Counting the Cost of COVID-19 on the Global Tourism Industry

2020 ◽  
Author(s):  
Godwell Nhamo ◽  
Kaitano Dube ◽  
David Chikodzi
Keyword(s):  
Tourism Industry ◽  
Global Tourism ◽  
The Cost

Does IFRS adoption decrease the cost of equity of the global tourism firms?

2017 ◽  
Vol 23 (8) ◽  
pp. 1615-1631
Author(s):  
Zhi-Yuan Feng ◽  
Ying-Chieh Wang ◽  
Hua-Wei Huang
Keyword(s):  
Financial Reporting ◽  
Equity Capital ◽  
Tourism Industry ◽  
Cost Of Equity Capital ◽  
Cost Of Equity ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Legal Enforcement ◽  
Global Tourism ◽  
The Cost

This article answers the question of whether the adoption of International Financial Reporting Standards (IFRS) reduces the cost of equity capital, with a focus on the tourism industry. We employ a set of global tourism companies and find that mandatory IFRS adoption has a significantly negative relation with the cost of equity capital. However, we find that this relation is varied with different business cultures and geographic areas. Moreover, from interactive analyses of country institutions for the relation between mandatory IFRS adoption and tourism firm’s cost of equity, we show that adopting IFRS complements the deficiencies of various country institutions, such as investor protection, the strength of legal enforcement, and corporate governance.

Positioning ASEAN as One Collective Destination: Towards a Sustainable Brand

2020 ◽  
Vol 11 (1) ◽  
pp. 103-103
Author(s):  
Varintra Sirisuthikul ◽  
Pichai Pusumpun
Keyword(s):  
Content Analysis ◽  
Tourism Industry ◽  
Brand Positioning ◽  
Preliminary Assessment ◽  
Destination Branding ◽  
Integrative Framework ◽  
Globalizing World ◽  
Global Tourism ◽  
Tourism Destinations ◽  
Tourism Websites

In a globalizing world, where traveling is becoming easy and accessible, tourism destinations are increasingly competing in drawing travelers into their areas. One of the biggest challenges for any destination marketers is the substitutability of their offerings and the task of positioning their destinations against the numerous competing places that offer similar features (Moilanen & Rainisto, 2009; Pike, 2012; Pike & Page, 2014). The intense competitiveness of the global tourism industry increasingly calls for the most competitive positioning for individual destinations (Miller & Henthorne, 2007; Pike 2012). Consequently, the paper attempts to investigate the positioning strategies of the 10 individual destinations of ASEAN to better understand their distinctiveness and assess ASEAN collective brand. The current research aims to fill this gap through a preliminary assessment of brand elements of ten countries in ASEAN on how they project their official tourism websites using the method of content analysis of the 10 official tourism websites. This is followed by a discussion of the desired ASEAN collective brand with the engagement of ASEAN stakeholder in tourism collaboration, focusing mainly on joint promotion of tourism destinations. Consequently, the study presents an integrative framework embracing collaborative stakeholder efforts that ultimately leads to achieve a unified and sustainable brand of ASEAN. Keywords: Collective ASEAN Brand; Positioning; Destination Branding; Sustainable Brand; Stakeholder

scholarly journals Positioning spice tourism as an emerging form of special interest tourism: perspectives and strategies

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Bipithalal Balakrishnan Nair ◽  
Patita Paban Mohanty
Keyword(s):  
Special Interest ◽  
Tourism Development ◽  
Tourism Industry ◽  
Development Plan ◽  
Global Awareness ◽  
Medical Practices ◽  
Home Remedies ◽  
Medicinal Use ◽  
Global Tourism

AbstractThe COVID-19 pandemic has halted activities in the global tourism industry, and the situation has only been worsened by the general air of uncertainty and lack of effective vaccinations. Consequently, people have begun testing various remedies to enhance their immunity, primarily turning to traditional medical practices and home remedies. The medicinal use of spices, given their immune-boosting properties, is increasingly popular globally and has enhanced global awareness of spices and their products. In light of this surging popularity, this study examines spice tourism as a concept of niche tourism. This study proposes spice tourism as a valuable post-COVID-19 strategy by providing four different approaches to position spice tourism within special interest tourism. This paper also suggests a tourism development plan for spice tourism and proposes a strategy for its resilience post-COVID-19.

Halal tourism: conceptual and practical challenges

2019 ◽  
Vol 10 (1) ◽  
pp. 87-96 ◽  
Author(s):  
Erhan Boğan ◽  
Mehmet Sarıışık
Keyword(s):  
Literature Review ◽  
Design Methodology ◽  
Primary Source ◽  
Tourism Industry ◽  
Critical Assessment ◽  
Primary Research ◽  
Content Type ◽  
Related Literature ◽  
Global Tourism ◽  
Practical Implications

