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Artykuły w czasopismach na temat "Thai tourism industry"

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Kaewkitipong, Laddawan. "Disintermediation in the tourism industry: an investigation of Thai tourism SMEs". International Journal of Electronic Business 9, nr 5/6 (2011): 516. http://dx.doi.org/10.1504/ijeb.2011.045290.

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Sakhonkaruhatdej, Khorntawatt, i Panitnan Sujintavong. "The Development of Service Quality and the Business Competitiveness of Wellness Spa in Thailand". Restaurant Business 118, nr 10 (21.10.2019): 484–94. http://dx.doi.org/10.26643/rb.v118i10.9458.

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This article studied wellness spa business in Thailand which can be categorized under tourism industry considered to be the main income of Thailand and the drive of the country’s economy. Thai wellness spas have been popular among Thai and foreign tourists. It can be seen that the standard of Thai wellness spas rank high in Asia. The business attracts a great amount of investment and spending in the service industry.
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Cheunkamon, Ekkapong, Sajjakaj Jomnonkwao i Vatanavongs Ratanavaraha. "Determinant Factors Influencing Thai Tourists’ Intentions to Use Social Media for Travel Planning". Sustainability 12, nr 18 (4.09.2020): 7252. http://dx.doi.org/10.3390/su12187252.

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Currently, information technology plays an important role in the tourism industry. Tourists like to use social media more widely for their travel planning, which affects the high competition between entrepreneurs while facing the challenge of improving the quality of data services provided through social media. This study developed a model of the relationships between structure factors that affect intentions to use social media for travel planning. The said model integrates the technology acceptance model (TAM) theory, the theory of planned behavior (TPB), and trust and satisfaction factors. In reference to a survey of 1333 samples from domestic tourists who used social media through their smartphone, it was found that satisfaction, attitudes, subjective norms, and perception can be used to control behavior, with a positively direct effect on intentions of use. In addition, we examined the indirect effect on intentions of use. Perceived ease of use, perceived usefulness, and subjective norms had a positively significant indirect effect on intentions of use. These research results allow tourism entrepreneurs to precisely understand the stimulating factors of tourists’ intentions to use social media for travel-planning decisions, which will help lead to the development of tourism-marketing strategies and the support of sustainable competition.
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Anuwichanont, Jirawat, Panisa Mechinda, Sirivan Serirat, Aurathai Lertwannawit i Nongluck Popaijit. "Environmental Sustainability In The Thai Hotel Industry". International Business & Economics Research Journal (IBER) 10, nr 11 (27.10.2011): 91. http://dx.doi.org/10.19030/iber.v10i11.6409.

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Nowadays, the growing concern of environmental sustainability does not only influence consumers demand but also how companies run their own business. Consumers are more conscious about the environment and demanding environmental friendly products and services. Consequently, the tourism industry currently faces increasing demands from consumers to achieve levels of environmental responsiveness. Thus, companies strive to implement environmentally friendly and socially responsible practices to gain competitive advantage, while still maintaining commercial success. Moreover, empirical evidence indicated that companies increased environmental support results in the development of customer trust and commitment as well as higher profitability. Thus, this study attempts to investigate the antecedents of loyalty in the hotel industry by examining the impacts of attitude toward the hotels environmental concern, subjective norms, perceived value and destination competitiveness on customers future intentions. Also, the comparative examination of these relationships between high and low environmental concern groups was included. Results revealed that perceived value is, followed by destination competiveness, the most powerful predictor of future intentions in both high and low environmental concern groups. In addition, attitude towards the hotels environmental concern significantly influenced future intentions solely in high environmental concern group. Contrary to our expectation, subjective norms exerted no significant effect on future intentions in both groups.
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Beirman, David. "Thailand's Approach to Destination Resilience: An Historical Perspective of Tourism Resilience From 2002 to 2018". Tourism Review International 22, nr 3 (14.12.2018): 277–92. http://dx.doi.org/10.3727/154427218x15369305779083.

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Thailand's inbound tourism industry has grown significantly during the early part of the 21st century. By the end of 2017, Thailand attracted the highest level of international tourist visitation of the 10-nation Association of South East Nations (ASEAN) with 35.38 million international visitors. By 2017, it was the ninth most visited country in the world and ranked second only to China as the most visited national destination in Asia. A key characteristic of Thailand's government destination management and marketing organization [Tourism Authority of Thailand (TAT)] and the private sector of Thailand's tourism industry has been a remarkable capacity for destination resilience. This article focuses on the resilience of Thailand as a destination between 2002 and 2018 through the theoretical prism of organizational resilience and the destination sustainability framework. During this period, Thailand's tourism industry overcame a range of potentially damaging crises and reputational challenges. This article seeks to explain the TAT's commitment to embedding resilience into its strategic planning. TAT's extensive implementation of effective risk and crisis management best practices has enabled Thailand's tourism market to recover rapidly from a range of challenges. TAT's commitment to resilience is enhanced by its extensive cooperation with both its private sector stakeholders and the Pacific Asia Travel Association (PATA), which is headquartered in Bangkok. The Thai tourism industry's commitment to risk and crisis management reflects the importance of tourism to Thailand's national reputation, image, and economy. TAT's close relationship with PATA and ASEAN Tourism, two transnational tourism associations with a strong commitment to destination resilience, has helped to benchmark Thailand's qualitative approach to tourism resilience. TAT demonstrates a clear appreciation that rapid recovery from crisis events and effective contingency management practice require a high level of collaboration with key stakeholders. Numerous private sector stakeholders with a vested interest in the success of Thai tourism represent all sectors of the tourism industry. They have readily contributed their resources and support to Thailand's marketing campaigns.
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Zhu, Bo-Wei, Zheng Huang i Lei Xiong. "Application of the Kano Model and DEMATEL Technique to Explore Sustainable Promotion Strategies for Thai-Chinese Temples as Tourist Attractions". Religions 11, nr 4 (17.04.2020): 199. http://dx.doi.org/10.3390/rel11040199.

