MarketLineIC TaiwanTravelTourism 030321

MarketLine Industry Profile
Travel & Tourism in Taiwan

November 2020
Reference Code: 0119-2806
Publication Date: November 2020
Primary NAICS: 72
Secondary NAICS: 561510,481111,713210,4821
WWW.MARKETLINE.COM
MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT
AND IS NOT TO BE PHOTOCOPIED
© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1

Industry Profiles
1. Executive Summary
1.1. Market value

The Taiwan travel & tourism industry grew by 4.3% in 2019 to reach a value of $120.9 billion.
1.2. Market value forecast

In 2024, the Taiwan travel & tourism industry is forecast to have a value of $140.8 billion, an increase of 16.5% since
2019.
1.3. Category segmentation

Casino&gaming is the largest segment of the travel & tourism industry in Taiwan, accounting for 32.3% of the industry's
total value.
1.4. Geography segmentation

Taiwan accounts for 4.4% of the Asia‐Pacific travel & tourism industry value.
1.5. Market rivalry

The travel and tourism industry is dominated by large international players across all segments who compete intensely
among themselves and with numerous smaller independent players. This intensifies rivalry.
1.6. Competitive Landscape

The Taiwanese travel and tourism industry comprises a mixture of B2B and B2C industries and markets. For the purpose
of this competitive landscape, the analysis will focus on the travel intermediaries, foodservice and airlines segments.
The foodservice industry is characterized by the presence of a number of large scale multinational companies, including
McDonald’s and Subway, that operate alongside smaller, independent foodservice outlets. The airlines industry is made
up of a relatively small number of large companies, including China Airlines and EVA Airways Corp. The travel
intermediaries market is dominated by large players, including Booking Holdings and Expedia Group.

Industry Profiles
TABLE OF CONTENTS
1. Executive Summary 2
1.1. Market value ................................................................................................................................................2
1.2. Market value forecast ..................................................................................................................................2
1.3. Category segmentation................................................................................................................................2
1.4. Geography segmentation.............................................................................................................................2
1.5. Market rivalry...............................................................................................................................................2
1.6. Competitive Landscape ................................................................................................................................2
2. Market Overview 7
2.1. Market definition .........................................................................................................................................7
2.2. Market analysis ............................................................................................................................................8
3. Market Data 10
3.1. Market value ..............................................................................................................................................10
4. Market Segmentation 11
4.1. Category segmentation..............................................................................................................................11
4.2. Geography segmentation...........................................................................................................................12
5. Market Outlook 13
5.1. Market value forecast ................................................................................................................................13
6. Five Forces Analysis 14
6.1. Summary ....................................................................................................................................................14
6.2. Buyer power...............................................................................................................................................15
6.3. Supplier power ...........................................................................................................................................17
6.4. New entrants .............................................................................................................................................19
6.5. Threat of substitutes ..................................................................................................................................21
6.6. Degree of rivalry.........................................................................................................................................22
7. Competitive Landscape 24
7.1. Who are the leading players in the foodservice industry? ........................................................................24

Industry Profiles
7.2. What strategies do the leading players follow?.........................................................................................24
7.3. How is technology being used by the leading companies?........................................................................25
7.4. Who are the leading players in the airlines industry?................................................................................25
7.5. What strategies do these leading players follow? .....................................................................................25
7.6. What are the strengths of leading players? ...............................................................................................26
7.7. Who are the leading players in the travel intermediaries market? ...........................................................26
7.8. What strategies do these leading players follow? .....................................................................................26
7.9. How has COVID-19 impacted players?.......................................................................................................27
8. Company Profiles 28
8.1. McDonald's Corp........................................................................................................................................28
8.2. China Airlines Ltd. ......................................................................................................................................32
8.3. Booking Holdings Inc ..................................................................................................................................34
8.4. EVA Airways Corp.......................................................................................................................................37
8.5. Doctor's Associates Inc...............................................................................................................................39
9. Macroeconomic Indicators 41
9.1. Country data ..............................................................................................................................................41
Appendix 43
Methodology ...........................................................................................................................................................43
9.2. Industry associations..................................................................................................................................44
9.3. Related MarketLine research .....................................................................................................................44
About MarketLine....................................................................................................................................................45

Industry Profiles
LIST OF TABLES
Table 1: Taiwan travel & tourism industry value: $ billion, 2015–19 10
Table 2: Taiwan travel & tourism industry category segmentation: $ billion, 2019 11
Table 3: Taiwan travel & tourism industry geography segmentation: $ billion, 2019 12
Table 4: Taiwan travel & tourism industry value forecast: $ billion, 2019–24 13
Table 6: McDonald's Corp: Key Employees 30
Table 7: McDonald's Corp: Key Employees Continued 31
Table 9: China Airlines Ltd.: Key Employees 33
Table 11: Booking Holdings Inc: Key Employees 36
Table 13: EVA Airways Corp: Key Employees 38
Table 15: Doctor's Associates Inc: Key Employees 40
Table 16: Taiwan size of population (million), 2015–19 41
Table 17: Taiwan gdp (constant 2005 prices, $ billion), 2015–19 41
Table 18: Taiwan gdp (current prices, $ billion), 2015–19 41
Table 19: Taiwan inflation, 2015–19 41
Table 20: Taiwan consumer price index (absolute), 2015–19 42
Table 21: Taiwan exchange rate, 2015–19 42

Industry Profiles
LIST OF FIGURES
Figure 1: Taiwan travel & tourism industry value: $ billion, 2015–19 10
Figure 2: Taiwan travel & tourism industry category segmentation: % share, by value, 2019 11
Figure 3: Taiwan travel & tourism industry geography segmentation: % share, by value, 2019 12
Figure 4: Taiwan travel & tourism industry value forecast: $ billion, 2019–24 13
Figure 5: Forces driving competition in the travel & tourism industry in Taiwan, 2019 14
Figure 6: Drivers of buyer power in the travel & tourism industry in Taiwan, 2019 15
Figure 7: Drivers of supplier power in the travel & tourism industry in Taiwan, 2019 17
Figure 8: Factors influencing the likelihood of new entrants in the travel & tourism industry in Taiwan, 2019 19
Figure 9: Factors influencing the threat of substitutes in the travel & tourism industry in Taiwan, 2019 21
Figure 10: Drivers of degree of rivalry in the travel & tourism industry in Taiwan, 2019 22

Industry Profiles
2. Market Overview
2.1. Market definition

The travel and tourism industry consists of revenues generated by passenger airlines, passenger rail, foodservice, hotels
and motels, travel intermediaries and casinos and gaming.
The airlines industry comprises passenger air transportation, including both scheduled and chartered, but excludes air
freight transport. Industry volumes are defined as the total number of revenue passengers carried/enplaned
(departures) at all airports within the specified country or region, excluding transit passengers who arrive and depart on
the same flight code. For the US and Canada, transborder passengers departing from either country are considered as
part of the international segment. Industry value is defined as the total revenue obtained by airlines from transporting
these passengers. This avoids the double‐counting of passengers.
The passenger rail sector consists of all passenger transport by 'heavy rail' services, including international, inter‐city,
regional, and suburban trains ("Commuter trains" in US terminology are included). However, light rail, tram/streetcar,
Metro/Subway, and similar trains are not included.
Sector volumes are given in passenger‐kilometers (PKM) and international traffic is counted in the country of origin.
Sector values in the report consist of revenues generated by operating companies through ticket sales, and so exclude
state subsidies.
Foodservice is defined as the value of all food and drink, including on‐trade drinks not drunk with food, for immediate
consumption on the premises or in designated eating areas shared with other foodservice operators, or in the case of
takeaway transactions, freshly prepared food for immediate consumption. Foodservice is restricted to the sale of food
and drink in specific foodservice channels defined below and excludes vending machines.
The food service industry is valued according to total sales of all food and drink (soft and alcoholic) in or through
accommodation outlets, pubs, clubs, and bars, full service restaurants, quick service restaurants and fast food, and
other. The accommodation segment includes food and drinks sales in bed and breakfasts, guest houses, holiday parks,
hostels, and hotels and motels. The pub, club and bar segment includes food and drink sales at nightclubs, private
member and social clubs, and pubs and bars. The other segment includes food and drink sales in leisure venues, such as
visitor attractions; mobile operators, such as vans and other mobile operators; retailers, such as bakeries, convenience
stores, delicatessens, department stores, garden centers, service station forecourts, supermarkets and hypermarkets,
and other retail sales.
Market volume is defined as the total number of transactions.
The hotels & motels industry value consists of all revenues generated by hotels, motels and other accommodation
providers through the provision of accommodation and other services. The total value includes room revenue and non‐
room revenue, including casinos, shops and telecommunication services. The industry is segmented according to the
origin of the revenues (leisure consumers and business consumers). Market volumes are classed as the number of
hotels in a country or region.
Travel intermediaries is part of a business that assists in selling travel products and services to customers. The products
may include airline tickets, car rentals, hotels, railway tickets and package holidays that may combine several products.
The casinos and gaming market consists of all forms of betting and gaming. All values are stated in terms of gross
gaming win. This is the total amount waged by customers minus the total amount paid out to customers as winnings,
but before the payment of any applicable taxes, disbursements to charitable or other causes by games established for
those purposes, or other expenses.
The casinos segment covers all gambling activities carried out within casino establishments, such as card games,
roulette, and slot machines located in casinos. Tips and admission fees are included, but additional revenues such as
sales of food, drink, and accommodation are excluded.

