Does high-speed rail promote the development of tourism? An empirical analysis of 64 cities in China

摘要

There is a growing interest in the effect of high-speed rail on tourism, but prior studies were mostly descriptive analysis and empirical studies are in urgent need to have a better understanding of the correlation. To fill the gap, this study aims to stimulate the discussion on the effect of high-speed rail on the development of tourism, using 64 cities sample across China span from 2000 to 2015 within fix and random effect models. Results revealed that the high-speed rail is the determinant factor to improve tourism in terms of tourist numbers as well as the revenues. As for other potential factors, urban per capita disposable income has strong impact on domestic tourist numbers and total revenues; more star-hotels may attract inbound visitors and thus enhanced the revenues; museums are only attractive for domestic travellers; the exchange rate of USD against RMB negatively affected the tourism revenues. This study shed light on future researches and policy makers.