|
on Tourism Economics |
| By: | Wallimann, Hannes (Faculty of Economics and Social Sciences) |
| Abstract: | The synthetic control method serves as an appropriate and promising approach to do quantitative comparison research. However, the method is rarely used in the context of tourism. We fill this research gap by applying the method to the case of a Swiss mountain destination. Alpine tourist destinations have suffered from a declining demand in the last decade. Fewer tourist visit ski resorts. Consequently, the tourism industry in these destinations is under pressure to seek for solutions to face this falling demand. Saas-Fee, a Swiss mountain destination particularly hard hit by the decline of visitors has come up with an innovative offer: A substantial price discount on ski passes. In this present study, we aim to estimate the causal effect of the price discount in Saas-Fee. We adopt the synthetic control method to analyze the impact of the destinations’ policy on tourism demand. Further, we perform placebo tests on all units in our donor pool to evaluate the significance our results. Finally, we show how to assess the assumptions of the synthetic control method in the context of tourism. |
| Keywords: | Tourism policy evaluation; Synthetic control method; Swiss Alps; Price discount. |
| JEL: | C21 |
| Date: | 2019–09–17 |
| URL: | http://d.repec.org/n?u=RePEc:fri:fribow:fribow00507&r=all |
| By: | Sara Bindo; Gianluca Mattarocci; Simone Roberti |
| Abstract: | Real estate industry is looking for new asset classes characterized by a different risk-return profile with respect to standard classes (offices, retail, residential, etc…) and the hotel industry represents a new asset class where the real estate funds are looking for new investment opportunities. The performance analysis of the hotel industry shows that the hospitality industry performs differently with respect to other real estate asset classes and there are significant differences on the basis of the location and the quality standard of the hotel structure.The performance in the hotel industry is significantly affected by the reputation of the hotel and its capability to maximize the RevPAR (through the optimization of the ADR and Occupancy rate) of the hospitality infrastructure. The performance drivers of this asset class are not comparable to other real estate types and skills and information necessary for evaluating investment opportunities in the hospitality industry are unique and not frequently available for fund managers operating in the other real ester sector.Literature on diversification strategy in the hotel industry is still limited and there are only few evidences outside US about the performance of hotel specialized real estate portfolios. The paper analyses the Italian industry and provide evidence on the performance achieved by the opportunities related to the hotel industry by considering the case study methodology. Results highlight that the performance of the hotel industry is different with respect to other real estate asset classes and the portfolio composition criteria normally adopted for specialized real estate funds are unique and focused prevalently on the revenues forecast and the rent sustainability. |
| Keywords: | Hotel investment; Performance Analysis; Real Estate Funds |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_210&r=all |
| By: | Manisha Ashish Mehrotra (Banaras Hindu University) |
| Abstract: | Tourism continues to be a major activity in India, which inevitably produces economic, political, social, cultural and ecological consequences. In India, Tourism has created employment opportunities for airline executives, hotel sales managers, structural engineers, city planners, horticulturists, computer programmers, artisans, textiles workers, etc. In spite of its growth, it has not reached out to the masses because the net benefits accrue only to a limited segment of the society, to say, big business agents. It is an imperative duty of the so-called richer class to reach out the benefits directly to the Pro-Poor People who are actually working into the tourism sector day and night. Thus, Pro-Poor Tourism (PPT) is tourism that results in increased net benefits for poor people or marginalized section of the society. The aim of this paper is to explore the prospects and challenges of ‘pro-poor tourism strategies’ and its significance in poverty reduction by generating employment in handicraft sector of Varanasi in order to identify useful lessons and good practice for livelihood and capacity building, leadership and community development for sustainable development. |
| Keywords: | Pro-Poor Tourism, Employment Generation, Poverty Reduction, Livelihood and Capacity Building, leadership and Sustainable Development |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:smo:cpaper:12ma&r=all |
| By: | Jackson, Emerson Abraham; Tamuke, Edmund |
| Abstract: | This study have uniquely mad use of Box-Jenkins ARIMA models to address the core of the threes objectives set out in view of the focus to add meaningful value to knowledge exploration. The outcome of the research have testify the achievements of this through successful nine months out-of-sample forecasts produced from the program codes, with indicating best model choices from the empirical estimation. In addition, the results also provide description of risks produced from the uncertainty Fan Chart, which clearly outlined possible downside and upside risks to tourist visitations in the country. In the conclusion, it was suggested that downside risks to the low level tourist arrival can be managed through collaboration between authorities concerned with the management of tourist arrivals in the country. |
| Keywords: | ARIMA Methodology,Out-of-Sample Forecast,Tourist Arrivals,Sierra Leone |
| JEL: | C32 C52 C53 L83 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:202547&r=all |