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COTRI Yearbook 2012

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Edited By Wolfgang Georg Arlt

China is developing into the biggest international tourism source market in the world. China Outbound Tourism Research Institute (COTRI) presents in the 2012 edition of its yearbook articles from international tourism scientists and practitioners working with the Chinese outbound market. As Chinese are travelling to varying destinations, the Yearbook 2012 covers a number of different geographical regions, from France, Spain, Switzerland and Germany in Europe to East Africa and Taiwan. Important Chinese visitor activities and segments are analysed, including the shopping behaviour of package and self-organised travellers and geographical distribution pattern of first-time and regular visitors. The book deals with the importance of Chinese visitors in several destinations and with successful forms of marketing both from governments and from the private sector – including social media marketing. COTRI Yearbook 2012 offers research results with a strong focus on practical application. Therefore, it is an important source of information for students and researchers as well as for practitioners all over the world.

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Tourism Income Mix:The Role of Chinese Tourists in Kenya’s Hospitality Renaissance. Sandra Rwese

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Tourism Income Mix: The Role of Chinese Tourists in Kenya’s Hospitality Renaissance Sandra Rwese 1 Impact of Economic Crisis on Tourism Development In the advent of the 2008 financial downturn and subsequent Eurozone debt crisis, the global economy was thrown into its bleakest position since the end of World War II. Almost every industry has since suffered the adverse effects of this ongoing economic recession – not least the aviation, tourism, and hospitality service sectors. Over the past three years, these sectors have experienced a major setback, struggling to deal with a dizzying deceleration in banking activities, skilled employment, and consumer spending witnessed across traditional source markets; namely in Europe, Oceania and the Americas. What started as a sub- prime housing bubble, proliferated beyond the shores of the Atlantic, exposing a web of fraudulent monetary trading whose domino effects spilled into banking systems as far as Iceland, Greece, Ireland, Spain, and a string of Eastern Bloc countries. The situation was so overwhelming that a few of the aforementioned nations come close to defaulting their sovereign debts. Studying the origins of this catastrophe, one finds that for several years, banks had “cleverly” repacked and resold unserviceable mortgage loans and stock market derivatives to unsuspecting credit-facilitators both locally and overseas. Due to uncontrolled lending among deregulated capital markets, funds were grossly mismanaged and the result was a colossal reduction in the availability of loans and other critical lines of credit. The fallout had, and still has, a serious blanket effect across whole continents....

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