Diversity, Tourism, and Economic Development: A Global Perspective

2020 ◽  
Vol 25 (1) ◽  
pp. 21-41 ◽  
Author(s):  
Saqib Amin
Keyword(s):  
Economic Development ◽  
Equal Opportunity ◽  
Negative Impact ◽  
Religious Diversity ◽  
Global Perspective ◽  
International Tourism ◽  
Negative Consequences ◽  
Tourism Sector ◽  
Significant Negative Impact ◽  
Globalized World

International tourism enhances understanding and interaction between nations and people, or can generate conflicts due to cultural misunderstandings. In this globalized world, diversity on one side plays a vital and essential role in international tourism and economic development but on the other side ethnic, cultural, and religious polarization resulting in conflicts, difficulties that may frighten away tourists and lead to vulnerability of the tourism sector in very heterogeneous countries. This study investigates whether existing ethnic and religious diversity affects the international tourism and economic development. By using the dataset of 187 countries and panel data technique, this study indicates that diversity, either ethnic or religious or both, has a significant negative impact on international tourism and economic development. This study suggests that ethnic and religious diversity is an inherent part of most societies in a globalized world so in order to minimize its negative consequences there is emergent need to provide equal opportunity to all groups and to encourage cohesive culture. A cohesive and peaceful society can enhance tourism.

scholarly journals The International Tourism Performance Amidst Several Intervention Events: More than 20 Years of Multi Input Intervention Analysis in Bali, Jakarta, and Kepulauan Riau Provinces

2020 ◽  
Vol 66 (2) ◽  
pp. 172
Author(s):  
Taly Purwa ◽  
Eviyana Atmanegara
Keyword(s):  
Economic Development ◽  
Natural Disaster ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
International Tourism ◽  
Intervention Analysis ◽  
Social Growth ◽  
Intervention Models ◽  
Tourism Sector ◽  
Long Time

As one of the priority sectors in economic development of Indonesia, tourism is expected to be the main key in accelerating economic and social growth, hence reducing poverty. The tourism performance, especially international tourism market, is highly prone to intervention events that can reduce the number of inbound tourists and produce a negative impact on economic development of the destination country. Therefore, anticipating and mitigating various intervention events is necessary to maintain the performance of the tourism sector in Indonesia. This study investigates the magnitude and patterns of impact of several intervention events on the number of international visitor arrivals via the three main ports of entry of Indonesia, i.e. Soekarno-Hatta Airport, Ngurah Rai Airport, and Batam Port. The multi input intervention models were constructed by covering intervention events, i.e. terrorism, disease pandemic, global financial crisis, natural disaster, and government policy, occurring in a relatively long time span, more than two decades, from January 1999 to August 2020. The results show that an intervention event does not always have a significant impact on the number of international visitor arrivals at the three main ports of entry. Generally, all intervention events can lead to a decrease in the number of international visitor arrivals but with different magnitude and pattern, with the biggest and longest impact is caused by COVID-19 pandemic. The direct or non-delayed pattern of impact only appears for terrorism and natural disaster that affect the number of international visitor arrivals via Ngurah Rai Airport.

scholarly journals Estimating the economic impact of a political conflict on tourism: The case of the Catalan separatist challenge

2018 ◽  
Vol 25 (1) ◽  
pp. 34-50 ◽  
Author(s):  
Marcos Álvarez-Díaz ◽  
Manuel González-Gómez ◽  
María Soledad Otero-Giráldez
Keyword(s):  
Economic Impact ◽  
Negative Impact ◽  
Moving Average ◽  
Political Conflict ◽  
International Tourism ◽  
Autoregressive Moving Average ◽  
Autoregressive Moving Average Model ◽  
Tourism Sector ◽  
Mediterranean Regions ◽  
Moving Average Model