Industry Profiles
The lotteries segment covers all state, private, and charitable lotteries, and includes traditional draws, scratchcard
games, and similar products offered by lottery operators.
The sports betting and related segment covers gambling on the outcome of horse races, football matches, and other
events, and includes gambling services offered by bookmakers and also pari‐mutuel/totalisator operators.
The other segment covers bingo, slot machines located outside casinos, pachinko, etc. In North America, so‐called
'Indian casinos' are covered in this segment, not the casino segment.
Online casino and gaming activity, with the exception of online purchases of lottery entry, is not included. Recreation‐
only slot machines that do not pay out any form of prize are excluded.
The report only includes gaming activities that are legal in the country where they are offered.
All currency conversions were calculated using constant average annual 2019 exchange rates. Figures presented in this
report are calculated applying the "middle path" scenario ‐ this is based on the current situation in countries where the
epidemic burst first, like China as a model countries and the announcements made by governments, stating that the
abnormal situation may last up to six months.
The assumption has been made that after this time the economy will gradually go back to the levels recorded before
the pandemics by the end of the year. It is also assumed that there is no widespread economic crisis as seen back in
2008 due to announced pay‐outs across countries.
At the moment of preparation of this report in April 2020 the economic implications of the lock downs of many
economics are still very difficult to predict as there is no indication how long the pandemics could last, the number of
sectors forced to stay closed and the scale of the governmental' aid involved. At the same time the weight of the
pandemic seriousness is applied on the individual countries in this report based on death to population ratio recorded
in countries.
Majority of the industries will see the decline in volume of the goods and services offered by companies. Usually the
lower demand would cause the decrease the prices level. However, amid many governments’ ordered for many
industries to lock down and so the supply chain is distorted that in great pictures mitigate the results of lower demand.
Applied scenarios differ depending on the individual sector, however generally sectors which involves intensive manual
labor and face to face interaction seem to be hit the most by present situation. On the other hand the internet based
businesses as well as the producers of the vital, subsisted products and services seems to take advantages of the
current events.
For the purposes of this report, the global market consists of North America, South America, Europe, Asia‐Pacific,
Middle East, South Africa and Nigeria.
North America consists of Canada, Mexico, and the United States.
South America comprises Argentina, Brazil, Chile, Colombia, and Peru.
Europe comprises Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy,
Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.
Scandinavia comprises Denmark, Finland, Norway, and Sweden.
Asia‐Pacific comprises Australia, China, Hong Kong, India, Indonesia, Kazakhstan, Japan, Malaysia, New Zealand,
Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam.
Middle East comprises Egypt, Israel, Saudi Arabia, and United Arab Emirates.
2.2. Market analysis

The Taiwanese travel & tourism industry experienced moderate growth overall during the historic period. The industry
is expected to decline by 2.6% in 2020, with moderate rates expected to remain over the remainder of the forecast
period.

Industry Profiles
A record 12 million international arrivals visited Taiwan in 2019 which helped restore demand for hotels which was
impaired in 2018 following political tensions with China which resulted in the number of international arrivals from
China to drop ‐1.53%. China is responsible for the majority of tourism in Taiwan, accounting for a 36.63% share of
foreign arrivals in Taiwan during 2019. Therefore, the loss of Chinese tourism is significant for the industry.
The Taiwanese travel & tourism industry had total revenues of $120.9bn in 2019, representing a compound annual
growth rate (CAGR) of 4.8% between 2015 and 2019. In comparison, the Indonesian and Chinese industries grew with
CAGRs of 6% and 5.8% respectively, over the same period, to reach respective values of $74.2bn and $1,048.7bn in
2019.
Indian tourists have become of particular interest due to the spending power of those who travel abroad, which is said
to be approximately four times that of tourists from China and Japan. Travelers from India are now among the most
sought after due to a swift expansion in numbers and spending. For the Taiwanese industry, efforts to encourage Indian
tourists have so far been met with good responses, helping the industry to overcome the problems caused by a sudden
drop in tourists from China.
Due to the unpredictable relationship between Taiwan and China, the country has made efforts to build relationships
with other Asian countries in order to drive growth in its tourism industry. Taiwan is aiming to become more
accommodating to the Muslim community in order to attract this kind of tourist; for instance, a large number of hotels
in the country are serving halal‐certified food and offering prayer areas. There are a number of popular tourist
destinations in Taiwan which are crucial in driving the demand for hotels & motels leisure segment. Taipei is a popular
destination with attractions such as Taipei 101, the National Palace Museum and Mengjia Longshan Temple being key
drivers of tourism. Other popular attractions include the Taroko National Park, Sun Moon Lake and the Alishan National
Scenic Area; all of which drive demand in the leisure segment.
The casino & gaming segment was the industry's most lucrative in 2019, with total revenues of $39.1bn, equivalent to
32.3% of the industry's overall value. The foodservice segment contributed revenues of $34.0bn in 2019, equating to
28.1% of the industry's aggregate value.
The travel intermediaries segment has become increasingly popular, particularly within the online segment where
businesses are upgrading their technology to detect customer behavior and market upsurge. Moreover, the Casino &
Gaming segment has also grown; Taiwanese betting laws are very strict. It is only legal to bet on approved lotteries and
the sports lottery. Because neither offers good odds, online betting in Taiwan is very popular. Due to restrictions on
gambling, many people travel to venues in Macau to gamble. Taiwan Sports lottery launched in May 2008 and is the
only source for legally betting sports in Taiwan. A 2009 revision to the Offshore Islands Development Act legalized
integrated resorts in Taiwan's offshore islands of Kinmen, Matsu, and Penghu, subject to approval in a referendum by
local voters. A vote on a casino in Kinmen was decisive. Voters rejected plans for a casino by a vote of 21,663 to 2,705
in October 2017.
The performance of the industry is forecast to decelerate, with an anticipated CAGR of 3.1% for the five‐year period
2019 ‐ 2024, which is expected to drive the industry to a value of $140.8bn by the end of 2024. Comparatively, the
Indonesian and Chinese industries will grow with CAGRs of 4.7% and 4.7% respectively, over the same period, to reach
respective values of $93.2bn and $1,318.7bn in 2024.
The COVID‐19 pandemic is expected to cause an industry decline of 2.6% in 2020, with the travel & tourism industry
being the worst affected of all major economic sectors. Lockdown measures have resulted in hotels, motels and
foodservice outlets being closed for a prolonged period of time, while domestic and international travel restrictions
grounded airlines for months on end at the height of the pandemic. Additionally, in this time of uncertainty, consumers
are opting for precautionary measures such as only spending on essentials. As a result, the industry is expected to
suffer for the foreseeable future and its road to recovery will remain uncertain.
Beyond 2020, Taiwan will continue to diversify its tourism sector to attract high volumes of tourist from other countries
and reduce its reliance on Chinese tourism. The country also aims to develop a reputation for warm hospitality, smart
technologies and authentic experiences by expanding and diversifying markets, invigorating domestic tourism, guiding
industry transformation, developing "smart" tourism, and promoting experiential travel.

Industry Profiles
3. Market Data
3.1. Market value

The Taiwan travel & tourism industry grew by 4.3% in 2019 to reach a value of $120.9 billion.
The compound annual growth rate of the industry in the period 2015–19 was 4.8%.
Table 1: Taiwan travel & tourism industry value: $ billion, 2015–19
Year $ billion NT$ billion € billion % Growth

2015 100.3 3,098.4 89.5
2016 105.2 3,250.3 93.9 4.9%
2017 111.1 3,432.1 99.1 5.6%
2018 115.9 3,580.0 103.4 4.3%
2019 120.9 3,735.6 107.9 4.3%
CAGR: 2015–19 4.8%

SOURCE: MARKETLINE MARKETLINE
Figure 1: Taiwan travel & tourism industry value: $ billion, 2015–19

Industry Profiles
4. Market Segmentation
4.1. Category segmentation

Casino&gaming is the largest segment of the travel & tourism industry in Taiwan, accounting for 32.3% of the industry's
total value.
The Foodservice segment accounts for a further 28.1% of the industry.
Table 2: Taiwan travel & tourism industry category segmentation: $ billion, 2019
Category 2019 %
Casino&gaming 39.1 32.3%
Foodservice 34.0 28.1%
Airlines 25.6 21.1%
Travel Intermediaries 19.7 16.3%
Hotels&motels 1.9 1.6%
Passenger Rail 0.6 0.5%
Total 120.9 99.9%

Figure 2: Taiwan travel & tourism industry category segmentation: % share, by value, 2019

Industry Profiles
4.2. Geography segmentation

Taiwan accounts for 4.4% of the Asia‐Pacific travel & tourism industry value.
China accounts for a further 38.5% of the Asia‐Pacific industry.
Table 3: Taiwan travel & tourism industry geography segmentation: $ billion, 2019
Geography 2019 %
China 1,048.7 38.5
Japan 472.1 17.3
India 205.7 7.5
Taiwan 120.9 4.4
Indonesia 74.2 2.7
Rest Of Asia-pacific 804.5 29.5
Total 2,726.1 99.9%

Figure 3: Taiwan travel & tourism industry geography segmentation: % share, by value, 2019

Industry Profiles
5. Market Outlook
5.1. Market value forecast

In 2024, the Taiwan travel & tourism industry is forecast to have a value of $140.8 billion, an increase of 16.5% since
2019.
The compound annual growth rate of the industry in the period 2019–24 is predicted to be 3.1%.
Table 4: Taiwan travel & tourism industry value forecast: $ billion, 2019–24
Year $ billion NT$ billion € billion % Growth

2019 120.9 3,735.6 107.9 4.3%
2020 117.8 3,639.0 105.1 (2.6%)
2021 124.7 3,851.6 111.3 5.8%
2022 130.1 4,019.9 116.1 4.4%
2023 135.0 4,171.0 120.5 3.8%
2024 140.8 4,349.9 125.6 4.3%
CAGR: 2019–24 3.1%

Figure 4: Taiwan travel & tourism industry value forecast: $ billion, 2019–24

Industry Profiles
6. Five Forces Analysis

The travel & tourism market will be analyzed taking providers of travel and tourism services, encompassing hotels,
restaurants, airlines, and the operators of railways, leisure attractions, and gaming establishments as players. The key
buyers will be taken as consumers of travel and tourism services, including public and corporate customers, as well as
individual end users, and a wide variety of suppliers to the various segments of the travel and tourism industry, for
example fuel providers to airlines, and food providers to hotels and restaurants as the key suppliers.
6.1. Summary
Figure 5: Forces driving competition in the travel & tourism industry in Taiwan, 2019
The travel and tourism industry is dominated by large international players across all segments who compete intensely
among themselves and with numerous smaller independent players. This intensifies rivalry.
Within the industry, where switching costs are negligible and competing on price alone is no longer a key to success,
brand recognition and innovation help to attract first‐time customers and repeat business. Buyers include business and
leisure customers, with the latter becoming increasingly price‐sensitive. Travel agents, which are large buyers, have
augmented bargaining power against other players in the industry.
Suppliers include providers of various goods and services, as well as a qualified workforce. Due to a high reliance on
complex ICT systems and the growing importance of mobile communication channels, some suppliers may exert strong
supplier power.
Entry on a small scale for a new player is possible, but given the importance of brand power and technology to
expansion within each segment, significant capital outlay is required for a large‐scale operation. Regulation and the
limited availability of properties for development may deter new entrants.
A new substitute in the form of private rentals, widely available through online services such as Airbnb, is a potential
threat to the industry.

