| In the march of a country's economy opening, currency exchange rate do effectstrongly many national economic fields. In recent years, although some westerncountries' economy keep low situation, our China's economy keeps upgrading.On 21July2005, People's Bank of China announced a brand new policy about CNYcurrency (RMB), which presented the currency rate of RMB would not follow USD anymore, but can be managed and adjusted according to the fluctuation of the packagecurrencies and the market needs , the rate was also changed into 1:8.11 as the bankingtransaction middle price of the following day. This change raised a new wave, andpushed our Travel & Tourism Economy to be a hot topic again.From 1949 to 1978, People's Republic of China came into Beijing to Economyopening, within these nearly 30 years,our national Travel Economy didn't realize herreal economic function. Until 1978,the decision of Economy Reform and Openinghelped Chinese Travel Industry into a formal Industry. During 1978 to 1991, governmentclarified our national Travel and Tourism activity's economy function, Inbound Travelbusiness got a rapid development, Travel and Tourism Industry has become into a morepart of social economy. From 1992 to now , our National Travel and Tourism Industryrealized a formal development,Inbound, Outbound, Domestic 3 stable markets. By theend of 2005,31 Million Chinese citizen enjoyed Outbound Travel ,120 million foreignInbound Travel guests visited China,the whole Travel and Tourism Business Incomeachieved CNY765 billion。Recently, both Domestic Travel Companies and InternationalTravel Companies had a great development in our China, this development brought agreat energy to our National Travel and Tourism Industry.Travel Service just means to combine and transfer some natural or cultural info fromone location to another location. During this process, meal, hotel, trans, visit, purchaseand entertainment are all included. Travel and Tourism service is also tradable,so in the international travel process, the RMB currency exchange rate will be sure tobring some effect to these 6 aspects.By now, our Chinese citizen in big cities have good consume ability, RMB'supgrading will be sure to push the Income Flexible Outbound Travel Consume;butmaybe a tiny influence to Inbound Travel Business.Our current Inbound international travel product is still at junior period, not holidayproduct, which is not sensitive to price, so if RMB dropped, our Inbound Travel Businessalso wont have a strong echo. For Outbound Business, generally,only the aboard localservice is related to foreign currency exchange rate, and the local service is less than 40%of the whole Outbound Service. So if RMB currency rate is flexible within only 3%,Outbound Business will have a fair calm increase.Facing such complex currency rate fluctuation influences, Travel industrycompanies experienced problems as : tour fair credit period too long, and etc. Once thecurrency rate changed, Travel Business Companies will feel hard to control the cost andbenefit. To evade unpleasant loss,this thesis suggested some solutions for governmentand enterprises.With the development of our national Economy, government have already changedtheir direct management into industry management. Some practical solution aresuggested in thesis, i.e. further modify Travel Industry Foreign Currency Bank AccountManagement, fairly better travel agencies' develop foreign currency capability.Travel Industry Enterprises should also select several internal and external solutionsto protect cost and benefit, based on some basic currency rate anticipation. For example,flexible to select currency to do quotation, to collect tour fair, adjust price with putting ona safety, take part in a foreign currency rate insurance, and so on.If situation could be improved from both government and enterprises, and propersolutions were taken, the change of RMB currency rate , no matter which direction, bothcould do good to our national Travel and Tourism Industry. |
PDF Full Text Request