scholarly journals Sri Lankan Travel and Tourism Industry: Recent Trends and Future Outlook towards Real Estate Development

2020 ◽  
Author(s):  
Lasika Madhawa Munasinghe ◽  
Terans Gunawardhana ◽  
R. G. Ariyawansa
Keyword(s):  
Sri Lanka ◽  
Real Estate ◽  
Tourism Industry ◽  
Policy Implications ◽  
High Rate ◽  
Real Estate Development ◽  
Total Employment ◽  
Future Outlook ◽  
Travel And Tourism ◽  
The World

Tourism is considered as an important economic activity around the world due to its direct economic impact as well as it is significant indirect and induced impacts. Granting to the World Travel and Tourism Council, Travel and Tourism Industry is one of the world’s most significant economic sectors accounting for 10.4% of global GDP and 313 million jobs, or 9.9% of total employment, in 2017. The direct and indirect impact of the industry on real estate development in the world is tremendous in terms of accommodation, catering to food and beverages, leisure, pleasure and relaxation. In Sri Lanka, tourism is the third-largest export earner in the economy, and during the past five years, there has been an unprecedented growth in the industry. However, tourism in Sri Lanka has much more untapped potential; thereby, the sector is poised to generate a range of growth and investment opportunities. However, it is only through the right policies and investment decisions; Sri Lanka can leverage the economic prospects of the Travel and Tourism Industry. This study analyses the importance of the Travel and Tourism Industry in terms of real estate development. It reviews significant trends that are shaping the growth and development of the Travel and Tourism Industry in Sri Lanka and aim to produce useful inputs for policy implications. The analysis is based on modified Tourism Satellite Account: Recommended Methodological Framework 2008 published by World Travel and Tourism Council, and carried out analysing both academic and non-academic publications, including published journal articles, annual and quarterly reports published by United Nations’ World Tourism Organization, World Travel and Tourism Council, World Economic Forum and Sri Lanka Tourism Development Authority and through the raw data obtained by World Travel and Tourism Council for Sri Lanka. As per the analysis, the future outlook is bright for the tourism sector in Sri Lanka, and the country is expected to maintain a high rate of growth well into the next decade.

Indian Tourism Industry

2019 ◽  
pp. 151-162
Author(s):  
Natisha Saqib
Keyword(s):  
Economic Growth ◽  
Tourism Industry ◽  
High Rate ◽  
Paradigm Shifts ◽  
Future Outlook ◽  
Current Trends ◽  
Tourism Sector ◽  
Reliable Source ◽  
The World

The tourism industry certainly has been a formidable pillar as an unfailing and reliable source of revenue and capital for many nations. Many countries have been elevated from poor to appreciable economic statuses as a result of the invaluable contributions their tourism sectors have succeeded in adding to their overall economic growth. Tourism is a major engine of economic growth and an important source of foreign exchange earnings in India. Over the last decade, India has been the fastest growing tourism region in the world. This chapter primarily aims and seeks to identify and examine the paradigm shifts in the tourism industry over the seeming years and how the trends have behaved in India. It seeks to study the current trends in the tourism industry and evaluates the role of tourism in economic development. The future outlook is bright for the tourism sector, and the region is expected to maintain a high rate of growth well into the next century. The chapter contributes to an improved understanding of economic growth of a country because of tourism development.

scholarly journals Factors which strategically explain the competitiveness of a tourism destination: Evidence from Singapore and Sri Lanka

2017 ◽  
Vol 8 (1) ◽  
pp. 55
Author(s):  
M. Prasad F. Jayasuriya ◽  
Cheng Guoping
Keyword(s):  
Developing Countries ◽  
Sri Lanka ◽  
Practical Interest ◽  
Tourism Industry ◽  
Tourism Destination ◽  
Travel And Tourism ◽  
Destination Competitiveness ◽  
The World ◽  
Tourism Destinations ◽  
Structured Questionnaire

Globally tourism industry has experienced rapid growth in the last 25 years, a trend predicted to continue in future and as such, the field of tourism has emerged as an area of theoretical and practical interest. Although the competition among countries engaged in tourism has increased, the world travel and tourism competitive index (TTCI) reveals striking disparities among developed and developing countries as tourism destinations. This paper is an attempt to examine the elementary reasons for such disparity through identification of competitive factors which strategically explain the position and competitiveness of a tourism destination. For clarity and better understanding the study was conducted with evidence from Singapore and Sri Lanka. Data collection was carried out adopting a survey instrument with purposive sampling and structured questionnaire to examine fifteen factors illustrating tourism destination competitiveness based on responses received from the two countries - 70 from Singapore and 66 from Sri Lanka. The analyzed data were used in a model of strategic evaluation of tourism destination to diagnose the strengths, weaknesses as well as the competitive opportunities of the two countries through the review of 15 competitive factors. The results strategically explained the competitive positions of both tourism destinations, while findings on factors provided guidelines to achieve greater destination competitiveness. Further, the model of strategic evaluation first tested in Spain for tourism destination competitiveness, was extended for pertinence in other tourism destinations and situations.