As an industry, tourism tends to be extremely responsive and vulnerable to political instabilities. Recently, a political conflict occurred in Spain, a leader in international tourism. In October 2017, the regional parliament of Catalonia asserted its independence from Spain, engendering a negative impact on the tourism sector of Catalonia. The main goal of our study is to assess the economic impact of the Catalan separatist challenge on the region’s tourism sector during the last quarter of 2017. To this end, we conducted a counterfactual analysis, based on forecasts generated by a seasonal autoregressive moving average model and an artificial neural network. The forecasts allowed us to calculate the projected number of international and domestic tourist visitors that would have travelled to Catalonia, had the separatist challenge not occurred. According to our results, the Catalan tourist sector effectively forfeited close to €200 million in revenue from the international tourism market, and around €27 million in revenue from the domestic market. These amounts differ from the economic gains attained by the other Spanish Mediterranean regions that compete with Catalonia to attract tourists.

scholarly journals FOREIGN CURRENCY REFINANCING AS A NEW ELEMENT OF STIMULATING THE ECONOMIC DEVELOPMENT OF TRANSITION ECONOMIES

2020 ◽  
Vol 6 (5) ◽  
pp. 171-177
Author(s):  
Andrii Hrona
Keyword(s):  
Economic Development ◽  
Correlation Coefficient ◽  
Transition Economies ◽  
Transition Economy ◽  
Foreign Currency ◽  
Negative Impact ◽  
Economic Systems ◽  
Significant Negative Impact ◽  
Business Entities ◽  
Negative Impacts

Transition economies require finding and implementing new elements to stimulate their development, especially with regard to the economic systems of the former Soviet countries (Ukraine and Belarus). Under these conditions, it is important to use the experience of other transition economies, which includes the use of foreign currency refinancing. Purpose. Substantiation of the introduction of foreign currency refinancing as a new element of stimulating the economic development of transition economies through assessment of the development of the mentioned economies in Belarus and Ukraine. Design/methodology/approach. The study employed a quantitative analysis of statistical data to assess the development of transit economies in Ukraine and Belarus over the 21-year period. Correlation and regression analysis was also involved to identify key areas of impact of foreign currency refinancing on transitive economic systems. In this case, it was proposed to use five regression functions (linear; exponential; polynomial; logarithmic; power). It was separately proposed to determine the correlation ratio between the key areas of impact of foreign currency refinancing on the transition economy and the volume of foreign exchange refinancing using three methods: the determination factor; checking the correlation coefficient on the Chaddock’s scale; comparison of the correlation coefficient with the critical correlation coefficient. Findings. The article analyses the development of the transition economies of Ukraine and Belarus over the 21-year period (from 1999 to 2019) and emphasises that since 2008 the development of economic systems of the countries selected for the study has almost stopped despite activities (tools) used to stimulate the growth of national economies. The authors prove the importance of finding and using new elements to stimulate the economic development of the economies of Belarus and Ukraine. The use of foreign currency refinancing as a new element of stimulating the development of economic systems of Ukraine and Belarus is justified. The mechanism, beneficial and negative impacts of the use of foreign currency refinancing for transition economies selected for the study are identified. The key areas of influence of foreign currency refinancing on the economic systems of Belarus and Ukraine are identified, where the size of lending; revenues of budgets of different levels, business entities, households are the main ones. At the same time, the authors managed to refute the possibility of a significant negative impact of currency refinancing on the growth of the monetary base, inflation and devaluation processes in the countries selected for the study. Practical implications: the conducted research is important for ensuring the long-term development of transition economies, primarily in Ukraine and Belarus. Originality/value: the study will allow to identify key areas of impact of foreign currency refinancing on transitive economic systems, and revealing its beneficial and negative impacts for economies of this type on the example of Ukraine and Belarus.

scholarly journals DISCUSSION QUESTIONS OF ESSENCE OFTHE PUBLIC DEBT RISKS AND PROBLEMS OF THEIR EVALUATION IN UKRAINE

2017 ◽  
pp. 121-131
Author(s):  
Nadiia LUBKEY
Keyword(s):  
Risk Management ◽  
Economic Development ◽  
Public Debt ◽  
Negative Impact ◽  
Debt Management ◽  
The Public ◽  
Socio Economic Development ◽  
Significant Negative Impact ◽  
Country Analysis ◽  
Methodological Approaches

