...Economic impact approaches Page #1 Approaches to Estimating the Economic Impacts of Tourism; Some Examples Daniel J. Stynes Updated January 1999 Introduction The purpose of this bulletin is to present examples of different approaches to estimating the economic impacts of tourism. In a previous bulletin (Stynes 1997), I summarize economic impact concepts and methods as they apply to tourism. Here we apply the methods to illustrative cases in order to demonstrate some practical approaches. Three specific examples are presented. These represent a range of alternatives for estimating the economic impacts of visitor spending. The techniques covered range from methods based largely on judgement, to methods that utilize secondary spending data and published multipliers, to the use of visitor surveys and input-output models. A third bulletin in this series discusses survey methods for measuring visitor spending and includes sample spending instruments. While the construction and operation of tourist facilities also has economic impacts, we will restrict our attention here to the impacts of visitor spending. Review of Basic Approach and Levels of Analysis The economic impact of visitor spending is typically estimated by some variation of the following simple equation: Economic Impact of Tourist Spending = Number of Tourists * Average Spending per Visitor * Multiplier This equation suggests three distinct steps and corresponding measurements or models: (1) Estimate the change...
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...The Rise of “Economic Consequences” – Notes The impact of accounting reports on decision making may be the most challenging accounting issue of the 1970s. By Stephen A. Zeff Notes by Tyler Shivers Introduction There are increasing “outside forces” in the standard setting process since 1960s. Two parallel developments marking this trend * Individuals and groups rarely had shown interest in setting accounting standards but then started intervening actively & powerfully in the process * New arguments had be brought up and the term “economic consequences” has been used to describe them Economic consequences – the impact of accounting reports on the decision making behavior of business, government, unions, investors, and creditors. * Accounting standards setters must take into consideration of detrimental consequences when deciding on accounting questions. Until recently, accounting policy making was deemed neutral in effect or was considered not responsible. Policy makers have been aware since 1960s that there was a third party intervention issues but not the Economic Consequences argument till 1970s When management began intervening, its true position was probably disguised This is the tactical rhetoric suggested by examination of arguments 1. The traditional accounting model, where management was genuinely concerned about unbiased and “theoretically sound” accounting measurements. 2. The traditional accounting model, where management was really seeking...
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...Economic Impact Analyses analyze the economic effects of a particular project in a particular area. This analysis can cover a region as small as a neighborhood and as large as the world. The main variables analyzed include revenue, profits, wages, and jobs. They consider the direct impact the economic impact has on an area as well as indirect impacts. For instance, you can analyze the total number of employees a firm will hire if it builds a new factory. You can also analyze what this increase in employment will do to other non-related industries in the area. These newly employed workers will have more money to spend at a local store which will in turn create more profits and potentially more jobs. It typically analyzes activity before the project and after the compare the changes and the impact of the project. This is typically done by measuring the difference in economic activity assuming the economic event occurs and then assuming it does not occur. This is called the counterfactual case. An economic event can be defined as a new business moving into a region, a new policy or government program, or any other activity that produces some sort of profit. This is useful to determine if a particular project is worth investing in (Southwestern Oklahoma State University, 2012) . The main types of impact analysis include output impact, value added impact, labor income impact, and employment impact. There is also a property value impact. An output impact measure the total increase...
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...Economic impacts of Tourism Page # 1 Economic Impacts of Tourism Daniel J. Stynes Businesses and public organizations are increasingly interested in the economic impacts of tourism at national, state, and local levels. One regularly hears claims that tourism supports X jobs in an area or that a festival or special event generated Y million dollars in sales or income in a community. “Multiplier effects” are often cited to capture secondary effects of tourism spending and show the wide range of sectors in a community that may benefit from tourism. Tourism’s economic benefits are touted by the industry for a variety of reasons. Claims of tourism’s economic significance give the industry greater respect among the business community, public officials, and the public in general. This often translates into decisions or public policies that are favorable to tourism. Community support is important for tourism, as it is an activity that affects the entire community. Tourism businesses depend extensively on each other as well as on other businesses, government and residents of the local community. Economic benefits and costs of tourism reach virtually everyone in the region in one way or another. Economic impact analyses provide tangible estimates of these economic interdependencies and a better understanding of the role and importance of tourism in a region’s economy. Tourism activity also involves economic costs, including the direct costs incurred by tourism businesses...
