The Impact Of Economic Crisis On Tourism Industry: A Bangladesh Perspective

2015 ◽  
Vol 1 (1) ◽  
pp. 15
Author(s):  
Md. Ziaul Haque
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Political Crisis ◽  
Strong Impact ◽  
Negative Consequences ◽  
Policy Makers ◽  
Tourism Product ◽  
International Tourist ◽  
Sustained Recovery ◽  
The Impact

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money

The Impact of Economic Crisis on Tourism Industry: A Bangladesh Perspective

2016 ◽  
Vol 2 (1) ◽  
Author(s):  
Md. Ziaul Haque
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Political Crisis ◽  
Strong Impact ◽  
Negative Consequences ◽  
Policy Makers ◽  
Tourism Product ◽  
International Tourist ◽  
Sustained Recovery ◽  
The Impact

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money

scholarly journals Exploring of a Small-Scale Tourism Product under Economic Instability: The Case of a Greek Rural Border Area

Economies ◽  
2020 ◽  
Vol 8 (3) ◽  
pp. 52
Author(s):  
Fotios Chatzitheodoridis ◽  
Achilleas Kontogeorgos
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Marketing Strategies ◽  
Local Economy ◽  
Small Scale ◽  
Policy Makers ◽  
Tourism Product ◽  
Regional Unit ◽  
Northwestern Greece ◽  
Structured Questionnaire

The Regional Unit of Kastoria is a rural area in Northwestern Greece, located on the borderline with Albania. Kastoria city, the capital and the largest city of the Kastoria Regional Unit, is known for the production of high-quality fur products. The fur industry has faced a marked crisis from the 1980s onwards, which has contributed to pushing the local economy towards the development of tourism. However, the tourism industry, developed during the last 20 years, has an undefined character. Specifically, tourism is characterized as small-scaled owing to the limited number of mainly domestic tourists, who, in combination with the economic crisis of the last decade, slowed down the initial accelerated trend. The purpose of this paper is to capture the opinions and attitude of Kastoria visitors towards tourism, as well as to illustrate the changes as a consequence of the economic crisis. In this context, a survey was carried out in two periods (in 2008 at the beginning of economic crisis and in 2017 at the end of this crisis) using a structured questionnaire and with a sample of 232 visitors in total. Our findings are highlighted in an effort for policy makers and marketing planners to formulate appropriate marketing strategies and to reconstruct and promote the local touristic product and attract visitors in these border areas.

scholarly journals A Study of Climate Variability and Socioeconomic Impact on Tourism Industry of Nepal

2016 ◽  
Vol 2 (1) ◽  
pp. 20
Author(s):  
Raju Pokharel ◽  
Jagdish Poudel ◽  
Aseem Raj Sharma ◽  
Robert K Grala
Keyword(s):  
Climate Change ◽  
Outdoor Recreation ◽  
Inflation Rate ◽  
Tourism Industry ◽  
Socioeconomic Impact ◽  
Policy Makers ◽  
Socioeconomic Environment ◽  
International Tourist ◽  
The World ◽  
The Impact

<p><em>In Nepal, tourism is the second largest industry after agriculture. Furthermore, Nepal offers numerous opportunities for adventurous outdoor recreation, especially in the Himalayas, and attracts tourists from all over the World. However, future prosperity of Nepal’s tourism industry might be affected by a changing climate and a socioeconomic environment. A log-level regression model is employed to estimate the impact of climatic and socioeconomic factors on the number of international tourists visiting Nepal. Climatic estimates indicated that an increase in temperature did not have a significant impact on the numbers of international tourist arrival. Results show that the number of international tourists visiting Nepal was positively associated with GDP and population growth, inflation rate, and an exchange rate. These results help policy makers for facilitating growth of tourism industry and its adaptability to climate change in Nepal. </em></p><p><em><br /></em></p>

scholarly journals ASSESSMENT OF THE ECONOMIC IMPACT OF THE REGION'S TOURISM INDUSTRY: MULTIPLICATIVE EFFECT

2021 ◽  
Vol 71 (3) ◽  
Author(s):  
Oksana Pidvalna ◽  
Svitlana Bohuslavska
Keyword(s):  
Information Technologies ◽  
Economic Effect ◽  
Tourism Industry ◽  
Retail Trade ◽  
Transport Infrastructure ◽  
Tourism Product ◽  
Main Indicator ◽  
Multiplier Effect ◽  
Business Entities ◽  
The Impact