Introduction. The significant and constantly increasing volume of public debt of Ukraine, its irrational structure, inefficient use of borrowed government loans lead to growth of debt risks and decrease of the state debt sustainability. For a successful debt management we need to apply effective risk management ofpublic debt. Purpose. The aim of this research is to clarify the essence of the public debt risk; to analyze the methodological approaches to their evaluation; to determine the main directions for the risk management of public debt, as well as the ways to improve the current methodology forassessing public debt risk in Ukraine. Results. Based on studies of different approaches to interpreting the essence ofthe public debt risk we have established that risk of public debt caused by the presence ofthe probability the formation of such debt parameters that may have significant negative impact on the socio-economic development ofthe country. Analysis ofthe main approaches to assessing of public debt risks revealed a number of shortcomings in current Ukrainian methodology. The main directions ofpublic debt risk management are: managing the risks associated with large amounts of public debt; debt management risks caused by irrational structure of public debt; managing the risks associated with the rapid growth of the public debt; risk management related to the inefficient use ofgovernment loans. Conclusion. The current methodology for assessing the risks associated with debt management used in Ukraine needs to be improved. In our opinion such methodologies must necessarily contain the indicators of effectiveness of government borrowing.

scholarly journals FORECASTING OF THE TOURISM INDUSTRY DEVELOPMENT AND THE COVID-19 PANDEMIC CONSEQUENCES: GEOGRAPHICAL AND INTERNATIONAL ORIENTATION

2021 ◽  
Vol 2 (2) ◽  
pp. 54-61
Author(s):  
Olesia Iastremska ◽  
Oleksandra Kononova
Keyword(s):  
Global Market ◽  
Tourism Industry ◽  
International Travel ◽  
International Tourism ◽  
The European Union ◽  
Negative Consequences ◽  
Intersectoral Cooperation ◽  
Tourism Sector ◽  
The World ◽  
Domestic Tourism

Restrictions on transportation between countries because of lockdown caused by the prevalence of morbidity COVID-19 have slowed down economic activity worldwide. Therefore, in this paper, we examine and estimate the short-term economic impact of the COVID-19 pandemic on the global market situation in terms of the international tourism industry. The purpose of the study is to analyze the current economic situation of the world tourism sector, which suffered the most because of the COVID-19 pandemic, determine the main tourist flows (inbound and outbound tourism), and identify main tourism trends that characterize travel and tourism in 2020, to form practical directions for improving the tourism industry, domestic tourism in particular. This article analyzes the dynamics of international touristic destinations for the period 2019-2020, with regard to the pre-pandemic period and during the COVID-19 lockdown. Also, the dynamics of destinations of international tourists by different regions and the world in general for different types of travel limitations in 2020 are analyzed. It is detected an enhancement in percentage change of tourism destinations from July 2020 because the world began to open up to international tourism, mainly in the European Union. In this article, it is considered that the implementation of travel restrictions is clearly affected international travel. The dynamic of the international tourists’ destinations with a complete/partial closure of borders and other restrictions by region in 2020 during the COVID-19 pandemic are analyzed. The major trends in the tourism sector during the coronavirus crisis are highlighted. The main practical directions for the resuscitation of the tourism industry have been formed, which will have to reduce the negative consequences of the COVID-19 pandemic and created a basis for increasing the competitiveness of domestic tourism. It is determined that support for the development of the tourism industry at the central and local levels should be based on the expected preferences of tourists and the risk of using illegal resorts with the possibility of infection. The article examines the main problems of the tourism sphere of Ukraine, which arise as a result of the introduction of measures to overcome the coronavirus pandemic in the world and in Ukraine in particular. Using the experience of other countries and international recommendations, measures for intersectoral cooperation in the context of increased epidemic risks are proposed. The article reveals the peculiarities of the development of the tourist sphere of Ukraine in the conditions of increased epidemic risks. Modern tendencies of functioning of the tourist sphere of the country are investigated. The tourism sector is suffering on a global scale due to the implementation of measures to overcome the coronavirus pandemic and the uncertainty of further development of the situation. According to various scenarios, in 2020 the volume of international tourist arrivals is expected to fall by 58-78% compared to last year. According to experts, the recovery of demand to the level of 2019 will take at least two years. According to experts, the sphere of tourist services of the coronavirus crisis period will be characterized by giving consumers priority in terms of choice of shorter rest periods, a predominance of individual movement and individual accommodation, choice of health, sea, and rural tourism.