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With the development of the modern social economy, temple tourism has become a lucrative industry. Because of their distinct architecture, rituals, and history, temples have become an important part of the sustainable development of temple economies. Thailand, a tourism-rich country in Southeast Asia, has many Chinese temples, most of which have developed into well-known tourist attractions. However, little research has explored attraction factor categories of Thai-Chinese temples as cultural tourist attractions, and also the relationships among these factor categories. This knowledge is important for assessing and developing improvement strategies of Thai-Chinese temples for achieving a sustainable temple economy. Thus, this study aims to identify appropriate ways to identify the constituent attraction factor categories of Thai-Chinese temples as cultural tourist attractions and how they are prioritized, considering the complex interaction relationships among them. The research findings show that 12 main factor categories under the three dimensions, three attributive classifications with different priorities to which the 12 categories belong, and the complex interaction relationships among factor categories are identified. Combining the priorities on attributive classifications and the priorities on interaction relationships, the sustainable improvement strategies of Thai-Chinese temples are established. This paper extends previous research on Chinese temples, offers insights into the theoretical investigation of Thai-Chinese temples as tourist attractions, and provides decision makers with an integrated and practical way to establish priorities of multiple attraction factor categories, in order to make sustainable improvement strategies of Thai-Chinese temples under the consideration of rational allocation of resources.
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Saribut, Salitta. "Using Correspondence Analysis to Explore the Relationship Between Information Sources and Elderly Tourist Segments". Modern Applied Science 12, nr 5 (28.04.2018): 89. http://dx.doi.org/10.5539/mas.v12n5p89.

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This research aimed 1) to segment the target market of New-Age Elderly tourists, and 2) to define the data source that each group of New-Age Elderly tourists used for their trip planning by collecting data from 420 samples of Thai tourists aged between 60-80 years old in tourist attractions in cities. It was found from the findings that we can group New-Age Elderly tourists into five segments. Having analyzed the relationship between sources of tourism information and five segments of New-Age Elderly tourists the results can be summarized as follows. The first segment (‘Worried’) stressed making decisions and only felt confident after reading and having seen pictures. This group then stressed using tourism sources from leaflets or brochures. The second segment (‘Accepting aging’), saw it as a fact of life that no one can control aging and that it should be accepted. They stressed using friends and relatives as sources of tourism information. The third segment (‘Firmly with changes’) dared to face up to new things and considered life as an adventure. Plus, they sought out new and unseen tourism destinations that seemed exciting and wild so, they stressed using tourism data sources from tourism magazines and TV programs. The fourth segment (‘Young at heart’) were those with life satisfaction, who loved having fun and always felt young. They wanted to travel and stressed using data sources directly from tour agencies. The fifth segment (‘Consciousness’) were conscious in their actions and did not dwell on the past. This segment stressed using information sources from articles in travel magazines, newspapers, or journals. This study provides more understanding about the concept of the New-Age Elderly that makes a contribution to both research in the area of the New-Age Elderly and for practitioners in the tourism industry.
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Jeaheng, Yoksamon, i Heesup Han. "Thai street food in the fast growing global food tourism industry: Preference and behaviors of food tourists". Journal of Hospitality and Tourism Management 45 (grudzień 2020): 641–55. http://dx.doi.org/10.1016/j.jhtm.2020.11.001.

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Ghaderi, Zahed, Ahmad Puad Mat Som i Joan C. Henderson. "When Disaster Strikes: The Thai Floods of 2011 and Tourism Industry Response and Resilience". Asia Pacific Journal of Tourism Research 20, nr 4 (21.02.2014): 399–415. http://dx.doi.org/10.1080/10941665.2014.889726.

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Sueabunthong, Chanita. "RECOVERY STRATEGIES OF THE THAI HOTEL INDUSTRY DURING AND AFTER THE COVID-19 PANDEMIC". BSSS Journal of Commerce XIII, nr 1 (30.06.2021): 15–27. http://dx.doi.org/10.51767/joc1302.

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The pandemic of coronavirus is one of the big health challenges that ever happened in the world which has generated a variety of negative effects and made significantly changed the different industries, especially the tourism and hospitality industry. The paper aims to identify the recovery strategies of the hotel industry during and after the COVID-19 pandemic likely to continue in the short and medium term to create customer confidence and generate income for survival. The data were collected by using qualitative approach with semi-structured interview. The study results presented the hotel industry needs to adapt into a new normal lifestyle, upgrade hygiene and cleanliness standards, provide COVID-19 prevention and safety measures, and provide contactless technology. Additionally, it was found that mostly hotel manager focuses more on sales and marketing strategies through social media to attract customers with staying and booking during and after the pandemic. This research study is going to add value to the hotel managers to respond to such impacts to recover the hotel.
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Rozprawy doktorskie na temat "Thai tourism industry"

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Mehta, Harsh. "The impact of terror incidents on US and EU tourist arrivals in India the need for a variable that captures terror Incidents in tourism forecasting models /". Diss., Connect to the thesis, 2009. http://hdl.handle.net/10066/1457.

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Jonsson, Louise, i Matilda Nilsson. "Should sex tourism be viewed as a threat for future development? : A perspective that explores the general approach of sex tourism and prostitution in the tourism industry based on historical, cultural, and traditional values in The Gambia". Thesis, Högskolan i Halmstad, Akademin för lärande, humaniora och samhälle, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:hh:diva-31521.

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This bachelor thesis describes the component of society which sex tourism descends from in Gambia. Sex tourism is an emerging sub-industry to tourism that affects several different social spheres in communities that are characterized by tourism. It is a phenomenon that unfortunately not only affect adult’s even minors enter however, rarely by choice. The origin of sex tourism in Gambia dates back to the early 70s when the tourism started to blossom. The tourists arrived in the country with different cultures that collided with the indigenous and in combination with the master-servant relationship from the colonial era and the exotification of the country as a holiday destination, sex tourism derived.
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Moeletsi, Jacob Monanoe Ditlhokoa. "An investigation of the barriers and constraint factors that influence the entrepreneurs in the tourism industry / by Jacob Mohanoe [i.e.Monanoe] D. Moeletsi". Thesis, North-West University, 2004. http://hdl.handle.net/10394/2372.

