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X’ian tourism leaders urge yuan devaluation
1/7/2009 1:32:00 PM
Leaders of Xi’an’s tourism sector have met in the Western Chinese city to discuss the current economic situation’s affect on the industry. The discussion reportedly focused on the possibility of currency devaluation as a measure to counter the economic gloom.
Tourism in Xi’an accounts for the livelihoods of hundreds of thousands of people, with the city popular with tourists from across the globe as the site of the Terracotta Warriors.
“We certainly hope the government will consider realigning our currency more accurately to account for the severe reductions in foreign countries” said Mrs Liu, China Operations Manager for Xi’an Travel Service. “Like exporters, we are taking a pounding with current rates”
Xi’an has noticed a sharp drop in foreign visitors in a year that was supposed to capitalise on the Olympics to boost revenues. Tourism contributes around 40% of the local GDP, and a major driver in the government’s development strategy for Western China.
Mrs Liu said the Olympic boom never materialised as a result of stringent visa restrictions, and the earthquake in Sichuan, though she was hopeful that next year would see numbers increase again. “We are optimistic but certainly government intervention at this stage would be appreciated”.
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