the impact of international financial crisis to the inbound tourism industry, especially to certain regions, exploring the general rules and special rules of the inbound tourism market performance under the crisis and then putting forward certain strategies to cope with it will make great significance to the development of tourism industry and economy. Those are what this paper bases on.The text of this paper can be divided into four main parts:By using the Tourism Background Trend Line model and combining the development stage of international financial crisis, the first part of this paper defines the five time stages of the crisis impact, which are latent period, development period, severe period, declining period and disappearing period.The second part does a comparative analysis on the loss and fluctuation of inbound tourism market of Hangzhou, Suzhou, Shanghai and the whole country caused by financial crisis, then compared with the impact of SARS. The results show that under the impact of financial crisis and SARS, the loss and fluctuation of Hangzhou and Suzhou are very similar. The impact of financial crisis to Shanghai, whose inbound market is composed of more business tourists, is higher than Hangzhou and Suzhou while the impact of SARS is just the reverse. The fluctuation SARS brought is much severer than financial crisis. Based on those results, some strategies for coping with financial crisis and public health event are put forward.The third part analyzes the influence of the financial crisis on Hangzhou's tourist market structure through Geographical Concentration Index model, Tourism background trend line model and Shift-Share Method. Then the regional tourist markets are classified by their market status, loss condition and competitiveness during the crisis. According to the classification, the paper raises different marketing strategies to different markets.The forth part explores the effect of financial crisis on the demographic characteristics of inbound tourists in Hangzhou and tourists'travel behavior characteristics by analyzing the inbound tourism market research data of Hangzhou from 2007 to 2009. Bases on the results which indicated by analysis software, the paper provides some proposals to cope with financial crisis for Hangzhou from the tourists'aspect.