Sunday, November 4, 2007

Economic profile of some major Asian countries

As an international management student during my graduate study, I have done some research on some major Asian countries. I would like to share my research with those who are interested in knowing more about Asia.

Asian countries have been experiencing strong economic growth in the past few years. Recent events such as SARS and avian flu had negatively affected the tourism and hotel industry in the region, but China, Macau, and Singapore were quick in responding to the threat and restoring visitors' confidence successfully. The following are some economic indicators of the three countries:

§ Population: 1.3 billion (Central Intelligence Agency [CIA], 2006)
§ GDP growth rate: 9.3% (CIA, 2006)
§ Unemployment rate: 4.2% (National Bureau of Statistics of China [NBS], 2005)
§ Average monthly wage in hotel industry: 1,089 Yuan (NBS, 2005)
§ Visitor arrival: 120 million, a 10% increase from 2004, with Hong Kong, Macao, and Taiwan as the top markets (China National Tourist Office [CNTO], 2006)
§ Tourism receipts: RMB$769 billion, a 12% increase from 2004 (CNTO, 2006)

§ Population: 488,100 (DSEC, 2006)
§ GDP growth rate: 8.9% (DSEC, 2006)
§ Unemployment rate: 4.2% (Government Information Bureau of the MSAR [MSAR], 2006)
§ Average monthly wage in hotel industry: MPO$4,781 (MSAR, 2006)
§ Visitor arrival: 13.8 million, a 13% increase from 2004, with China, Hong Kong, and Taiwan as the top markets (MSAR, 2006)
§ Tourism receipts: Gross gaming revenue was at MOP$45.8 billion, a 8% increase from 2004 (DSEC, 2006)

§ Population: 4.5 million (CIA, 2006)
§ GDP growth rate: 5.7% (CIA, 2006)
§ Unemployment rate: 2.6% (Singapore Department of Statistics [SDS], 2006)
§ Average monthly wage in hotel industry: S$1,406 (SDS, 2006)
§ Visitor arrival: 8.94 million, a 7% increase from 2004, with Indonesia, China, and Japan as the top markets (Koumelis, 2006)
§ Tourism receipts: S$10.8 billion, a 10% increase from 2004 (Koumelis, 2006)

For those who want to find the source of my information, please leave me a comment. I'll be more than happy to share it with you.

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