scholarly journals Romania’s tourism industry in free fall

2020 ◽  
Vol 2 (1) ◽  
pp. 3-13
Author(s):  
Constantin Anghelache ◽  
Mădălina-Gabriela Anghel ◽  
Ştefan Virgil Iacob ◽  
Ştefan Gabriel Dumbravă
Keyword(s):  
Gross Domestic Product ◽  
Free Fall ◽  
Normal Activity ◽  
Tourism Industry ◽  
Domestic Product ◽  
State Budget ◽  
Goods And Services ◽  
Overnight Stays ◽  
The Postponement ◽  
Data Subject

Abstract Tourism is one of the consistent branches of the national economy, which can ensure some concrete results and a tailor-made contribution to the formation of the Gross Domestic Product. The tourism industry is also called invisible trade in the sense that, although it does not export goods and services, by practicing it, by developing it, it ensures consistent revenues to the state budget, but also ensures the possibility of increasing Gross Domestic Product. Analysing the current situation of the health and economic-financial crisis, it is found that in 2020 HoReCa, the tourism industry, complementary services have decreased alarmingly. Against this background, tourism has reduced its contribution to the formation of the Gross Domestic Product, which can lead to an even greater decrease. Investments in tourism are eroding. There is no possibility of refinancing despite support measures provided by the authorities. We say in spite of some measures granted because the postponement of some payments, the postponement of some credits, the transition to technical unemployment and others will be coupled later with other measures with almost devastating effect for the Romanian economy. Thus, many jobs will be lost. On the other hand, tourism companies will not be able to move from technical unemployment to normal activity and give a minimum of six months to those in this situation. The tourist market practically does not exist because there are only sequential possibilities in which it takes place, but especially under the rule of business activities, which are also considered tourist activities. The tourist activity materialized through arrivals, overnight stays, arrivals and departures has decreased steadily and this result mainly from the data subject to the study we mentioned. It is necessary to interpret these data and possibly find ways to recover.

scholarly journals Tourism contribution to Gross Domestic Product (GDP) and Gross Value Added (GVA)

2020 ◽  
Vol 10 (3) ◽  
pp. 176-182
Author(s):  
Milin Ioana Anda ◽  
Merce Iuliana Ioana ◽  
Iancu Tiberiu ◽  
Pet Elena ◽  
Tigan Eugenia
Keyword(s):  
Gross Domestic Product ◽  
Value Added ◽  
Tourism Industry ◽  
Domestic Product ◽  
Data Series ◽  
National Accounts ◽  
Tertiary Sector ◽  
Goods And Services ◽  
Gross Value Added ◽  
Macroeconomic Indicators

The overall evolution of the economy is usually appreciated by two macroeconomic indicators GDP and GVA, which by their value gives us clear information on the state of the economy.  Gross domestic product (GDP), the main macroeconomic aggregate of national accounts, is the final result of the production activity of resident producer units and which corresponds to the value of goods and services produced by these units for final consumption. Gross Value Added (GVA) is the balance of the production account and is measured as the difference between the value of the goods and services produced (valued at basic prices) and the intermediate consumption (valued at the buyer's prices), thus representing the new value created in the production process. GVA is calculated before calculating the consumption of fixed capital. Since 1990, we have been confronted with a major restructuring of the way GDP and GVA are created due to the intensive process of restructuring the economy. In the paper we will analyze the basis of the processing of national statistical data, how the tourism component of the tertiary sector contributes to the formation of the aggregate indicators presented above. In 2016, Romania had a GDP of 169.6 billion euros, below the Czech level (174.4 billion euros), Greece (175.9 billion euros) and Portugal (184.9 billion euros). Data series published by the European Statistical Office show that in the first quarter of this year, Romania's GDP adjusted for seasonal influences was 44.2 billion euros, while the value of GDP- Greece was 43.96 billion euros, the Czech Republic's 44.85 billion euros, and Portugal's 47.37 billion euros. In terms of GVA training, Romania is included in the European Union's Statistical Yearbook 201 6 as the country with the largest contributions to the Gross Value Added  in the economy from industry, agriculture and construction, simultaneously with the lowest Public sector contribution (administration, defense, education, health and social welfare, etc.) Although professional, scientific and technical activities have seen the largest increase in the share of Gross Value Added  training, they remain below the average of 10.4% Registered on the whole EU. There is an increase in the art, entertainment, recreation and other activities related to tourism - which brought us near the European customs and contributed to the "structural convection" of the Romanian economy. Touristic activity, particularly complex, with upstream and downstream implications, generates a tourism industry, whose components contribute to the formation of GDP and national  Gross Value Added   We will analyze the share of tourism in Romania's Gross Domestic Product in the period 2008-2014, gross value added in the tourism industry  direct gross value added from tourism  and gross domestic product of tourism  in 2013 and 2014.   Keywords: macroeconomic indicators, tourism industry, Gross Domestic Product, Gross Value Added economy