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YUNSHAN-LIN i 林昀珊. "The Political Economy of Taiwanese Engaging in Thai Tourism Industry". Thesis, 2016. http://ndltd.ncl.edu.tw/handle/95422338068455781500.

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碩士
國立暨南國際大學
東南亞學系
104
Thailand’s tourism has been drawing attention and yielding increasing income year after year. As more and more Taiwanese people are traveling the world by taking “independent tours”, the so called “Taiwan travel agencies”have been gradually emerging in Thailand. This study aims to take a close look at what advantages these “tourism operators from Taiwan” have over their counterparts in Thailand and what impact Thailand’s tourism policy have on these foreign operators. I talked with eight Taiwan tourism operators in Thailand by using semi-structured interviews and summarized the pros and cons on how Taiwaneseoperate tourism business in Thailand and the role that Thaigovernment has been playing during different stages of its tourism development. Thai government has developed a right policy on promoting overall tourism and achieve its goals based on this policy. In the meantime, the nation also provides assistance in helping new competitors in joining in the tourism market and bears the risks from changing corporate operation procedures. To promote the nation’s tourism, Thai government plays the role of both a creator and driver. However, according to what I found from the interviews with Taiwan tourism operators in Thailand, there are no applicable laws, rules, or regulations on small private-owned tourism businesses in Thailand. This provides a great food for thought for Thai government when promoting tourism to the world.
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Vatanasakdakul, Savanid Information Systems Technology &amp Management Australian School of Business UNSW. "An investigation of the appropriateness of internet technology for inter-firm communication in the Thai tourism industry". 2007. http://handle.unsw.edu.au/1959.4/44428.

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The aim of this thesis is to investigate the appropriateness of B2B technology transfer in developing countries, particularly in Thailand. This study seeks an understanding of how Thai culture affects the appropriateness of B2B technology adoption for inter-firm communication in Thailand. A research model was developed for investigating this issue via a strategic fit lens. The proposed model extended the Task-technology fit (TTF) model by Goodhue and Thompson (1995) by integrating interorganisational theories and theories of national culture. This research takes the view that, to achieve a high utilisation of B2B technology adoption, firms in developing countries need to adopt effective IT strategies that align with their local environment. Hence, this research proposes that cultural fit is a major influence on the perception of appropriateness of B2B technology adoption in Thailand. The study was conducted using both qualitative and quantitative approaches. The first study, the qualitative study, was conducted as a preliminary study by interviewing officials in the Thai government and companies in the tourism industry. The objectives were to explore and identify the cultural dimensions that impact on the appropriateness of B2B technology adoption in Thailand. The resulting dimensionalities of cultural fit are: personal relationships; long-term relationships; interorganisational trust; ability to communicate in the English language and materialism. The second study was conducted via a quantitative approach and scales were developed to validate the proposed research model. Data were collected through a survey questionnaire, and analysed by using Structural Equation Modeling with Partial Least Squares (PLS) method. This study found that cultural fit does influence the appropriateness of B2B technology adoption in Thailand. A better perceived fit between Thai culture and B2B technology results in higher technology utilisation. In addition, the results of moderating effect analysis found that, although task-technology fit had no direct impact on utilisation, task-technology fit did have indirect impact on utilisation by moderating the impact of culture. Nevertheless, the results indicated that task-technology fit still had a greater impact on firms' perceived performance than utilisation.
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Sophonsiri, Vanida. "Developing host-guest relationships in Thai tourist resorts". 2008. http://eprints.vu.edu.au/1423/1/sophonsiri.pdf.

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This relationship marketing study investigates the influence of national culture on the development of host-guest relationships between local and international tourists and Thai resort operators on Samui Island, Thailand. It proposes that a quality relationship between tourists and resort operators, which is characterised by high levels of trust and commitment, is the major determinant of customer loyalty. In particular, it concentrates on the major cultural differences between Thai and Australian tourists that impinge upon host-guest relationship development. To assist in the study, a research model developed by Morgan and Hunt (1994) was modified and used to conceptualise host-guest relationships and to inform the data collection procedure. Based on survey data collected from Australian and Thai tourists that arrived on Samui Island between January and February 2005, it was found that Australian and Thai respondents have different service experiences during their vacation. Moreover, they also weigh the importance of the antecedents of trust and commitment differently. The findings of the study highlight the need for resort operators to interact with tourists in a culturally sensitive manner. The managerial implications of the results of this study for resort operators are presented, and some recommendations for future service management and delivery strategies are suggested.
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Gao, Grace H. "A study of the factors that will increase the number of Chinese tourist visits to South Africa, with a particular reference to the Chinese tourism industry in Shanghai". Thesis, 2007. http://hdl.handle.net/10321/120.

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Thesis (M.Tech.: Tourism and Hospitality Management)-Durban University of Technology, 2007 xi, 130 leaves
Tourism is one of the world's major industries and is increasing in importance as a source of substantial employment and of great economical and social benefit to many regions around the world. China has the world’s largest population and it has been predicted that China will become one of the world’s major sources of international travellers in the 21st century. Although the outbound travel industry in China has only been developing in recent years, there has been an increasing number of outbound Chinese going all over the world. South Africa is one of the countries that are beginning to be penetrated by the emerging Chinese outbound traveller market. The purpose of this study is to examine the South Africa inbound tourism industry’s readiness for the increasing Chinese tourist market to South Africa and also to examine South Africa as a secondary international destination for the Chinese traveller. The study also aims to explore the Chinese travellers’ interests and major concerns when travelling to South Africa and the expectations of the inbound tour operators in Shanghai. A purposive sample of 118 respondents from Shanghai’s tourism industry participated in the study.
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Jones, Clive. "The travel industry dynamics that affect the profitability and market share of travel management companies". Thesis, 2012. http://hdl.handle.net/10210/6592.