RESPONSE OF THE RUSSIAN LABOR MARKET TO THE "FIRST" AND "SECOND" WAVES OF THE COVID-19 PANDEMIC

2021 ◽  
pp. 61-73
Author(s):  
Marina N. Khramova ◽  
◽  
Sergey V. Ryazantsev ◽  
Keyword(s):  
National Economy ◽  
Negative Impact ◽  
Russian Regions ◽  
Negative Consequences ◽  
State Support ◽  
Significant Negative Impact ◽  
The Russian Federation ◽  
Restrictive Measures ◽  
The Impact ◽  
Unstable Dynamics

The paper provides some results of a study of changes that have occurred in the labor markets of Russian regions during the "first" and "second" waves of the COVID-19 pandemic. In particular, it is shown that in 2020 — 2021 there were transformations in the structure of employment of the population of the Russian regions, for example, the number of vacancies in the industries that were most severely affected by the introduction of restrictive measures in the economy decreased, the unemployment rate increased significantly. The negative consequences of the pandemic in one way or another manifested themselves in all Russian regions. However, in a number of regions, which even before the pandemic showed an unstable dynamics of socio-economic development, the impact of the COVID-19 pandemic had a more significant negative impact. This indicates that during a pandemic, divergence processes have intensified in the national economy. At the same time, during the pandemic, some new forms of employment were developed, associated with the need to switch to a remote mode of work. We believe that these new forms of employment will remain relevant both in Russian and international practice even after the end of the pandemic. The paper also analyzes the main measures of state support for the population, small and medium-sized businesses, and migrants. It is shown that, in general, the measures of state support during the pandemic were timely and made it possible to avoid the collapse of the national economy. It is concluded that support measures should be more regionally differentiated in order to take into account the specifics of the economy of the regions of the Russian Federation.

Does cultural value affect board efficacy? Insights on international corporate governance

2017 ◽  
Vol 59 (6) ◽  
pp. 1257-1268 ◽  
Author(s):  
Mohammad Nurunnabi
Keyword(s):  
Corporate Governance ◽  
Negative Impact ◽  
Positive Impact ◽  
Religious Diversity ◽  
Cultural Value ◽  
Corporate Ethics ◽  
Content Type ◽  
The World ◽  
Governance Practices ◽  
Significant Negative Impact

Purpose This study aims to investigate how culture can either reinforce or attenuate the board efficacy (a key element of corporate governance). Design/methodology/approach The study uses the data from the World Economic Forum (2006-2014) of 69 countries. The data were restricted to 69 countries because Hofstede et al. (2010) provided cultural value data from 111 countries. However, the data from 42 countries were incomplete for Hofstede et al.’s four dimensions. Findings The study is the first to show that more religious diversity has a significant negative impact on stronger board efficacy in evaluating corporate governance practices. The results also indicate that more uncertainty avoidance in a country has a significant negative impact and corporate ethics and auditing standards have a positive impact on board efficacy. Originality/value The study extends Hofstede et al.’s (2010) cultural value by incorporating religious diversity and corporate ethics as cultural variables in explaining board efficacy in corporate governance literature. The Organisation for Economic Co-operation and Development, the World Bank and the International Monetary Fund should focus on cultural factors while developing a single set of Corporate Governance Code worldwide.

