The Internationalization of Macao's Gambling and Tourism Industry

Chen Guanghan

Abstract: To become a world center of tourism and leisure is apromising goal set by the central government for Macao. The promotion of International level standard of its gambling and tourism industry to become such a center is on top of Macao's priority list. According to the development of gambling industry after the return of Macao, there should be three stages for globalization of Macao's gambling and tourism industry. First step, internationalization of capital. This step is accomplished by opening its gambling industry after the return. Second, internationalization of business management. The inflow of foreign capital brings experience of international business management, which is increasing the business management level of Macao in the realm of gambling industry. Finally, Internationalizton of tourism market, which means development of international market and attraction of foreign tourists. Consistent with our empirical study on its globalization of capital and market, we consider the basic issue of Macao's gambling and tourism industry stems from the conflict between the globalization of capital and its domestic tourists. To solve this problem, Macao should try to attract more international tourists, and to enhance regional cooperation as well as increasing international competitiveness of its gambling and tourism industry.

Keywords: Macao; Gambling and Tourism Industry; International Capital; International Tourism Market