TOURIST AREA LIFE CYCLE STAGE AND THE IMPACT OF A CRISIS

This paper examines the relationship between the tourist area life cycle and the recovery period following a crisis. There have been many studies of the tourist area life cycle theory and its application to the evolution of a tourism destination or resort. While it is clear that a tourism destination follows an asymptotic curve from its inception through development and stagnation, it is not clear how destinations in various stages of the tourist area life cycle are impacted by a crisis. This study focuses on two countries in Southeast Asia (Singapore and Vietnam) that are indifferent stages of the life cycle. The purpose of the study is to examine the relative impact of the SARS epidemic on the visitor arrivals of the two nations. Both ASEAN nations were exposed to the crisis, and the results show that the impact of the crisis, and the resulting recovery, did vary according to the life cycle stage

Hospitality Marketing Mix and Service Marketing Principles

The Concept of Marketing is based on the Premise that Firms Should Determine Consumer Wants and Needs Before Designing Products and Services. This Consumer-Orientation Results in Greater Demand for a Firm\u27s Products and Services and Higher Levels of Customer Satisfaction after the Purchase. Marriott International Followed This Approach in Developing their Courtyard and Residence Inns Hotels. for Example, the Courtyard Concept is Supposed to Attract Business Travelers and Transient Customers Who Do Not Really Like Staying at Hotels (Wind Et Al, 1992; Hart, 1986). the Researchers Recruited Individuals for Focus Groups Representing These Two Market Segments to Determine the Hotel Attributes that Were Most Important to Them. Next, a Tradeoff Analysis Was Performed on a Larger Sample of People from the Target Groups to Determine the Utility, or Value, Placed on Each of the Attributes and its Possible Level. the Final Result of This Study Was the Concept of a Hotel that Would Have a High Level of Appeal to the Target Markets, Created using Consumer Inputs.. the Hotel Possessed All of the Attributes that Were Important to the Target Market in Adequate Levels, at a Price They Were Willing to Pay

Global Pricing Strategy for a Quick-Service Restaurant Chain

The purpose of this paper is to compare prices for a popular quick-service restaurant chain (i.e. McDonalds’) across countries throughout the world using the “Big Mac Index” published by “The Economist.” The index was originally developed to measure the valuation of international currencies against the U.S. dollar. The analysis in this study examines the relationship between the price of a Big Mac and other variables such as the cost of beef, price elasticity, and income. Finally, these relationships are reviewed to draw inferences concerning the use of demand, costs, and competition in setting prices

Consumer Attitudes Toward Travel Risks by Regulatory Focus Orientation and Gender

The leisure travel industry continues to thrive as consumer expenditures on travel have steadily increased. While travel has always carried with it some level of inherit risk, ever-increasing news of safety threats in tourism areas has been a troubling reality. This study sought to examine the importance of risk-related factors in leisure travel planning. A main objective of the study was to explore the role that an individual’s regulatory focus or gender may play in how one assesses various types of travel risk. Study participants, segmented based on regulatory focus and gender, evaluated a series of prospective travel risks. The results indicate that there is a relationship between an individual’s regulatory focus and attitude towards travel risk factors. Gender differences were also observed in the results

Regulatory Focus and Risk Factors in Travel Planning

Pending publicatio

Asymmetric Effects of Cultural Institutes on Trade and Foreign Direct Investment

The Purpose of a Cultural Institute is to Improve International Relations with Other Countries by Promoting Language Familiarity and Cultural Awareness. in Addition, Cultural Institutes Can Provide Additional Business Opportunities that Lead to Positive Economic Side Effects Such as Increases in Trade and Foreign Direct Investment (FDI). in This Study, Gravity Models Were Used to Analyse the Data for the Goethe Institut (Germany), the Cervantes Institute (Spain) and the Confucius Institute (China) to Identify Any Stylised International Patterns of the Documented Economic Effects. the Study Finds Significant Positive Effects on Bilateral Trade and FDI Outflows for All Three Programmes, Along with Two Important (I) the Effects Are Stronger for Non-Advanced Economies and (Ii) the Effects Are Substantially Larger on FDI Than on Trade. These Results Suggest that Cultural Institutes Can Be an Effective Policy Tool in Promoting FDI Outflows, with the Strongest Effect Realised When a Home Country Locates its Cultural Institutes in Host Countries with Developing Economies. Importantly, Results Also Suggest that the Chinese Government\u27s Approach to Extend its Soft Power through Rapid Expansion of Confucius Institutes Worldwide Has Not Been as Successful as the Efforts by the German Goethe Institut in Increasing Trade and FDI

Economic Impact Research: Review of Measurement Techniques in a Special Event

The study’s purpose was to examine and update the research concepts and measurement issues associated with assessing the economic impact of tourism special events. Specifically examined were the issues with the implementation of economic impact studies in regard to: 1) non-attendee analysis; 2) defining “locals” and “non-locals” within a region; 3) the impact of VFRs within the local markets; 4) sampling techniques – including registration versus intercept sampling; 5) the estimation of purchasing within versus outside the region; 6) early versus late registration sampling; and 7) recall – length of time to run EIS post event survey. These measures were associated with the Westfield International Air Show (WIAS) conducted in 2010. Recommendations and findings for conducting a special event economic impact and significance analysis are made

Can Fantasy Football Consumers Rely on Player Projections Found on Internet Websites?

The popularity of fantasy sports has continued to grow over the past two decades, becoming a multi-billion-dollar industry. While the traditional leagues utilize a one-time draft process with subsequent waivers, daily fantasy sports (DFS) involves picking a new team(s) every week. As a result, traditional leagues require participants to predict the long-term (season) value of a player, whereas DFS requires participants to optimize the team value of players on a weekly basis. Therefore, the average DFS participant places a high premium on weekly player projections by “so-called” experts found on fantasy football websites. The purpose of this paper is to compare the weekly projections of a simple model based on cumulative averages with those of two websites (Fantasy Sharks and NFL.com) that incorporate additional skill and knowledge by experts to see if fantasy football consumers can rely on these player projections for their DFS lineups. While none of the models performed particularly well in terms of absolute percentages, one of the “expert” models did perform significantly better overall than the other two models

An Evaluation of the Relative Importance of Tourism for Islands

The purpose of this study was to compare islands and regular countries to determine if islands depend more on tourism in their economies than regular countries. In fact, it is possible that islands depend too much on tourism. A literature review covers the various areas of research regarding island tourism, including economic impact, sustainability, forecasting, and destination management. Data from the World Bank Group was used to form a panel of 140 countries for the period 1995 through 2006. Islands and regular countries were compared on economic factors such as GDP per capita, travel receipts, and travel receipts as a percentage of exports. The results indicate that islands have a lower level of travel receipts than regular countries, but travel receipts represent a higher percentage of exports for islands

Economic Impact and Significance: Additional Insights for Measurement in Special Events

Abstract Special events are an important component of the tourism industry, and they attract visitors to areas where they are hosted. These events have an economic impact and significance in the local host communities, since the visitors will spend money during their travel and visits to these destinations that bring benefits. While substantial effort has been made in the past to measure the economic impact of attractions and destinations, less time has been spent on adapting these measures for the measurement of periodic special events. The purpose of this study is to further examine and update the measurement concepts associated with assessing the economic impact and significance of three different special events. Specifically, this study examined and further the study of these economic impact measurements through the examination and application of EIS measurement techniques to three events in Western Massachusetts: Great New England Air Show, Volleyball Hall of Fame Events, and Westfield International Air Show