...area commonly known as the "Caribbean" is located between the continents of North and South America, and east of Mexico. The Caribbean islands loop up in a quarter circle from off the coast of Venezuela (starting with Trinidad & Tobago, then Grenada, and so on) and ending up not far from southern Florida (with the Bahamas and Cuba). The Caribbean has an interesting and sometimes troubled history, and with the different colonial influences (English, French, Spanish, even Portugese and Dutch) there's a vibrant mix of cultures and business environments (Ferguson, 2007). The business environment is constantly changing as time goes by. There are several factors that affect the aspects of the business environment such as benefits, costs, and risks of conducting business. Other factors that the business environment are issues that affect operations, which includes customers, competitors, stakeholders, suppliers, industry trends, regulations, other government activities, social and economic factors and technological developments. There are several Caribbean islands however throughout this paper I will only analyse the business environment of three (3); Barbados, Bahamas, and Cuba. The United Nations Development Programme (UNDP) has ranked Barbados as No. 1 on its Human Development Index in the Caribbean and Latin America. Barbados enjoys a high standard of medicine and health services overall. When it come on to education Barbados has an exceptionally good educational system that...
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...‘The Economics on the Bahamas Junkanoo Carnival’ Seminar Report Paper Wednesday, 11th March 2014 in The Harry C. Moore Library and Information Centre Auditorium at The College of the Bahamas, Mr. Paul Major CEO of the Bahamas National Festive Commission (B.N.F.C) spoke on ‘The Economics of the Bahamas Junkanoo Carnival.’ Mr. Major began his presentation by expressing his past cultural history with Junkanoo, such as his participation in the parade from the age of thirteen up until his early thirties; however, he had a higher love for business. Mr. Major states that the main purpose of the commission is to help cultural persons (participants of Junkanoo every year) make a business of their passion, therefore stimulating employment from the upcoming festival. Mr. Major went on to give information of the persons on the board as well as the structure of the organization. Continued key information shared included the amount of visitors to the islands, Mr. Major explained. Domestic travelers summed up to be an average of twenty-eight thousand two-hundred and fifty persons (28,250); stop-over travelers average some five thousand seven-hundred persons (5,700); lastly, cruiseship passengers averaged at ten thousand three-hundred persons (10,300) during the initial launch of the Bahamas Junkanoo Carnival Festival. Mr. Major made it clear that the aim was to target all groups of travelers to the islands, engage them in participating in the festival, and to also influence them to partake...
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...the local unemployed, a chance to sell their labor for something like the rates they knew were normal on the mainland ... Unknown to them, however, the Bahamas government had agreed to peg local wages for unskilled labor at the rates established in 1936." Quoted from Islanders in the Stream: A History of the Bahamian People (From the Ending of Slavery to the Twenty-First Century) by Michael Craton and Gail Saunders. Causes of the Riot "The June 1st 1942 labor action that began outside the city centre but culminated in a riot on Bay Street was an important event in the country’s history. It spoke to the growing dissatisfaction of the Bahamas’ black majority with the (very real if relatively mild) system of apartheid that hemmed them in politically, economically and socially. It demonstrated the willingness of the hitherto silent black majority to stand up to their colonial masters and the local ruling white oligarchy. It signaled the beginning of the end of second class citizenship for blacks in the Bahamas. Therefore, this riot continues to occupy a unique place in the Bahamian imagination and has helped to cement Bay Street as the important center in the Bahamas." Quoted from "Bay Street and the 1942 Riot: Social Space and Identity Work in the Bahamas" by Nona Patara Martin and Virgil Henry Storr. The fledgling Bahamas Federation of Labour chose Dr Claudius R. Walker to meet with the Duke of Windsor on behalf of the workers following the riots: "The underlying causes for...
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...CHAPTER I INTRODUCTION Background of the Study Fishes are caught essentially for consumption. However, catching fish happens to be a well-known recreational pastime as well. Recreational fishing is also known as sport fishing. The main motive behind recreational fishing is pleasure or relaxation along with competition in some cases. It should not be mixed with subsistence or commercial fishing. While subsistence fishing is for basic survival, commercial fishing is essentially for profit. In some countries, recreational fishing has various rules as well as regulations to follow and enjoy the process. The regulations that are imposed on recreational fishing include the laws and the licensing restrictions that deal with limiting the procedures by which the fish might be caught. The most typical of these restrictions include prohibition in using nets and using hooks that are not into the mouth. The most usual form of such fishing is done with the aid of line, reel, rod, hooks, etc. These devices should be used along with the huge range of available baits. In order to help the individuals in the act of fishing, devices called terminal tackle are also used widely. The devices that are generally considered under terminal tackle include floats, swivels, weights, etc. These devices usually help to complement the bait that is being presented to the target. Sometimes lures, instead of baits are also used in recreational fishing. Some of the enthusiastic individuals insist...
