The Impact of Tourism on Attractions and the Environment
Tourism Attractions and Their Management
Ownership and Funding
Attractions are owned and managed by various organizations, trusts, and individuals across the public, private, and non-profit sectors. Large commercial ventures dominate the sector. High levels of state involvement in attraction funding are evident across Europe and in other parts of the world like Canada, Singapore, and Malaysia. However, there is little public sector intervention in attractions in the USA.
Visitor Perception
The perception
Read MoreMacroeconomic Theories: Monetarism, New Classical Economics, and More
Monetarism
Monetarists believe that the amount of money in an economy is the key factor influencing economic activity. Therefore, they advocate for monetary policy as the primary tool for controlling the economy. A prominent monetarist was Milton Friedman, who developed his ideas within the “Chicago School” of economics. Monetarists believe in the long-term benefits of a competitive economic system and limited government intervention. They argue that state control is necessary to ensure the stability
Read MoreInternational Business Relations: Understanding the Global Environment
ISIBCO1
INTRODUCTION TO INTERNATIONAL BUSINESS RELATIONS
(Prelim)
Part I: Lecture
International Business in the Twenty-First Century: Awareness – understanding the environment on two levels:
- Specific
- Broad
Environment:
- Setting, situation, atmosphere
- Surroundings, condition, location
Specific Environment:
- Customer/supplier
- Investor requirements
- Workplace issues
- Individual financial/operational requirements
Broader Environment:
- Economy
- Political/technological/world
Major Factors Influencing Business Behavior
- Politics
- Economics
- Technology
1.
Read MoreUnderstanding Exchange Rates: A Comprehensive Guide
Exchange Rate
The exchange rate is the price of one currency expressed in another currency. Exchange rates are crucial in international trade, enabling comparisons of goods and services prices across different countries.
Changes in Exchange Rates
Fluctuations in exchange rates are categorized as depreciations or appreciations.
- Appreciation: An appreciation of a country’s currency makes its goods more expensive for foreigners, all else being equal.
- Depreciation: A depreciation of a country’s currency
Exchange Rates and Interest Rate Parity: A Comprehensive Guide
Exchange Rate: The exchange rate is the price of one currency expressed in another currency. Exchange rates play a central role in international trade because they allow us to compare the prices of goods and services produced in different countries.
Changes in exchange rates are described as depreciations or appreciations.
All else equal, an appreciation of a country’s currency makes its goods more expensive for foreigners.
Today’s exchange rate between two currencies is affected by expectations
Read MoreMarket Segmentation, Positioning, and Research
Application: Segmentation and Market Positioning
Defining the Most Appropriate Market Strategy
Once the segments are analyzed and identified, the next step is to define the most appropriate market strategy. The company has the following alternatives:
- Focus Strategy: Acting in a single segment with one product, used by highly specialized small businesses.
- Strategic Market Expansion: Acting in several segments with one product, looking for growth through finding new markets for the product.
- Strategic Product