scholarly journals ECONOMETRICS OF NATIONAL SECURITY AND DEFENSE OF UKRAINE

2021 ◽  
pp. 44-52
Author(s):  
Y. Marko ◽  
V. Kuzmenko
Keyword(s):  
Economic Development ◽  
Gross Domestic Product ◽  
National Security ◽  
Factor Model ◽  
The United States ◽  
Domestic Product ◽  
Weak Efficiency ◽  
State Budget ◽  
External Threats ◽  
Gas Market

The article provides the importance of Ukraine's economic development to ensure national security, highlights the main internal and external threats to Ukraine's national security, such as: hybrid economic war, the "needle" of loans from the International Monetary Fund, communal tariffs, opening the gas market in Ukraine, inefficient introduction of the circulation of domestic agricultural lands and insufficient use of the capabilities of the country's economy. The cyclical nature of economic development is practically proved by distinguishing four phases of economic development of the studied countries for the last ten years, weak efficiency of economic policy of Ukraine and possible applied mechanisms of economic growth. An econometric analysis of GDP of Ukraine and countries that occupy the largest share in Ukrainian imports of goods, the budget of Ukraine and the budget of the Ministry of Defense of Ukraine using the method of least squares and even linear regressions, calculated the intensity of changes in Ukraine's economic processes. The model of gross domestic product of Ukraine depending on the gross domestic product of China, Poland, Russia, Turkey, Germany, Italy, Belarus, the United States and France (nine-factor model), as well as the model of Ukraine's defense budget depending on the domestic gross domestic product product, budget expenditures, taxes, minimum and average wages and inflation (seven-factor model). On the example of the Ministry of Defense of Ukraine as a public sector institution, the registration algorithm for economic (additional) activities by military units and the distribution of revenues to increase the special fund of the state budget of Ukraine and create recovery of the country economy in general.

Estimating the direct contribution of tourism to Rwanda’s economy: Tourism satellite account methodology

2019 ◽  
Vol 20 (3) ◽  
pp. 259-271
Author(s):  
Pius O Odunga ◽  
Geoffrey Manyara ◽  
Mark Yobesia
Keyword(s):  
Gross Domestic Product ◽  
Informal Sector ◽  
Value Added ◽  
Capital Formation ◽  
Tourism Industry ◽  
Fixed Capital ◽  
Domestic Product ◽  
Gross Value Added ◽  
Fixed Capital Formation ◽  
Economic Contribution