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...Impact of Festivals and Events on a Destination Introduction Events and festivals can be described as the most exciting and fastest growing industry related to leisure, business and travel. These special attractions have a purpose and objective, which in turn, have impacts on host communities, participants and other stakeholders who as Getz puts it, are “impacted” by the outcomes of events (1993). In recent decades, a substantial amount of research has been carried out to examine the impacts of tourism on a destination and, to a lesser extent, events and festivals. Through this work, both positive and negative impacts of events and festivals on a destination have been discovered. Indeed, it is the expected benefits of events, whether economic, social, political or environmental, that is the principal drive underpinning the support for and increasing popularity of events and festivals at the local, national and international scale. Getz also believes that “local and regional events, including business events and conferences can increase visitation and expenditure, reduce seasonality, revitalize the economy, encourage repeat visitation and heighten regional awareness. Added to this, events and festivals can also provide the stimulus for additional infrastructure development in the local area and building community pride” (1993). On the other hand, events almost inevitably incur cost or have negative consequences that, to a lesser or greater extent, serve to reduce one’s net benefit...
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...History of World Tourism The United Nations World Tourism Organization (UNWTO) is the United Nations agency responsible for the promotion of responsible, sustainable and universally accessible tourism. It is the leading international organization in the field of tourism, which promotes tourism as a driver of economic growth, inclusive development and environmental sustainability and offers leadership and support to the sector in advancing knowledge and tourism policies worldwide. It encourages the implementation of the Global Code of Ethics for Tourism[1] to maximize the contribution of tourism to socio-economic development, while minimizing its possible negative impacts, and is committed to promoting tourism as an instrument in achieving the United Nations Millennium Development Goals (MDGs), geared towards reducing poverty and fostering sustainable development. UNWTO generates market knowledge, promotes competitive and sustainable tourism policies and instruments, fosters tourism education and training, and works to make tourism an effective tool for development through technical assistance projects in over 100 countries around the world. UNWTO’s membership includes 156 countries, 6 territories and over 400 affiliate members representing the private sector, educational institutions, tourism associations and local tourism authorities. Its headquarters are located in Madrid, Spain. Grand Tour Modern tourism can be traced to what was known as the Grand Tour, which was a...
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...Topic Name Lecturer Date Executive Summary In view of Cox (2003), coming up with a decision on the holiday destination has been a common challenge among many people. This is so as a result of the number of options that an individual might be faced with. The individual might as well find it challenging to decide on the specific activity that they want to carry out during the holiday, which in cases presents itself with multiple activities which a single destination might not meet. However, the decision matrix gas in great way helped people in the process of decision making. This paper looks at the process of designing a decision matrix and how to evaluate the most likely decision an individual is likely to make, the weaknesses of the matrix and the possible causes of the lack of accurateness of the decision matrix. Table of Contents Executive Summary 2 Introduction 2 Creation of decision matrix 3 Application of compensatory decision rule 8 Analysis of choices 8 Conclusion 10 References 11 Introduction Most people definitely would love to take some time during their holidays season, just to get away from their routine lifestyle; could be work or studies, in order to have fun and enough rest, get to learn new things, partake their favourite hobbies and sports, and take exotic dishes (New Zealand, 2007). All this is a bid to break the monotony that comes with a regular daily course of life that one spends. It therefore implies that if one is to go on vacation, they need...
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...Topic Name Lecturer Date Executive Summary In view of Cox (2003), coming up with a decision on the holiday destination has been a common challenge among many people. This is so as a result of the number of options that an individual might be faced with. The individual might as well find it challenging to decide on the specific activity that they want to carry out during the holiday, which in cases presents itself with multiple activities which a single destination might not meet. However, the decision matrix gas in great way helped people in the process of decision making. This paper looks at the process of designing a decision matrix and how to evaluate the most likely decision an individual is likely to make, the weaknesses of the matrix and the possible causes of the lack of accurateness of the decision matrix. Table of Contents Executive Summary 2 Introduction 4 The 6 holiday options presented to 3 people to choose from 4 Holiday Options Decision Survey for 3 People 5 Application of compensatory decision rule 8 Analysis of Personal Characteristics leading to holiday choices 9 Conclusion 11 References 12 Introduction Most people definitely would love to take some time during their holidays season, just to get away from their routine lifestyle; could be work or studies, in order to have fun and enough rest, get to learn new things, partake their favourite hobbies and sports, and take exotic dishes (New Zealand, 2007). All this is a bid to break the monotony that comes...