The tourism industry is expanding its influence on the region’s economy by increasing the accessibility and accessibility of tourist facilities (development of transport infrastructure, communication and information technologies, formation of extensive networks of the hospitality industry, wholesale and retail trade, etc.). A characteristic feature of the regional tourism industry is the multiplicative economic effect, which is manifested through the positive dynamics of economic indicators of business entities involved in the business process of creating and implementing a comprehensive tourism product. The paper proves that the sphere of tourism is formed and developed in the relevant area under the influence of various factors that are reproduced in this area. However, the sphere of tourism itself is considered as a factor that influences and changes the socio-economic development of the region. The main indicator of the multiplier effect is the cost of tourists, so the policy of the region should be aimed at maximally stimulating such costs. This is the first task of maximizing the multiplier effect. The second task is to reduce the level of savings. Recognizing the fact that the impact of the multiplier effect of tourism, compared to the impact of other activities, is the most significant because it is a catalyst for the development of many industries, considering existing models for calculating the generalized multiplier (and on their basis), the author proposes to create a method of accounting for the indirect impact of tourism on a number of components of the economy and social sphere (differentiated model of the multiplier) of the region and the country as a whole. The assessment of individual components of the tourism multiplier should be based on a clear methodological basis and the availability of appropriate software. Thus in each component of the tourist multiplier the contribution to the corresponding sector of economy and social policy of the state should be considered. Thus, the use of a tourism multiplier to assess the impact of social processes on the tourism industry makes it possible to determine the equilibrium relationship between consumption and income, ie the process of income generation in different sectors of the economy, at the expense of tourists and tourists.

scholarly journals The Ability of Selected European Countries to Face the Impending Economic Crisis Caused by COVID-19 in the Context of the Global Economic Crisis of 2008

2020 ◽  
Vol 13 (8) ◽  
pp. 179
Author(s):  
Róbert Oravský ◽  
Peter Tóth ◽  
Anna Bánociová
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Economic Crisis ◽  
Economic Effects ◽  
European Countries ◽  
Consumer Confidence ◽  
Negative Consequences ◽  
Confidence Index ◽  
The Interest Rate ◽  
The Impact

This paper is devoted to the ability of selected European countries to face the potential economic crisis caused by COVID-19. Just as other pandemics in the past (e.g., SARS, Spanish influenza, etc.) have had negative economic effects on countries, the current COVID-19 pandemic is causing the beginning of another economic crisis where countries need to take measures to mitigate the economic effects. In our analysis, we focus on the impact of selected indicators on the GDP of European countries using a linear panel regression to identify significant indicators to set appropriate policies to eliminate potential negative consequences on economic growth due to the current recession. The European countries are divided into four groups according to the measures they took in the fiscal consolidation of the last economic crisis of 2008. In the analysis, we observed how the economic crisis influences GDP, country indebtedness, deficit, tax collection, interest rates, and the consumer confidence index. Our findings include that corporate income tax recorded the biggest decline among other tax collections. The interest rate grew in the group of countries most at risk from the economic crisis, while the interest rate fell in the group of countries that seemed to be safe for investors. The consumer confidence index can be considered interesting, as it fell sharply in the group of countries affected only minimally by the crisis (Switzerland, Finland).

scholarly journals How do traditional Māori values affect the sustainability of Māori tourism businesses?