Industry Profiles
6.2. Buyer power
Figure 6: Drivers of buyer power in the travel & tourism industry in Taiwan, 2019
The travel and tourism industry is a mixture of B2B and B2C. The number of potential buyers is large, although, as they
are non‐essential and relatively expensive, air travel, hotel stays, and visits to restaurants etc. may be out of reach for
less affluent people. Where buyers are numerous, buyer power tends to decrease, as it is less vital for market players to
retain any individual customer.
Foodservice is not essential to buyers, eating out is a leisure experience that can be avoided in difficult financial times.
This means that price has a strong effect on demand and many restaurants and cafés will offer deals and discounts at
off‐peak times to attract customers who would not necessarily be drawn in at full price. Other tactics that foodservice
players use include limited‐time menu items and loyalty schemes through which they offer a reward for repeat custom.
Large players in the foodservice industry invest heavily in brand‐building, particularly in the low‐ and medium‐price
segments.
Some of the services are highly differentiated. On one hand, a major hotel chain will often operate several brands, each
targeting a different market segment, such as ‘economy’, ‘upper midscale’, ‘luxury’ and so on. This is reflected in the
wide variation in room rates. On the other hand, rail travel is less susceptible to differentiation. Often, a particular route
is only available from one or two rail companies offering similar services.
The only differentiation from the point of view of most consumers in the airlines segment is the difference between so
called 'full‐service' (legacy) and 'low‐cost' carriers (LCCs). Low‐cost carriers tend to attract mainly price‐sensitive
consumers. Customers have a fairly high propensity to switch airline if the same (or similar) route is offered at a lower
price. This is a highly price sensitive industry, evidence of this can be seen in the rapid rise of low‐cost carriers.
Switching costs are low or non‐existent for restaurants and leisure facilities. Also, a buyer who stays in different hotels
on different occasions does not incur switching costs. However, altering an advance booking may lead to some costs.
In terms of casinos, buyer power is limited due to strict regulations and the ability of local residents to reject the
construction of such a facility. A 2009 revision to the Offshore Islands Development Act legalized integrated resorts in
Taiwan's offshore islands of Kinmen, Matsu, and Penghu, subject to approval in a referendum. A vote on a casino in
Kinmen was decisive. Voters rejected plans by 21,663 votes to 2,705 in October 2017.
Some of the considerations made by buyers in the travel and tourism industry are heavily affected by the apparent
safety of the place that they wish to visit, and reputation has a large impact on this. Political tensions between countries
may also affect the industry's figures. Recent political tensions between China and Taiwan, which developed in 2015,

Industry Profiles
have reduced the number of Chinese visitors. The number of visitors from South Korea and Hong Kong, among other
Southeast Asian countries, has helped compensate for this loss. This can sometimes be an issue of perception rather
than real safety concerns, but it does have an impact. This is also something that is largely out of the hands of individual
airlines or restaurants, who simply have to deal with the political situation they find themselves in, without being able
to influence it. This is why it can be beneficial to become multinational in this industry.
In regard to hotels, corporate buyers, and travel agents in particular have more bargaining power as a result of their
financial muscle, which is related to the bulk purchase of rooms. Consequently, the loss of a contract with a travel agent
is significant for an industry player. In Taiwan, revenues generated by the leisure segment accounted for 79.4% of the
industry's total value in 2019, with the remaining 20.6% comprised by the business segment. This means that, for the
vast majority of buyers, hotels and motels are a dispensable service that they do not necessarily need, particularly
during periods of economic downturn, thereby increasing buyer power.
The existence of online travel intermediaries increases consumer awareness with regard to price, enhancing buyer
power. Players within this segment are upgrading their technology to detect customer behavior and market upsurge.
Online reviews have a decisive impact on consumer decisions and the ability to easily make cancelations online gives
buyers greater power. Expedia Inc. (Trivago, expedia.com, hotels.com) and Booking Holdings (booking.com, agoda.com,
kayak.com) have eroded the brand appeal of large hotel operators in particular by increasing consumers' awareness of
quality and price.
Buyer power is moderate overall.

Industry Profiles
6.3. Supplier power
Figure 7: Drivers of supplier power in the travel & tourism industry in Taiwan, 2019
There are a range of important suppliers including fuel companies and aircraft manufacturers in the airlines industry,
food and drink suppliers in the restaurants industry, and large numbers of fairly low‐wage employees.
For restaurants, food and staffing costs are significant. There is usually a wide range of potential food suppliers,
although the need for restaurants to source high quality food and drink in order to maintain their own reputation can
strengthen supplier power. Although wage levels are not usually high, foodservice tends to be a labor‐intensive sector.
In countries where minimum wage legislation is in force, supplier power is increased as the employing business's ability
to control pay levels is restricted.
The hotels & motels industry is also labor intensive, staff costs are significant as success is strongly influenced by the
quality of the service provided. This strengthens supplier power. However, advances in check‐in and booking
technologies are reducing the need for high numbers of staff. Additionally, hotel owners might need to service
mortgages on the property, or fund new building developments for expansions.
Among the major chains, the franchising of their brands to third‐party property owners is a very common business
model that allows expansion without the high capital outlay needed to build or acquire the hotels themselves, which
eases supplier power.
Casinos have very specific equipment due to the nature of the games they offer. Tables for games like craps and
Baccarat are necessary and a high level of craftsmanship is required to achieve the required quality and aesthetic. They
also need electronic and mechanical machines as electronic versions of these games on terminals in the casino and
machines like one arm bandits remain popular, particularly among less affluent gamblers. For table games and roulette
wheels, specialists like Cammech and TCSJOHNHUXLEY have forged a strong niche and are seen as go‐to suppliers,
enhancing their power in this segment. Lotteries also have strong incumbents, such as Smartplay International, which
serves over 400 organizations in more than 85 countries.
In the airlines industry, aircraft manufacturers form an oligopoly. Aircraft manufacturing is highly capital intensive and
as such there are very few players in the industry. For large (wide‐body) aircraft there are only two suppliers worldwide,
namely Boeing and Airbus, both of which are huge corporations, creating a duopoly. Other manufacturers such as
Embraer, Bombardier and United Aircraft Corporation (parent company of Ilyushin, Tupolev and Sukhoi) have limited
supply in the civil airlines industry. There are a comparatively large number of suppliers in the small jet market, but
choice is still limited, increasing supplier power significantly.

Industry Profiles
In all segments of the travel and tourism industry, there is little opportunity for vertical integration between suppliers
and industry players, as they operate in very different businesses.
Overall, supplier power is moderate.

Industry Profiles
6.4. New entrants
Figure 8: Factors influencing the likelihood of new entrants in the travel & tourism industry in Taiwan, 2019
The ease of entry into the travel and tourism industry varies significantly between segments. The threat ranges from
weak in the airlines and passenger rail segments to strong within the restaurant and hotel segments, which are within
the reach of small businesses.
Barriers to entry are likely to be lowest in the restaurants and hotels and motels segments. While large national and
multi‐national chains exist, the industry is fragmented, indicating that it is possible to operate successfully on a small
scale. It is common for independent establishments to be small, family‐run businesses, which may acquire a hotel with
a bank loan or mortgage, or rent restaurant premises. Little training is required, and regulation is not onerous.
The foodservice industry is highly regulated and is subject to strict regulations on matters of food hygiene. Although
compliance imposes costs, many aspects of hygiene require good working practices rather than costly expenditure on
equipment. Such costs can be externalized to some extent, perhaps by only recruiting key staff members that have
already completed the appropriate training.
The Taiwanese foodservice segment has experienced strong growth in recent years, a trend which expected to
continue in the forecast period. The health trend has caught on in Taiwan and consumers there tend to display a
preference for healthier, lighter meals that contain low sugar and fat. Younger consumers are opting for cheaper and
quicker options and this has encouraged growth in the quick service restaurant and fast food segment, which may
prove enticing to potential new entrants.
Successful entry into the airlines or passenger rail industries requires considerable capital, as new entrants must buy or
lease planes or trains. Regulation is stringent and complex. Civil aviation authorities have licensing rules for employees,
aircraft safety, access to airports and flight paths, and compliance is costly. In the rail industry, there may be a legally‐
protected monopoly, or long‐term concession allocations that make it impossible for a new company to enter the
market until a concession expires. There are instances of airlines that carry considerable financial backing from other
industries, states themselves or that are very successful, muscling out traditional state carriers and succeeding in
market entry.
Taiwanese betting laws are very strict. It is only legal to bet on approved lotteries and the sports lottery. Because
neither offers good odds, online betting has become very popular. Due to gambling restrictions, many people travel to
venues in Macau to gamble. Laws demanding the consent of locals living in areas where the construction of a casino is
planned make the entry barriers exceptionally tough.

