Baha Mar delays raise fiscal risks for The Bahamas

2015 ◽  
Keyword(s):  
Tourism Development ◽  
Golf Course ◽  
Fiscal Deficit ◽  
Government Revenue ◽  
The Bahamas ◽  
Content Type ◽  
Tourism Sector ◽  
Growth Prospects ◽  
The Impact ◽  
Fiscal Risks

Subject The impact of the Baha Mar development's travails. Significance The Baha Mar tourism development is The Bahamas' largest and most ambitious tourism project, with significant implications for the country's growth prospects, employment and government revenue. Work on the development began in 2011, and when completed, it will include four hotels, a casino, convention centre, golf course and more than 40 restaurants and bars. However, the opening, initially scheduled for December 2014 and later rescheduled to March 2015, has still not taken place, and no firm new date has been set. Impacts Failure of Baha Mar would undermine hopes of reducing the fiscal deficit. The Bahamian tourism sector already stands to lose from a possible diversion of US tourists to Cuba. Baha Mar's bankruptcy could also affect the finances of local businesses and suppliers at a time when the economy is already weak.

Macro-economic Factors Influencing Tourism Entrepreneurship: The Case of Kazakhstan

2021 ◽  
pp. 097135572098143
Author(s):  
Aizhan Tleuberdinova ◽  
Zhanat Shayekina ◽  
Dinara Salauatova ◽  
Stephen Pratt
Keyword(s):  
Economic Development ◽  
Emerging Economies ◽  
Negative Relationship ◽  
National Income ◽  
Tourism Development ◽  
Entrepreneurial Activity ◽  
Macroeconomic Factors ◽  
Distributed Lag ◽  
Tourism Sector ◽  
The Impact

Tourism development contributes to economic development. In emerging economies like Kazakhstan, tourism development needs active entrepreneurship. As the country emerges from the post-Soviet era, there has been an increase in economic development and prosperity. Entrepreneurship in the tourism sector can drive economies forward through the creation of new tourism and hospitality businesses. The macroeconomic environment can influence entrepreneurial activity. We use an autoregressive distributed lag (ARDL) model to examine the impact of macroeconomic factors on tourism entrepreneurship in Kazakhstan. Using data from 1996 to 2018, we find that there is a positive short-run relationship between wages in the tourism sector and entrepreneurship, suggesting that wage growth in the sector attracts entrepreneurs. In the long run, however, tourism sector wages have a negative relationship with entrepreneurship, suggesting that these higher wages represent a higher cost to entrepreneurship. There is also a strong positive relationship between national income and tourism entrepreneurship in Kazakhstan. Implications of macroeconomic policy changes for Kazakhstan and other emerging economies are discussed.

scholarly journals An exploratory assessment of callings: the importance of specialization

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Christopher Paul Cain ◽  
Lisa Nicole Cain ◽  
James A. Busser ◽  
Hee Jung (Annette) Kang
Keyword(s):  
Structural Equation ◽  
Career Satisfaction ◽  
Role Theory ◽  
Work Life ◽  
Work Life Balance ◽  
Equation Modeling ◽  
Golf Course ◽  
Life Balance ◽  
Content Type ◽  
The Impact

PurposeThis study sought to understand how having a calling influenced engagement, work–life balance and career satisfaction for Professional Golfers Association of America (PGA) and Golf Course Superintendent of America (GCSA) professionals.Design/methodology/approachA conceptual model was used to examine callings among golf course supervisors and its impact on their engagement, work–life balance and career satisfaction. This study also explored the moderation effect of employees’ generalized or specialized role on the calling–engagement relationship. Surveys were collected from a single golf management company and partial least squares structural equation modeling (PLS-SEM) was used for data analysis.FindingsThe results revealed significant relationships among all of the variables, with the exception of the impact of having a calling on work–life balance. Additionally, the more having a calling increased, the more important it was for supervisors to have specialized roles to increase their engagement.Originality/valueThis study identifies important differences in factors that promote career satisfaction for golf course supervisors and extends current understanding of role theory.

scholarly journals Revisiting the relationship between formal planning process and planning effectiveness

2018 ◽  
Vol 30 (2) ◽  
pp. 1016-1034 ◽  
Author(s):  
Said Elbanna ◽  
Tamer H. Elsharnouby
Keyword(s):  
Decision Making ◽  
United Arab Emirates ◽  
Structural Equation ◽  
Planning Process ◽  
Price Volatility ◽  
Organizational Capabilities ◽  
Equation Modeling ◽  
Content Type ◽  
Tourism Sector ◽  
The Impact

