Macroeconomic Perspective - Chinese President Era Affecting Chinese Tourist Demand: Case of Thailand

Abstract

This research aims to study macroeconomic factors affecting on tourism demand particular on Chinese tourist arrivals to Thailand. The macroeconomic factors consist of real income per capita, foreign exchange rate, relative consumer price index, unemployment rate, and economic crisis. The study employs multiple regression analysis to analyze the results. The statistical data period is selected from 1993 to 2017. The selected period are divided into 3 pillars along with the Chinese President Era: Mr. Jiang Zemin (1993-2002), Mr. Hu Jintao (2003-2012), and Mr. Xi Jinping (2013-2017). The results show that in the era of President Jiang Zemin (1993-2002): real income per capita and unemployment rate are positively related. President Hu Jintao (2003-2012) era: real income per capita has a positive related. Moreover, in the era of President Xi Jinping (2013-2017), the study finds that foreign exchange rate and relative consumer price index are negatively related. According to the outcomes, paper suggests that Thai government should stimulate Chinese tourism by looking at Chinese policy provided in order to impose the proper marketing strategies and planning proactive market that will meet the needs of Chinese tourists. Related to the “President Chinese Era”, the findings is useful for investigating backward. In the era of President Xi Jinping has shown negative relationship on macroeconomic variables Hence, Thai government should impose some policies that supports on Chinese tourists. Moreover, the government should impose a price-controlling policy so that goods and services in the market cannot be charged too much and worth for spending.