Industry Profiles
According to the World Economic Forum's 'Travel and Tourism Competitiveness Report 2019', Taiwan ranks 37th out of
140 countries. The Taiwanese industry benefits from price competitiveness regarding taxes and purchasing power, as
well as developed infrastructure. Due to the unpredictable relationship between Taiwan and China, the country has
made efforts to build relationships with other Asian countries in order drive growth in its tourism industry.
Regardless of the factors mentioned above, the likelihood of any new players entering the foodservice segment in 2020
is highly unlikely due to the economic uncertainty which has been brought about by the COVID‐19 pandemic. With even
some of the largest chains suffering financially, this instability is likely to deter any potential new entrants for the
foreseeable future. A similar trend is expected to occur in the airlines segment. Although the industry is expected to
rebound and recover over the forecast period, its future remains uncertain and it is likely that conditions will remain
challenging even for the largest players. As a result, new entrants are unlikely.
Overall, there is a moderate threat of new entrants.

Industry Profiles
6.5. Threat of substitutes
Figure 9: Factors influencing the threat of substitutes in the travel & tourism industry in Taiwan, 2019
The main substitutes for leisure travel and tourism are other types of leisure pursuits. For people who want some time
away from home, these include self‐catering holidays such as camping. Driving could be seen as a substitute for air and
rail travel. These 'homemade' options are likely to be cheaper than the services offered by the travel and tourism
industry, although there may be switching costs, such as the need to buy equipment. The continued popularity of this
kind of holiday indicates that, for some, they are considered as beneficial alternatives.
One strategy adopted to deal with these types of threats is to sell an experience, as well as food and drink. Restaurant
chains may achieve this through investments in brand building and advertising. Independent, full service restaurants
may develop a more individualized identity, perhaps focusing on the influence of a particular style of cooking.
A substitute becoming increasingly threatening to the hotels and motels segment are online services such as Airbnb,
FlipKey and Couchsurfing. Markedly, the Airbnb listings of available accommodation worldwide as of October 2020
reached over seven million, greater than that of the five largest hotel brands combined. The International Hotel &
Restaurant Association describes these services as partially unfair to competition, but they have proven extremely
successful. The nightly price for an Airbnb in Taiwan ranges from low to high, meaning that there is an appeal to a range
of buyers. This represents a significant substitute threat to traditional hotel & motel operators and they are reacting by
rolling out brands to attract millennial consumers who typically favor Airbnb.
The threat of substitutes is assessed as strong.

Industry Profiles
6.6. Degree of rivalry
Figure 10: Drivers of degree of rivalry in the travel & tourism industry in Taiwan, 2019
Some of the leading players within the industry include China Airlines, Fullon Hotels, Star Travel, and McDonalds, which
benefit from economies of scale and recognizable brands.
With the exception of a number of large, multinational chains, many competitors in the foodservice industry are small
to medium businesses, although there is a very large amount of them. Thus, within any segment in this industry, there
are numerous companies with similar structures, offering similar products at similar prices. As consumers incur no
switching costs when changing their foodservice providers, rivalry is intensified among players.
Price‐brand discrimination is a key competitive strategy followed by large hotel operators, based on which they are able
to operate in the various industry segments. Interestingly, the financial figures of the largest international hotel
operators reveal that the wider the price‐brand discrimination, the higher the profit markup. Accor implements this
strategy by operating budget ibis hotels, midscale Mercure and Novotel variations as well as its luxury Sofitel brand. IHG
also adopts a brand discrimination model through its Intercontinental, Crowne Plaza and Holiday Inn brands. Similarly,
Marriot and domestically‐based Formosa International also adopt a brand differentiation strategy that ranges from
luxury (JW Marriott, Ritz‐Carlton, Regent, and Silk Place) and mid‐to‐upscale (AC Marriott and Just Sleep) propositions.
Another domestic player, Fullon Hotels, has vertical integration as a subsidiary of a property development
conglomerate.
Airlines generally own most of their planes, although some will be leased. These costly assets must be divested in order
to exit the industry. Similarly, where hotels or restaurants own their real estate outright, it may be difficult to sell
without loss if property prices have declined. Where assets are leased or rented, market exit may be more
straightforward, and rivalry eased.
Players in each segment tend to be strongly focused on that specific sector. The lack of diversification means that
success in that industry segment is vital, which tends to boost rivalry. The small, independent restaurants and hotels are
constrained to a single location, and thus are strongly affected by the economic conditions in that country. The rise of
third‐party accommodation booking websites may be beneficial to small hotels because they give them easy access to
customers from beyond their own country. Larger foodservice and hotel chains often have a physical presence in
several countries. By decreasing their reliance on a single geographical market and its business cycle, these factors can
ease rivalry.
Some airlines have diversified into offering other associated travel services but most only focus on air travel.
Diversification into freight can be another revenue stream and most major airlines already do this. Moreover, many

Industry Profiles
airlines tend to bundle their services by offering hotel bookings and car rentals, gathering commission fees added to
ancillary revenues.
Individual consumer experiences are evolving as technology becomes increasingly integrated with ordering processes
within the foodservice segment. A problem with bustling fast‐food chains is that many customers are stood waiting in
queues. McDonald’s has helped to solve this problem by introducing touchscreen kiosks which eliminate the need to
relay an order to a member of staff at a desk. Not only does this make customized orders easier but means new
customers are less likely to be deterred by allowing them more space and time to decide upon an order. By offering a
differentiated service, McDonald’s is able to establish an edge over its competitors.
End user tastes are changing, particularly where younger travelers are concerned. Just having a nice hotel in a good
location is no longer enough, therefore, it is important that players adapt in order to remain competitive. The so called
‘instagramability’ of a location is a factor influencing where millennials wish to travel and so are the facilities that are
included within the hotel. By diversifying service or product offerings, leading players are able to appeal to a wider
consumer base, which can help position them ahead of rivals.
Due to the problems many governments around the world are encountering concerning obesity, especially childhood
obesity, fast‐food chain restaurants have come under sustained pressure from lobbyists, government departments and
consumers to reduce the harmful impacts of their most famous dishes and provide healthier alternatives on the menu.
Consequently, chains such as McDonald’s now have a sub‐section on the menu of foodstuffs that are less than 400
calories and have in recent years expanded offerings of salads and dishes that fall outside of the traditional burger. Such
changes are important to maintain social relevance and remain competitive amongst consumers.
High storage costs for physical products increase rivalry, because failure to sell inventory increases costs and decreases
profitability. In the travel and tourism industry, the analogous situation is the cost of operating a train or airliner with
empty seats or maintaining unoccupied rooms in a hotel. Because a hotel is not only offering a room, but a defined
period of occupancy, it is in a similar situation to a greengrocer selling perishable fruit and vegetables. Some companies
in this industry act as wholesalers, selling block‐booked rooms to consolidators which then retail them to consumers.
The hotel may get a lower price than in a direct booking, but the consolidator then assumes the risks of selling this
perishable product.
In the digital age, it has become crucial for players within the travel and tourism industry to invest in effective cyber
security measures, due to the sensitive nature of the information they possess. Security breaches can be harmful to a
company’s image, therefore, it is important that measures are taken to prevent this happening in order to maintain
trust amongst consumers. In September 2018, Marriot, a leading global player within the hotels & motels segment
discovered that the personal details of 500 million guests collected under its newly acquired Starwood chain was
breached. The cyberattack is believed to have been carried out by the Chinese Ministry of State Security.
Healthy growth during the historic period in Taiwan has alleviated the degree of rivalry between players.
Overall, the degree of rivalry is moderate.

Industry Profiles
7. Competitive Landscape
The Taiwanese travel and tourism industry comprises a mixture of B2B and B2C industries and markets. For the purpose
of this competitive landscape, the analysis will focus on the travel intermediaries, foodservice and airlines segments.
The foodservice industry is characterized by the presence of a number of large scale multinational companies, including
McDonald’s and Subway, that operate alongside smaller, independent foodservice outlets. The airlines industry is made
up of a relatively small number of large companies, including China Airlines and EVA Airways Corp. The travel
intermediaries market is dominated by large players, including Booking Holdings and Expedia Group.
At the top end of the foodservice industry, restaurant franchising is common. Food delivery is becoming a key growth
strategy in this industry, with the proliferation of online delivery platforms, while industry players are adapting to new
technology and changing consumer trends.
7.1. Who are the leading players in the foodservice industry?

Established in 1998, there are now more than 700 Bafung Yunji stores in Taiwan, making it the industry leader and the
number one brand of specialized dumpling franchise store in Taiwan. All the company’s dumplings are freshly hand‐
made every day on site, with strict quality time control. Bafung Yunji insists its stores must achieve the essential taste
quality of “Fresh, Delicious, and Crispy”.
McDonald's Corp (McDonald's) is a foodservice retail chain operator and a leading player in Taiwan. The company
operates and franchises McDonald’s restaurants, which serve a locally‐relevant menu of food and beverages. Its menu
offering includes hamburgers and cheeseburgers, chicken sandwiches, chicken nuggets, wraps, French fries, salads,
oatmeal, shakes, desserts, sundaes, soft serve cones, pies, soft drinks, coffee and other beverages.
Doctor's Associates Inc (Subway) is an operator of quick service restaurants and one of the leading players in Taiwan.
The company conducts business operations under the Subway brand. It offers a wide variety of hot and cold subs,
sandwiches, salads, sides, fresh breads, wraps, veggies, toppings, desserts, cookies and beverages. It also provides
catering services.
Mos Food Services Inc (Mos Burger) is a multi‐brand restaurant operator based in Japan. It is primarily involved in the
operation of restaurants under various brands such as Mos Burger, MOS Café, Mother Leaf Tea Style, Mother Leaf,
Chef’s V, Green Grill, AEN, Mosdo.
7.2. What strategies do the leading players follow?