scholarly journals «COVID-19»-Ի ԲԱՑԱՍԱԿԱՆ ԱԶԴԵՑՈՒԹՅՈՒՆԸ ՀՀ ԶԲՈՍԱՇՐՋՈՒԹՅԱՆ ՈԼՈՐՏԻ ՎՐԱ/THE NEGATIVE IMPACT OF ''COVID-19'' ON TOURISM SPHERE OF THE RA/ОТРИЦАТЕЛЬНОЕ ВЛИЯНИЕ ''COVID-19'' НА СФЕРУ ТУРИЗМА В РА

2020 ◽  
pp. 153-171
Author(s):  
Gayane Tovmasyan
Keyword(s):  
Negative Impact ◽  
Balance Of Payments ◽  
Negative Consequences ◽  
Global Problem ◽  
Tourism Sector

The number of tourists in Armenia has been growing in recent years. Therefore, the article presents the main statistics of the tourism sector: the number of incoming tourists and the quarterly balance of payments indicators, the number of domestic tourists, the main marketing steps implemented in Armenia. The analysis shows that tourism in Armenia would grow in the upcoming years if not the spread of COVID-19, which is a global problem, and Armenia cannot avoid it. The article discusses the possible negative impact of COVID-19 on tourism in Armenia and other countries, discusses measures taken by a number of countries and by Armenia to mitigate the possible negative consequences of COVID-19, and some preliminary predictions are made.

scholarly journals The Effect of Beijing-Shanghai High-Speed Railway on the Economic Development of Prefecture-Level Cities Along the Line Based on DID Model

2021 ◽  
Vol 235 ◽  
pp. 01016
Author(s):  
Yuzhou Ma
Keyword(s):  
Economic Development ◽  
High Speed ◽  
Negative Impact ◽  
High Speed Rail ◽  
High Speed Railway ◽  
Agglomeration Effect ◽  
Significant Negative Impact ◽  
Empirical Perspective ◽  
The Impact ◽  
The Empirical Analysis

High-speed railway has an essential impact on the economic and social development of the regions along the line. Based on the Beijing-Shanghai high-speed railway, this paper constructs the DID model and analyzes the impact of Beijing-Shanghai high-speed railway on the economic development of prefecture-level cities along the route from the empirical perspective. The empirical analysis results show that the BeijingShanghai high-speed railway has a significant negative impact on the per capita GDP of prefecture-level cities along the line in the short term, mainly because the agglomeration effect is greater than the diffusion effect. Therefore, small cities should actively think about how to deal with the agglomeration effect caused by the construction of high-speed rail.

scholarly journals Sustainable development of single-industry towns in Russia

2021 ◽  
Vol 295 ◽  
pp. 01003
Author(s):  
Alexander Volkov ◽  
Elena Pavlova ◽  
Maria Valdaitceva ◽  
Valery Abramov
Keyword(s):  
Economic Development ◽  
Negative Impact ◽  
Negative Consequences ◽  
Technological Structure ◽  
Socio Economic Development ◽  
Single Industry ◽  
Single Production ◽  
The Common ◽  
Local Budget ◽  
Common Criterion

The modern practice of defining administrative-industrial territories has formed the concept of «single-industry towns». Currently, there are many definitions of this phenomenon; however, the common criterion for classifying a town as a single-industry town is that its socio-economic development depends on the activities of one city-forming enterprise or several enterprises in the technological structure that operate within a single production and technological process. Such dependence for settlements with narrow specialization has a negative impact during the crisis situation at the enterprise or its liquidation. The negative consequences include a sharp increase in unemployment (including hidden one), aggravation of social problems, acceleration of population outflow to more developed cities/regions of the region/country, sharply reduced revenues to the local budget, which leads to the impossibility of independent development of the settlement. The problems of single-industry towns in the periods of economic crises are pronounced. Results. This paper has defined the criteria of single-industry towns, approaches to the identification of single-industry towns. In addition, the models and factors contributing to the sustainable socio-economic development of single-industry towns and domestic experience in the modernization of single-industry town settlements are identified.

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