...Economic impact approaches Page #1 Approaches to Estimating the Economic Impacts of Tourism; Some Examples Daniel J. Stynes Updated January 1999 Introduction The purpose of this bulletin is to present examples of different approaches to estimating the economic impacts of tourism. In a previous bulletin (Stynes 1997), I summarize economic impact concepts and methods as they apply to tourism. Here we apply the methods to illustrative cases in order to demonstrate some practical approaches. Three specific examples are presented. These represent a range of alternatives for estimating the economic impacts of visitor spending. The techniques covered range from methods based largely on judgement, to methods that utilize secondary spending data and published multipliers, to the use of visitor surveys and input-output models. A third bulletin in this series discusses survey methods for measuring visitor spending and includes sample spending instruments. While the construction and operation of tourist facilities also has economic impacts, we will restrict our attention here to the impacts of visitor spending. Review of Basic Approach and Levels of Analysis The economic impact of visitor spending is typically estimated by some variation of the following simple equation: Economic Impact of Tourist Spending = Number of Tourists * Average Spending per Visitor * Multiplier This equation suggests three distinct steps and corresponding measurements or models: (1) Estimate the change...
Words: 9518 - Pages: 39
...The Rise of “Economic Consequences” – Notes The impact of accounting reports on decision making may be the most challenging accounting issue of the 1970s. By Stephen A. Zeff Notes by Tyler Shivers Introduction There are increasing “outside forces” in the standard setting process since 1960s. Two parallel developments marking this trend * Individuals and groups rarely had shown interest in setting accounting standards but then started intervening actively & powerfully in the process * New arguments had be brought up and the term “economic consequences” has been used to describe them Economic consequences – the impact of accounting reports on the decision making behavior of business, government, unions, investors, and creditors. * Accounting standards setters must take into consideration of detrimental consequences when deciding on accounting questions. Until recently, accounting policy making was deemed neutral in effect or was considered not responsible. Policy makers have been aware since 1960s that there was a third party intervention issues but not the Economic Consequences argument till 1970s When management began intervening, its true position was probably disguised This is the tactical rhetoric suggested by examination of arguments 1. The traditional accounting model, where management was genuinely concerned about unbiased and “theoretically sound” accounting measurements. 2. The traditional accounting model, where management was really seeking...
Words: 1271 - Pages: 6
...Economic Impact Analyses analyze the economic effects of a particular project in a particular area. This analysis can cover a region as small as a neighborhood and as large as the world. The main variables analyzed include revenue, profits, wages, and jobs. They consider the direct impact the economic impact has on an area as well as indirect impacts. For instance, you can analyze the total number of employees a firm will hire if it builds a new factory. You can also analyze what this increase in employment will do to other non-related industries in the area. These newly employed workers will have more money to spend at a local store which will in turn create more profits and potentially more jobs. It typically analyzes activity before the project and after the compare the changes and the impact of the project. This is typically done by measuring the difference in economic activity assuming the economic event occurs and then assuming it does not occur. This is called the counterfactual case. An economic event can be defined as a new business moving into a region, a new policy or government program, or any other activity that produces some sort of profit. This is useful to determine if a particular project is worth investing in (Southwestern Oklahoma State University, 2012) . The main types of impact analysis include output impact, value added impact, labor income impact, and employment impact. There is also a property value impact. An output impact measure the total increase...
Words: 2004 - Pages: 9
...Economic impacts of Tourism Page # 1 Economic Impacts of Tourism Daniel J. Stynes Businesses and public organizations are increasingly interested in the economic impacts of tourism at national, state, and local levels. One regularly hears claims that tourism supports X jobs in an area or that a festival or special event generated Y million dollars in sales or income in a community. “Multiplier effects” are often cited to capture secondary effects of tourism spending and show the wide range of sectors in a community that may benefit from tourism. Tourism’s economic benefits are touted by the industry for a variety of reasons. Claims of tourism’s economic significance give the industry greater respect among the business community, public officials, and the public in general. This often translates into decisions or public policies that are favorable to tourism. Community support is important for tourism, as it is an activity that affects the entire community. Tourism businesses depend extensively on each other as well as on other businesses, government and residents of the local community. Economic benefits and costs of tourism reach virtually everyone in the region in one way or another. Economic impact analyses provide tangible estimates of these economic interdependencies and a better understanding of the role and importance of tourism in a region’s economy. Tourism activity also involves economic costs, including the direct costs incurred by tourism businesses...