Operating a franchised business model is a key strategy employed by the leading players in this industry. Essentially,
operating a franchised model means that the leading players are selling their brand name and reaping the financial
benefits from royalties, which are often paid as a percentage of sales. The day‐to‐day running of such restaurants is the
responsibility of franchisees. In this way, companies can expand without the overheads of premises or staffing costs. As
of 2019, McDonald’s restaurants worldwide were 93% franchised, with the company keen to become 95% franchised in
the long‐term.
Subway offers a wide choice of food options to attract and retain its customers and enhance its brand value. It offers a
range of sandwiches including the black forest ham, cold cut combo, meatball marinara, roast beef, spicy Italian,
Subway club, veggie delite and turkey breast sandwiches. It also offers a complete range of salads such as tuna salad,
roast beef salad, turkey breast salad, veggie delite salad, Subway club salad, Italian B.M.T salad, and meatball marinara
salad. It also sells sides and drinks, cookies, coffee, apple sauce, iced tea, fountain sodas, and chips. The company
provides catering services and nutrition information about each of its products.
A strategy that is currently being used by a number of players in this industry is food delivery, with a number of
foodservice companies partnering with online delivery platforms.

Industry Profiles
7.3. How is technology being used by the leading companies?

Foodservice is an industry that for a long time relied upon more or less the same methods of selling and delivery, but
technology has had a transformative impact. Product innovation has been somewhat speedy. Major brands are
investing heavily into creating online and mobile platforms that make products exciting and attractive to consumers.
Food has never been so convenient and the encroachment of technology into a buying experience that formerly only
involved at most a phone call is beginning to dominate.
McDonald’s has been focusing on the ease and efficiency of ordering with the introduction of self‐ordering checkouts.
The company has been installing these checkouts in 1,000 stores per quarter throughout 2018 and 2019, with the aim
being to have this fully integrated across all McDonald’s stores. At a number of stores, customers can be served at their
table after placing their order at the counter, digital kiosk, or through a member of staff with a tablet. In October 2019,
the company acquired Dynamic Yield Ltd, a leading company in personalization and decision logic technology. This
acquisition has helped the company to be one of the first companies to integrate decision technology into the customer
point of sale at brick and mortar locations. This decision technology was tested by the company in several US
restaurants in 2018. In FY2020, the company implemented this decision logic technology in more than 11,000 US drive‐
thrus via outdoor digital menu boards. It also plans to integrate the technology into all of its digital customer experience
touchpoints, such as McDonald’s Global Mobile App and self‐order kiosks.
7.4. Who are the leading players in the airlines industry?

China Airlines Ltd. (CAL) is a provider of air passenger and cargo transport services and the leading player in Taiwan. The
company also provides other services, including mail and ground services, aircraft maintenance services, the
maintenance of flight equipment, communications and data processing services to other airlines. The company
operates a fleet of passenger aircraft that fly across Asia, Europe, the Americas and Oceania and cargo aircraft across
Asia, Europe and the Americas.
Eva Airways Corporation (Eva Air), a subsidiary of Evergreen Group, is a provider of airline travel services. The company
provides passenger and cargo air transportation services in domestic and international markets. It offers catering
services, ground handling services, travel agencies, investments, the manufacturing and maintenance of aircraft parts,
flight training, and in‐flight duty free sales.
7.5. What strategies do these leading players follow?

CAL, in recent times, has entered into strategic collaborations to strengthen its market position. In January 2017, CAL
announced a collaboration with Airbus and Aerospace Industrial Development Corporation. This helped CAL to upgrade
maintenance, engineering, and technical training capabilities. It provided services to Asian A350 airliners visiting
Taiwan, which is a long‐term development opportunity for China Airlines. Furthermore, the company is also working
with information exchange services in collaboration with major domestic travel agencies. Such travel agencies can
quickly receive booking record change information for their tour groups and directly update group participant numbers.
This will enable CAL to adjust seat reservations, thereby increasing the efficiency of information exchange and
employee productivity. The collaboration is expected to bring a 2–4% increase in tour group passengers in the long‐
term. Such strategic collaboration will help the company to strengthen its position and create opportunities for future
growth. The company is also taking up various strategic initiatives to drive its business further. In 2019, China Airlines
and Chung Yuan Christian University (CYCU) signed a MoU to initiate a research and development platform for the
development and education of civil aviation. In the same year, in June, the company signed a MoU with Airbus to
deploy 11 A321neo aircraft in its future single aisle fleet.
EVA Air focuses on investing in new technology to develop high‐performance, energy‐efficient products. The company,
through R&D, has developed several products, such as self‐check‐in service re‐engineering; EVA mobile APP revision;
new generation air‐cargo system project; new cabin crew scheduling optimizers; a data warehouse platform upgrade
project; a network infrastructure design project; improvement to data center environments; and a Nankan Campus

Industry Profiles
office area network redundancy enhancement project. The company has plans to invest large sums in future research
activities, which include an artificial intelligence chatbot service, website re‐engineering, a air‐cargo pricing
management system, cargo website re‐engineering, and the development of a new revenue accounting system.
7.6. What are the strengths of leading players?

CAL has geographically diversified operations. The company has a balanced revenue mix in terms of revenue generated
from various geographical locations. In FY2019, the company generated revenues from seven geographies, both in the
passenger and cargo segments, which include the Americas, Northeast Asia, Southeast Asia, Europe, Australia, China,
and domestic operations. The Americas contributed 23% of the company’s total revenue, followed by Northeast Asia
(22.3%), Southeast Asia (19%), China (12.4%) Europe (8.9%), Australia (4%), and domestic operations (10.4%). Thus, a
geographically‐diversified presence enables CAL to take advantage of a range of market opportunities while avoiding
over‐exposure to any one market.
7.7. Who are the leading players in the travel intermediaries market?
Booking Holdings Inc is a leading player in the travel intermediaries market. The company is based in Norwalk,
Connecticut, the US and is a provider of online travel and related services. It offers accommodation reservation
services, rental car reservation services, price comparison services, restaurant reservations, airline tickets booking
services, vacation packages and cruise booking services, and travel reservation services. It operates its business under
brands such as Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Booking Holdings provides its
services to consumers and local partners. It provides restaurant operators with restaurant reservation management
and customer acquisition services. The company operates in several countries across Europe, North America, South
America, Africa, and the Asia‐Pacific region.
Expedia Group Inc is another leading player in the travel intermediaries market. The company is based in Bellevue,
Washington, the US and is an online travel company. It provides a wide range of services, which include the booking of
hotel rooms, airline seats, car rentals, and destination services through its travel suppliers. These services are offered
under various brands including Expedia.com, Hotels.com, Expedia Local Expert, Orbitz, ebookers, CheapTickets,
Hotwire.com, Expedia Affiliate Network (EAN), Classic Vacations, CarRentals.com, Travelocity, Wotif Group, and
SilverRail Technologies. Expedia Group serves customers through mobile bookings, alternative distribution channels,
private label businesses, and call centers. The company also has advertising and media businesses and travel
management businesses.
7.8. What strategies do these leading players follow?

Booking Holdings is able to offer a broad array of options to value‐conscious travelers through a combination of the
retail price‐disclosed model and the name your own price (NYOP) model. Booking Holdings developed a unique pricing
system, NYOP, which allows consumers to specify the price they are prepared to pay when submitting an offer for a
particular leisure travel service. The company then accesses databases in which participating suppliers file secure
discounted rates not generally available to the public, to determine whether the company can fulfill the customer's
offer and decide whether it can accept the offer at the price designated by the consumer. This NYOP service uses the
flexibility of buyers to enable sellers to accept a lower price in order to sell their excess capacity without disrupting their
existing distribution channels or retail pricing structures. The company offers price‐disclosed retail services in the US to
its customers to complement the NYOP service. This enables the company to offer a one‐stop shopping solution to its
customers by simultaneously fulfilling the needs of those customers who are prepared to accept the unique restrictions
of the NYOP service in exchange for receiving savings relative to retail prices, and those customers who are less price
sensitive and require the certainty of knowing the full details of their travel itinerary prior to purchasing. Express Deals,
a merchant semi‐opaque, price‐disclosed hotel reservation service at priceline.com, allows customers to check the
price of the room prior to booking but not the identity of the hotel.

Industry Profiles
Expedia Group is able to reach the global market and target a broad range of travelers, travel suppliers and advertisers
due to its strong brand portfolio. In addition, the company offers its travel products and services through the
integration of several business models, which include the merchant model, the agency model and the advertising
model. The company’s brand portfolio includes Expedia, trivago, Travelocity, Egencia, Orbitz, Hotels.com, Wotif Group,
Expedia Local Expert and others. In addition, the company offers consumers reservations for hotels, airline tickets and
rental cars under the Hotwire brand. Expedia.com operates in 30 countries with local websites. Egencia offers services
in 60 countries across Europe, Asia‐Pacific and North America. Hotels.com is a provider of hotel accommodation
services through 90 localized websites in 41 languages. Trivago is an online hotel metasearch company with 55 sites
and apps in 33 languages, and Travelocity provides online travel services across the US and Canada. Orbitz is a travel
portfolio, which includes Orbitz.com, CheapTickets.com and ebookers. Wotif Group is a leading Australian online travel
company, which includes lastminute.com.au, the Wotif.com, and travel.com.au brands in Australia, and Wotif.co.nz and
lastminute.co.nz in New Zealand. The company’s Expedia Local Expert network provides online and in‐market concierge
services, activities, attractions, experiences and ground transportation.
7.9. How has COVID-19 impacted players?

Due to the effects of the COVID‐19 pandemic, many countries have imposed restrictions on movement and are advising
citizens to stay at home. The trend has affected the foodservice industry, especially channels that are normally popular
hangouts. McDonald's, one of the leading brands in the quick service channel, is inevitably being affected by the spread
of COVID‐19.
McDonald's has taken preventive measures to tackle the adverse effects of the pandemic. The company has prioritized
giving choices and flexibility to customers in terms of how they order, get delivery and what payment options they use
during lockdowns. Moreover, the reallocation of resources towards advertising and marketing through various channels
such as digital marketing has also contributed to the rise in positive sentiment for the company.
In the midst of the COVID‐19 pandemic, cleanliness of surrounding and safety while handling food and deliveries has
become more important than ever. Consequently, McDonald's has engaged with Mayo Clinic, an expert in the field of
healthcare, for advice on how to improve its existing cleanliness and safety practices. Mayo Clinic will review and
suggest new measures to support staff and customer safety to mitigate the effects of COVID‐19. Moreover, both
McDonald's and Mayo Clinic will implement emerging scientific practices in infection prevention and control.

