Research on the Development Trends and Strategies of China’s Tourism Industry under the Background of RMB Exchange Rate Fluctuations
DOI:
https://doi.org/10.61173/6zyvsr73Keywords:
Exchange Rate Fluctuations, RMB, Inbound and Outbound TourismAbstract
Nowadays, with the globalization continuously deepening, currency exchange rate fluctuations have a far-reaching impact not only on the country’s financial stability but also on its national economy and specific sectors like tourism. This paper delves into the analysis of exchange rate volatility’s impact on inbound and outbound tourism, drawing from past data and literature review. It proposes relevant strategies for businesses, government policies, and industry stakeholders. Findings reveal that exchange rate fluctuations would affect the tourist’s affordability, and have an influence on tourism enterprises’ operations and financing. Both governments and businesses must consider the multifaceted effects of exchange rate fluctuations and implement targeted responses. Future research can also be based on the content of this article to further explore the impact of exchange rate fluctuations on tourism travel among different age groups, and it should refine empirical analyses of various exchange rate indicators, such as nominal and real effective exchange rates, to provide more scientific theoretical support for China’s tourism development.References
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