China is the second largest economy in the world and unquestionably one of the fastest economies in the world, yet it is a developing country and characteristically accessing to official data of banks and SMEs will not easy. The issue of financing has turned out to be the major worry for SMEs in China and duly the issue has come out as a burning policy issue for the government in the country. In the case of China, on the one hand the country has less informational openness due to being a developing country, and on the other hand, due strict regulation under one-part regime restricts easy accessibility of the data. Therefore, this study will examine the structure and access of financing in SMES in China. The study will come out with the result as whether SMEs financing share is positively related to share of small and merged banks in the country; and further whether SMEs financing share is positively related to high share of foreign banks in the country. This will assist the policy makers in China to reform financing policy and structure in China.
Europe has always been considered the land of splendid beauty and serenity. Tourists from across the world come to see the snowcapped mountains of Switzerland, Royal heritage of U.K., cultural heritage of France and Italy etc. The fifteen European Union member countries are the biggest contributors to the world tourism. Approximately, 80 percent of the tourists coming to EU countries hail from within Europe (Mello et.al). However, in the last few years, the overall demand of tourism in EU has been on a downfall. Tourism in EU has shown a decline in the annual growth with fall in the number of trips made and night spent in hotels across all categories. People started looking cheaper accommodation options like paying guests or staying up with relatives or friends. Only domestic holiday trips showed a slight rise of 0.3 percent as compared to that in the year of 2009 (Tourism Statistics,2011). The second half of the year 2010 was relatively better with improved demand of foreign trips. During recession, people preferred taking breaks to domestic locations and therefore domestic trips grew faster. However, 2010 onwards, tourists have started preferring international trips again. Another factor that has resulted in decline in demand for tourism services is the surcharge being charged by airline companies because of the oil price hike. European Union is considered to be safer than other destinations because of political stability and internal peace and better governance. Overall, the tourism industry in EU is on the recovery track but with a low expansion rate. Industry experts are expecting a good business in near future. Tourism industry is interconnected with the hospitality industry. If the tourism industry will benefit with the changing economic scenario then the demand for hospitality services will automatically increase.