Industry Profiles
8. Company Profiles
8.1. McDonald's Corp
8.1.1. Company Overview
McDonald's Corp (McDonald's) is a foodservice retail chain operator. The company operates and franchises McDonald’s
restaurants that serve a locally‐relevant menu of food and beverages. Its menu offering includes hamburgers and
cheeseburgers, chicken sandwiches, chicken nuggets, wraps, French fries, salads, oatmeal, shakes, desserts, sundaes,
soft serve cones, pies, soft drinks, coffee and other beverages. It also offers various breakfast items such as McGriddles,
Sausage McMuffin with Egg, Egg McMuffin, biscuit and bagel sandwiches and hotcakes. McDonald's markets its
products under a wide range of brands including Big Mac, Filet‐O‐Fish, McFlurry, Chicken McNuggets, McMuffin, and
McGriddles. It operates across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. It is
headquartered in Chicago, Illinois, the US.
The company reported revenues of (US Dollars) US$21,076.5 million for the fiscal year ended December 2019 (FY2019),
an increase of 0.2% over FY2018. In FY2019, the company’s operating margin was 43%, compared to an operating
margin of 42% in FY2018. In FY2019, the company recorded a net margin of 28.6%, compared to a net margin of 28.2%
in FY2018. The company reported revenues of US$3,761.5 million for the second quarter ended June 2020, a decrease
of 20.2% over the previous quarter.
8.1.2. Key Facts
Table 5: McDonald's Corp: key facts
Head office: 110 N Carpenter Street Chicago, Illinois, United States

Number of Employees: 205000
Website: www.mcdonalds.com
Financial year-end: December
Ticker: MCD
Stock exchange: New York Stock Exchange
SOURCE: COMPANY WEBSITE MARKETLINE
8.1.3. Business Description
McDonald's Corp (McDonald's) is an operator of foodservice retail chain. The company’s restaurants offer hamburgers
and cheeseburgers, chicken sandwiches, chicken nuggets, wraps, French fries, salads, oatmeal, shakes, desserts,
sundaes, soft serve cones, pies, soft drinks, coffee and other beverages. The company also offers various breakfast
items such as McGriddles, Sausage McMuffin with Egg, Egg McMuffin, biscuit and bagel sandwiches and hotcakes. In
FY2019, the company operated 38,695 restaurants in 119 countries, of which 2,636 were company‐operated and
36,059 were franchised.
The franchise agreements include conventional franchise arrangements and developmental license or foreign affiliates.
Of the total franchises, 21,837 restaurants were franchised to conventional franchisees, 7,648 were licensed to
developmental licensees and 6,574 were licensed to foreign affiliates.
Under the conventional franchise arrangement, the company owns or secures leases for the land and building while
franchisees provide a portion of initial capital in the form of equipment, signs, seating and decor. Under the
developmental license arrangement, licensees provide capital for its complete business operations, comprising the real
estate interest. For this type of franchises, McDonald's receives initial fees upon the opening of a new restaurant or
grant of a new license as well as a royalty based on a percentage of sales. Also, the company owns an equity investment

Industry Profiles
in some of the foreign affiliated markets, which are referred to as affiliates. The company receives a royalty based on a
percentage of sales in these markets.
McDonald’s classifies its operations into three geographic segments: the US, International Operated Markets, and
International Developmental Licensed Markets & Corporate.

Industry Profiles
Table 6: McDonald's Corp: Key Employees
Name Job Title Board

Alistair Macrow Global Chief Marketing Officer Senior Management
Alistair Macrow Senior Vice President Senior Management
Andrew J. McKenna Director Non Executive Board
Catherine Hoovel Chief Accounting Officer Senior Management
Catherine Hoovel Corporate Vice President Senior Management
Catherine M. Engelbert Director Non Executive Board
Christopher Kempczinski Chief Executive Officer Executive Board
Christopher Kempczinski Director Executive Board
Christopher Kempczinski President Executive Board
Daniel Henry Executive Vice President Senior Management
Daniel Henry Global Chief Information Officer Senior Management
Enrique Hernandez, Jr. Chairman Non Executive Board
Francesca DeBiase Chief Supply Chain and Sustainability Officer Senior Management
Francesca DeBiase Executive Vice President Senior Management
Heidi B. Capozzi Executive Vice President Senior Management
Heidi B. Capozzi Global Chief People Officer Senior Management
President International Developmental
Ian F. Borden Senior Management
Licensed Markets
John J. Mulligan Director Non Executive Board
Senior Director, Head of Global Alliance
John Lewicki Management
Marketing
John W. Rogers, Jr. Director Non Executive Board
Joseph Erlinger President McDonald Senior Management
Kevin M. Ozan Chief Financial Officer Senior Management
Kevin M. Ozan Executive Vice President Senior Management
Lloyd H. Dean Director Non Executive Board
Lucy Brady Chief Digital Customer Engagement Officer Senior Management
Lucy Brady Senior Vice President Senior Management
Mahrukh Hussain General Counsel Interim Senior Management
Margaret H. Georgiadis Director Non Executive Board
Mason Smoot Senior Vice President Senior Management
Mason Smoot Strategic Alignment and Chief of Staff Senior Management
SOURCE: COMPANY FILINGS MARKETLINE

Industry Profiles
Table 7: McDonald's Corp: Key Employees Continued

Michael Gonda Chief Communications Officer Global Senior Management
Michael Gonda Vice President Senior Management
Miles D. White Director Non Executive Board
Chief Marketing Officer Chief Marketing
Morgan Flatley Management
Officer
Paul S. Walsh Director Non Executive Board
Senior Vice President Global Restaurant
Piotr Jucha Senior Management
Development and Restaurant Solutions Group
Global Chief Diversity, Equity, and Inclusion
Reggie Miller Senior Management
Officer
Reggie Miller Vice President Senior Management
Richard H. Lenny Director Non Executive Board
Robert A. Eckert Director Non Executive Board
Sheila A. Penrose Director Non Executive Board
Executive Vice President, Global Chief
Silvia Lagnado Management
Marketing

Industry Profiles
8.2. China Airlines Ltd.
China Airlines Ltd (CAL) is a provider of air passenger and cargo transport services. It also provides other services,
including mail and ground services, aircraft maintenance services, maintenance of flight equipment, communications
and data processing services to other airlines. The company operates a fleet of passenger aircraft in Asia, Europe, the
Americas and Oceania and cargo aircraft in Asia, Europe and the Americas. Its passenger services handles international
passenger air transportation, scheduled, non‐scheduled, and charter flights. The cargo services carries out international
cargo, courier, mail, and package transportation. The company also provides in‐flight duty free sales services to the
passengers. CAL also offer services through its cargo freight and other code‐shared services. The company is
headquartered in Taoyuan City, Taiwan.
The company reported revenues of (Taiwanese Dollars) TWD168,444.2 million for the fiscal year ended December 2019
(FY2019), a decrease of 1.3% over FY2018. In FY2019, the company’s operating margin was 1.6%, compared to an
operating margin of 2.3% in FY2018. The net loss of the company was TWD1,199.8 million in FY2019, compared to a net
profit of TWD1,790.4 million in FY2018. The company reported revenues of TWD26,315.5 million for the second
quarter ended June 2020, a decrease of 19.2% over the previous quarter.
8.2.2. Key Facts
Table 8: China Airlines Ltd.: key facts
Head office: No. 1 Hangqin South Road, Dayuan District, Dayuan, TAOYUAN, Taoyuan ,
Taiwan
Website: www.china-airlines.com
Ticker: 2610
Stock exchange: Taiwan Stock Exchange
China Airlines Ltd (CAL) is a provider of air transport services for passengers and cargo. The company also offers in‐flight
catering and in‐flight entertainment service, baggage service, mail service, ground handling services, aircraft
maintenance, flight equipment, sale of aircraft parts, equipment and entire aircraft, leasing aircraft, warehousing and
logistics services and tourism and leisure service.
CAL operates through two reportable segments: Air Transportation and Other.

Industry Profiles
Table 9: China Airlines Ltd.: Key Employees

Chang Young Senior Vice President Senior Management
Chang, Hsieh Gen-Sen Director Non Executive Board
Charles C. Y. Chen Director Non Executive Board
Chen, Han-Ming Director Non Executive Board
Chih-Lung Chou Assistant Vice President-Engineering Division Senior Management
Chih-Wei Li Vice President Quality Assurance Division Senior Management
Chuan-Yi Cheng Director Non Executive Board
Chung, Lo-Min Director Non Executive Board
Gao Xing-Huang Senior Vice President Senior Management
Hsieh Su-Chien Chairman Executive Board
Hsieh Su-Chien President Executive Board
Jia-Min Sun Vice President Maintenance Division Senior Management
Jia-Shi Jong Director Non Executive Board
Jui-Fu Hsiao Assistant Vice President-Maintenance Division Senior Management
Jung-Hui Lee Vice President Engineering Division Senior Management
Ko, Sun-Ta Director Non Executive Board
Kuo-Fu Lee Director Non Executive Board
Kwang-Hung Ting Director Non Executive Board
Shen, Hui-Ya Director Non Executive Board
Su-Ming Lin Director Non Executive Board
Tin-Yu Ting Director Non Executive Board
Wang Chen-Min Senior Vice President Senior Management
Wang Houng Senior Vice President Senior Management
Wang, Shih-Szu Director Non Executive Board
Wei, Yung-Yeh Director Non Executive Board

