The Economic Impact of the Wine Industry on Hotels and Restaurants: Evidence from Washington State

2010 ◽  
Vol 5 (1) ◽  
pp. 164-183 ◽  
Author(s):  
Karl Storchmann
Keyword(s):  
Economic Impact ◽  
Jel Classification ◽  
Washington State ◽  
Tourism Industry ◽  
Wine Industry ◽  
County Level ◽  
High Quality ◽  
Panel Model ◽  
The Impact ◽  
The U.S

AbstractWashington State enjoys an extraordinarily fast growing wine industry and is now the second largest wine producing state in the U.S. This paper examines the impact of this growth on the revenue of hotels and restaurants. Employing a dynamic quarterly panel model at the county level we show that the regional reputation as high quality wine county, as expressed by critical wine points in the national wine press, has a significant effect on the tourism industry. For Walla Walla, the most prominent wine county in the state, less than 17% of all restaurant and approximately 40% of all hotel revenue is tied to the wine cluster (2007). However, regional reputation is not long-living and needs constant replenishment. (JEL Classification: R11, R15, Q19)

scholarly journals Sustainable Tourism, Economic Growth and Employment—The Case of the Wine Routes of Spain

2021 ◽  
Vol 13 (13) ◽  
pp. 7164
Author(s):  
Guillermo Vázquez Vicente ◽  
Victor Martín Barroso ◽  
Francisco José Blanco Jiménez
Keyword(s):  
Economic Growth ◽  
Economic Impact ◽  
Rural Areas ◽  
Local Development ◽  
Tourism Industry ◽  
Wine Tourism ◽  
Development Tool ◽  
The Us ◽  
The Impact ◽  
Positive Effect

Tourism has become a priority in national and regional development policies and is considered a source of economic growth, particularly in rural areas. Nowadays, wine tourism is an important form of tourism and has become a local development tool for rural areas. Regional tourism development studies based on wine tourism have a long history in several countries such as the US and Australia, but are more recent in Europe. Although Spain is a leading country in the tourism industry, with an enormous wine-growing tradition, the literature examining the economic impact of wine tourism in Spanish economy is scarce. In an attempt to fill this gap, the main objective of this paper is to analyze the impact of wine tourism on economic growth and employment in Spain. More specifically, by applying panel data techniques, we study the economic impact of tourism in nine Spanish wine routes in the period from 2008 to 2018. Our results suggest that tourism in these wine routes had a positive effect on economic growth. However, we do not find clear evidence of a positive effect on employment generation.

Wine Taxes, Production, Aging and Quality

2009 ◽  
Vol 4 (1) ◽  
pp. 27-45 ◽  
Author(s):  
Rachael E. Goodhue ◽  
Jeffrey T. LaFrance ◽  
Leo K. Simon
Keyword(s):  
Full Range ◽  
Prima Facie ◽  
Jel Classification ◽  
Wine Industry ◽  
Sales Tax ◽  
Tax System ◽  
Tax Revenues ◽  
Tax Systems ◽  
The Impact ◽  
Ad Valorem

AbstractWe consider the impact of taxes on the quantity and quality produced by a competitive firm of goods, such as wine, for which market value accrues with age. Our analysis found the following: an increase in the volumetric retail tax collected at sale increases quality, so that the basic Alchian-Allen effect holds. However, an increase in the volumetric storage tax collected each period decreases quality, as does an increase in the ad valorem storage tax. The effect of an increase in the ad valorem retail tax on quality is indeterminate. Increases in any of the four taxes reduce the quantity of wine produced. Any two-tax system that includes a volumetric sales tax spans the full range of feasible tax revenues with positive tax rates. For any tax system that reduces quality relative to the firm's no-tax equilibrium, there is another tax system that increases tax revenues, eliminates the quality distortion, and does not increase the quantity distortion. Many wine industry observers believe that most, if not all, existing tax systems tend to result in the suboptimal provision of quality. Our results suggest that the wide variety of wine tax systems is not prima facie evidence that these systems, or most of them, are inefficient. Provided the system includes a volumetric sales tax it may be efficient, regardless of which of the other instruments, or how many of them, are used. Assertions regarding inefficiency must be evaluated on an empirical case-by-case basis. Our analysis provides a theoretical framework for such research. (JEL Classification: D2, H2, Q1)