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M.B.A.
The travel industry is a dynamic fast changing environment that is impacted by many external factors. Travel Management Companies (TMC) need to align themselves to this environment ensuring that they are learning organisations and are changing with the times. In an attempt to reduce distribution costs, a number of airlines internationally have commenced with the reduction of commissions paid to travel management companies. As a result, a number of TMC's have closed their doors due to them not being able to convert their client base onto management fee or transaction fee models where the clients pay the TMC for the service they render, rather than the airline paying the TMC. The South African market is moving in a similar direction with airline commission cuts being planned for within the next year. The change in the manner in which agencies are remunerated would result in the need for the introduction of service fees, rather than the current commission income. This would result in the TMC's having to place increased attention on service delivery, aligned to the new income source being the client rather than the operator. A true travel management company needs to provide a complete travel management solution including statistical analysis of trends, cost saving initiatives and improved service delivery inter alia. With the onset of technology and the need for the airline distribution costs to be reduced, a number of airlines are directing travellers to their online website booking engines thus alleviating the need for the TMC. Airlines are utilising discounted airfares on the website as the attraction for travellers to rather make use of this cheaper form of distribution as opposed to airlines having to pay agents commission for the business forwarded by agents
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CHANG, SHU-TING, i 張舒婷. "The Importance of Factors that Affect Hospitality and Tourism Internship Experiences Students’ Intention to Stay in Hospitality Industry: An Application of the Two-Factor Theory". Thesis, 2017. http://ndltd.ncl.edu.tw/handle/24672557586104544192.

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碩士
國立高雄應用科技大學
觀光與餐旅管理研究所
105
his study aimed to apply Herzberg's two-factor theory to examine the differences between hospitality students’ work values who had and had not conducted internships. Moreover, this study investigated the key factors that can enhance the intention of hospitality students to stay in the hospitality industry. A survey questionnaire base on Herzberg's two-factor theory was developed and distributed to hospitality students in Taiwan. The outcome revealed that the key factors that increased hospitality students’ intentions to stay in the industry are “good relationships in workplace” and “the recognition for a job well done.” The key factor that decrease subjects’ intentions to stay in the hospitality industry is “increased work responsibilities without increasing expected compensation.” The results suggested that the motivational factors are more important to the students with higher intentions to stay in the hospitality industry. They might feel satisfied with their basic working conditions, so they are more aware of the motivational factors. On the other hand, students who had lower intentions to stay in the hospitality felt that the hygiene factors are more important. This outcome suggested that the students with low intention to pursue a career in hospitality might feel that the working conditions do not satisfy their basic needs.
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Książki na temat "Thai tourism industry"

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S, Robinson Lillian, red. Night market: Sexual cultures and the Thai economic miracle. New York: Routledge, 1998.

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Gelbert, Doug. Company museums, industry museums, and industrial tours: A guidebook of sites in the United States that are open to the public. Jefferson, N.C: McFarland & Co., 1994.

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The importation of Canadian beef that comes from animals older than 30 months of age: Field hearing before the Subcommittee on Interstate Commerce, Trade, and Tourism of the Committee on Commerce, Science, and Transportation, United States Senate, One Hundred Tenth Congress, first session, February 21, 2007. Washington: U.S. G.P.O., 2007.

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Butler, Richard, i Wantanee Suntikul, red. Tourism. Goodfellow Publishers, 2017. http://dx.doi.org/10.23912/9781910158814-3160.

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Williams, Erica Lorraine. Working-Class Kings in Paradise. University of Illinois Press, 2017. http://dx.doi.org/10.5406/illinois/9780252037931.003.0004.

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This chapter examines the parameters and structure of Salvador's sex tourism industry. Drawing on ethnographic interviews with tour guides and tourism industry workers, it explores the complexities of tourism, race, and sexuality in Salvador. The chapter begins by considering issues of class as they relate to Italian tourists. It then discusses the ways in which sex tourism has been defined and understood in academic scholarship, in the popular media, in government anti–sex tourism campaigns, and by interviewees. It also probes how the Brazilian government defines sex tourism as a manifestation of child sexual exploitation and assesses the perspectives of tour guides and tourism industry workers about how sex tourism operates in Salvador. Finally, it presents case studies that illustrate how Italian men are constructed as the quintessential sex tourists as well as how discourses of class status distinguish who may be considered a sex tourist.
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Williams, Erica Lorraine. Geographies of Blackness. University of Illinois Press, 2017. http://dx.doi.org/10.5406/illinois/9780252037931.003.0002.

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This chapter explores the connections between the cultural and sexual politics of the transnational tourism industry in Salvador. It first provides an overview of sex tourism zones as well as zones of class and race in Salvador before turning to the city's Afro-Brazilian cultural tourism. More specifically, it considers how Afro-Brazilian men, commonly referred to as caça-gringas, or pega-turistas, capitalize on their cultural expertise to attract female and male foreign tourists by teaching capoeira and Afro-Brazilian dance and percussion. The caça-gringas illustrate the key role played by Afro-Brazilian culture in the marketing of Bahia in the international tourism industry as the Black Mecca. The chapter also looks at Candomblé as a case study in Afro-Brazilian cultural appropriation. It shows that the spatial and racial dynamics of sex work in the tourist districts are bound up with processes of social exclusion.
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Holsey, Bayo. Slavery Tourism. Redaktorzy Paula Hamilton i James B. Gardner. Oxford University Press, 2017. http://dx.doi.org/10.1093/oxfordhb/9780199766024.013.26.

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This chapter presents a case study of the slavery tourism industry in Ghana, tracing its development and noting some of the struggles it has faced. Based around the dungeons in the Cape Coast and Elmina castles used to warehouse slaves bound for the Atlantic trade, Ghana’s slavery tourism industry emerged in the 1990s through complex negotiations among different interested parties. The chapter notes in particular the disjuncture between Ghanaian understandings of the history of the slave trade and that of international and especially African American tourists. It also critiques the tourism industry’s focus on the triumph over slavery and considers the ways in which such an emphasis forecloses the possibility of a more radical interpretation of history. Finally, it places Ghanaian slavery tourism within the broader context of a global public history of slavery.
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Long, Lucy M. Culinary Tourism. Redaktor Jeffrey M. Pilcher. Oxford University Press, 2012. http://dx.doi.org/10.1093/oxfordhb/9780199729937.013.0022.