Industry Profiles
8.3. Booking Holdings Inc
Booking Holdings Inc (Booking Holdings), formerly The Priceline Group Inc, is a provider of online travel and related
services. It offers accommodation reservation services, price comparison, rental car reservation services, restaurant
reservations, airline tickets booking services, vacation packages and cruise booking services, travel reservation services.
It operates business under brands such as Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable.
Booking Holdings provides its services to consumers and local partners. It offers restaurant operators with the
restaurant reservation management and customer acquisition services. The company operates in several countries
across Europe, North America, South America, Africa, and Asia‐Pacific regions. Booking Holdings is headquartered in
Norwalk, Connecticut, the US.
The company reported revenues of (US Dollars) US$15,066 million for the fiscal year ended December 2019 (FY2019),
an increase of 3.7% over FY2018. In FY2019, the company’s operating margin was 35.5%, compared to an operating
margin of 36.8% in FY2018. In FY2019, the company recorded a net margin of 32.3%, compared to a net margin of
27.5% in FY2018. The company reported revenues of US$630 million for the second quarter ended June 2020, a
decrease of 72.5% over the previous quarter.
8.3.2. Key Facts
Table 10: Booking Holdings Inc: key facts
Head office: 800 CONNECTICUT AVE , NORWALK, Connecticut, United States

Website: www.bookingholdings.com/
Ticker: BKNG
Stock exchange: NASDAQ
Booking Holdings Inc (Booking Holdings) is an online travel service network that offers travel reservations and connects
travelers with suppliers of travel services around the world. Booking Holdings offers accommodation reservation
services through its international brands, which consist primarily of Booking.com, Priceline, KAYAK, Agoda, Rentalcars
and OpenTable.
As of December 2019, Booking.com offered accommodation reservation services for more than 2,580,000 properties,
out of which 460,000 were hotels, motels and resorts and 2,120,000 homes, apartments and other unique places to
stay in over 230 countries and territories on its websites and in 40 languages. It also provides in‐destination tours and
activities in over 100 cities in the world.
Through Priceline brand, it offers travel reservation service for accommodations, rental cars, airline tickets, vacation
packages and cruises. Its customers can make retail travel reservations on priceline.com, where they can select all
aspects of the travel itinerary, including the travel service provider and price.
Booking Holdings also operates Kayak, which provides price comparison service or also mentioned as meta search,
allowing consumers to search and compare prices for travel services offered by travel service providers and online
travel companies (OTCs). Currently, Kayak operates in approximately 60 countries, primarily in the US.
Through Agoda.com, the group offers online accommodation reservation service serving consumers in the Asia‐Pacific
region.

Industry Profiles
The company’s Rentalcars.com offers car rental reservation services. It has presence in 60,000 locations throughout the
world, with customer support offered in 40 languages. It also offers pre‐booked taxi and black car services at over 850
airports throughout the world.
The OpenTable provides online restaurant reservation services to consumers and reservation management services to
restaurants.

Industry Profiles
Table 11: Booking Holdings Inc: Key Employees

Brett Keller Chief Executive Officer priceline.com Senior Management
Charles H. Noski Director Non Executive Board
David Goulden Chief Financial Officer Senior Management
David Goulden Executive Vice President Senior Management
Glenn D. Fogel Chief Executive Officer Executive Board
Glenn D. Fogel Director Executive Board
Glenn D. Fogel President Executive Board
James M. Guyette Director Non Executive Board
Jeffery H. Boyd Chairman Executive Board
John W. Brown Chief Executive Officer Agoda Senior Management
Lynn M. Vojvodich Director Non Executive Board
Mirian Graddick-Weir Director Non Executive Board
Nancy B. Peretsman Director Non Executive Board
Nicholas J.Read Director Non Executive Board
Peter J. Millones, Jr. Executive Vice President Senior Management
Peter J. Millones, Jr. General Counsel Senior Management
Robert J. Mylod Director Non Executive Board
Chief Executive Officer KAYAK and
Steve Hafner Senior Management
OpenTable
Sue D'Emic Chief Accounting Officer Senior Management
Sue D'Emic Controller Senior Management
Sue D'Emic Senior Vice President Senior Management
Thomas E. Rothman Director Non Executive Board
Timothy M. Armstrong Director Non Executive Board
Vanessa Wittman Director Non Executive Board
Wei Hopeman Director Non Executive Board

Industry Profiles
8.4. EVA Airways Corp
Eva Airways Corp (Eva Air) is a provider of airline travel services. The company provides passenger and cargo air
transportation services in domestic and international markets. It offers catering services, ground handling, travel
agency, investments, flight training and in‐flight duty free sales. Eva Air manufactures and maintains aircraft, engines
and parts. The company also provides international cargo, express, mail and parcel transportation. It operates aircrafts
including B777‐300ER, A330‐200, A321‐200, A330‐300, B777 F Freighter, ATR72‐600, B787‐10 and B787‐9. The
company operates flights to cities in several countries across Asia‐Pacific, Europe and North America. Eva Air is
headquartered in Taoyuan, Yilan, Taiwan.
The company reported revenues of (Taiwanese Dollars) TWD181,275.3 million for the fiscal year ended December 2019
(FY2019), an increase of 0.8% over FY2018. In FY2019, the company’s operating margin was 5.2%, compared to an
operating margin of 4.9% in FY2018. In FY2019, the company recorded a net margin of 2.2%, compared to a net margin
of 3.6% in FY2018. The company reported revenues of TWD19,288.9 million for the second quarter ended June 2020, a
decrease of 36.2% over the previous quarter.
8.4.2. Key Facts
Table 12: EVA Airways Corp: key facts
Head office: No. 376 Section 1, Hsin-Nan Road, Luchu District, Taoyuan, Yilan , Taiwan
Website: www.evaair.com/
Ticker: 2618
Stock exchange: Taiwan Stock Exchange
Eva Airways Corp (Eva Air), subsidiary of Evergreen Group, is a provider of civil aviation transportation and general
aviation services. The company offers ground service at airports, catering service and air cargo entrepot. It carries out
the maintenance and manufacture of aircraft, engine and parts. The company also provides in‐flight duty free sales and
pilot training. As of December 31, 2019, the company operated 84 aircraft, which includes 33 777‐300ER, 24 A321‐200,
nine A330‐300, five 747‐400 Freighter, three A330‐200, two ATR72‐600, four 787‐9, four 787‐10 and five 777F
Freighter.
The company operates through four reportable business segments, Aviation Transportation, Aircraft Maintenance and
Manufacture, Catering and Other.
The company connects 68 destinations across Asia, Europe, America and Oceania.

Industry Profiles
Table 13: EVA Airways Corp: Key Employees

Deputy Senior Vice President-Operation
Chang Yu-Heng Senior Management
Management Department
Chang, Kuo-Cheng Director Non Executive Board
Chen Yao-Min Senior Vice President Public Relations Senior Management
Executive Vice President Flight Operations
Chen Yeou-Yuh Senior Management
Division
Chien You-Hsin Director Non Executive Board
Executive Vice President Human Resources
Chin-Lung Hsiao Senior Management
Division
Senior Vice President Digital and Information
Chiu Chung-Yu Senior Management
Planning Department
Chuang Shih-Hsiung Executive Vice President Cargo Division Senior Management
Fang Gwo-Shianng Executive Vice President Computer Division Senior Management
Ho Ching-Sheng Chief Executive Senior Management
Ho Ching-Sheng Vice President Senior Management
Senior Vice President Legal and Insurance
Hsu, Hui-Sen Senior Management
Division
Hsu, Shun-Hsiung Director Non Executive Board
Executive Vice President Engineering and
Huang, Sheh-Ming Senior Management
Maintenance Divison
Jang-Tsang Chang Executive Vice President Cabin Service Senior Management
Ko, Lee-Ching Director Non Executive Board
Lee Yi-Chung Senior Vice President Auditing Division Senior Management
Executive Vice President Passenger
Li Shyh-Liang Senior Management
Management Division
Executive Vice President Corporate Planning
Liao Chi-Wei Senior Management
Division
Lin Bou-Shiu Chairman Executive Board
Deputy Senior Vice President-Loyalty
Liu Ying-Chun Senior Management
Marketing Department
Executive Vice President Customer Service
Lu Yu-Chuan Senior Management
Division
Shu-Hui Hsieh Senior Vice President Stocks Division Senior Management
Senior Vice President General Affairs
Soong Allen Senior Management
Department
Sun Chia-Ming President Senior Management
Tai, Jiin-Chyuan Director Non Executive Board
Tsai Ta-Wei Executive Vice President Finance Division Senior Management
Wu, Chung-Pao Director Non Executive Board
Wu, Kuang-Hui Director Non Executive Board
Yeh Shih-Chung Executive Vice President Airport Division Senior Management

Industry Profiles
8.5. Doctor's Associates Inc
Doctor's Associates Inc (Subway) is an quick service restaurant chain operator and franchisor. The company conducts
business operations under Subway brand. It offers a wide variety of fresh breads, veggies, hot and cold subs, salads,
toppings, sandwiches, sides, wraps, toppings, desserts, cookies and beverages. It also provides catering services, which
include sandwich platters, subway meals, giant subs, and cookie platters. Subway provides all the support and training
for its franchisees. The company also offers gift cards, dine‐in, online ordering and take‐away services in its restaurants
operating across the world. It has presence in the Americas, Europe, Africa, Asia‐Pacific, and the Middle East. Subway is
headquartered in Milford, Connecticut, the US.
8.5.2. Key Facts
Table 14: Doctor's Associates Inc: key facts
Head office: 325 Bic Drive , Milford, Connecticut, United States