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...sampling populations and instruments. Other topics include descriptive statistics, probability concepts, confidence intervals, sampling designs, data collection, and data analysis – including parametric and nonparametric tests of hypothesis and regression analysis. Cooper, D.R., & Schindler, P.S. (2006). Business research methods (9th ed.). Boston, MA: McGraw-Hill/Irwin. Lind, D. A., Marchal, W. G., & Wathen, S. A. (2008). Statistical techniques in business and economics (13th ed.). Boston, MA: McGraw-Hill/Irwin. All electronic materials are available on the student website. |Week One: Descriptive Statistics and Probability Distributions | | |Details |Due |Points | |Objectives |Compute descriptive statistics for given data sets. | | | | |Apply probability concepts related to discrete and continuous probability. | | | |Readings |Read Ch. 3, 5, 6, & 7 of Statistical Techniques in Business & Economics. | | | | |Read materials on the student website ...
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...31381850Room: GP Z1018Email: j.heffernan@qut.edu.au bsb119@qut.edu.au | Academic queries | Email: bsb119etutor@qut.edu.au | Administrative queries | Email: bsb119@qut.edu.au | Tutor contact details | Available in Contact Us section of Blackboard | Lecture Schedule Date: Week Beginning | Lecture Topic | Readings from textbook | Week 129 February | Introduction * Overview of Australian Business Environment * Globalisation and interdependencies * Drivers of internationalisation | Ch 1(pp19 to 28 & 43 to 63) | Week 27 March | Introduction to IB Theories and Databases * Models/theories of internationalisation * Country analysis * EIU, GMID Databases | Ch 2 (pp90-108) | Week 314 March | Business environments – Socio-economic characteristics * Country profile and macro-segmentation * Levels of economic and social development * Determinants of market potential | Ch 7 | Week 421 March | Business environments – cultural diversity * Elements of culture * Dimensions of culture * Doing business across cultures | Ch 5 | Midsemester Break | Week 54 April | Business environments – trade and investment * Instruments of trade policy * Costs and benefits of FDI * Regulation of FDI | Ch 3 (pp.116-145) | Week 611 April | Business environment – Political * Political systems * Political ideology *...
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...additional time and effort in Weeks 2 and Week 5. |Overview | | | | | Project Part 1 (PP1) Project Part 1 (PP1) consists of performing application-oriented exercises wherein the specific economic principles learned in this course are put to practical use. You must translate your ideas into economic analysis using the specific economic theory and economic terms contained in the TCOs covered in the course, and demonstrate that you are understanding and utilizing material from text chapters covered up to this point in the course, to receive full credit on the assignment. You are being asked to submit a report containing responses to three exercises. Exercise 1 entails a choice of one topical microeconomic issue out of two possible alternatives. Exercises 2 and 3 entail a choice of two textbook questions out of a list of possible alternatives. |Exercise 1 | | | | | Choose one of the following two microeconomic issues: 1. Everyone’s Gasoline Problem. We are all familiar with fluctuating prices of...
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...STRATEGIC PLAN PART 2: SWOT Analysis Paper Latrice V. Smith BUS/475 University of Phoenix May 26, 2016 Thomas Lalka STRATEGIC PLAN PART 2: SWOT Analysis Paper Strategic Plan Part II: SWOT SWOT analysis is a vital system or tool utilized for anyone either before starting a company or even through the life of the company. SWOT analysis allows a company to determine where they currently stand in the market they are in and where they can take their company in the future. Knowing the strength, weakness, opportunities, threats, and trends could be the difference whether the company or organization will succeed or be outdone by its competitors. On this paper a SWOT analysis has been conducted to show the strength, weaknesses, threats, and trends that could impact the future of Power House Gym. Environmental Analysis There are various outside elements that could influence Power House Gym’s ability to reach it goals and accomplish the mission. In order to succeed Power House Gym will have to determine the proper strategy that could maintain the business. Studying the external environment about the business industry, competition, economic elements, technological elements, demographics, and so on could give Power House Gym an edge to continue succeeding move forward towards its goals. On the other hand internal environment is equally important since it analysis the inside aspects company’s operation, internal guidance and mission (Wise geek, 2003-2014). Performing an internal...