Purpose The purpose of this study is to address a timely research question by clarifying whether formal planning is a worthy approach for hotels. In so doing, the authors developed a theoretical model that extends prior research by exploring how the formal planning process influences organizational capabilities and decision-making style. The model also examines the impact of the three identified factors on planning effectiveness. Design/methodology/approach Data were collected from 175 hotels located in United Arab Emirates (UAE) and Qatar and hypotheses were tested using structural equation modeling (SEM). Findings The study concludes that the practice of formal planning in the tourism sector does matter and both organizational capabilities and decision-making style are important factors in predicting planning effectiveness. Research limitations/implications Generalizations to organizations operating in other sectors, such as manufacturing or government sectors, should be drawn cautiously. Practical implications Taking into account oil price volatility and serious political crises in the region, this study provides several insights to hotel managers into how the formal planning process can influence planning effectiveness. Originality/value The findings enrich the debate on the role of formal planning in the tourism sector, which has been relatively devoid of similar studies.

Formation of the national innovation system of tourism development as a factor of investment climate improvement in the region

2015 ◽  
Vol 9 (2) ◽  
pp. 34-39
Author(s):  
Хаджимурад Халимбеков ◽  
Khadzhimurad Khalimbekov ◽  
Заира Шахбанова ◽  
Zaira Shakhbanova
Keyword(s):  
Russian Federation ◽  
Innovation System ◽  
Tourism Development ◽  
National Innovation System ◽  
Tourism Industry ◽  
Investment Climate ◽  
Cluster Approach ◽  
Tourism Sector ◽  
The Russian Federation ◽  
The Impact

The article analyzes the impact of tourism on improving investment climate in the region. The main factors of investment attractiveness of the developing areas of tourism are considered, among which the ability of the tourism industry to develop on almost any site with a variety of conditions and resources of activity that is related to diversity of tourist activities; and the multiplier effect of tourism development which contributes to the development of related sectors of activity. The article presents the results of a study of various aspects of the formation of the national innovation system for the development of tourism. In particular, characterized are the features of the implementation of the cluster approach to the development of tourism in the territories of the Russian Federation, among which the most outstanding are: the lack of experience in the implementation of the cluster approach or unsuccessful attempts to copy foreign experience; priority areas in the development of only one type of clusters — the territorial-production; imperfection of the regulatory framework. These problems, according to the authors, exist along with the typical problems of tourism clusters, which include inadequate specialized infrastructure and services; the poor state of the key tourist sites; failure to comply with quality standards (or their absence) for services offered to tourists. According to the analysis of the legal documentation in the tourism sector of the Russian Federation and monitoring of the development of tourist areas in the article substantiated is the conclusion about the need to tough public policy, defining legal boundaries and strategic guidelines for the development of tourism on the innovative type, as well as the need to adjust the existing practice of tourism territories, which currently does not increase the investment attractiveness of regions.

Bahrain’s new premier faces difficult fiscal choices

2020 ◽  
Keyword(s):  
Saudi Arabia ◽  
Prime Minister ◽  
Fiscal Deficit ◽  
Bond Issue ◽  
Content Type ◽  
Rigorous Approach ◽  
The Impact

Significance Manama is seeking multiple means to adjust to the impact of the pandemic, publishing a two-year budget in November that targets a steady decline in the fiscal deficit. Although Bahrain secured improved terms for its most recent bond issue in September, its debt-to-GDP ratio is climbing, to almost 130% this year. Impacts The new premier may incline to a more rigorous approach towards subsidies, benefits and taxation, but is likely to proceed with caution. The death of the veteran prime minister, Khalifa bin Salman Al Khalifa, who was close to key donor Riyadh, could introduce a new variable. Investors’ future interest in Bahraini bonds will depend on their perceptions of Saudi Arabia as an effective guarantor.

Paraguay's COVID-19 response may lose initial lustre

2020 ◽  
Keyword(s):  
Fiscal Deficit ◽  
Bond Issue ◽  
Fiscal Responsibility ◽  
Content Type ◽  
Timely Response ◽  
Global Spread ◽  
The Government ◽  
The Impact

Subject The impact of COVID-19. Significance In response to the COVID-19 outbreak, the government has ditched the Fiscal Responsibility Law (LRF), in force since 2015, at the same time launching a 1-billion-dollar bond issue in order to cover a surging fiscal deficit. Paraguay has won plaudits for its timely response to the global spread of the pandemic with the introduction of a strict quarantine. Impacts Fiscal limits may continue to be breached as elections draw nearer. Business pressures will continue to tilt the balance towards increased borrowing rather than increased taxes. The government could lose the momentum gained from its COVID-19 response if related corruption allegations mount.

