Economic Impact of Equestrian Events

The Economic Impact of the prodigious Equestrian Events on the tourism and Hospitality Industry in Hong Kong In 8th July 2005, when the secretarial assistant for Home Affairs announced Hong Kongs endorsement by capital of Red China as the host of the 2008 Olympic equestrian event, he expressed his preferimistic anticipation of the frugalal benefits affiliated1. While the economic impact is still non-quantifiable at present, doubtless, the tourism and hospitality industry, which abroad visitors would first get contact with in Hong Kong, is one of the biggest beneficiaries --- from an economic perspective, the industry is poised to thrive. To begin with, in the course of the Olympic equestrian events, a short-term economic influence go out be seen in several tourism components, namely the accommodation, melody and retail sector. In the accommodation sector, the Royal Park Hotel is appoint as the athlete village, whereas the Regal Riverside Hotel is for the accommodation of the judges, the media, and the field of study technical officials as vets2; each of the hotels has 443 and 1. Secretary for Home Affairs. (2005). 2008 Beijing Olympic Equestrian Events relocated to Hong Kong. Hong Kong Home Affairs Department hypertext transfer protocol://www.equestriancommittee.gov.hk/press/pdf/SHAspeech_e.pdf 2. http://www.equestrian2008.

org/chi/NewsDetail.aspx?nid=102 858 rooms respectively3. Full houses would be expected in both hotels4, meaning a guaranteed recall of over a million. Visitors categorized as drop-by travelers from Mainland and equestrian fanatics would in addition pose induced demand shock on the industry5. In appraisal, a large portion of the drop-by travelers would be those who adopt the multi-destination software product tour co-launched by Hong Kong and Mainland6; they usually drop by Hong Kong later visiting the Beijing Olympics, vice versa. Most of these travelers would not opt for 5-star hotels; instead, they are in favor of high tariff B hotels and medium tariff hotels7. According to statistics, during the... If you want to get a full essay, order it on our website: Orderessay

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