Travel Reference
In-Depth Information
E
KEY CONCEPTS
E
balance of payments
demand
direct impacts
economic impact
employment multiplier
exports
imports
income elasticity
income multiplier
indirect impacts
in
ationary pressures
leakage
multiplier effects
optimization
price elasticity
taxes
tourism satellite account
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INTERNET EXERCISES
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The Internet sites mentioned in this chapter plus some
selected additional sites are listed for your convenience on
the companion Web site for this topic,
www.wiley.com/college/goeldner
.
4.
What are the regional statistics for the region where you
live?
5.
What are the employment projections?
ACTIVITY 1
Site Name: World Travel and Tourism Council
URL:
www.wttc.org
Background Information
ACTIVITY 2
Site Name: Asia-Paci
c Economic Cooperation (APEC)
URL:
www.apec.org
Background Information
: The World Travel and Tourism
Council (WTTC) is the global business leaders forum for
travel and tourism. Its central goal is to work with gov-
ernments to realize the full economic impact of the world
'
s
largest generator of wealth and jobs
: APEC is the forum for facilitating
economic growth, cooperation, trade, and investment in
the Asia-Paci
c region.
Exercises
1.
—
travel and tourism.
How many members does APEC have?
Exercises
1.
2.
What percent of world population, world GDP, and
world trade do APEC member economies account for?
Review the economic research for a particular region
selected by either you or your instructor. What are the
economic forecasts for that region?
3.
Under member economies, what key economic indica-
tors are listed?
2.
What are the overall tourism forecasts worldwide?
3.
What do the statistical data reveal about the United States?
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QUESTIONS FOR REVIEW AND DISCUSSION
E
1.
What is meant by optimization?
6.
Explain how international tourism could assist in
reducing the current sizable U.S. trade de
cit. How
could it increase the de
cit?
2.
Discuss how an airline executive might use tourism
economics relating to passenger load-factors, ticket
prices, discounts, frequent-
yer programs, joint fares,
and
flight frequencies.
7.
Give several reasons why a hotel
'
s purchasing director
should be familiar with the income multiplier
phenomenon.
3.
Selecting one form of public transportation, enumerate
the economic constraints that affect this business.
8.
Trace how tourist expenditures in a community provide
financial support to the public library.
4.
A full-service restaurant is considering having an
elaborate buffet dinner three nights a week. What
constraints are likely to bear on this consideration?
9.
Enumerate various methods by which a tourist-
dependent community can at least partially overcome
seasonality of tourism demand.
5.
De
ne tourism exports and imports in terms of
national economies.
10.
Why is a tourism satellite account considered to be the
best way to measure tourism
'
s impact on the economy?
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