scholarly journals ROMANIA VERSUS BULGARIA: A SHORT ANALYSIS OF THE COMPETITIVENESS OF SEASIDE TOURISM

2016 ◽  
Vol 4 ◽  
pp. 471-482
Author(s):  
Mihai Costea ◽  
Cristian Valentin Hapenciuc ◽  
Gabriela Arionesei
Keyword(s):  
Historical Perspective ◽  
Tourism Industry ◽  
Communist Regime ◽  
World Economic Forum ◽  
National Authority ◽  
Factors Affecting ◽  
Travel And Tourism ◽  
The World ◽  
World Economic ◽  
Tourism Activity

This research compares tourism competitiveness of two neighboring countries, Romania and Bulgaria, which have many similarities economically as well as from a geopolitical and historical perspective. Despite these similarities, immediately after the 1990s, which marked the fall of the communist regime, the tourism phenomenon in the two countries had divergent evolutions. As the tourism industry in Bulgaria, especially its seaside tourism, underwent unprecedented development, the tourism activity in Romania systematically lost its competitiveness. The factors affecting the appearance and increase of such a difference are of interest to the Romanian seaside tourism. To generate the answer to this problem, we perform a series of comparative analyses with data from the World Economic Forum, in terms of the Travel and Tourism Competitiveness Report (2011-2015), `the National Authority for Tourism of Romania, and the National Institute of Statistics from Romania and Bulgaria. We identified a series of constitutive elements relating to the success of the Bulgarian seaside tourism and a sequence of deficiencies in the strategic and organizational maneuvers of the tourism activity at the Romanian seaside.

Impact of Information and Communication Readiness on the Tourism Industry

2021 ◽  
pp. 186-201
Author(s):  
Woon Leong Lin ◽  
Bee Lian Song
Keyword(s):  
Fixed Effects ◽  
Panel Data Analysis ◽  
Tourism Industry ◽  
Policy Effects ◽  
Travel And Tourism ◽  
Economic Progress ◽  
The World ◽  
Information And Communication ◽  
World Economic ◽  
The Impact

This study examines the impact of ICT readiness on the tourism industry and how it leads to growing competitiveness by deploying three-panel data analysis techniques (pooled OLS, fixed effects, dynamic GMM) with 177 nations for the period 2011 to 2019. ICT readiness is gauged using the World Economic Forum's Travel and Tourism Competitiveness Index, whereas tourism's contribution towards economic progress is gauged by overall international traveler arrival. The observations indicate that ICT readiness causes a statistically significant effect on tourism's role in economic progress. Tourism policy effects and guidelines for future works are discussed as well.

scholarly journals The Survival of Travel and Tourism Industry amidst the Covid 19 Pandemic

2021 ◽  
Vol 16 (1) ◽  
Author(s):  
Sandhya H
Keyword(s):  
Hospitality Industry ◽  
Global Scale ◽  
Tourism Industry ◽  
Research Papers ◽  
Travel And Tourism ◽  
Literature Reviews ◽  
The World ◽  
The Future ◽  
Tourism Professionals ◽  
Travel Industry

The Covid 19 pandemic has impacted the world and almost brought the entire world to a complete standstill. Most of the industries have been affected adversely as countries across the world went on lockdowns and imposed restrictions on travel, trade, and businesses. The tourism, Aviation, and Hospitality industry are among the few that have been most affected due to the pandemic, as pleasure travel had almost ceased to zero and many countries worldwide had closed their borders restricting international tourists. In order to survive this, the travel industry players had to cut down their employees and their pay. Many tourism professionals have lost their jobs or have their jobs at stake. This paper focuses on analyzing the overall impacts of the pandemic on the travel and tourism industry of India. The study aims at understanding the challenges faced by the different players in the tourism industry to survive the pandemic. The study also sheds light on the opportunities that await in the future on a post-Covid scenario and some of the methods adopted by the industry players to manage the future demand in the most sustainable and safe manner. The paper is conceptual and purely based on literature reviews of various research papers focusing on the Covid pandemic on a global scale. 

scholarly journals Marketing, Start-Ups and Innovation: A Framework for Understanding the Possibilities for Harnessing Technological Innovations in Tourism (Based on the Example of the Georgian Tourism Sector and Russian Start-Ups)

2021 ◽  
Vol 40 (2) ◽  
pp. 93-113
Author(s):  
Dariusz Michał Trzmielak ◽  
Devi Shonia ◽  
Magdalena Skoneczna
Keyword(s):  
Development Strategy ◽  
Tourism Industry ◽  
Technological Innovations ◽  
Travel And Tourism ◽  
Tourism Sector ◽  
The World ◽  
It Innovation ◽  
Country Of Georgia ◽  
Travel Industry ◽  
Start Ups