Website: www.subway.com
Financial year-end: April
Doctor's Associates Inc (Subway) is a franchisor and operator of quick‐service restaurants under Subway brand. The
company’s restaurants primarily offer sandwiches, salads, sides, breakfast, kids’ menu and fresh fit choices. The
company operates over 44,000 restaurants, including 21,000 franchisees in more than 100 countries worldwide.
Subway serves more than seven million sandwiches in a day across the world. It operates outlets in the Americas,
Africa, Europe, Asia‐Pacific, and the Middle East.
The company’s restaurants offer a substantially uniform menu, with a few geographic variations that include hot and
cold subs, breakfast, salads, breakfast, signature wraps, fresh fit, featured, subway sliders, fresh fit for kids, drinks,
soups, side dishes and beverages. Subway’s sandwich menu offerings include black forest ham, chicken and bacon
ranch melt, cold cut combo, Italian BMT, roast beef, steak and cheese, classic tuna, turkey breast, and veggie delite. The
breakfast offerings include bacon, egg and cheese; black forest ham, egg and cheese; steak, egg and cheese; and egg
and cheese. Its kid’s menu features turkey breast, roast beef, veggie delite and black forest ham. Its chopped salad
range includes chicken and bacon ranch salad, black forest ham, cold cut combo, meatball marinara salad, roast beef
salad, spicy Italian salad, and veggie delite salad. Its sides and drinks menu includes chips, cookies, musselman’s apple
sauce, 1% low fat milk, honest kids, Coca Cola fountain sodas, simply orange, X2 sport energy, fruit punch, and coffee.
Its Signature wraps offerings include new sesame‐ginger glazed chicken, new sweet n’ smoky steak and guac, chipotle
southwest steak and cheese, savory rotisserie‐style chicken caesar, cold cut combo, and sweet onion chicken teriyaki. It
also offers breads, toppings and extras, which includes fresh‐baked breads, tasty cheeses, crisp veggies, and flavorful
sauces. The company offers fresh fit menu, which includes a high source of proteins, two veggies and 24 grams of
whole grain. Its fresh fit menu offerings comprise oven‐roasted chicken, roast beef, sweet onion chicken teriyaki,
rotisserie‐style chicken, subway club, and turkey breast.
Subway also offers catering services for corporate meetings and family gatherings. Its catering menu comprises
sandwich platters, giant subs, subway meals, wrap platters, drinks and sides and desserts. Its restaurants also offer
online ordering service.

Industry Profiles
Table 15: Doctor's Associates Inc: Key Employees

Carrie Walsh Chief Marketing Officer North America Senior Management
Chris Carroll Chief Advertising Officer Senior Management
John Chidsey Chief Executive Officer Senior Management
Vice President Global Brand Management and
Len Van Popering Senior Management
Innovation
Mike Kappitt Chief Operating and Insights Officer Senior Management
Mike Kehoe President EMEA, Subway Senior Management
Mike Macrie Chief Information Officer Subway Senior Management
Vice President Field Performance, Global
Tracy Steinwand Senior Management
Operations, Learning and Development
Trevor Haynes President North America Senior Management

Industry Profiles
9. Macroeconomic Indicators
9.1. Country data
Table 16: Taiwan size of population (million), 2015–19
Year Population (million) % Growth

2015 23.5 0.2%
2016 23.5 0.1%
2017 23.5 0.1%
2018 23.5 0.1%
2019 23.6 0.1%
Table 17: Taiwan gdp (constant 2005 prices, $ billion), 2015–19
Year Constant 2005 Prices, $ billion % Growth

2015 519.2 3.9%
2016 538.1 3.6%
2017 558.7 3.8%
2018 581.2 4.0%
2019 605.7 4.2%
Table 18: Taiwan gdp (current prices, $ billion), 2015–19
Year Current Prices, $ billion % Growth

2015 525.0 3.9%
2016 542.2 3.3%
2017 562.7 3.8%
2018 587.0 4.3%
2019 614.5 4.7%
Table 19: Taiwan inflation, 2015–19

Industry Profiles
Year Inflation Rate (%)

2015 1.9%
2016 1.7%
2017 1.7%
2018 1.9%
2019 1.8%
Table 20: Taiwan consumer price index (absolute), 2015–19
Year Consumer Price Index (2005 = 100)

2015 114.2
2016 116.2
2017 118.2
2018 120.4
2019 122.6
Table 21: Taiwan exchange rate, 2015–19
Year Exchange rate ($/NT$) Exchange rate (€/NT$)

2015 31.7747 35.2542
2016 32.2532 35.6977
2017 30.3912 34.3825
2018 30.1502 35.5846
2019 30.8979 34.6190

Industry Profiles
Appendix
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross‐
checked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLine’s in‐house databases
provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in‐house databases of news, analyst commentary, company profiles
and macroeconomic & demographic information, which enable our researchers to build an accurate market overview
Definitions – Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up‐to‐date with the latest industry events and trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
‐ National/Governmental statistics
‐ International data (official international sources)
‐ National and International trade associations
‐ Broker and analyst reports
‐ Company Annual Reports
‐ Business information libraries and databases
Modeling & forecasting tools – MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
then be refined according to specific competitive, regulatory and demand‐related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up‐to‐date

Industry Profiles
9.2. Industry associations
9.2.1. International Air Transport Association (IATA)
Travel Industry Designator Service, 800 Place Victoria, P.O. Box 113, Montreal, Quebec, H4Z 1M1, CAN
Tel.: 1 514 874 0202
Fax: 1 514 874 1753
www.iata.org
9.2.2. International Association of Gaming Regulators (IAGR)
www.iagr.org
9.2.3. International Hotel & Restaurant Association
51 rue Jean‐Jacques Rousseau, 75001 Paris, FRA

Tel.: 33 1 4488 9220
Fax: 33 1 4488 9230
www.ih‐ra.com
9.2.4. World Leisure Association
203 Wellness/Recreation Center, University of Northern Iowa, Cedar Falls Iowa 50614‐0241, USA
Tel.: 1 319 273 6279
Fax: 1 319 273 5958
www.worldleisure.org
9.3. Related MarketLine research
9.3.1. Industry Profile
Global Airlines
Global Hotels & Motels
Global Restaurants
Global Casinos & Gaming
Global Leisure Attractions

Industry Profiles
About MarketLine
In an information‐rich world, finding facts you can rely upon isn’t always easy. MarketLine is the solution.
We make it our job to sort through the data and deliver accurate, up‐to‐date information on companies, industries and
countries across the world. No other business information company comes close to matching our sheer breadth of
coverage.
And unlike many of our competitors, we cut the ‘data padding’ and present information in easy‐to‐digest formats, so
you can absorb key facts in minutes, not hours.
What we do
Profiling all major companies, industries and geographies, MarketLine is one of the most prolific publishers of business
information today.
Our dedicated research professionals aggregate, analyze, and cross‐check facts in line with our strict research
methodology, ensuring a constant stream of new and accurate information is added to MarketLine every day.
With stringent checks and controls to capture and validate the accuracy of our data, you can be confident in MarketLine
to deliver quality data in an instant.
For further information about our products and services see more at: http://www.marketline.com/overview/
Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means,
electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher,
MarketLine.
The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please note that
the findings, conclusions and recommendations that MarketLine delivers will be based on information gathered in good
faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such
MarketLine can accept no liability whatever for actions taken based on any information that may subsequently prove to
be incorrect.

MarketLineIC TaiwanTravelTourism 030321

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

MarketLineIC TaiwanTravelTourism 030321

Uploaded by

Copyright:

Available Formats

MarketLine Industry Profile

Travel & Tourism in Taiwan

Reference Code: 0119-2806

Publication Date: November 2020

Secondary NAICS: 561510,481111,713210,4821

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 1

1.1. Market value

1.2. Market value forecast

1.3. Category segmentation

1.4. Geography segmentation

1.5. Market rivalry

1.6. Competitive Landscape

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 2

1.1. Market value ................................................................................................................................................2

1.2. Market value forecast ..................................................................................................................................2

1.3. Category segmentation................................................................................................................................2

1.4. Geography segmentation.............................................................................................................................2

1.5. Market rivalry...............................................................................................................................................2

1.6. Competitive Landscape ................................................................................................................................2

2.1. Market definition .........................................................................................................................................7

2.2. Market analysis ............................................................................................................................................8

3.1. Market value ..............................................................................................................................................10

4.1. Category segmentation..............................................................................................................................11

4.2. Geography segmentation...........................................................................................................................12

5.1. Market value forecast ................................................................................................................................13

6. Five Forces Analysis 14

6.1. Summary ....................................................................................................................................................14

6.2. Buyer power...............................................................................................................................................15

6.3. Supplier power ...........................................................................................................................................17

6.4. New entrants .............................................................................................................................................19

6.5. Threat of substitutes ..................................................................................................................................21

6.6. Degree of rivalry.........................................................................................................................................22

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 3

7.2. What strategies do the leading players follow?.........................................................................................24

7.3. How is technology being used by the leading companies?........................................................................25

7.4. Who are the leading players in the airlines industry?................................................................................25

7.5. What strategies do these leading players follow? .....................................................................................25

7.6. What are the strengths of leading players? ...............................................................................................26

7.8. What strategies do these leading players follow? .....................................................................................26

7.9. How has COVID-19 impacted players?.......................................................................................................27

8.1. McDonald's Corp........................................................................................................................................28

8.2. China Airlines Ltd. ......................................................................................................................................32

8.3. Booking Holdings Inc ..................................................................................................................................34

8.4. EVA Airways Corp.......................................................................................................................................37

8.5. Doctor's Associates Inc...............................................................................................................................39

9.1. Country data ..............................................................................................................................................41

9.2. Industry associations..................................................................................................................................44

9.3. Related MarketLine research .....................................................................................................................44

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 4

Table 6: McDonald's Corp: Key Employees 30

Table 7: McDonald's Corp: Key Employees Continued 31

Table 9: China Airlines Ltd.: Key Employees 33

Table 11: Booking Holdings Inc: Key Employees 36

Table 13: EVA Airways Corp: Key Employees 38

Table 15: Doctor's Associates Inc: Key Employees 40

Table 16: Taiwan size of population (million), 2015–19 41

Table 17: Taiwan gdp (constant 2005 prices, $ billion), 2015–19 41

Table 18: Taiwan gdp (current prices, $ billion), 2015–19 41

Table 19: Taiwan inflation, 2015–19 41

Table 20: Taiwan consumer price index (absolute), 2015–19 42

Table 21: Taiwan exchange rate, 2015–19 42

© MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED Page | 5