Macao's academic book publishing industry: A SWOT and PEST analysis

Abstract

AbstractMacao's academic book publishing industry has a rich history and has grown significantly over the past two decades. This study employs a semi‐structured in‐depth interview to evaluate the current and prospective state of Macao's academic book publishing industry. The SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and the PEST (Political, Economic, Social, and Technological) analysis are used in this study. The strengths of Macao's academic book publishing industry include that requesting an ISBN in Macao is easy and quick under the principle of ‘One Country, Two Systems’ and financial support from the Macao SAR government. However, the industry faces several weaknesses, including an underdeveloped cultural industry, a small seller market and a talent shortage, and less copyright output. Opportunities for the industry exist through constructing a Culture‐based Bay Area in the Guangdong–Hong Kong–Macao Greater Bay Area and developing an international hub for digital trade in the Guangdong–Macao In‐Depth Cooperation Zone–Hengqin. However, Macao's academic book publishing industry is threatened by emerging Internet technologies, such as augmented reality, the metaverse, and ChatGPT. This paper also proposes strategies for future practice, such as taking the initiative to encourage a group of top‐tier publishers to establish branches in Macao and improve publications’ cultural elements. The findings of this study provide valuable insights into the strategic management of Macao's academic book publishing industry and will be of interest to publishers, academic researchers, and policymakers.