scholarly journals THE IMPACT OF ESG FACTORS ON MARKET VALUE OF COMPANIES FROM TRAVEL AND TOURISM INDUSTRY

2019 ◽  
Vol 25 (5) ◽  
pp. 820-849 ◽  
Author(s):  
George H. Ionescu ◽  
Daniela Firoiu ◽  
Ramona Pirvu ◽  
Ruxandra Dana Vilag
Keyword(s):  
Economic Impact ◽  
Economic Performance ◽  
Market Value ◽  
Listed Companies ◽  
Geographic Region ◽  
Tourism Industry ◽  
Important Influence ◽  
Travel And Tourism ◽  
The Impact ◽  
The Relationship

The aim of this paper is to investigate the relationship between environmental, social, and governance (ESG) factors and firm market value for the companies from travel and tourism industry and, in the same time, to investigates the question if the association between good ESG scores for travel and tourism companies and their market value can be used as a performance predictor. The impact of extra-financial ESG performance on market value of the companies was estimated using the modified version of the Ohlson (1995) model, based on a sample of 73 listed companies, worldwide distributed, during the 2010–2015 period. The overall results of this research are consistent with the value enhancing theory (as opposed with the shareholder expense theory). From the ESG factors, the governance factor seems to have the most important influence on the market value of the selected companies, regardless of the geographic region where they are located. Thus, our findings provide new insights into the influence of each ESG factor on the market value of the companies, providing a useful tool for stakeholders to measure economic impact but also for use as a predictor of economic performance.

scholarly journals A study on Economic Impact in the Context of American Election Based On AHP

2021 ◽  
Vol 4 (2) ◽  
Author(s):  
Yang Yue ◽  
Haomiao Niu ◽  
Zhaoyun Gu
Keyword(s):  
Environmental Protection ◽  
Economic Impact ◽  
Pearson Correlation ◽  
Chinese Economy ◽  
Control Measures ◽  
Oil Consumption ◽  
Analytic Hierarchy ◽  
The Impact ◽  
The U.S ◽  
China’S Economy

In order to assess the economic impact of the different policies of the Trump and Biden candidates, we formulate metrics on five aspects: Covid-19 prevention and control measures, environmental protection policies, taxation, health care reform, foreign trade. Moreover, each metric is subdivided into several secondary metrics, making for a three-tier hierarchical structure. Take environmental protection policy as an example: Without direct data under Biden's policies, we collected data on U.S. CO2 emissions and U.S. oil consumption during Obama's presidency as Biden's legacy.First, use the analytic hierarchy process (AHP) to select indicators that can reflect the U.S. economy and determine the weight of each indicator. For the U.S. economy, Biden scored 2.6498, Trump 2.3502, suggesting that the election of Biden might make things better for the economy. For China's economy, Biden scored 0.6810 and Trump 0.3245, meaning Biden could give the Chinese economy more room to grow.To reduce the influence of AHP subjectivity on the results, Pearson correlation coefficient is introduced to establish P-AHP model. Take the impact on China's economy. Biden scored 0.5846 and Trump 0.4154.

scholarly journals Impact of COVID-19 Second Wave on Healthcare Networks in the United States

2020 ◽  
Author(s):  
Emad M. Hassan ◽  
Hussam Mahmoud
Keyword(s):  
United States ◽  
Healthcare System ◽  
The United States ◽  
Healthcare Systems ◽  
Mitigation Strategies ◽  
County Level ◽  
Protective Measures ◽  
The Impact ◽  
Second Wave ◽  
The U.S

The risk of overwhelming healthcare systems from a second wave of COVID-19 is yet to be quantified. Here, we investigate the impact of different reopening scenarios of states around the U.S. on COVID-19 hospitalized cases and the risk of overwhelming the healthcare system while considering resources at the county level. We show that the second wave might involve an unprecedented impact on the healthcare system if an increasing number of the population becomes susceptible and/or if the various protective measures are discontinued. Furthermore, we explore the ability of different mitigation strategies in providing considerable relief to the healthcare system. The results can aid healthcare planners, policymakers, and state officials in making decisions on additional resources required and on when to return to normalcy.