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A product of both world history and contemporary mass culture, culinary tourism is a scholarly field of study that is emerging as an important part of the tourism industry. Also known as gastronomic tourism, tasting tourism, and simply food tourism, culinary tourism refers to adventurous eating, eating out of curiosity, exploring other cultures through food, intentionally participating in the foodways of an Other, and the development of food as a tourist destination and attraction. In culinary tourism, the primary motivation for travel is to experience a specific food. Culinary tourism parallels the globalization of food production and consumption and reflects issues inherent in tourism. It has the potential to address some of the controversial issues in tourism in general, such as questions of authenticity, commodification of tradition, identity construction, intellectual property and intangible heritage, as well as the ecological, economic, and cultural sustainability of food cultures in response to tourism.
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Green, Joshua. From the Faroes to the World Stage. Redaktorzy Fabian Holt i Antti-Ville Kärjä. Oxford University Press, 2017. http://dx.doi.org/10.1093/oxfordhb/9780190603908.013.6.

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This chapter explores music in the context of evolving transnational dynamics in the Faroe Islands, focusing on the tourism boom and on connections with the global music industry. Similar to the situation in Iceland a decade earlier, music became part of an evolving tourism economy in the early 2010s, shaped by exotic views of the North Atlantic. Drawing from Urry’s concept of the tourist gaze, the chapter shows how Faroese bands work as producers of difference, within an international system of industry and institutions, including the Nordic Council. The analytical focus is on transnational mobility and industry networks of popular music and its performers. The chapter shows that Faroese bands engage with these transnational flows and with exoticism in the international marketing of their music. The core case study is the doom metal band Hamferð, whose career evolved to participation in international events, particularly festivals and competitions.
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Din, Abdul Kadir, red. Tourism research in Malaysia what, which way and so what? UUM Press, 2010. http://dx.doi.org/10.32890/9789675311567.

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This collection offers a sample of contemporary works on tourism and its impact on the Malaysian environment, written by academics from a variety of perspectives. Given the growing body of literature on different aspects of the industry the coverage is by no means representative, let alone exhaustive, of the current discourse.Nonetheless the nineteen chapters cover a range of interests and concerns which have emerged as a consequence of spectacular growth in tourist arrival which currently places Malaysia as one of the most popular destinations in Asia. Recent forecast indicates that the growth trends will continue for at least another decade before the country as a destination approaches maturity.This volume would be a useful reference for students, academic and other researchers who are looking for detailed information to enable them to analyse the impacts and implications of tourism development on the host society.
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Części książek na temat "Thai tourism industry"

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Jotikasthira, Nuttapong, Suebsanti Bhutibhunthu i Ichayaporn Chuaychoo. "Competency-Based Hiring as a Tool to Improve the Thai Meeting and Convention Industry: A Sales Executive Perspective". W Impact Assessment in Tourism Economics, 141–56. Cham: Springer International Publishing, 2016. http://dx.doi.org/10.1007/978-3-319-14920-2_10.

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Vargas-Hernández, José G. "Regional Sustainable Development". W Emerging Innovative Marketing Strategies in the Tourism Industry, 259–304. IGI Global, 2015. http://dx.doi.org/10.4018/978-1-4666-8699-1.ch015.

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This study aims to determine the potential of cultural tourism in the municipalities that comprise region 6 of the State of Jalisco, territorially delimited in the South of Jalisco. These municipalities are tested first to identify the demand for cultural tourism to determine the profile of the cultural tourist under the assumptions that tourists especially motivated by culture tend to travel longer distances than most tourists. It discusses the motivations and satisfactions of cultural tourists in order to establish the potential market in accordance with the characteristics of the target market in the southern region of Jalisco. Any operation of cultural tourism companies should make the strategic diagnosis, which explains the use of SWOT analysis as a tool for strategic planning of cultural tourism enterprises. Finally, we propose some development strategies of cultural tourism in this region of Southern Jalisco.
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Mohamed, Abdul Razak. "Multi-Cultural Communication is Essential for Tourism Industry". W Advances in Human Resources Management and Organizational Development, 211–36. IGI Global, 2019. http://dx.doi.org/10.4018/978-1-5225-5760-9.ch009.

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Tourism is an industry that serve the international communities. Language plays an important role in global and local communication. A tourist travels to various destinations due to the fact that it is of environment, social, cultural, and religious importance. No tourist chooses a destination due to the language, but often tourists consider language a barrier for travel and tourism. This chapter explores the diversity in culture in terms of language used for communication both oral, written, and body language in the context of global to local.
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Machado Mendes-Filho, Luiz Augusto, i Anatália Saraiva Martins Ramos. "Internet Diffusion in the Hospitality Industry". W Encyclopedia of Information Science and Technology, First Edition, 1635–39. IGI Global, 2005. http://dx.doi.org/10.4018/978-1-59140-553-5.ch288.

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Tourism is the most important industry in the world in terms of the numbers of employees and its effect on the social and economical development of a region or country. Holjevac (2003) believes that, by the year 2050, tourism will by far be the largest industry worldwide, with 2 billion tourists and US$24 billion in domestic and international receipts. Moreover, the major tourist destinations will be India, China, Indonesia, and Brazil.
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Snezana, Stetic, Igor Trišić i Adrian Nedelcu. "Sustainability of Tourism Development in Rural and Mountain Areas in Eastern Serbia". W Advances in Hospitality, Tourism, and the Services Industry, 190–206. IGI Global, 2020. http://dx.doi.org/10.4018/978-1-7998-1302-6.ch011.

