Airline Cooperation and International Travel: Analyses of the Impact of Antitrust Immunity and Joint Ventures on Fares and Traffic

International travel plunges 70% in the first eight months of 2020 International tourist arrivals (overnight visitors) declined 70% in the first eight months of 2020 over the same period of last year, amid global travel restrictions including many borders fully closed, to contain the ongoing COVID-19 pandemic. International arrivals plunged 81% in July and 79% in August, traditionally the two busiest months of the year and the peak of the Northern Hemisphere summer season. Despite such large declines, this represents a relative improvement over the 90% or greater decreases of the previous months, as some destinations started to reopen to international tourism, mostly in the European Union. The decline in January-August 2020 represents 700 million fewer international tourist arrivals compared to the same period in 2019, and translates into a loss of US$ 730 billion in export revenues from international tourism, more than 8 times the loss in 2009 under the impact of the global economic crisis. Asia and the Pacific, the first region to suffer the impact of the pandemic, saw a 79% decrease in arrivals in January-August 2020. Africa and the Middle East both recorded a 69% drop this eight-month period, while Europe saw a 68% decline and the Americas 65%. Data on international tourism expenditure continues to reflect very weak demand for outbound travel, though in several large markets such as the United States, Germany and Italy there is a small uptick in spending in the months of July and August. Based on latest trends, a 75% decrease in international arrivals is estimated for the month of September and a drop of close to 70% for the whole of 2020. While demand for international travel remains subdued, domestic tourism is strengthening recovery in several large markets such as China and Russia. The UNWTO Confidence Index continues at record lows. Most UNWTO Panel Experts expect a rebound in international tourism by the third quarter of 2021 and a return to pre-pandemic 2019 levels not before 2023. Experts consider travel restrictions as the main barrier weighing on the recovery of international tourism, along with slow virus containment and low consumer confidence.

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The price of the lockdown: The effects of social distancing on the Indian economy and business during the COVID-19 pandemic

Ekonomski horizonti ◽

10.5937/ekonhor2101085b ◽

2021 ◽

Vol 23 (1) ◽

pp. 85-99

Author(s):

Hasnan Baber ◽

Rao Tripati

Keyword(s):

Exchange Rate ◽

Stock Market ◽

Stock Prices ◽

Economic Activity ◽

International Travel ◽

Business Activity ◽

Religious Activities ◽

Social Distancing ◽

The Exchange Rate ◽

The Impact

The decision on immediate lockdown in India put economic, social and religious activities to a grinding halt. The paper examines the impact of the lockdown and social distancing policies on economic activities in India, using a multivariate econometric model for the data collected in the period from 1st January to 31st August 2020. While the social distancing policy is captured in terms of internal movement, domestic travel and international travel restrictions, its effect on the economic activity and the business activity is captured through stock prices, purchasing managers' index and the exchange rate. Confirmed COVID-19 cases and related deaths are also used as the independent variables. The results reveal a significant negative impact of social distancing policies on the economic activity and the business activity, the stock market and the exchange rate. Furthermore, the economic stimulus provided by the Government could not bring a positive influence on the stock market.

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Domestic and international mobility trends in the United Kingdom during the COVID-19 pandemic: an analysis of facebook data

International Journal of Health Geographics ◽

10.1186/s12942-021-00299-5 ◽

2021 ◽

Vol 20 (1) ◽

Author(s):

Harry E. R. Shepherd ◽

Florence S. Atherden ◽

Ho Man Theophilus Chan ◽

Alexandra Loveridge ◽

Andrew J. Tatem

Keyword(s):