International Real Estate Review

2020 ◽  
Vol 23 (4) ◽  
pp. 467-482
Author(s):  
Fathali Firoozi ◽  
◽  
Abolhassan Jalilvand ◽  
Donald Lien ◽  
Mikiko Oliver ◽  
...  
Keyword(s):  
Real Estate ◽  
Economic Impact ◽  
Population Aging ◽  
Housing Prices ◽  
The Elderly ◽  
Damping Effect ◽  
The World ◽  
Behavioral Divergence ◽  
The Impact ◽  
The U.S

Population aging and its economic impact have been receiving increasing attention in many countries around the world. This study offers an analysis of the impact of aging on the housing prices in Singapore relative to the U.S. as the benchmark. The study uses semiannual series over the period of 1998 to 2019 with the age subgroups organized in 5-year intervals. The literature contains conflicting arguments on the impacts of aging on housing prices. Based on observations made for Singapore and the U.S., this study supports the arguments that the elderly part of a population has a damping effect on housing prices. A novel behavioral divergence between Singapore and the U.S. emerges when the analysis focuses on the impact of the finer age subgroups on housing prices in the two countries. The “turning age”, which is defined as the approximate cut-off age when the impact of aging on housing prices turns from positive to negative, is approximately 55 years old in Singapore and 60 years old in the U.S.

scholarly journals Lifestyle Effects on the Risk of Transmission of COVID-19 in the United States: Evaluation of Market Segmentation Systems

2021 ◽  
Vol 18 (9) ◽  
pp. 4826
Author(s):  
Esra Ozdenerol ◽  
Jacob Seboly
Keyword(s):  
United States ◽  
The United States ◽  
Mortality Rates ◽  
Incidence Rates ◽  
Statistical Testing ◽  
Average Risk ◽  
County Level ◽  
Household Level ◽  
The Impact ◽  
The U.S

The aim of this study was to associate lifestyle characteristics with COVID-19 infection and mortality rates at the U.S. county level and sequentially map the impact of COVID-19 on different lifestyle segments. We used analysis of variance (ANOVA) statistical testing to determine whether there is any correlation between COVID-19 infection and mortality rates and lifestyles. We used ESRI Tapestry LifeModes data that are collected at the U.S. household level through geodemographic segmentation typically used for marketing purposes to identify consumers’ lifestyles and preferences. According to the ANOVA analysis, a significant association between COVID-19 deaths and LifeModes emerged on 1 April 2020 and was sustained until 30 June 2020. Analysis of means (ANOM) was also performed to determine which LifeModes have incidence rates that are significantly above/below the overall mean incidence rate. We sequentially mapped and graphically illustrated when and where each LifeMode had above/below average risk for COVID-19 infection/death on specific dates. A strong northwest-to-south and northeast-to-south gradient of COVID-19 incidence was identified, facilitating an empirical classification of the United States into several epidemic subregions based on household lifestyle characteristics. Our approach correlating lifestyle characteristics to COVID-19 infection and mortality rate at the U.S. county level provided unique insights into where and when COVID-19 impacted different households. The results suggest that prevention and control policies can be implemented to those specific households exhibiting spatial and temporal pattern of high risk.

scholarly journals Differential Privacy and the Accuracy of County-Level Net Migration Estimates

2021 ◽  
Author(s):  
Richelle L. Winkler ◽  
Jaclyn L. Butler ◽  
Katherine J. Curtis ◽  
David Egan-Robertson
Keyword(s):  
Census Data ◽  
Differential Privacy ◽  
Age Groups ◽  
Level Of Detail ◽  
County Level ◽  
High Quality ◽  
Net Migration ◽  
The Past ◽  
Us Counties ◽  
The Impact