2021 ◽  
Author(s):  
◽  
Adam Ransfield
Keyword(s):  
New Zealand ◽  
Research Question ◽  
Social Science Research ◽  
Science Research ◽  
Tourism Industry ◽  
Structured Interviews ◽  
Business Sustainability ◽  
Tourism Product ◽  
Kaupapa Māori ◽  
The Impact

<p>The Māori economic asset base has seen significant growth over the past 100 years. Research estimates the Māori economy to be valued at 50 billion (NZ Foreign Affairs & Trade, 2018). While this figure represents the Māori economy, Māori tourism makes a significant economic contribution to this asset base. When considering the different aspects of the New Zealand tourism product, a key aspect that sets New Zealand tourism apart from other destinations is the unique Māori culture. This cultural aspect is a key motivating factor for international tourists intending on visiting New Zealand.  Māori tourism businesses offer a range of tourism products and services that are embedded in, and informed by Māori values. When incorporated in business, many of these traditional Māori values align closely to the three pillars of business sustainability. Literature on Māori tourism, Māori values and business sustainability provide some insight into this phenomenon. However, little is known about how these three components interrelate. Ultimately very little is known about how traditional Māori values impact the business sustainability of Māori tourism businesses. The aim of this thesis is to investigate whether Māori tourism businesses incorporate traditional Māori values into their business and if so, how does the application of these values affect the sustainability of Māori tourism businesses.  Developed from an interpretive social science research paradigm aligned with Kaupapa Māori research, this thesis assesses the impacts of the incorporation of Māori values on the business sustainability of Māori tourism businesses. Semi-structured interviews were selected as an appropriate method of data collection. 12 respondents from eight Māori tourism businesses were interviewed and their responses along with an analysis of the wider literature enabled the researcher to answer the overarching research question – how are traditional Māori values affecting the business sustainability of Māori tourism businesses?   Key research findings include the following: the importance of hiring Māori, developing cultural capacity of staff and stakeholders, preventing cultural misappropriation, providing opportunities for local communities, the relationship of Māori with the land, the importance of sustainable relationships, the impact of climate change on Kaitiakitanga, and the importance of making a profit – but not at the detriment of culture and the environment. The findings identified that to have the ability to implement sustainable practices requires financial sustainability.  This thesis makes a contribution to the literature on Māori values, Māori tourism and business sustainability by providing a greater understanding of which Māori values are applied by Māori tourism businesses and how these values impact business sustainability. In particular, this thesis has done something that previous literature has not, that is, it has attributed the specific effects of individual Māori values against the pillars of business sustainability. This gives the indication of which values have the greatest impact on business sustainability. Finally, in accordance with Kaupapa Māori research, this thesis has provided a practical contribution to the Māori tourism industry. This contribution is in the form of recommendations made to enhance the business sustainability of Māori tourism businesses.</p>

SPECIALIZED PRODUCTS OF TOUROPERATORS IN MICE TOURISM IN THE CONDITIONS OF CRISIS

2020 ◽  
Author(s):  
Ralitsa Georgieva ◽  
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Market Position ◽  
Unique Challenge ◽  
Global Economic Crisis ◽  
New Type ◽  
Mice Tourism ◽  
And Behavior ◽  
The Impact ◽  
Innovative Approaches

The relevance of the researched topic is determined by the impact of the current pandemic situation on the tourist indicators worldwide. The tourism industry is facing a unique challenge to quickly restore the pace of travels. Trends of transformation of the consumer's preferences and behavior in tourism are determined and as a result - the need of forming a new type of tourism products by the tour operators in order to maintain their market position and competitiveness. The present study aims to explore and analyze the possibilities for creating innovative approaches of tour operators in order to diversify tourism products of specialized types of tourism - business, by modeling new forms of traveling for business in conditions of global economic crisis and restrictions on conducting international traveling.

scholarly journals Impact of “Nepal Tourism Year 2011” on Tourist Arrival in Pokhara

2014 ◽  
Vol 6 ◽  
pp. 22-50
Author(s):  
Biswo Kallyan Parajuli ◽  
Yog Raj Paudel
Keyword(s):  
Information Access ◽  
Tourism Industry ◽  
Tourist Destinations ◽  
International Tourist ◽  
The Impact

