Research On Evaluation Of Growth Of Tourism Listed Companies Of China

The tourism industry has a reputation of "smokeless industry" and "eternal sunriseindustry".It has become the world’s three major industries with the automotive industry andthe oil industry. In China, as an emerging industry, after the reform and opening up30yearsfrom scratch, from small to large, the scale of the tourism industry has had a certain size and ithas become more and more important in the national economy. In recent years, with thecontinuous development of China’s economy, the continuous improvement of people’s livingstandards as well as the adjustment of the national holidays, the development of Chinesetourism industry is becoming more and more mature, which has brought rare opportunities forthe development of Chinese tourism enterprises; however, after China’s accession to the WTO,international tourism enterprises have entered and seized the domestic tourism market forChinese tourism enterprises. This shows that China’s tourism enterprise is facing the hugepressure and challenges. Therefore, how to seize the opportunities; meet the challenges, andpromote the development of China’s tourism enterprises become important issues. The studyon evaluation of growth of China’s tourism listed companies which are the “leader” in tourismindustry will contribute to understanding the growing status quo of China’s tourism listedcompanies. And this has major significance on studying the sustainable development ofChina’s tourism enterprises.This paper defines the concept of China’s tourism listed companies and it’s classification,and selects20tourism listed companies as samples. Based on summarizing growth evaluationsystem, evaluation method and China’s tourism enterprises’ own characteristic, this paperstructures growth comprehensive evaluation system and model of China’s tourism listedcompanies and uses factor analysis to apply it to the former samples based on data indicatorsof annual growth from2007to2011, extracts seven indexes which can reflect the growth oftourism listed companies. Then calculates the score of the growth and sort it.The empirical results show that beyond half of the tourism listed companies’ growthscores are less than0, which indicates that a considerable portion of the tourism listed companies’ growth is not optimistic. Specifically, the growth of hotel category listedcompanies is the best, followed by scenic spots category, general category later, and thegrowth of different sub-sectors in tourism industry as well as different enterprises within thesame sub-sector has a serious differentiation phenomenon. Finally, this paper makesrecommendations on enhancing the growth of tourism listed companies from the macro andmicro level..