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...These tools are widely used by local economic development (LED) practitioners: General tools to help organise and compare data: Time series analysis Growth indexes Composite indexes Benchmarking GIS mapping PEST / trends analysis Tools to help cities understand the structure of their local economy: Sector share analysis Value-added analysis Economic base analysis Location quotient Specialisation index Shift share analysis Input-output analysis Social accounting matrix Cluster mapping Value chain analysis Tools to look at local endowments: Asset mapping Tools to assess human capital: Skills audit Tools to analyse institutions: Stakeholder analysis / institutional mapping Analysing the Data Guide to Data Analysis Tools 8 This chapter discusses the tools that cities and city-regions can use to analyse data collected on their economies. All of these have been tried and tested in actual city development strategies (CDSs). A few other tools not yet widely applied in city planning environments have also been included. Time Series Analysis What Issues Are Addressed by Time Series Analysis? The following questions can be addressed by a time series analysis: How is a local economy performing over time? ● Population and other demographics (including education and labour force ● Income levels and distribution ● Employment and unemployment levels (total economy and by sector) ● Economic output and exports (total economy and by sector) Which growth patterns reflect shocks and...
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...Strategic Plan Part II: SWOTT Name BUS 475 Instructor Date Strategic Plan Part II: SWOTT SWOTT analysis is a vital system or tool utilized for anyone either before starting a company or even through the life of the company. SWOTT analysis allows a company to determine where they currently stand in the market they are in and where they can take their company in the future. Knowing the strength, weakness, opportunities, threats, and trends could be the difference whether the company or organization will succeed or be outdone by its competitors. On this paper a SWOTT analysis has been conducted to show the strength, weaknesses, threats, and trends that could impact the future of Power House Gym. Environmental Analysis There are various outside elements that could influence Power House Gym’s ability to reach it goals and accomplish the mission. In order to succeed Power House Gym will have to determine the proper strategy that could maintain the business. Studying the external environment about the business industry, competition, economic elements, technological elements, demographics, and so on could give Power House Gym an edge to continue succeeding move forward towards its goals. On the other hand internal environment is equally important since it analysis the inside aspects company’s operation, internal guidance and mission (Wise geek, 2003-2014). Performing an internal environment will allow for better understanding of the business operations such as marketing, production...
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...TBA TBA TBA suraj.lums.edu.pk COURSE BASICS Credit Hours Lecture(s) Recitation/Lab (per week) Tutorial (per week) 3 Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week 2 Duration Duration Duration 75 Minutes COURSE DISTRIBUTION Core Elective Open for Student Category Close for Student Category COURSE DESCRIPTION This course surveys quantitative marketing methodology. Our emphasis will be on the selection and use of models to support marketing strategy. Topics include: analysis of consumer behavior; segmentation, targeting, positioning, forecasting methods; new product decisions; and advertising decision models; sales force decision models and pricing decision models. The focus of the course is on the use of analytical approaches and computer-based models to formulate and solve problems. This course will also provide you an opportunity to improve your statistical and analytical skills. COURSE PREREQUISITE(S) • • • Statistics OR Statistics and Data Analysis OR Probability and Statistics COURSE OBJECTIVES (CO) 1. 2. 3. 4. Develop an understanding of the use of analytical techniques and computer models in enhancing marketing decision making in modern enterprises Improve students’ skills in viewing business processes and relationships systematically and analytically Provide students with the software tools that will enable them to apply the models and methods taught in the course to real business problems. Provide students an opportunity to demonstrate...