The tourism industry is poised to command a significant role in the economy of Rwanda, a low-income developing country that is rapidly transforming into a service-oriented economy. However, the industry does not exist as a distinct entity in a country’s national accounts leading to difficulties in estimating its role. Besides, the existence of a significant informal sector aggravates the situation. This study used tourism satellite accounts approach to estimate the economic contribution of tourism. Using primary data from various tourism surveys, six core tables of the tourism satellite accounts framework are presented to estimate the direct economic contribution of tourism to Rwanda’s economy in 2014. In this year, a total of 1,219,529 international tourists visited the country while 560,000 residents took part in domestic tourism trips resulting in internal tourism expenditure/consumption amounting to RWF 261.2bn. This generated an estimated RWF 197.5bn as gross value added by the tourism characteristic industries. Direct tourism gross value added was estimated at RWF 120.0bn while direct tourism gross domestic product, a measure of the direct effects of internal tourism consumption on gross domestic product of the economy was computed at RWF 128.3bn (or 2.5% of Rwanda’s gross domestic product) in the year. In addition to the core six tourism satellite accounts tables, the levels of tourism employment (about 89,000 jobs) tourism gross fixed capital formation (slightly over RWF 200bn) and tourism collective consumption (over RWF 7bn) were estimated. Under this study, the international methodological recommendations on tourism satellite accounts were implemented for Rwanda. The contribution of tourism to gross domestic product, employment, investment, and collective consumption was quantified and estimated. Informal sector tourism activities were included in these estimates. Gross fixed capital formation and collective consumption estimates are tentative due to conceptual considerations documented by the methodological framework.

scholarly journals alteration in GDP due to new methods

2019 ◽  
Vol 15 (4) ◽  
pp. 224-242
Author(s):  
Simran Nagra
Keyword(s):  
Growth Rate ◽  
Data Analysis ◽  
Gross Domestic Product ◽  
Market Price ◽  
Domestic Product ◽  
Programme Implementation ◽  
Data Bases ◽  
Goods And Services ◽  
New Methods ◽  
Central Statistical

Gross Domestic product is the final value of goods and services produced within the geographical boundaries of a country during a specified period of time, normally a year. This single word is wide concept in itself which display the entire scenario of an economy. The change in the GDP calculations was devised by India’s statisticians working for the central Statistical Organisation that is under the Ministry of Statistics & Programme Implementation (MOSPI), who released the new figures. There have been no changes so far in calculation of GDP leaving shift in base year. Changes have occured in GDP analysis like GDP which used to calculate at factor cost has been converted into market price and Central statistical organisation (CSO) has broadened the base to collect data analysis. Changes are  making the increment in gross domestic product (GDP) by more than 40 per cent from 4.7 per cent in FY 2012-13 to 6.9 per cent (2013-14). This 40 per cent increment is due to change in methodology.The relevant data were collected from the specified documents, economic surveys and compiling data bases in order to analyze the material and arrive at more accurate comprehension regarding the data analysis of growth rate in the wider terms. The paper has shown that alterations which have been adopted, all are lifting the growth rate up whether it’s being due to change in method or being consideration of GDP deflators.

scholarly journals PENGARUH ZAKAT INFAK SEDEKAH (ZIS) TERHADAP PENGANGGURAN DI INDONESIA: METODE AUTOREGRESSIVE DISTRIBUTED LAG (ARDL)

2020 ◽  
Vol 7 (2) ◽  
pp. 372
Author(s):  
Tunjung Pramesti Zahra ◽  
Ilmiawan Auwalin
Keyword(s):  
Gross Domestic Product ◽  
Education Level ◽  
Domestic Product ◽  
State Budget ◽  
Research Results ◽  
Government Subsidies ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Analysis Technique

This study aims to determine the effect of Zakah Infaq Shadaqah (ZIS) funds channeled by the National Amil Zakat Agency/Badan Amil Zakat Nasional (BAZNAS) on unemployment in Indonesia during 2002-2017. The study was conducted using a quantitative approach. The control variables used for this research are Gross Domestic Product (GDP), education level, investment, and government subsidies. The analysis technique used is Autoregressive Ditributed Lags (ARDL). The data in this study were obtained from the Central Statistics Agency page, BAZNAS, and Indonesian State Budget (Anggaran Pendapatan dan Belanja Negara). The research results partially in short term shows that ZIS has a positive and significant effect on unemployment. While partially long-term research results, ZIS has a negative and significant effect on unemployment. Simultaneously, the variable ZIS, GDP, education level, investment, and government subsidies have significant effects in the short and long term on unemployment in Indonesia in 2002-2017.Keywords: Zakat, Infaq, Shadaqah, Unemployment, Gross Domestic Product, Education Level, Investment, Subsidies, BAZNAS

scholarly journals Reforming the armed forces of the country and military-patriotic education as a strategic advantage in the economic rivalry of countries in the global economy

