A grey correlation analysis of the economic pull effect of Macau's convention industry

Abstract

To support and develop the convention industry has become an important link in Macau's Moderate Economic Diversification Strategy. Adopting the grey correlation analysis methodology, this paper studied the industrial relevancy between the convention industry and the other related industries along the convention industrial chain. The computation results of industrial relevancy show that Macau's convention industry has the biggest pull effect on the gaming industry and the retail industry while the least effect on the tourism industry. This finding reminds Macau that in addition to positioning itself as the “World Center of Tourism and Leisure”, it also needs to make better use of its unique historical and cultural resources to create tailor-made tourist and leisure products for the convention industry in the segmentation market of convention tourism.