Investment will drive solid Taiwanese growth in 2020

2020 ◽  
Keyword(s):  
Social Services ◽  
Trade Diversion ◽  
The United States ◽  
Ageing Population ◽  
Content Type ◽  
China Trade ◽  
Growth Prospects ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
The Impact

Subject Taiwan growth prospects. Significance Taiwan’s GDP grew by 3.38% year-on-year in October-December 2019. This is an acceleration from 2.6% year-on-year growth in the second quarter to 3.0% in the third. Consumer spending has grown steadily, while investment reshoring and exports to the United States have grown even more strongly due to trade diversion designed to mitigate the impact of US-China trade tensions. Impacts Taiwan is not currently part of the Asia Regional Comprehensive Economic Partnership and its exclusion may limit its trade opportunities. If Taiwan learns from Japan’s experience of adjusting to an ageing population, automated social services could emerge as leading sectors. The president has a renewed mandate to introduce reforms aimed at raising wages and creating jobs, especially in high-skill industries.

Tourism slump will add to Uruguay's economic woes

2019 ◽  
Keyword(s):  
Foreign Exchange ◽  
Summer Season ◽  
Fiscal Deficit ◽  
Tax Collection ◽  
Sharp Drop ◽  
Content Type ◽  
Tourism Sector ◽  
General Elections

Significance Tourism has seen a sharp drop in the current summer season, affecting foreign exchange inflows at a time when the economy is already slowing and general elections are due in October. The decline has hit commerce, services and tax collection, undermining efforts to reduce the fiscal deficit. Impacts Economic woes in neighbouring Argentina will continue to undermine the tourism sector. The fiscal deficit will constrain infrastructure plans. Unemployment will remain high coming into the October elections.

scholarly journals Tourism in Tomorrow's World, 23‐24 February 2014, Renaissance City Center Hotel Doha, Qatar

2015 ◽  
Vol 1 (1) ◽  
pp. 80-85
Author(s):  
Jeroen Oskam ◽  
Graciella Karijomedjo
Keyword(s):  
Tourism Development ◽  
Special Topic ◽  
Global Changes ◽  
City Center ◽  
Content Type ◽  
Global Trends ◽  
Tourist Attractions ◽  
Tourism Sector ◽  
Conference Papers

Purpose The conference was dedicated to global changes in tourism and to their specific impact in the Gulf Corporation Council (GCC) region. The purpose of this paper is to summarize the discussions at the conference. Design/methodology/approach Summary and highlights of the conference papers. Findings This report summarizes the findings and recommendations discussed at the international “Tourism in Tomorrow's World” conference that took place in Doha, February 2014. The conference depicted global trends and developments to zoom in on specific opportunities for tourism development in the GCC area. In view of major events planned in the host country, event legacies were included as a special topic. Conference sessions were dedicated to investments in tourist attractions and hotels, the relation between education and industry and to cultural heritage and tourism. As a result of the conference strong opportunities for tourism development in Qatar and other GCC members were identified. Originality/value This has been the first international conference on long‐term tourism strategies in the GCC area. The underlying motivation was the growing awareness in the GCC area of the need for economic diversification and reduction of oil dependence. The conference coincided with the launch of the Qatar National Tourism Sector Strategy 2030.

scholarly journals Dampak Pengembangan Pantai Kilo Lima pada Masyarakat Lokal di Kota Luwuk Kabupaten Banggai

2020 ◽  
Vol 2 (2) ◽  
pp. 136-144
Author(s):  
Anda Prasetyo Ery ◽  
Dharma Kuba ◽  
Ariesta Ariesta
Keyword(s):  
Natural Resources ◽  
Positive Impact ◽  
Tourism Development ◽  
Local Communities ◽  
Tourism Industry ◽  
Descriptive Research ◽  
Tourism Sector ◽  
Negative Impacts ◽  
The Impact ◽  
The Relationship

Tourism development often does not pay attention to the preservation of natural resources and local culture which are also affected by tourism development and considers that the tourism industry is an industry whose existence is interrelated. This research is descriptive research in the form of written or oral words from people and observable behavior and to be able to better identify the variables to be examined in relation to them and aims to present a structured, factual, and accurate description of the facts -fact and the relationship between the variables to be studied. From the results of the study there are positive and negative impacts that arise. Both environmental, socio-cultural, and economic impacts on local communities who are the main actors who feel the impact of tourism development. The community has felt the positive impact provided by the tourism sector. Although there are still negative impacts that are also felt.

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