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ABSTRACT
Hotel investment is assumed to provide many positive benefits to the local economy. Given strong tourism growth in China, the impacts of large increases in new hotel investment in China warrants further investigation. A regional computable general equilibrium model was developed to empirically examine the economic impact of large hotel investment in the Hainan province, China. The net economic impact of hotel investment on gross domestic product and employment were evaluated. The model also investigated sectoral production effects. The results showed that investment in the hotel industry moderately boosts all industry sectors and improves economic output and employment. Transmission mechanisms were identified to provide insights for future hotel investment policies.
摘要
酒店投资常被假设能为地方经济带来许多正面效益。鉴于中国旅游业增长强劲，有关新酒店投资对经济的影响值得作进一步研究。作者建立了一个区域性可计算一般均衡建模，以实证考究大型酒店投资对中国海南的经济影响，并评估酒店投资对国内生产总值和就业的净经济影响。此外，该模型也评估了酒店投资对各行业产生的效应。研究结果表明，酒店投资能适度推动所有行业，提高经济生产和就业。本文亦为未来酒店投资策略提供见解。
Acknowledgment
This research was supported by the National Natural Science Foundation of China (Grant 41601611).
Disclosure statement
No potential conflict of interest was reported by the authors.
Additional information
Notes on contributors
Shanshan Dai
Shanshan Dai is a Lecturer in the School of Tourism Management and Center for Leisure, Tourism and Social Development at Sun Yat-sen University, Guangzhou, People's Republic of China (E-mail: [email protected]).
Honggang Xu
Honggang Xu is a Professor in the School of Tourism Management at Sun Yat-sen University, Guangzhou, People's Republic of China (E-mail: [email protected]).
Stephen Pratt
Stephen Pratt is an Assistant Professor in the School of Hotel and Tourism Management at The Hong Kong Polytechnic University, Hong Kong SAR, People's Republic of China (E-mail: [email protected]).