Zhangjiajie Tourism Industry And The Development Of Financial Support For Research

Zhangjiajie City was established and flourished by virtue of its tourism resources, and is rich for the traveling resources. Through almost 20 years development of the establishment of the city, Zhangjiajie tourism industry has been rapidly growing, and spearheading the high-speed local social and economic development. Finance serves as the core of the increase and development of the Zhangjiajie tourism economy, the market-oriented and industry-oriented development of the tourism industry requires extensive and efficient credit activities and financial operations, through the mutually promoted and effectively cooperated between the finance industry and the tourism industry, to protect the continued increasing capital investment and the effective allocation of financial resources.Now financial support for the development of Zhangjiajie tourism industry is still faced with many practical constraints and institutional barriers, and money supply is still inadequate, financial services of institutional arrangements , management, products and business innovation is difficult to catch up the needs of tourism industry's development in time. Therefore, this paper explores the way of financial supporting for the development of tourism industry through analyzing the current situation and constraints of tourism industry's financial support.Theories of the regional economies, the industrial economy, the development economy and so on, reseach methods of literature search and social investigation as well as normative analysis and demonstration analysis are comprehensive used in this paper when analysising.Firstly, based on the related economic and financial theory, the article analyzes the theory of the development of the tourism industry and the theory of financial support which is the theoretical basis.Secondly, analyzing the basic situation of the tourism industry which under the financial support, in combination with the credit market, financial services, capital markets and the development of the travel insurance market. Carrying out the empirical analysis and testing of the inherent relationship between the financial support and the development of tourism industry in the use of Granger causality test and econometric software, and obtained the fomer is the reason for the latter. Expound financial support constraints from the aspects of weak local economic development, obstacles of financial institutions' endogenous mechanism, external financial risks of tourism enterprises and single financing channels.Next, based on the analysis of Zhangjiajie tourism industry's development prospects and combined with earlier research, put forward the basic ideas of financial support from the credit market, financial services, capital markets and the development of the travel insurance market.Finally, proposed specific policies and measures which operated by local government, financial institutions, as well as the tourism enterprises when supporting the development of the tourism industry.