United Kingdom ◽

Spatial Scales ◽

International Travel ◽

Population Mobility ◽

International Mobility ◽

Mobility Patterns ◽

Social Distancing ◽

The United Kingdom ◽

The Uk ◽

The Impact

Abstract Background Since early March 2020, the COVID-19 epidemic across the United Kingdom has led to a range of social distancing policies, which resulted in changes to mobility across different regions. An understanding of how these policies impacted travel patterns over time and at different spatial scales is important for designing effective strategies, future pandemic planning and in providing broader insights on the population geography of the country. Crowd level data on mobile phone usage can be used as a proxy for population mobility patterns and provide a way of quantifying in near-real time the impact of social distancing measures on changes in mobility. Methods Here we explore patterns of change in densities, domestic and international flows and co-location of Facebook users in the UK from March 2020 to March 2021. Results We find substantial heterogeneities across time and region, with large changes observed compared to pre-pademic patterns. The impacts of periods of lockdown on distances travelled and flow volumes are evident, with each showing variations, but some significant reductions in co-location rates. Clear differences in multiple metrics of mobility are seen in central London compared to the rest of the UK, with each of Scotland, Wales and Northern Ireland showing significant deviations from England at times. Moreover, the impacts of rapid changes in rules on international travel to and from the UK are seen in substantial fluctuations in traveller volumes by destination. Conclusions While questions remain about the representativeness of the Facebook data, previous studies have shown strong correspondence with census-based data and alternative mobility measures, suggesting that findings here are valuable for guiding strategies.

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ORGANIZATION OF BUSINESS ACTIVITIES OF JOINT VENTURES IN AZERBAIJAN AND THEIR ROLE IN THE IMPLEMENTATION OF TARGETED AND SOCIAL PROJECTS

Scientific Review: Theory and Practice ◽

10.35679/2226-0226-2020-10-5-870-885 ◽

2020 ◽

Vol 10 (5) ◽

pp. 870-885

Author(s):

Y.B.O. Akberli ◽

Keyword(s):

Joint Ventures ◽

Oil And Gas ◽

Oil And Gas Industry ◽

Foreign Market ◽

Social Infrastructure ◽

Social Events ◽

The World ◽

The Republic ◽

Corporate Social ◽

The Impact

Based on longterm statistical and primary reporting data, the article examines and evaluates the impact of the results of business activities of enterprises, including joint ventures operating in the oil and gas industry of Azerbaijan, on the implementation of targeted and social projects both in the republic and in foreign countries. The activities of similar structural units are analyzed, and the results of business activities of joint ventures in the oil industry are obtained. At the same time, special attention is paid to the analysis of the results of business activities of the studied enterprises. The content of the implementation of targeted and corporate social projects is disclosed, as well as the issues of the formation of income of the State Oil Fund, the allocation of funds from it for the implementation of a wide network of social infrastructure facilities, social events and maintenance of intellectual property. The key aspects of SOCAR’s activities on the expansion of the foreign market were considered. Specific target projects of SOCAR in different countries of the world have been analyzed. The potential and dynamics of the number of employees of SOCAR joint companies and their main financial indicators are shown. The essence and significance of the implementation of corporate social projects that contribute to raising the company’s image among the population of the country and in the world community are revealed. The necessity of developing and implementing larger investment and innovation projects in the context of new global challenges and requirements has been substantiated. The expediency of expanding the activities of SOCAR and its subsidiaries abroad in the short and long term was considered. The importance of SOCAR’s activities in solving social and economic problems of the population and enhancing the development of the country’s economy is revealed. The efficiency of SOCAR joint ventures in solving multifunctional tasks facing this large company in the modern period was noted. A number of recommendations were prepared and a group of substantiated proposals for organizing business activities of joint ventures in Azerbaijan was presented, their role in the implementation of targeted and social projects was disclosed.

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10. Mergers and acquisitions

Competition and Antitrust Law: A Very Short Introduction ◽

10.1093/actrade/9780198860303.003.0011 ◽

2021 ◽

pp. 106-117

Author(s):

Ariel Ezrachi

Keyword(s):

Mergers And Acquisitions ◽

Market Structure ◽

Market Power ◽

Joint Ventures ◽

Potential Benefit ◽

Horizontal Mergers ◽

Administrative System ◽

The Us ◽

Vertical Mergers ◽

The Impact

‘Mergers and acquisitions’ discusses mergers and acquisitions. While of potential benefit to society, mergers, takeovers, share acquisitions, and joint ventures also affect the market structure, and at times may reduce competition. When markets become more concentrated following a merger, we move further away from a competitive market structure to a structure in which market power might undermine the competitive process. To address this risk, the competition agency must assess the impact of the transaction. There are important procedural differences between the European administrative system and the US system in terms of the appraisal of mergers and acquisitions. Other types of mergers include: horizontal mergers, vertical mergers, and conglomerate transactions.

