An Exploration of Yuan Impact on Chinese Outbound Travel Market to Egypt | ||
| International Journal of Heritage, Tourism and Hospitality | ||
| Article 13, Volume 11, Issue 1, March 2017, Pages 196-204 PDF (521.12 K) | ||
| Document Type: Original Research Articles | ||
| DOI: 10.21608/ijhth.2017.30191 | ||
| Author | ||
| Mohamed Anter | ||
| Abstract | ||
| This paper studies the potential impact of Chinese Yuan (Renminbi RMB) on Chinese outbound travel market to Egypt. For this purpose were field researches conducted; a questionnaire about Chinese outbound travel market in Egypt and interviews with experts in both tourism and financial markets .The collected data was analyzed statistically using SPSS V. 19. The results of the current study indicate that there is little negative impact of Chinese Yuan currency on Chinese outbound travel market to Egypt in the short time and the major benefits in the long time. Also, the devaluation of Yuan will have a significant impact on what Chinese tourists do shopping in Egypt. In addition, the first estimates also indicate that the impact of Yuan is closed to US dollar exchange rates in the short time. The study presents a number of recommendations for government and tourist businesses in Egypt to exploit some opportunities specially in quick applying of swap currency agreement between Egypt and China, legislation issue to control both tourist businesses and financial market in Egypt and all trip items should price in Yuan for Chinese tourists. | ||
| Keywords | ||
| Yuan; Chinese Outbound Travel Market; Egypt; tourism | ||
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