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The most attractive tourist destinations are those that have preserved natural and geographical environment, protected nature and anthropogenic tourist motives attracting domestic and foreign tourists. Very often rural and mountainous areas in Serbia have been neglected, without developmental perspectives. Sustainable tourism development in these areas represents conditionality for the use of tourism areas, so that they are not destroyed in such a way that future generations cannot use them. Destinations that have the capability to offer such tourism resources are able to be competitors in the tourism market. The significance of tourism development for rural and mountainous parts of Serbia is extremely high given that world tourism trends are oriented towards such destinations. It is about poorly developed areas. This chapter aims at understanding the potential of mountains and rural parts of Eastern Serbia and their inclusion into the tourism offer, using the long-term concept of sustainable development of this part of Serbia.
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Andrade, Stephen C., i Hilary Mason. "Digital Imaging Trek". W Selected Readings on the Human Side of Information Technology, 475–98. IGI Global, 2009. http://dx.doi.org/10.4018/978-1-60566-088-2.ch027.

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This chapter introduces the concept and activities of the digitally enabled tourist and the impact such as tourist has on the travel and tourism industry. It summarizes the existing and emerging technical environments that encourage the use of hand held digital recording devices and personal Internet communications. Additionally, it looks at ways tourists publish and exhibit digital visual and written artifacts of their travel experience. The chapter introduces general types of digital communication infrastructure to be considered by the industry to create an experience to support this type of tourism. The authors hope that further understanding of the digitally enabled tourist will inform travel professionals to better facilitate commerce and practice in the industry.
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Andrade, Stephen C., i Hilary Mason. "Digital Imaging Trek". W Information Communication Technologies, 1867–88. IGI Global, 2008. http://dx.doi.org/10.4018/978-1-59904-949-6.ch132.

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This chapter introduces the concept and activities of the digitally enabled tourist and the impact such as tourist has on the travel and tourism industry. It summarizes the existing and emerging technical environments that encourage the use of hand held digital recording devices and personal Internet communications. Additionally, it looks at ways tourists publish and exhibit digital visual and written artifacts of their travel experience. The chapter introduces general types of digital communication infrastructure to be considered by the industry to create an experience to support this type of tourism. The authors hope that further understanding of the digitally enabled tourist will inform travel professionals to better facilitate commerce and practice in the industry.
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Andrade, Stephen C., i Hilary Mason. "Digital Imaging Trek". W Human Computer Interaction, 2590–613. IGI Global, 2009. http://dx.doi.org/10.4018/978-1-87828-991-9.ch171.

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This chapter introduces the concept and activities of the digitally enabled tourist and the impact such as tourist has on the travel and tourism industry. It summarizes the existing and emerging technical environments that encourage the use of hand held digital recording devices and personal Internet communications. Additionally, it looks at ways tourists publish and exhibit digital visual and written artifacts of their travel experience. The chapter introduces general types of digital communication infrastructure to be considered by the industry to create an experience to support this type of tourism. The authors hope that further understanding of the digitally enabled tourist will inform travel professionals to better facilitate commerce and practice in the industry.
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Sano, Kaede. "Reputation and image recovery from the Great East Japan Earthquake A long journey with high hopes". W Reputation and Image Recovery for the Tourism Industry. Goodfellow Publishers, 2019. http://dx.doi.org/10.23912/9781911396673-4105.

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Tourism is considered one of the more important industries in the world, contributing economically to many countries’ development (Huang et al., 2008). The Japanese government has actively promoted inbound tourism since the launch of the ‘Visit Japan’ campaign in 2003, by implementing various policies, such as relaxing tourist visas, building a tourist-friendly environment, implementing a tax-free policy and so on. As a result, 28,691,073 international tourists visited Japan in 2017, compared to 5,211,725 in 2003 (JNTO, 2018a, 2018b). Undoubtedly, the booming tourism market brought a significant economic impact to Japan. According to data from the Japan Tourism Agency (JTA, 2017), the economic impact of tourism in 2015 amounted to 25.5 trillion Japanese yen (approximately USD 234 billion), and tourism accounted for four million jobs or 6.7% of nationwide employment (JTA, 2017). However, the tourism industry is also more fragmented and vulnerable to crises and disasters (Faulkner, 2001; Ritchie, 2004), and the industry often finds it difficult to rebound quickly from crises and disasters that have damaged the image of a destination (Cassedy, 1992). Although the number of international tourists to Japan has continually increased since 2003, the industry was greatly affected by the world-wide financial crisis in 2009 and the Great East Japan Earthquake (also called the 3.11 Earthquake and Tohoku Earthquake) in 2011.
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Swarbrooke, Professor John. "The Tourism Industry and the Marine Environment". W The Impact of Tourism on the Marine Environment. Goodfellow Publishers, 2020. http://dx.doi.org/10.23912/9781911635574-4438.

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Throughout this book we have been looking, primarily, at the negative impacts of tourism on the marine environment. It would appear reasonable to lay the blame for this at the door of the tourism industry, which facilitates the vacations that cause this harm and makes money from exploiting the marine environment and the other natural resources of tourist destinations around the world. However, things are not always that simple, as we will see in this chapter. For in tourism, and certainly land-based tourism, it has often been the tourism industry itself, and particularly the tour operation sector, which has often been leading the way on responsible tourism, often with little encouragement from the tourists themselves and usually no government regulation forcing them to act. Their motives may not have been altruistic but, nevertheless, they have taken action on a number of fronts, while events like the Responsible Tourism Days at World Travel Market in London have sought to share good practice around the tourism industry.
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Streszczenia konferencji na temat "Thai tourism industry"

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"Social Structures, Isomorphic Pressures, and B2B Utilisation in the Thai Tourism Industry". W 2009 42nd Hawaii International Conference on System Sciences. IEEE, 2009. http://dx.doi.org/10.1109/hicss.2009.397.

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Lebedeva, S. A. "CONSEQUENCES OF PANDEMIC IN TOURISM. SOME WAYS TO RECOVER THE INDUSTRY". W Х Всероссийская научно-практическая конференция. Nizhnevartovsk State University, 2021. http://dx.doi.org/10.36906/fks-2020/32.

