Growth of Tourism Rate in Hongkong Made by Disneyland
A Case Study
Growth of tourism rate in Hongkong made by Disneyland
I. INTRODUCTION
As one of the world's leading international financial centres, Hong Kong’s service-oriented economy is characterised by low taxation, near-free port trade and well-established international financial market. The currency, the Hong Kong dollar, is legally issued by three major international commercial banks, and pegged to the US Dollar. Interest rates are determined by the individual banks in Hong Kong to ensure it is market-driven only and in Hong Kong there is no Central Bank nor any financial system similar to the Federal Reserve System in the US (for more, see Exchange Bank Association) and foreign investments to the financial market in Hong Kong are supervised and inspected by the Hong Kong Monetary Authority when destabilizing factors attempt to hit the financial market of this Special Administrative Region of People's Republic of China. Electronic finance trading is evolutionarily impacting the financial market of Hong Kong. Hong Kong has remained as the world's freest economy, according to Index of Economic Freedom since the inception of the index in 1995. The economy, governed under positive non-interventionism, is highly dependent on international trade and finance and in 2009 the real economic growth fell by 2.8% as a result of the global financial turmoil. Despite the downturn, Hong Kong’s economic strengths, including a sound banking system, virtually no public debt, a strong legal system, ample foreign exchange reserves, rigorous anti-corruption measures and close ties with the mainland China, enable it to quickly respond to changing circumstances. In terms of international comparison, with the most efficient and corruption-free application procedure, lowest income tax and lowest corporate tax as well as abundant and sustainable government finance that the government of Hong Kong consistently upheld the policy of encouraging (and supporting) activities of
Growth of tourism rate in Hongkong made by Disneyland
I. INTRODUCTION
As one of the world's leading international financial centres, Hong Kong’s service-oriented economy is characterised by low taxation, near-free port trade and well-established international financial market. The currency, the Hong Kong dollar, is legally issued by three major international commercial banks, and pegged to the US Dollar. Interest rates are determined by the individual banks in Hong Kong to ensure it is market-driven only and in Hong Kong there is no Central Bank nor any financial system similar to the Federal Reserve System in the US (for more, see Exchange Bank Association) and foreign investments to the financial market in Hong Kong are supervised and inspected by the Hong Kong Monetary Authority when destabilizing factors attempt to hit the financial market of this Special Administrative Region of People's Republic of China. Electronic finance trading is evolutionarily impacting the financial market of Hong Kong. Hong Kong has remained as the world's freest economy, according to Index of Economic Freedom since the inception of the index in 1995. The economy, governed under positive non-interventionism, is highly dependent on international trade and finance and in 2009 the real economic growth fell by 2.8% as a result of the global financial turmoil. Despite the downturn, Hong Kong’s economic strengths, including a sound banking system, virtually no public debt, a strong legal system, ample foreign exchange reserves, rigorous anti-corruption measures and close ties with the mainland China, enable it to quickly respond to changing circumstances. In terms of international comparison, with the most efficient and corruption-free application procedure, lowest income tax and lowest corporate tax as well as abundant and sustainable government finance that the government of Hong Kong consistently upheld the policy of encouraging (and supporting) activities of