The Dick Pope Sr. Institute for Tourism Studies, Marketing Flyer

This pamphlet describes mission and services of the Dick Pope Sr. Institute for Tourism Studies

Economic Impact Analysis of the Tourism Industry

The tourism industry in Osceola County has undergone some significant changes over the past ten years. The inventory of the accommodation sector increased by more than 20%; the industry became more diversified and complex by a greater number of timeshare properties in the area, the emergence of vacation homes as a prominent market segment and the emergence of convention hotels. The continuing evolution of the tourism industry has kept it a significant player in the economic landscape of the county. The analysis considered the local tourism industry from the perspective of both direct impacts (i.e. employment, value-added and government revenues generated by the local tourism industry and its employees) and indirect impacts (i.e., the employment, value-added and government revenues generated by suppliers to the industry). The analysis confined the tourism industry to three market segments, including hotels, timeshare properties and vacation homes. It excluded the segments of visitors to the 3,667 campsites/RV sites reported by the Kissimmee Convention & Visitors Bureau and those visiting friends and relatives (VFR) due to the difficulties in collecting data related to these segments. Tourism brought in 6.2 million visitors to the area in 2007, which is a 5% increase compared to 2006. The total economic contribution of the tourism sector is estimated at more than $2.7 billion dollars in 2007, generating nearly 47,000 jobs throughout the economy with a total of nearly$1.8 billion in earnings. In addition, it yielded $239 million in taxes for the state and local governments, and$35 million in room taxes. The county received an estimated $15 million dollars from sales tax. The inventory of the lodging industry in the area totals 46,283 units at the end of 2007. The hotel segment contains the largest amount of units (a total of 24,355) followed by the timeshare properties and vacation homes with 8341 and 7811 units respectively. Visitors from the three market segments displayed different spending patterns during their stay and indicating therefore different economic effects throughout the county. The economic contribution of the hotel segment accounted for more than$1.7 billion dollars, generating nearly 27,000 jobs and yielding nearly $155 million in taxes. The average wage was$24,118. The timeshare segment yielded $383 million in economic contribution, generated more than 9000 jobs and produced$28 million in taxes. The average wage for the timeshare for the timeshare industry was $22,471. Finally, the vacation homes segment contributed more$641.5 million to the county economy, yielded over 10,000 jobs, and accounted for $57 million in taxes. The average wage for the vacation homes segment was$22,886 (see Table 1). The average wage for the tourism industry was $23,159

Tourism Specialization and Economic Output in Small Islands

Purpose– This study aims to investigate growth differentials among small islands and the impact of tourism specialization on the growth and the economic performance of small islands. Design/methodology/approach– The study is based on trade theory and uses data from a panel of small islands for 1995-2007. It applies panel regression and standard time series methods combined with a qualitative approach. Findings– Small islands experienced stronger basic patterns of growth than many developed countries, especially where economies of scale are not an issue. The findings further suggest that tourism specialization is not harmful to growth, and, in lieu of technological gaps and resource limitations, tourism specialization is a sound option. Size, a lack of complete sovereignty or independence and export orientation do not seem to affect the variance in the real per capita GDP at a greater degree. Finally, small islands may leverage returns to scale in global markets. Research limitations/ implications– While tourism specialization is assumed to enhance growth, in the case of small island destinations, the study did not formally test whether increased terms-of-trade may be perpetually improved. Practical implications– The study prompted four policy suggestions: small island economies should engage in tourism specialization; small island economies should allocate more resources to the tourism industry than other economic sectors; the success of tourism specialization does not depend exclusively on comparative advantage; and institutional realities and path dependence may play a role in economic performance. Originality/value– The originality of this study lies in the detection of a paradox in mainstream economics that indicates that small islands may not enjoy sustained economic growth. The detection led to a surprising discovery that tourism specialization may propel growth. The value of the study is twofold: theoretical value is added by suggesting a reconceptualization of the construct capital; and, practical value is strengthened in the sense that tourism specialization may only work under a condition where upon tourism offerings command higher prices than other commodities

The Economic Footprint of the Rosen College of Hospitality Management in the Metro Orlando Area

The report documents the economic value of the Rosen College of Hospitality Management (RCHM) to the Metro Orlando area. The purpose of estimating the economic value of the program is to calculate the increased economic activities in the Metro Orlando area as generated by college degree attainment through the RCHM. The report is the result of an assignment commissioned by the Dean of the RCHM. The report assessed the economic impact of the alumni of the College during the period from 2000 to 2012. In that period, more than 5,000 students earned a degree either at the undergraduate or graduate level. The College was able to steadily increase the graduation growth rate, albeit at a slower pace since 2010. The report is premised on a broad focus of the potential economic impact of alumni from the RCHM, i.e., the earned wage when integrated in the labor market. The report did not consider the productivity that college degree holders could spawn in the economy; nor did the report contemplate the social return of higher education. The report follows an economic based approach by only considering the direct and indirect economic effects that the expenditures associated with the wage differentials infuse into the Metro Orlando area\u27s economy. It treats the RCHM like any other firm sans consideration for any spillover effects that higher education may have on a region. The total economic contribution of the College alumni surpassed $531 million. This amount was triggered by the graduate wage totaling$322 million over the period reviewed, which generated spillover effects in terms of $96 million in business transactions of goods and services and$113 million in increased households\u27 income. Additionally, the RCHM also supplies an economically valuable source of labor to the market in the form of interns. Based on the available data, the total economic value of RCHM interns in 2012 was estimated at $17,189,647. The total economic contribution of the RCHM in 2012 (graduates and interns taken together) amounted to$69,263,647. This amount includes $52,074,000 that stems from 789 graduates and 2,676 RCHM internship students that work on average 25.1 labor hours per week as interns. The value of the RCHM is clearly manifested in the sizeable amount of graduates, interns supplying the labor market, the high number of degree attainment and the commensurate economic contribution of the alumni to the Metro Orlando area (Orange, Osceola and Seminole counties)