PurposeMuslim tourists participating in halal tourism activities represent a valuable niche market for global tourism industry. The purpose of this study is to clarify the concepts of halal tourism and Islamic tourism and to draw attention to some conceptual and practical challenges in the halal tourism industry.Design/methodology/approachThe paper is based on a critical assessment of the literature in this field. To differentiate the concepts and to discuss practical and conceptual challenges, the authors found some references by reviewing the existing definitions in related literature and the primary source of the concepts which is Holy Book of Islam, Quran.FindingsThe terms “intention” and “Islamic motivation” can be used to differentiate Islamic tourism and halal tourism. The authors suggest calling hotels that provide good and services in halal tourism industry as “halal hotels” and tourists as “Muslim tourists”. One of the leading practical challenges in halal tourism is having lack of halal standards, especially for hotels. As the way Muslims understand and adapt their lives to Islam is quite different, which means this market is not homogenous, the authors suggest that halal hotels should be scaled through different qualifications in different countries.Research limitations/implicationsThis study is based on literature review, and it lacks primary research.Practical implicationsCurrent paper stresses the need for consistent use of Islamic-related tourism terms in industry. Hotel companies should have halal certifications that will provide assurance to customers. It is highly important for hotel companies to inform their target guests about the location of hotel before arriving at hotel. This is because halal hotels and other hotels are usually located in resort destination, especially in Turkey.Originality/valueThis paper is one of the leading papers that differentiates Islamic tourism and halal tourism concepts. It also provides several conceptual and practical issues in halal tourism industry.

scholarly journals Tourism 2025: an industry perspective

2015 ◽  
Vol 1 (1) ◽  
pp. 53-57 ◽  
Author(s):  
Simon Wallace ◽  
Steve Riley
Keyword(s):  
New Zealand ◽  
Tourism Industry ◽  
Collective Actions ◽  
Content Type ◽  
Stakeholder Support ◽  
Wide Range ◽  
Framework Model ◽  
Challenges And Opportunities ◽  
Small Industry ◽  
Global Tourism

Purpose Tourism 2025 – Growing Value Together/Whakatipu Uara Ngatahi is a framework to unite New Zealand's large and diverse tourism industry and ignite strong, aspirational economic growth. Its goal is to see the tourism industry contribute $41 billion a year to the New Zealand economy by 2025, up from $24 billion now. It provides vital context for some collective actions by big or small industry clusters and for thousands of actions individual businesses will take each year. The paper aims to discuss these issues. Design/methodology/approach A wide range of tourism industry stakeholders were consulted over an 18‐month period to ensure the project was being developed on a solid, evidence‐based foundation. There was strong stakeholder support for a framework which the private sector takes ownership of and responsibility for, but which also recognises that public sector support is vital. The project team developed a “straw‐man” growth framework model which resulted in carrying out detailed investigations and consultation to test and, where necessary, adjust that model into its final form. Findings There were four major forces shaping the global tourism market. There was one positive force for New Zealand countered by three tough challenges. The strawman growth framework comprised five separate yet inter‐connected “cycle of growth” themes. These themes are relatively consistent with global national tourism plans that were studied. Used intelligently and in harmony, with the industry fully understanding the inter‐relationships and inter‐dependencies within the “cycle of growth”, the key themes enable the tourism industry to successfully come to grips with the challenges and opportunities ahead. Originality/value Tourism 2025 is aimed at aligning the industry on a pathway towards aspirational growth.

scholarly journals The challenges of developing small tourism enterprises in townships: case of Umlazi, South Africa

2016 ◽  
Vol 14 (1) ◽  
pp. 201-205
Author(s):  
Nsizwazikhona Simon Chili ◽  
Simiso Lindokuhle Mabaso
Keyword(s):  
South Africa ◽  
South African ◽  
Local Economic Development ◽  
Tourism Industry ◽  
Small Scale ◽  
Elite Group ◽  
Global Tourism ◽  
Tourism Enterprises ◽  
Township Tourism ◽  
Tourism Economy

Township tourism in South Africa has grown in popularity since 1994 and is considered by some researchers to be an appropriate mechanism for stimulating local economic development. Opportunities for the development of black-owned enterprises in South Africa began for the first time when the country integrated into the global tourism economy after many years of international sanctions. The growth of township tourism thus can provide the context for potential economic opportunities for local entrepreneurs to enter the business, an activity that traditionally has been the domain of established white South African entrepreneurs. The main objective of the study is to present findings on the challenges that face a certain group of small tourism enterprises in townships with more attention being specifically paid to Umlazi as the second biggest township in the Southern hemisphere. The main reason for the choice of the study is due to the fact that there is only a limited literature that explores the conditions of small-scale and informal tourism entrepreneurs operating in South Africa’s black townships. The focus falls upon the challenges of developing small tourism entrepreneurs for black owners in the township, especially because South African tourism industry is highly concentrated and dominated by small elite group of large, mostly locally owned, tourism organizations which drive the tourism economy that unfortunately excludes and sidelines that of the townships

scholarly journals Contribution of Domestic Tourism to Sustainable Tourism Development

2020 ◽  
Author(s):  
Forbes Kabote
Keyword(s):  
Developing Countries ◽  
Southern Africa ◽  
Sustainable Tourism ◽  
Tourism Development ◽  
Tourism Industry ◽  
Sustainable Tourism Development ◽  
Tourism Product ◽  
Domestic Tourism ◽  
Global Tourism ◽  
Qualitative Methodologies

Tourism literature is awash with evidence of the value of domestic tourism to the tourism industry in general. However; there is limited knowledge of how domestic tourism is contributing towards sustainable tourism development especially in developing countries. This study explored the contribution of domestic tourism to sustainable tourism development in Zimbabwe, one developing country in Southern Africa. Using qualitative methodologies, data were collected and thematically analysed. The study revealed that domestic tourism has both positive and negative contributions to sustainable tourism development in unique ways. In conclusion, it was noted that without domestic tourism, Zimbabwe as a tourism destination would be struggling to grow its tourism product offering and expand its market share on the global tourism market.

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