TITLE:
Study on the Efficiency and the Cooperative Direction of Tourism and Leisure Industry in Guangdong-Hong Kong-Macao Greater Bay Area
AUTHORS:
Lanqi Zeng
KEYWORDS:
Guangdong-Hong Kong-Macao Greater Bay Area, Tourism and Leisure Industry, Grey Correlation, VAR
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.6 No.1,
January
19,
2018
ABSTRACT: The bay area economy is of strategic importance to the progress of the world economy. As an important engine of national reform and opening up, the accelerated development of Guangdong-Hong Kong-Macao Greater Bay Area is an important part of China’s national strategy. Drawing on the experience of the economic development in other successful bay area, it is clear that the construction of the Guangdong-Hong Kong-Macao Greater Bay Area should focus on the tourism and leisure industry. Based on the government statistics, a gray relational model and a vector auto-regression model (VAR) are employed to analyze the efficiency of the Tourism and Leisure Industry in Guangdong-Hong Kong-Macao Greater Bay Area. The results show that the progress of Tourism and Leisure Industry has a great driving effect on the other related industries, and there exists an interdependence between the tourism and leisure industry, GDP and investment in fixed assets within Guangdong-Hong Kong-Macao Greater Bay Area. It suggests that the government should take appropriate measures to promote cooperation and take corresponding industrial policies to boost the development of the Tourism and Leisure Industry in Guangdong-Hong Kong-Macao Greater Bay.