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...impacts of the gambling sector on the economy. The cost and benefit analysis performed in this regard also happen to be vague. Keeping in view the intense and detailed discussion which accompanies the launching of casinos, there is a need for an in depth analysis in terms of the economic benefits of the casinos. However, it is quite surprising to notice that there was no major debate or discussion was witnessed when the Jamaica Government took the initiative. There are some expert analysts have called this initiative to question. Some even argue that the public opinion should have also been called for in this regard. During 2008, the government of Jamaica announced that gaming in casinos is going to be introduced to diversify and improve tourism. At the same time, Jamaican Labour Party had also received a lot of support from the opposition. Jamaica had a limited number of slot machines and tables. Considering the fact that the countries that have a developed casino network are making a superior economic progress, the Jamaican Government saw increased potential for growth in the plan. Although the literature dealing with the psychological impacts of gambling is mostly negative, there is a still a great deal of evidence supporting the economic benefits of the initiative. The Prime Minister, Bruce Golding, said in this regard that gambling is already existent in the country. As there are only some small...
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...report demonstrating the extents in which Bank of The Bahamas went through in order to survive during the recession. Research Paper Supervisor: Mrs. Gaitor Name: Ariana McWeeney Word Count : 2,518 Table of Contents Page Cover Page ………………………………………………………………. 1 Abstract …………………………………………………………………….3 Introduction…………………………………………………………… 3-4 Body ………………………………………………………………………. 5-14 Conclusion …………………………………………………………….. 15 Bibliography……………………………………………………………16-17 Abstract In this research paper I will be studying how Bank of The Bahamas continues to survive through the recession and the extents in which they went through in order to not suffer. The purpose of this research paper is to analyze the bank and the efforts they undertook to survive such a devastating time to the economy. The key resources used in this research paper was primary research in which I had an interview with the managing director of Bank of The Bahamas. In addition to that I’ve used reliable online articles and IB Business and Management textbooks to investigate this topic to my fullest extent. INTRODUCTION This investigative report will demonstrate the extents in which Bank of The Bahamas went through in order to survive during the recession. This topic interests me because the recession is impacting not only The Bahamas but also everyone around the world. Many banks and businesses have had to close but Bank of The Bahamas in particular went through many different extents...
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...Globalization: Changing the World’s Economy Globalization is the process by which the interaction of economic, political, cultural, and environmental systems across geographical borders are accepted as part of a more integrated and interdependent world economy. Some people view it as an exchange of people, goods, ideas, capital, and cultures across national borders linked by the development of modern technologies, such as the Internet (Globalization, 2007). In the last few decades, the advantages of globalization have been debate because some argue that it is good for the world economy, while others argue that it can cause catastrophic economic and environmental consequences. Although globalization has some negative effects, such as increasing income inequality between the poor and the rich, its positive effects outweigh the costs. Therefore, globalization improves countries’ economic growth, people’s standard of living, and information technology. Many people believe that the concept of globalization was caused by the liberation of markets after the post-war monetary agreements, such as the Breton Woods System. However, globalization has already been in practice for centuries all over the world. These agreements accelerated globalization because they helped to open new markets in different countries, and reduced trade barriers through the General Agreement on Tariffs and Trade (GATT). Some archeologists found evidence of trade between the Roman Empire and Sri Lanka, and some...