2019 ◽  
pp. 34-44
Author(s):  
Ihor Honak
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Global Economy ◽  
Mutual Influence ◽  
Armed Forces ◽  
The State ◽  
Domestic Product ◽  
State Budget ◽  
Patriotic Education ◽  
National Defence

Purpose. The aim of the article is to study the features of mutual influence of expenditures of the Ukrainian state budget on national defence, youth and sports on the gross domestic product of Ukraine in the conditions of aggravation of economic rivalry in the global economy. Methodology of research. The following methods are used during the research: generalization of information and literature sources – to formulate proposals on the progressive development of the Ukrainian economy and quality of its labour resources, on the cohesion of the society and its psychological and physical health through the implementation of expenditures of the Ukrainian state budget for national defence and youth and sports; regression and correlation analysis – to analyse the mutual impact of GDP and expenditures of the Ukrainian state budget on national defence, youth and sports. Findings. Methods for educating young people are proposed in order to provide an educated and physically healthy workforce for the national economy and defence and security. The influence of arms exports and military equipment on the economy of Ukraine is analysed. The need to carry out some reforms of the Armed Forces of Ukraine in order to increase the country's defence capability and ensure economic prosperity is substantiated. The correlation between the growth of gross domestic product and expenditures of the State Budget of Ukraine through the Ministry of Defence and the Ministry of Youth and Sports, which is linear, is established. Suggestions are made to reform other specific aspects of the state mechanism in order to increase the country's defence capability and ensure the following economic growth. Originality. The article provides suggestions for reforming youth policy and the national defence sphere to ensure economic growth and strengthen the country's defence capability. Correlation between the growth of gross domestic product and expenditures of the State Budget of Ukraine through the Ministry of Defence has been established (increase of expenditures on the Ministry of Defence by 1 billion hryvnias has a direct impact on GDP growth in the amount of 29.884 billion hryvnias) and the Ministry of Youth and Sports (growth spending on the Ministry of Youth and Sports by UAH 1 million influences GDP growth by UAH 1.045 billion), which is close. Practical value. The practical significance of the obtained results is the possibility of studying the mutual influence of the expenditures of the Ukrainian state budget, spent on national defence, youth and sports, on the gross domestic product of Ukraine in the conditions of aggravation of economic rivalry in the global economy. Key words: national security; arms and military equipment exports; military-patriotic education of youth; reform; economic growth; unemployment; employment; gross domestic product.

scholarly journals Examining the Export-led Growth Hypothesis: The case of Croatia

2015 ◽  
Vol 61 (3) ◽  
pp. 22-31 ◽  
Author(s):  
Vlatka Bilas ◽  
Mile Bošnjak ◽  
Sanja Franc
Keyword(s):  
Gross Domestic Product ◽  
Equilibrium State ◽  
Granger Causality ◽  
Domestic Product ◽  
Short Term ◽  
Goods And Services ◽  
Subsequent Period ◽  
The Relationship ◽  
Growth Hypothesis

Abstract This paper examines the relationship between gross domestic product and exports of goods and services in Croatia between 1996 and 2012. The research results confirmed unidirectional Granger causality from the exports of goods and services to gross domestic product. Following the Engle-Granger approach to cointegration, long-term equilibrium as well as short-term correlation between the observed variables was identified. Exports of goods and services and gross domestic product (GDP) in Croatia move together. If the two observed variables move away from equilibrium, they will return to their long-term equilibrium state at a velocity of 24.46% in the subsequent period. In accordance with the results, we found evidence supporting the export-led growth hypothesis in Croatia. As the outcomes indicated, to recover the economy, Croatia should put more emphasis on the development of exporting sectors.

scholarly journals Initial Assessment of the Impact of the SARS-CoV-19 on Tourism in Mexico

