Browsing by Author "Lei Z"

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    Analyzing Hong Kong’s Inbound Tourism: The Impact of the COVID-19 Pandemic
    (Elsevier, 5/11/2021) Tsui WHK; Fu X; Chen T; Lei Z; Wu H
    This study empirically investigates the determinants and drivers of Hong Kong’s inbound tourism using data from January 2019 to December 2020. Five of Hong Kong’s major regional tourism source markets are selected: Japan, Malaysia, the Philippines, Singapore, and South Korea. Our empirical results suggest that the COVID-19 pandemic has had significant negative impacts on the tourism and aviation sectors in Hong Kong that are asymmetric in the source and destination countries. In addition, international travel control imposed by the Hong Kong government is often defined according to the pandemic situation in the tourism source countries, Hong Kong’s inbound visitor volume is also significantly affected by the Hong Kong government’s response to COVID-19 infection cases in the tourism origin markets. Our empirical results also suggest that the flying distance to Hong Kong and high tourism costs in Hong Kong reduced visitor arrival demand, whereas increased aviation services and tourism market potential contributed to tourism growth. These results suggest that the tourism industry and government agencies should cooperate to recover when the pandemic is under good control, so that Hong Kong will be regarded as a preferred and safe destination for travelers and visitors. Our study emphasizes the complementarity between pandemic control and tourism recovery. Pandemic control involves extra tests and quarantine requirements on passengers, more vigorous border control. These operational and associated financial requirements call for government support to the tourism and aviation sectors in the early stage of recovery to create a positive feedback loop.
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    Aviation resilience during the COVID-19 pandemic: A case study of the European aviation market
    (Elsevier, 2023-10-05) Su J; Wu H; Tsui KWH; Fu X; Lei Z
    The European aviation industry experienced an unprecedented disruption caused by the COVID-19 pandemic, which may have a profound impact on the industry in the years to come. An investigation of the European aviation market's performance during the pandemic and the recovery pattern is very important. Such an analysis provides an assessment of the aviation industry's actual resilience against large-scale disruptions thus that the sector can be better prepared for future disruptions and challenges. More importantly, it contributes to a better understanding of the best business practices and industry policies in a dynamic aviation environment, and how the aviation industry may sustain growth in the years to come. For these purposes, this study first presents an overview of the European aviation market's performance for the period of 2019–2020. In general, aviation connectivity (airports and airlines) recovered to around 60 % of the 2019 level, but less than 40 % in terms of flight movements at the end of 2020. Second, an ordered Probit model is applied to investigate the driving factors for airport and airline resilience in the European aviation market, respectively. Four key findings are obtained: (i) the number of flights is an important indicator of airport and airline resilience/recovery performance; (ii) higher airline concentration at an airport might have improved the airport's recovery from the COVID-19 crisis. On the airline side, an airline's higher concentration of flights at airports tends to benefit its resilience (iii) the implementation of the airport slot waiver policy, which suspended the “use it or lose it” rules, had positive impacts on airline resilience; (iv) airports with higher shares of full-service airlines (FSAs) services, or more low-cost carriers (LCCs) in service, are better positioned in recovery. There are no systematic differences caused by carrier types. Overall, our study of the European aviation market reveals positive resilience effects of market concentration and firm scale. The findings reveal another dimension in assessing the effects of market concentration and scale, in addition to their implications on competition and market power.