Joint Modeling of Access Mode and Parking Choice of Air Travelers Using Revealed Preference Data

Airport ground access mode choice is distinct from everyday mode choice decisions, necessitating context-specific choice model estimation. Understanding airport ground access mode choice decisions is not only important for developing infrastructure planning strategies, but also for assessing the impacts of emerging modes on airport revenues, particularly from parking. However, parking choice is an often-overlooked dimension in airport ground access choice modeling. This paper addresses this gap through the development of a joint model of airport access mode and parking option choice using a passenger survey conducted at Dallas-Fort Worth (DFW) International Airport in 2015. Compared with a traditional conditional logit model that does not consider parking options available at DFW airport, the joint model of mode and parking decisions was found to generate more realistic values of travel time and was shown to have better predictive performance, both of which are critical for obtaining better airport parking revenue estimates and identifying traveler cohorts who may respond more strongly to potential policies targeting curb congestion and parking demand.

The impact of the COVID-19 pandemic on revenues of visitor attractions: An exploratory and preliminary study in China

The COVID-19 pandemic has made a detrimental impact on various tourism subsectors. The financial consequences of this impact should be carefully evaluated to set benchmarks for industry recovery. This study assessed the financial impact of the pandemic on the tourism subsector of visitor attractions in China; 4222 A-grade visitor attractions accounting for over one-third of the national market were surveyed. Data triangulation was subsequently applied to undertake a comprehensive assessment of potential revenue loss. Triangulation was based upon the (1) lost revenue estimates made by tourist attractions’ administrations, (2) reverse estimation of past macroeconomic data, and (3) expert opinion estimates. The assessment results demonstrated that A-grade visitor attractions in China may have lost up to 140 billion RMB (circa US$21 billion) due to COVID-19, with up to 65% of all losses incurred in the first quarter of 2020. The scale of revenue loss varied significantly depending on visitor attraction’s grade, type, and location. Potential strategies for industry recovery are discussed.

Accounting for Environmental Sustainability of the Tourism Industry: The Case of Perhentian Island

The study is undertaken to account and measure externalities that have crossed beyond its environmental limit due totourism activities. These measurements later integrated into thetourism revenue estimates.Hence, the study’s objectives include estimating tourism revenue, quantifyingand monetizing environmental degradations and presenting the Environmentally Sustainable Tourism Revenue (ESTR) statement.Visitors spending served as proxies to tourism revenue estimates. Data were collected from 923 tourists of Perhentian Island and analysed using two-steps decision tree analysis through Chi-Square Automatic Interaction Detection (CHAID) procedure in SPSS 22.0 software. The costs of the environment were measured loosely based on the concept of ecological footprint, tourism carrying capacity, and economic valuation techniques.The findings suggest that the cost of the environment which comprised of overshoot of environmental resources, overcapacity of environmental services and overuse of environmental asset were RM5,446,563.00, RM506,576.00 and RM1,612,160.94 – RM3,626,722, respectively.Perhentian Islands’ total cost of degradation was recorded at RM9,579,861.00 (upper limit) with net tourism revenue of RM124,724,324.00. The implication of the study suggests that Perhentian Islands tourism externalities has exceeded between5.5% to 7.1% of its environmental limit and therefore, tourism activities on the islands incline towards unsustainability. Several steps need to be taken to rectifythe environmental issues identified in the study to ensure the sustainability of the islands.

Introducing a 0.05% Financial Transactions Tax as an Instrument of Global Justice and Market Efficiency

A financial transactions tax (FTT) is a tax on wholesale capital market transactions, which civil society has long advocated for on grounds of social justice. This so-called “Robin Hood Tax” would take from the rich and give to the poor. Revenue estimates for a global FTT of 0.05 percent are around US$500 billion per annum. One-quarter of this revenue stream can achieve the first six Millennium Development Goals relating to poverty, health, and education. Even if the developed countries retain all of the revenue raised, the impost would see financial services institutions making a fairer contribution to the societies in which they operate. Thus, as an instrument of justice, the potential of an FTT is great—but, most of all, such a tax will enhance the operations of contemporary financial markets substantially. This paper explores the potential of such a tax, the arguments for and against it, and its feasibility.

Design and Simulation of Computer Business Model for Primary Processing of Hardwood Material

Computer business model of hardwood production gives the user an opportunity to examine different ways and provide the capability of executing scenarios using alternative activities and process flow paths. This paper illustrates the design of business model based on which the simulation will be built. It will be able to simulate the effect of variables in each process and provide the output in terms of cost, quality and quantity of timber products produced at the end of primary hardwood processing. The simulation will act as a powerful decision making tool and be user friendly. It will be built with the combination of Visual Basic.NET and Microsoft Excel. It will provide cost and revenue estimates, identifies process issues and will have the capability to rapidly react to changing markets. The simulation will also be able to study the viability of capturing more product value and reducing production cost.