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...International Management Culture, Strategy, and Behavior Ninth Edition Fred Luthans University of Nebraska-Lincoln •Jonathan P. Doh Villanova University Mc Graw Hill Education Table of Contents Part One Environmental Foundation 1 2 The World of International Management: An Interconnected World Introduction Globalization and Internationalization Globalization, Antiglobalization, and Global Pressures Global and Regional Integration The Shifting Balance of Economic Power in the Global Economy 2 4 6 6 9 12 Global Economic Systems Market Economy Command Economy Mixed Economy 19 19 19 20 Economic Performance and Issues of Major Regions Established Economies Emerging Economies Developing Economies on the Verge 20 20 22 26 The World of International Management—Revisited 30 Summary of Key Points 32 Key Terms 32 Review and Discussion Questions 32 Answers to the In-Chapter Quiz 33 Internet Exercise: Global Competition in Fast Food 33 In the International Spotlight: India 2 Globalization and International Linkages 34 The Political, Legal, and Technological Environment 36 The World of International Management: Social Media and the Pace of Change 36 Political Environment Ideologies Political Systems 38 39 41 Legal and Regulatory Environment Basic Principles of International Law Examples of Legal and Regulatory Issues Privatization Regulation of Trade...
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...wishing to acquire a sound understanding of the main opportunities in international investments. For example, the relevance of hedging in the management of currency risk will be studied in light of theoretical results and empirical evidence. We will also briefly cover foreign direct investment (FDI), since in general, the revenue generated from FDI by U.S. firms is about three times as large as the revenue generated from the exporting of U.S. goods by U.S. firms. Due to the ever increasing importance of international corporate governance, there is a corresponding need to decipher and use information in financial reports. At least one class meeting and one case study will touch on some key issues in international financial reporting and analysis, such as financial disclosure/transparency, incentives for off-balance sheet liabilities, hedge accounting, lease accounting, footnote disclosures, and intercorporate equity investments, and international financial reporting differences. We will also use many real-life examples from market practices to emphasize the engineering dimensions of financial contract design (financial engineering), that market practitioners professionalize by blending theory with practice. Real financial contract examples will be discussed along with the relevant sections of the Levich text during the...
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...GUINTCHEVA Guergana Course Structure Phase 1: analyzing external and internal environment Phase 2: Marketing strategy Planning Phase 3: Marketing Mix Tutorial 1 Detailed • • • • (Mission) & Corporate objectives Defining markets & short exercise Nielsen data Scanning the environment: example Daimler AG Mapping the Business • Daimler AG, Stuttgart, with its businesses Mercedes-Benz Cars, Daimler Trucks, Daimler Financial Services, MercedesBenz Vans and Daimler Buses, is a globally leading producer of premium passenger cars and the global market leader of heavy- and medium-duty trucks as well as busses. The Daimler Financial Services division has a broad offering of financial services, including vehicle financing, leasing, insurance and fleet management. Daimler AG Corporate Mission • As the inventor of the automobile, we have shaped mobility to a great extent with groundbreaking innovations and outstanding vehicles. We aim to continue playing our pioneering role with the ongoing development of mobility – especially in the areas of safety and sustainability. What type of Corporate Objectives are formulated by Organizations? Tutorial 1 Detailed • • • • (Mission) & Corporate objectives Defining markets & short exercise Nielsen data Scanning the environment: example What is a market? • A group of individuals or organizations (i.e., buyers) having the willingness and ability to buy goods or services to satisfy a particular class of wants or needs Example:...
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...The Global Capital Market Learning objectives • Articulate the benefits of the global capital market. • Understand why the global capital market has grown so rapidly over the last quarter century. • Be familiar with the risks associated with the globalization of capital markets. • Appreciate the risks and benefits associated with the Eurocurrency market, the global bond market, and the global equity markets. • Understand how foreign exchange risk impacts upon the cost of capital. This chapter discusses the form and function of the global capital market. The market is attractive because its size lowers the cost of capital for borrowers, and allows investors to diversify their portfolios, thereby reducing their risk. Advances in information technology, and the deregulation of financial services and the relaxation of regulations on cross-border capital flows have contributed to the growth of the global capital market. The chapter then goes on to explore the Eurocurrency market, the global bond market, and the international equities market. The opening case describes how ICBC, China’s largest bank, raised $21 billion in the international equities market. The closing case examines how China Mobile raised capital in international markets through a stock offering and a bond issue. OUTLINE OF CHAPTER 11: THE GLOBAL CAPITAL MARKET Opening Case: Industrial and Commercial Bank of China Introduction ...
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