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The emergence of a new virus, that has hit the world, has dealt a devastating blow to the tourism industry. Months of downtime for airlines, hotels, and other tourist-oriented businesses have contributed to rising global unemployment and a colossal decline in the travel industry's contribution to global GDP. The fallout from the pandemic will naturally reshape the tourism market. The tourists’ demand will be more directed to the domestic market. The consumers will devote more attention to outdoor travel away from the cities and crowds of people.
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Vojinović, Dragan, i Nevena Kapor. "THE IMPACT OF PANDEMIC CORONA VIRUS ON COMMUNICATION IN TOURISM". W The Sixth International Scientific Conference - TOURISM CHALLENGES AMID COVID-19, Thematic Proceedings. FACULTY OF HOTEL MANAGEMENT AND TOURISM IN VRNJAČKA BANJA UNIVERSITY OF KRAGUJEVAC, 2021. http://dx.doi.org/10.52370/tisc21180dv.

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Communication and information technologies have greatly influenced the changes of tourism as an activity, especially when it comes to distribution channels in tourism, achieving more accurate and closer communication with customers/tourists, easier access to information, which ultimately affected the creation of market competition with the focus on the tourist. Communication in the tourism industry is of universal importance if the goal is an adequate level of tourist satisfaction as well as competitiveness in the local and global market. Communication is not just promotional activity aimed at attracting tourists, but the totality of relationships that are realized before arrival, during staying and after the departure of tourists, and their quality determines the ratio of expected and achieved satisfaction of a service user. The aim of the research is to understand the different effects that communication (verbal and non-verbal) has in restrictive business conditions. In addition, the paper seeks to point out the practical aspects of the communication process of all participants, directly or indirectly, involved in the creation and provision of services in the tourism industry, with reference to the time of the pandemic.
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Vasileva, Vanya. "SPECIFICS IN THE TERRITORIAL LOCATION OF THE ANTHROPOGENIC TOURIST RESOURCES IN BULGARIA". W TOURISM AND CONNECTIVITY 2020. University publishing house "Science and Economics", University of Economics - Varna, 2020. http://dx.doi.org/10.36997/tc2020.188.

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The striving for achieving a more even development of Bulgarian tourism both in time and in territorial terms makes the topic of the report especially relevant. Although widespread, anthropogenic tourist resources are not evenly distributed throughout Bulgaria. The purpose of the paper is not only to examine the unevenness of their territorial location, but also to indicate the reasons for this, as well as the reflection of this fact on the tourism industry. The analysis is at the level of administrative areas. The areas that are presented with dignity in terms of sites and events (anthropogenic tourist resources) are the cultural centers of our country. Accordingly, they are most attractive to tourists. The data reviewed in the paper show that the tourism industry of the districts that make full use of their anthropogenic tourism resources is more competitive than that of most of the other districts.
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Bostan, Aziz, Zehra Türk i Hande Akyurt Kurnaz. "The Importance of Marmaris Tourism Industry on Development and Factors That Influence Russian Tourists in Choosing Marmaris". W International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00739.

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Turkey thanks to its natural and cultural tourism resources is an international tourism destination characterized by intense mobility. Due to the length and the seasonal availability of sea coast, especially from the Russian tourist market activity experienced in Marmaris. The purpose of this study, to determine the contribution of the tourism sector in the country's economy and Russian tourist profile were examined and investigated the reasons for choosing as a destination of Marmaris. Survey data collection techniques were used in the study of national and international research was supported by literature. In this context, the problem of the study, subject, scope and importance of the material and the methods used are explained and explained and the data obtained were analyzed. The results of this analysis are evaluated.
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Platov, A. V., i S. K. Tarchokov. "INFRASTRUCTURE DEVELOPMENT OF THE TOURISM INDUSTRY IN THE CONTEXT OF GLOBALIZATION". W Х Всероссийская научно-практическая конференция. Nizhnevartovsk State University, 2021. http://dx.doi.org/10.36906/fks-2020/44.

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The development of tourist infrastructure should be considered from the point of view of the following approaches: setting and achieving new goals; evolution, the complexity of the system; adaptation to conditions and changing requirements; solving problems and contradictions that arise within the system or in its interaction with the external space. The state should focus on the development of tourism infrastructure as the basis of the tourism industry and the inclusion of Russia in the global tourism space. The article describes the manifestations of tourism globalization and international factors, imperatives, and drivers that affect the development of tourist infrastructure. The principles, approaches, and directions of tourism infrastructure development in the context of globalization are defined.
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Karagöz, Kadir. "Volatility in Tourist Inflows: Evidence from Turkey". W International Conference on Eurasian Economies. Eurasian Economists Association, 2013. http://dx.doi.org/10.36880/c04.00601.

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Tourism sector, like most of the other countries of the world, has also gained importance in Turkey in last few decades. Global tourist flows and tourism income have a steady increase. Hence, as an effective tool for sustainable economic development and welfare, importance of tourism sector is rising. Tourism is a considerable source of an additional income, exchange, employment and tax revenue for most countries. Turkey is one of the prominent tourism destinations for the world tourist flows. Turkish tourism industry began to grow in 1980s with the incentive macroeconomic policies. The industry has been growing in terms of international tourist arrivals and tourism receipts despite some discouraging events, such as economics crisis in the source countries, changing concerns, political incidents etc. For a sustainably growing and productive tourism sector it is essential to reduce the volatility in tourist arrivals. A less volatile tourist inflow may help to policy and decision makers. So, understanding the volatility of demand can reduce the uncertainty and help to develop appropriate policies. This paper aims to conduct such an analysis for Turkey’s inbound tourist flow, using the monthly data for 1996-2011 period. Exploiting alternative modeling techniques to measure and investigate the volatility in international tourist arrivals, the study concluded that the volatility of tourist arrivals to Turkey is asymmetric: positive shocks have a differential impact on future volatility than negative shocks.
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Ryszkowska, Dorota, Karolina Gołębieska, Czesław Adamiak, Anna Ostrowska-Tryzno, Jacek Klawender i Wojciech Ryszkowski. "Evaluation of the initiatives of the eastern Poland tourism brands cluster using a modified COO effect model". W Contemporary Issues in Business, Management and Economics Engineering. Vilnius Gediminas Technical University, 2019. http://dx.doi.org/10.3846/cibmee.2019.051.