Cointegration and Causality between Tourism and Poverty Reduction

This study, using cointegration and causality tests, investigates the relationship among tourism development, economic expansion, and poverty reduction in Nicaragua. The results indicate a long-run stable relationship among the three. The causality tests suggest a one-way Granger causal relation between tourism development and economic expansion, and between tourism and poverty reduction, and a bidirectional causal relation between economic expansion and poverty. The nexus of tourism, economic expansion, and poverty reduction is established in the Nicaraguan economy. This result is supported by testing the sensitivity of the Granger causality test under different lag selections along the optimal lag. The empirical evidence points to the potential economic muscle of tourism to seriously tackle Nicaraguan poverty at scale through helping both Nicaragua’s public and private sectors allocate resources to tourism development, resulting in the overall improvement of the economy

Curacao North Sea Jazz Festival: Through The Looking Glass

The study was commissioned by Fundashon Bon Intenshon (FBI), through its sole Director and Founder, Mr. Gregory Elias, and was conducted through an intercept survey on site during the two major concerts on August 30 and 31, 2013. The study was carried out by the Dick Pope Sr. Institute for Tourism Studies (DPITS) of the Rosen College of Hospitality Management at the University of Central Florida. This is the fourth time in a row that the DPITS conducts the study on behalf of FBI. This report documents the economic contribution and the experience of the international visitors attending the Curacao North Sea Jazz Festival (CNSJF). The CNSJF\u27 music pre-eminence and performance is well known and is exposed through multiple publications by the international media. The CNSJF economic contributions provide a major spurt to the tourism sector in Curacao. The 2013 festival featured two major concerts on August 30 and August 31. The current study differs from the previous three reports in terms of the economic impact of the festival in that the focus of attention is only on the spending behavior and impact of the international visitors. The festival\u27s context The 2013 festival was surrounded by uncertainty which affected the attendance to the festival. The confluence of the ongoing recession in the Netherlands and the supply-side constraints in the Curacao tourism industry put pressure on this year\u27s festival. For example, the weak spending behavior of the Dutch market spurred by the economic recession was greatly felt in the attendance at this year\u27s festival. The Dutch economy has shrunk over the past two years and there seems no end in sight regarding its downward trend. The economic recovery is feeble and employment continues to suffer. The weak economy has significantly reduced the vacation intentions of the Dutch (1) to the extent that the Dutch inbound markets have experienced a strong dip in number of Dutch travelers (2). Another unexpected external factor that affected the attendance at the festival was the sudden bankruptcy of the Curacao carrier Dutch Antilles Express (DAE). This bankruptcy significantly affected the accessibility to Curacao from nearby markets such as Aruban festival aficionados. Due to capacity constraints and the short time notice it was not possible to quickly find an alternative carrier to fill the void in the market

Does Discounting Work in the Lodging Industry?

The central intent of this econometric case study analysis is to examine the relationship between discounting room rates and hotel financial performance. The study provides a theoretical framework that investigates the fundamentals of discounting and empirically assesses the efficacy of the discounting process in the lodging industry. The study adopts an error correction model to properly account for the dynamics of the industry. The results indicate that the variables may be modeled as an integrated process and which are linked in the long run and also possess a short-term relationship. The research findings suggest that discounting works both in the short term and the long term only if the discount rate exhibits serial correlation or nonstationary tendencies

Women at a Music Festival: Biological Sex Defining Motivation and Behavioral Intentions

This study aims to assess whether biological sex impacts motivation and experience at a music festival in Curacao and is premised on different consumption behavior induced by biological sex. Differences in motivations and behavioral intentions based on biological sex were observed. The study further revealed that biological sex plays an important role in framing the experience and behavior intentions of the female segment. This finding is relevant as females are becoming an important mainstream at music festivals and travel and leisure consumers. Biological sex as a predictor of motivation and behavioral intentions has wider effects than just increasing demand; it may deeply shape travel and leisure patterns. Failure to consider this finding could lead to dissatisfaction and missed opportunities in product offerings

The Value of Destination Loyalty: Myth or Reality?

Given the growing appeal of the concept of destination loyalty in tourism marketing, it is highly important to investigate the travel expenditures of loyal vs. non- or less loyal visitors. Adopting the behavioral approach to loyalty, this study examines the spending patterns of visitors to Kissimmee-St. Cloud, while comparing between the different loyalty segments: no previous visit, one previous visit, and multiple visits. The analysis is based on an intercept survey conducted by the Kissimmee-St. Cloud Convention and Visitors Bureau∗ (KSCVB, 2006), which yielded a sample of 4,301 visitors. In contrast to the prevalent concept, the results show that first timers spend more than the more loyal segments, both in per-trip and per-day total expenditures. However, the loyalty segments are distinguished in their spending patterns at the destination, when first timers spend more on lodging, food and restaurants, and car rental, and the those with one or more previous visits spend more on gasoline, activities and entertainment, and shopping. The paper ends with an assessment of the contribution of the findings both to the literature on loyalty and to tourism destination marketers

Disclosing the Economic Impact of the Vacation Home Industry on Osceola County: A 2016 Affirmative Report

The purpose of this report is to assess the economic impact of the vacation home segment in the Kissimmee/Osceola area. The report was commissioned by Experience Kissimmee in response to the growing significance of the vacation home segment in the tourist industry of the county. The 2008 report from the Dick Pope Sr. Institute for Tourism Studies (DPITS) of the Rosen College of Hospitality Management at the University of Central Florida served as the baseline for the current DPITS report