Tourism is a growing industry in Nepal. Pokhara is one of the major tourist destinations in Nepal. To foster the tourism industry in Nepal then government of Nepal decided on 2008 to launch a national tourism campaign “Nepal Tourism Year 2011” targeting to bring one million international tourists into Nepal in the year 2011. This paper focuses on analyzing the impact of Nepal Tourism Year 2011’s advertisement campaign on tourist arrival in Pokhara city. Also it attempts to highlight the impact of network and information access on tourism arrival. A sincere attempt has also been made to investigate the impact of NTY in bringing international tourist in Nepal particularly in Pokhara. DOI: http://dx.doi.org/10.3126/hjsa.v6i0.10687   Himalayan Journal of Sociology and Anthropology Vol.6 2014: 22-50

Anti-Crisis Methods of Renewal Tourist Image of Territory

2017 ◽  
Vol 22 ◽  
pp. 67-71
Author(s):  
Olena Vynogradova ◽  
Mariia Smykova
Keyword(s):  
Tourism Industry ◽  
Political Crisis ◽  
Negative Consequences ◽  
Highly Qualified ◽  
State Budget ◽  
Public And Private ◽  
Foreign Experience ◽  
Political Conflicts ◽  
Image Building

This article is devoted to analysis of foreign experience of renewal attractive tourist image for countries and regions after military-political conflicts. Several approaches to defining the image of a territory were considered. In analysis of foreign experience the research focuses on instruments of crisis management in countries such as Turkey, Egypt and Thailand as a part of territory’s image-building that could use for restoring tourist image. Tourism is one of the main sources of income to the state budget in these countries. Also, all these countries have suffered from military-political conflicts that caused spontaneous formation of negative tourist image and a decline in tourist flow. We can observe a similar situation today in Ukraine. The research was briefly analyzed the negative consequences of the political crisis for Ukrainian tourism industry. In conclusion the basic directions to neutralize of negative tourist image of the territory are given. Also it was noted that without a deep analysis of the current tourist image, involvement of highly qualified specialists, investment and funds, close and trustful cooperation between public and private sectors to achieve the objectives for restoring the tourist image can become long-term and time-consuming process, that can adversely influence not only on the tourist activity in the country, but also on the whole economy.

scholarly journals Revisiting personalization through customer experience journey

2020 ◽  
Vol 19 (4) ◽  
pp. 430-460
Author(s):  
Megi M. Gogua ◽  
◽  
Maria M. Smirnova ◽  
Keyword(s):  
Customer Experience ◽  
Strong Impact ◽  
Negative Consequences ◽  
Research Directions ◽  
Information Transparency ◽  
Common Path ◽  
The Common ◽  
Customer Trust ◽  
Post Purchase ◽  
The Impact

Firms use personalization in order to influence the customer experience through numerous touch points. This influence has positive and negative consequences, which have further strong impact on the customer responses and overall success of the firm’s communication with the customer. Personalization and customer experience have the common path of their development and share the fields of applications; however, scientific literature is currently fragmented and analyzes the narrow aspects of either personalization or customer experience. This conceptual article investigates personalization with the focus on the overall customer experience journey and its use for the estimation of customer responses and touch points’ utilization. The need for this focus is based on the necessity of the firm to understand customer responses to personalization as well as the factors appearing at pre-purchase, purchase and post-purchase stages of customer decision making. The theoretical novelty of the paper embraces positive and negative consequences of personalization for identification of future empirical research directions. These conclusions include the impact of anthropomorphization through embedded automated interactive messaging, history-based and group-based recommendation systems as well as the impact of increased touch points and influence of informational vulnerability on customer trust, click-through intentions and reactance. Managerial contributions relate to the suggestions on possible actions required to either enforce particular effects with positive outcomes for customer experience or diminish negative ones in terms of technological facilitation, measurement possibilities and enhancement of information transparency.

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