AbstractEach decade since the 1950s, demographers have generated high-quality net migration estimates by age, sex, and race for US counties using decennial census data as starting and ending populations. The estimates have been downloaded tens of thousands of times and widely used for planning, diverse applications, and research. Census 2020 should allow the series to extend through the 2010–2020 decade. The accuracy of new estimates, however, could be challenged by differentially private (DP) disclosure avoidance techniques in Census 2020 data products. This research brief estimates the impact of DP implementation on the accuracy of county-level net migration estimates. Using differentially private Census 2010 demonstration data, we construct a hypothetical set of DP migration estimates for 2000–2010 and compare them to published estimates, using common accuracy metrics and spatial analysis. Findings show that based on demonstration data released in 2020, net migration estimates by five-year age groups would only be accurate enough for use in about half of counties. Inaccuracies are larger in counties with populations less than 50,000, among age groups 65 and over, and among Hispanics. These problems are not fully resolved by grouping into broader age groups. Moreover, errors tend to cluster spatially in some regions of the country. Ultimately, the ability to generate accurate net migration estimates at the same level of detail as in the past will depend on the Census Bureau’s allocation of the privacy loss budget.

scholarly journals Social Distancing, Temperature, BCG and the Evolution of COVID-19: A Panel-Model Analysis

2020 ◽  
Author(s):  
Eduardo Lima Campos ◽  
Rubens Penha Cysne ◽  
Alexandre Madureira
Keyword(s):  
Daily Variation ◽  
Jel Classification ◽  
Social Distancing ◽  
Control Factors ◽  
Panel Model ◽  
Daily Data ◽  
Variation Rate ◽  
Historical Coverage ◽  
The Impact

Abstract Background: This work presents results concerning the impact of some variables mentioned in the literature on the daily variation rate of cases (per million inhabitants) of COVID-19, based on a large sample of countries and an empirical model with appropriate control factors. We also propose indicators for measuring social distancing and BCG (Bacilo Calmette-Guérin) vaccine immunization.Methods: A statistical panel-model was applied to daily data for 165 countries from January 22 to July 31, 2020. Besides, two indicators are constructed for each country in the sample. The first of them measures social distancing, based on percentage of people circulating on transport stations, as a proportion of the circulation in a period before pandemic. The second indicator proposed estimates the current percentage of people immunized by BCG vaccine, based on the historical coverage and demographic factors. Results: We estimate that a strict social distancing may be associated with a reduction of around 6 percentage points in the daily variation rate of cases per million of COVID-19. Besides, the effects of temperature and BCG immunization proved to be statistically significant at the usual levels, indicating that lower temperatures and a low (or a lack of) BCG immunization may be related to increases in the daily variation rate of cases (per million inhabitants) of COVID-19.Conclusions: The analysis made clear the role of social distancing to control the pandemic. In addition, the method used did not allow to exclude the hypothesis that the evolution of COVID-19 may be positively associated with lower temperatures and a low (or a lack of) BCG immunization. JEL classification codes: C13; C33; I18

scholarly journals Examining the Potential Impacts of Air Pollution on China’s Inbound Tourism: The Case of Beijing and Shanghai

2021 ◽  
Author(s):  
Xu Ni ◽  
Hongqing Ma
Keyword(s):  
Air Pollution ◽  
Air Quality ◽  
Economic Impact ◽  
Potential Effect ◽  
Tourism Industry ◽  
Social Awareness ◽  
Inbound Tourism ◽  
Source Countries ◽  
The Impact

Concerns about China’s air quality, and its impact on the important tourism industry have been on the debate in recent years. This article aims to investigate the potential effect of air pollution on direct economic impact of tourism, using the case of Beijing and Shanghai. The results indicate that air pollution negatively affects China's inbound tourism, resulting in huge loss of tourist arrivals and receipts, and Beijing suffers a greater loss in comparison with Shanghai, its loss in tourist number amounts to 1569,700 persons, equal to CNY 10264.268 million in tourism receipts, and the GDP losses ranges from CNY 20528.536 to 41057.072 across major source countries. This study provides a quantification of the impact helpful to generate a social awareness of air pollution detrimental impacts on inbound tourism and hence the economy.

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