Abstract The travel and tourism industry is one of the largest and fastest-growing sectors in the world. In the case of countries like Georgia, where tourism is a priority sector of the economy, innovation is crucial for a tourism-based development strategy — and this has become particularly important in the post-pandemic realities. This paper proposes a certain framework for understanding the possibilities for harnessing technological innovations in the travel industry (particularly apps and websites). It then considers the specific example of the country of Georgia, outlining the state’s measures meant to foster IT innovation in tourism and also certain moderate successes to date in this respect. Next, the paper looks to Russian tourist-sector start-ups as models for operation that be successfully harnessed in the Georgian tourism industry, examining several such Russian start-ups in closer detail.

Perceived Tourist Harassment in Tourist Destinations

2021 ◽  
pp. 299-313
Author(s):  
Shamila Rasanjani Wijesundara ◽  
Athula Gnanapala
Keyword(s):  
Developing Countries ◽  
Factor Analysis ◽  
Sri Lanka ◽  
Tourism Development ◽  
Tourism Industry ◽  
Primary Data ◽  
Fast Growing ◽  
Tourist Destinations ◽  
Coastal Belt ◽  
The World

Tourism is a fast-growing industry in the world. Many developing countries have recognized the economic contribution of the tourism industry towards to country; therefore, it has been included as an integral part of their development strategies. Sri Lanka continues to use tourism as one of the incomes earning strategy of its nation. At present, a huge tourism development is continued while accepting severe issues occurs itself like tourist harassment. The nature of the harassment is different from destination to destination, and this study mainly aims to identify the harassment in Sri Lanka. The study carried out in Southern Coastal Belt, considering foreign tourists as the sample to the study. A pretested questionnaire was distributed among 600 foreigners to collect primary data for the study, and 530 questionnaires were valid for the analysis. The collected data was analyzed through exploratory factor analysis, which revealed six major types of harassment in Sri Lanka as a result of tourist consumption process throughout the vacation.

scholarly journals HOW EFFICIENT ARE REAL ESTATE AND CONSTRUCTION COMPANIES IN IRAN'S CLOSE ECONOMY?

2012 ◽  
Vol 16 (4) ◽  
pp. 392-413 ◽  
Author(s):  
Wai Peng Wong ◽  
Hassan Fereidouni Gholipour ◽  
Ebrahim Bazrafshan
Keyword(s):  
Sensitivity Analysis ◽  
Real Estate ◽  
Real Estate Development ◽  
Institutional Voids ◽  
The Real ◽  
The Real Estate ◽  
Construction Companies ◽  
Current Information ◽  
The World ◽  
Cost Efficient

This paper empirically explores various efficiency aspects of real estate and construction companies in Iran in light of their remarkable growth in recent years. The technique used to measure the efficiency is DEA and the sample is taken from the construction and real estate companies in Iran. Results from our analysis reveal that most of the real estate and construction companies in Iran are generally technical, scale and mix efficient. However, they are less cost efficient due to increasing higher cost of production. The sensitivity analysis results also suggest that the real estate and construction companies are experiencing diseconomies of scale. As Iran is an underdeveloped market and is currently one of the most interesting frontier markets in the world, this research contributes substantially to investors and multinationals (who have growing desire to gain exposure in this market) by providing current information about the efficiencies of real estate and construction companies in Iran. In addition, this research also provides some institutional voids on how to penetrate market environment in Iran through real estate development.

scholarly journals The Travel and Tourism Industry

2021 ◽  
Vol 16 (1) ◽  
Author(s):  
Alisha George ◽  
Sonu Sunny ◽  
Anusha Kapoor ◽  
Japjot Kaur Saggu ◽  
Paridhi Puri ◽  
...  
Keyword(s):  
World Bank ◽  
World Trade ◽  
Tourism Industry ◽  
International Labour Organization ◽  
Travel And Tourism ◽  
The World Bank ◽  
Tourism Sector ◽  
The World ◽  
Using Data ◽  
Quantitative And Qualitative Methods

First to be hit by the pandemic and last to recover, the travel and tourism industry is considered to be one of the most severely affected sectors. The paper tries to highlight the vulnerabilities of GDP, employment and related activities of the tourism sector by looking at it through a macro perspective using data from the World Bank, International Labour Organization, the United Nations World Trade Organization and, the World Travel and Tourism Council, in addition, substantiating the results through micro evidences in the form of case studies. The paper, using quantitative and qualitative methods, shows that GDP, employment and related activities are susceptible to the pandemic- COVID-19 and suggests how to pandemic-proof the sector that not only contributes significantly to GDP but weaves the thread of interconnectedness across the world.

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