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Purpose – the main goal of tourism clusters is to attract more tourists to the region and improve the quality of regional tourism products. The aim of this paper is to verify whether the initiative of the Eastern Poland Tourism Brands Cluster has contributed to the development of tourism services and products offered by local firms. Research methodology – to achieve the goal, we described and evaluated cluster activities based on secondary sources of data and questionnaire interviews conducted with the representatives of entities involved in the cluster. We used the modified COO effect model to evaluate the services according to the following criteria: modernity, diversity, prestige and quality. We employed a 5-item Likert scale in our questionnaire. Findings – the results of the analysis showed that despite the increased recognition of tourist brands and products, the cluster did not survive. This experience shows that clusters operating in the tourism industry have less chance of survival than industrial clusters. Research limitations – main limitation of the research is the scarcity of source materials and a low number of surveys returned by cluster members. Personal meetings with respondents would add valuable information. Practical implications – the results of research can be used as an indication for the development and maintenance of tourist cluster initiatives on the market. In recent years, more and more studies focus on the development prospects of tourism clusters. Originality – until now, however, no study on cluster performance has employed the COO effect model or its derivatives, which makes our paper novel in this aspect.
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Kazandzhieva, Velina. "DISTRIBUTION OF TOURISM SERVICES IN OMNICHANNEL RETAILING". W TOURISM AND CONNECTIVITY 2020. University publishing house "Science and Economics", University of Economics - Varna, 2020. http://dx.doi.org/10.36997/tc2020.335.

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Omnichannel is a buzzword in e-commerce and online tourism trends over the last few years. Moreover, it is a concept and marketing approach to apply in travel and tourism industry. The way tourists research, plan and book their tours and activities is evolving. Knowing the trending booking channels include the entire path to purchase, from inspiration to conversion. The growing importance of online sales means that traditional bricks-and-mortar retailers need to transform the distribution system to deliver an omnichannel experience to their customers.
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Jung, Wonjo, Takeo Kondo, Kazukiyo Yamamoto i Hanseok Lee. "Regeneration of Fishing Ports as Tourism Industry in Republic of Korea". W ASME 2010 29th International Conference on Ocean, Offshore and Arctic Engineering. ASMEDC, 2010. http://dx.doi.org/10.1115/omae2010-20615.

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Factor analyses were performed on fifty eight national fishing ports in Korea, excluding ones on remote islands, with respect to their latent tourism potential, and they were classified as historical/cultural type, fisheries industry-oriented type, tourism development type, nature preservation type, or fishing port-dependent type. Then, cluster analyses were performed to examine these fishing ports from the perspectives of fisheries industry/preservation type and recreation/development type. Results of analyses on tourism characteristics of fishing ports according to the typology indicated regionally uneven trends. In addition, the results of our analyses on the fishing ports with respect to latent tourism potential and tourism structural characteristics showed that the most important contributing factors were production quantity of fisheries products and moorage facilities, followed by nature tourist sites, harbor fixed-water area, and outlying facilities, in that order. Therefore, in developing fishing ports for tourism in the future, political measures are required to enhance fisheries industry bases for maintaining the function of fishing grounds, and, additionally, projects for improving the environment, such as purification of harbor water, are necessary.
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Raporty organizacyjne na temat "Thai tourism industry"

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Legena, Henry, Brittney McKenzie, Aria Goodridge, Karyl Pivott, Joshua Austin, Kristen Lynch, Shamika Spencer i in. Experimental Evidence on the Use of Biomethane from Rum Distillery Waste and Sargassum Seaweed as an Alternative Fuel for Transportation in Barbados. Inter-American Development Bank, maj 2021. http://dx.doi.org/10.18235/0003288.

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This paper presents an alternative to the current use of gasoline and diesel for transportation in Barbados. By relying on experimental evidence, it shows that biomethane emanating from the combination of Sargassum seaweed that is found on the seashores of the country with wastewater from rum distillery production can be used to produce an alternative transportation fuel. If implemented successfully, this alternative combustion method can avoid as much as 1 million metric tons of CO2 emissions every year in the country. These findings have important implications for policymakers. First, they can contribute to the national objective of becoming fossil fuel free by 2030 and diversifying the energy matrix. Second, this alternative fuel can improve resilience to natural catastrophes, complementing the transition to renewables and diversification of the sector. Third, the impact on the tourism industry is expected to be high and positive, as the Sargassum seaweed has been declared a national emergency due to its prevalence on beach tourism spots.
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Lonsdale, Whitney R., Wyatt F. Cross, Charles E. Dalby, Sara E. Meloy i Ann C. Schwend. Evaluating Irrigation Efficiency: Toward a Sustainable Water Future for Montana. The Montana University System Water Center, listopad 2020. http://dx.doi.org/10.15788/mwc202011.

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Water is our most valuable natural resource, and is used to support the demands of industry, agriculture, hydroelectric power generation, and municipalities. Water also sustains Montana’s booming recreation and tourism economy and maintains the diverse freshwater ecosystems that provide natural goods and services and promote human well-being. As our population continues to grow, and the collective demand for water increases, it is imperative that we carefully assess how our water is used, as well as how changes in water distribution, management, and governance are likely to influence its availability in the future. This is especially important in the context of a changing climate.
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Vargas-Herrera, Hernando, Juan Jose Ospina-Tejeiro, Carlos Alfonso Huertas-Campos, Adolfo León Cobo-Serna, Edgar Caicedo-García, Juan Pablo Cote-Barón, Nicolás Martínez-Cortés i in. Monetary Policy Report - April de 2021. Banco de la República de Colombia, lipiec 2021. http://dx.doi.org/10.32468/inf-pol-mont-eng.tr2-2021.

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1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.
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