2021 ◽  
Vol 16 (3) ◽  
pp. 1-23
Author(s):  
Antonio Kido-Cruz ◽  
María Teresa Kido-Cruz
Keyword(s):  
Gross Domestic Product ◽  
Tourism Industry ◽  
Domestic Product ◽  
Initial Assessment ◽  
Input Output ◽  
Output Matrix ◽  
Tourism Activity ◽  
The Impact

The main objectives of this document were to evaluate the impact of SARS-CoV-19 on the tourism industry and infer the share of tourism GDP in Mexico's national GDP. Information from the input-output matrix and the tourism satellite account was used. Results show that, when all tourism disappears, the Gross Domestic Product (GDP) decreases by 8.98%. By simulating a probable scenario of recovery of tourist activity for the year 2021 of 25%, the tourism GDP increases by 9% and for a scenario of 50%, GDP rises to 12%. It is suggested to project recovery plans in the local hotel and restaurant industries. The originality consisted in building a tourism input-output matrix based on data and information from the tourism satellite account. The main limitation is that we only worked with data from 2013, the most recent published by INEGI. It is recommended to replicate the study for tourism activity not only in GDP but also in employment and wages.

scholarly journals THE IMPORTANT FACTORS OF TOURISM DEVELOPMENT IN SINGAPORE

IQTISHODUNA ◽  
2012 ◽  
Author(s):  
Azhar Harun, Eko Suprayitno
Keyword(s):  
Gross Domestic Product ◽  
National Income ◽  
Tourism Development ◽  
Field Research ◽  
Research Paper ◽  
Tourism Industry ◽  
Significant Source ◽  
Domestic Product ◽  
Index Index ◽  
Major Factors

This research paper will analyze the development of tourism industry in Singapore in which it focuses on the increasing number of tourist visit to Singapore, that contribute a significant source of tourism sector’s income and its role to generate the Singapore’s Gross Domestic Product (GDPS). The research aims to examine general characteristics of Singapore’s tourism industry and its role within the process of globalization. By applying the theoretical explanations, this research will observe several main questions: How the tourist locates Singapore as a tourist place and how they enter Singapore. In addition, what are the possible consequences on Singapore especially the influence on its National Income? The field research has been conducted at the most popular location of tourist area. Three equations had formed the hypothesis to answer those questions. First, the output of the study has shown that the price of consumer index (Index) have influence the increasing number of tourist to Singapore (TouS) in a positive way. Second, there are many other factors that contributed to the tourism sector’s income, however, the output of this study revealed only the total number of hotels in Singapore (HoS) is the major factors that contributed to the tourism sector’s income (ImS).

scholarly journals An Empirical Analysis Of The Determinants Of Exchange Rate In Nigeria

2018 ◽  
Vol 6 (5) ◽  
Author(s):  
Oke, Michale Ojo. ◽  
Adetan, Taiwo Temitayo
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Gross Domestic Product ◽  
Inflation Rate ◽  
Exchange Rate Policy ◽  
Domestic Product ◽  
Goods And Services ◽  
Negative Effect ◽  
Rate Policy ◽  
The Government

This study examined empirically the determinants of exchange rate in Nigeria using the ARDL Bounds test approach to co-integration for the period spanning 1986-2016. The result of the analysis shows that the gross domestic product (GDP), Interest rate (INT) and inflation rate (INF) have positive effect on exchange rate in Nigeria while degree of openness (DOP) recorded a negative effect on exchange rate (EXR) in Nigeria. The Error Correction Mechanism result appeared to be correctly signed and significant. The study therefore concluded that gross domestic product, interest rate and inflation rate are the major determinant of exchange rate in Nigeria under the study period. It is therefore recommended that government should focus more on production of goods and services that can be exported and also introduce policies that can discourage importation of goods into the country. The government must pursue a realistic and pragmatic exchange rate policy in  the  less  free  trade areas that would stem capital  flight and  ensure more investment in the Nigerian economy.

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