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Measles CEA

Open Forum Infectious Diseases ◽

10.1093/ofid/ofx162.153 ◽

2017 ◽

Vol 4 (suppl_1) ◽

pp. S64-S65

Author(s):

Emily Hyle

Keyword(s):

Cost Effectiveness ◽

Cost Saving ◽

Economic Value ◽

Cost Effective ◽

Incremental Cost Effectiveness Ratio ◽

International Travel ◽

Sensitivity Analyses ◽

Base Case ◽

Cost Effectiveness Ratio ◽

The Impact

Abstract Background Most measles importations are due to returning US travelers infected during international travel. We projected clinical outcomes and assessed cost-effectiveness of pretravel evaluation for measles immunity and MMR vaccination among eligible adult US international travelers. Methods We designed a decision tree to investigate pretravel evaluation compared with no evaluation from the societal perspective. Data from the Global TravEpiNet Consortium and published literature informed input parameters (Figure 1). Outcomes included measles cases averted per 10 million travelers, costs, and the incremental cost-effectiveness ratio (ICER, Δcosts/Δmeasles cases averted); we considered ICERs < $100,000/measles case averted to be cost-effective. We performed sensitivity analyses to assess the impact of varying the probability of exposure based on travel destination, and the percentage of travelers with pre-existing measles immunity. Results In the base case, departure after pretravel evaluation resulted in 16 measles importations and 46 transmissions per 10 million travelers and cost $132 million, vs without pretravel evaluation (26 importations and 87 transmissions per 10 million travelers, costing $22 million). Pretravel evaluation averted 51 measles cases per 10 million travelers with an ICER of $2.2 million per case averted. Results were most sensitive to the probability of measles exposure and the traveler’s pre-existing immunity (Figure 2). Pretravel evaluation was cost-effective for travelers to Asia if pre-existing measles immunity was <80%. Evaluation was always cost-effective for travelers to Africa when pre-existing immunity was less than 100% and became cost saving when the percentage of immune travelers was lower (<70%). Travelers who were more likely to be non-immune and were visiting destinations with higher probabilities of exposure were most likely to benefit from pretravel evaluation for measles immunity at excellent economic value. Conclusion As risk of measles exposure increases and likelihood of travelers’ pre-existing immunity decreases, it can be cost-effective or cost saving to assess US international travelers’ measles immunity status and vaccinate with MMR prior to departure. Disclosures All authors: No reported disclosures.

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Impact of Employee Participation on Job Satisfaction, Employee Fairness Perception and Organizational Commitment: A Case of Nepalese Commercial Banks

Saptagandaki Journal ◽

10.3126/sj.v8i0.18457 ◽

2017 ◽

Vol 8 ◽

pp. 1-13 ◽

Cited By ~ 1

Author(s):

Achyut Gyawali

Keyword(s):

Job Satisfaction ◽

Organizational Commitment ◽

Joint Ventures ◽

Commercial Banks ◽

Banking Sector ◽

Joint Venture ◽

Employee Participation ◽

Fairness Perception ◽

Public Banks ◽

The Impact

Bank is one of the major institutions in the financial sector of any economy. Banking sector plays a vital role as a financial intermediary in the economic development of the country. Among those factors, impact of employee participation on job satisfaction, employee fairness perception and organizational commitment, is also considered as one of the most important factors that improves the performance of commercial banks. This study deals with the fundamental issues associated with the impact of employee participation on job satisfaction, employee fairness perception and organizational commitment of commercial banks of Nepal. In selecting the most reliable and representative samples, stratified sampling techniques was used. The population of the commercial banks was stratified as joint ventures, non-joint ventures and public banks. 15 commercial banks were selected as the sample. The total number of observations used for this study is 200 which include 70 observations from the joint venture banks, 110 observations from the non-joint venture banks and 20 observations from the public banks. Impact of employee participation on job satisfaction, employee fairness perception and organizational commitment have positive significant relation. Among all three determinants organizational commitment is more influenced by employee participation as it has highest correlation coefficient. Most of the surveyed employees agreed that management gives recognition for job performance and they are satisfied with the freedom in work; every employee has opportunity to get promotion in bank, and they are willing to put in a great deal of effort beyond expected in order to help the organization to be successful.The Saptagandaki Journal Vol.8 2017: 1-13

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