FROM FISHERY TO TOURISM AND CASINO.

As has happened to many other islands, the Penghu Archipelago has, over the years, fallen gradually into decline due to shrinking revenues from the fishing industry. Making matters worse, in spite of abundant natural resources and many governmental subsidization programs, the adverse winter weather and many other weaknesses have slowed down the transformation of this area's economic base from fisheries to tourism. A Strength, Weakness, Opportunities and Threats (SWOT) analysis is applied in this paper to systematically portray the strengths, weaknesses, opportunities and threats involved in redeveloping this area. Governmental actions, including fishery resource rejuvenation projects, infrastructure investment initiatives, composite tourism programs, tax exemptions and attempts to establish the islands as a casino gaming area are evaluated. Scenarios concerning uncertainties and their impacts for potential investors are also elaborated on. [ABSTRACT FROM AUTHOR]