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...Annals of Tourism Research, Vol. 27, No. 2, pp. 345±370, 2000 Pergamon 5 2000 Elsevier Science Ltd. All rights reserved Printed in Great Britain 0160-7383/00/$20.00 PII: S0160-7383(99)00073-0 CARIBBEAN CRUISE TOURISM Globalization at Sea Robert E. Wood Rutgers University-Camden, USA Abstract: Caribbean cruise tourism provides a particularly illuminating vantage point for understanding the processes of globalization in the world today. After documenting the rapid expansion of this business, the paper explores three central manifestations of globalization at work in the Caribbean cruise industry: the restructuring of the industry in the face of global competition, capital mobility, and labor migration; new patterns of global ethnic recruitment and strati®cation, including their incorporation into the product marketed to tourists; and deterritorialization, cultural theming, and simulation. The paper asserts that this ``globalization at sea'' illustrates the contradictions, ambiguities, and unchartered course of contemporary globalization processes. Keywords: globalization, tourism, cruise industry, Caribbean, migration, ethnicity. 5 2000 Elsevier Science Ltd. All rights reserved. ReÂsumeÂ: Le tourisme de croisiÁere aux CaraÈõbes: la globalisation en mer. Le tourisme de croisiÁere aux CaraÈõbes fournit un point de vue particuliÁerement appropriÂe pour comprendre le processus de globalisation dans le monde d'aujourd'hui. AprÁes avoir passÂe en revue la rapide expansion de ce...
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...Caribbean History and Culture March 17, 2013 Tourism: Impacts on the Economy and Eco-System How is Caribbean tourism negative for their economy? How does tourism negatively impact ecology? Those are the questions I ask myself, is tourism tearing apart the Caribbean? In some ways there are both positive and negative impacts of tourism on the economy and ecology of the Caribbean. The reason this topic is worth being thoroughly exploring is because of all the lives it impacts on an everyday basis from work to water supply. Through researching I have found that there are a few alliances that their only purpose is to benefit and help keep the eco-system the way it is supposed to be. Now not all resorts are watched under these alliances but I am going to take a closer look at these Alliances and see exactly what they stand for and how they could make positive changes when it comes to helping save the eco-system. In the end I’m going to find statistics on what good and bad is going on, what people are doing to try to improve any of the bad and see just how much tourism affects the lives of the people and lands of the Caribbean. My plan is to look inside of it all, shift out the myths and find the truth on both the Economy and Ecology issues. The purpose of my research project is to look into the different effects tourism has on both the economy and ecology. I’m going to be digging deep into what is really happening to the oceans (Hill, 2013) these beautiful oceans that...
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...CHAPTER 3 Why People Travel LEARNING OUTCOMES After reading and studying this chapter, you should be able to: 1. List reasons why people travel. 2. Describe the sociocultural impact of tourism. 3. Describe sustainable tourism and ecotourism. 4. Explain cultural, heritage, and nature tourism. [pic] [pic] [pic] [pic] [pic] 67 68 Chapter 3 Why People Travel " There are many reasons why people travel. It could be for business or personal purposes. Regardless, it provides the traveler with an opportunity to _ encounter somewhere or something new and hopefully exciting! " Joseph Charles, Charles Street Cafe & Catering, Boston,MA Have you ever been dying for a break? Have you ever caught jyeursel] day- dreaming about where you would go if you only had the time, t ~ money, and the opportunity? Are you curious about the world and want to explore it~ Well, you are not alone! From the beginning of time, people all over the world have felt the urge to get out there and explore, conquer, and find enlightenment. Though hopefully a little more peaceful, the weary student heading off on spring break, to Europe for the summer, or even for a semester abroad, is not too dif- ferent from the adventurous Viking seeking greener pastures. Fantasies aside, why do people travel? Today, there are many reasons (maybe ...
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...3.1/3.2 Genting Highlands Resorts that founded by Tan Sri Lim Goh Tong since 1965 named Genting Highlands Berhad. The company approval from the government to obtained large amount of land in the rainforest. In the middle of 1971, Genting Highlands opened for their business - the first Prime Minister of Malaysia Tunku Abdul Rahman granted him the only casino license in the country. Over the next 30 years, Genting Highlands continued to grow their company structure from a simple resort with a small casino to a modern holiday destination, with theme parks, numerous hotels, large roads and a cable car system. Today, Genting Highlands is one of the most popular highland tourist destinations in Malaysia, attracting visitors from Kuala Lumpur, Singapore and all over the world. It remains still the only legal gambling den in Malaysia. Journeymart. (2014). Genting or "urban entertainment" is a perfect holiday destination for many malaysians. It is very popular with the people who want to escape the hot and humid weather in Kuala Lumpur. The temperature of Genting Highlands changes often about 16/24 degrees, the weather will be cold as people from Kuala Lumpur. Genting group has also a company which more than 26 years of development experience, operations, and marketing in casinos and integrated resorts around the world. It also includes the Americas, Australia, Philippines, Singapore and United Kingdom. Genting Highland is the only one legal casino in Malaysia. It has been voted Malaysia's...
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