The Industry Driving Effect and Development Strategy of Macao Convention and Exhibition Industry

Abstract

In recent years, Macao's pillar industry-gambling industry has declined. Gambling industry‘s proportion of GDP in 2015 has been reduced to 34%, facing the industrial restructuring and economic adjustment. The exhibition industry, as the leading industry in Macao, is one of the choices to promote the economic diversification and promote the economic transformation of Macao. Based on this, this paper uses exhibition industry data and related index data of the period from 2007 to 2016. Through the cointegration analysis and Granger causality test method, the paper analyzes the driving effect of Macao exhibition industry. The results show that the exhibition industry in Macao has not only stimulated the tourism industry, hotel industry and retail industry, but also has important stimulating and economic effects on other related industries, so as to put forward the strategy of further development of the exhibition industry.

Keywords: Exhibition Industry, Industry - driven effect, Industry linkage, Industrial development strategy.