Words: 11443 - Pages: 46
....... 3 Economic Concept ..................................................................................................... 4 Economic Analysis ..................................................................................................... 5 Demand and Supply ............................................................................................... 5 Elasticity ................................................................................................................. 8 Efficiency and Equity ............................................................................................. 10 Conclusion ............................................................................................................... 12 References ............................................................................................................... 13 1 Executive Summary The objective of this paper is to offer an in-depth analysis the economic situation of the newspaper publishing industry in Australia within the microeconomic scope. The paper analyses transformations of the industry brought by digitisation and the fast paced technology development. It discusses how digitisation and technology affects the demand and supply of printed newspapers. It also looks at the elasticity and efficiency and equity of newspaper in the current market. This paper is divided into four section. Following an introduction (Section 1.0), then Section 2 .0 introduces the economic concept...
Words: 3149 - Pages: 13
...ECN 400 WEEK 3 SITUATION ANALYSIS To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-3-situation-analysis/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 3 SITUATION ANALYSIS ECN 400 Week 3 Critical Thinking: Situation Analysis (Hospitals) (70 ) Select an article in a newspaper or magazine that discusses a government policy on goods or services. Analyze the situation and in 600-1200 words: • Summarize the article using at least three economic terms and theories covered in class. • Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s). • Draw a supply and demand graph to explain this change. Be sure to label your graph and clearly indicate the change of the curve. ECN 400 WEEK 3 SITUATION ANALYSIS To purchase this visit following link: http://www.activitymode.com/product/ecn-400-week-3-situation-analysis/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECN 400 WEEK 3 SITUATION ANALYSIS ECN 400 Week 3 Critical Thinking: Situation Analysis (Hospitals) (70 ) Select an article in a newspaper or magazine that discusses a government policy on goods or services. Analyze the situation and in 600-1200 words: • Summarize the article using at least three economic terms and theories covered in class. • Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s). • Draw a supply and demand graph to explain this change. Be sure...
Words: 775 - Pages: 4
...conducted on the topic of how media circulation affects political accountability and government policy. Theory predicts that for a higher share of media receivers, political accountability and hence government expenditures increase. Besley & Burgess (2002) give additional insight into this topic by analyzing the impact of media circulation on government responsiveness to falls in food production and crop flood damage in Indian states. The authors use the extent of public food distribution and calamity relief as proxies for government responsiveness. In addition to media factors, political and economic factors are introduced as potential determinants of policies. The predictions of the theory are underlined by the results of the paper: Government responsiveness increases with a higher amount of media users within a state. Further, political factors are also relevant determinants, whereas, economic factors are of low importance. In the following, the paper will be critically assessed within these sections. First, the theory, the propositions as well as the empirical strategy are introduced and compared to discussions in class. Second, the results of the paper are outlined. Third, the empirical strategy as well as the results will be analyzed and compared to prior research and theory. Finally, a short conclusion and outlook will be given. 2. Theory, Propositions and Empirical Strategy The theoretical two-period model of Besley & Burgess (2002) is based on several assumptions. There...
Words: 2422 - Pages: 10
...2 Product Mission Statement 2.3 Corporate Goals 2.4 Core Competency and Sustainable Competitive Advantage 3. Situation Analysis ……………………………………………………………………………….………….…………….5 3.1 SWOT Analysis 3.2 Industry Analysis 3.3 Competitor Analysis 3.4 Company Analysis 4. Marketing Mix ………………………………………………………………………………………………………..…….............9 Product Strategy Price Strategy Place Strategy Promotion Strategy 5. Marketing Product Focus ……………………………………………………………………….…………………….13 Segmentation Targeting Positioning 6. Marketing Program …………………….…………………………………………………………………………………16 7. Nivea Marketing Survey…………………………………………………………………………………………………21 8. Conclusion………………………………………………………………………………………………………………………. 9. Resources ………………………………………………………………………………………………….………………….25 Company Description and Location ▪ The Times of India (TOI) is an Indian English-language daily newspaper. ▪ The Times of India is published by the media group Bennett, Coleman & Co. Ltd. ▪ According to Audit Bureau of Circulations, it has the largest circulation among all English-language newspapers in the world, across all formats (broadsheet, tabloid, compact, Berliner and online). ▪ According to the Indian Readership Survey (IRS) 2012, The Times of India is the most widely read English newspaper in India with a readership of 76 (7.643 million). ▪ It is one of the top English daily in India by readership. ...
Words: 4715 - Pages: 19
...Citation Guide for Papers To show the research that you have done for your papers, you need to cite your references. There are two predominant referencing systems: (1) footnotes/endnotes or (2) parenthetical referencing. You may use either method, but you must follow proper citation formats. Below is a basic guide for your research design bibliography and paper citations. These cover the most common types of sources, but there are dozens of variations that cannot be covered in a handout. The only way to know how to deal with these is to consult a style manual. If you do not own one, you should purchase one. There are no hard and fast rules for when to include a reference in your work. The general purpose is to allow the reader to go and find the sources that you used. So you want to give them proper “directions”. In general, if you are representing the ideas of someone else – and absolutely when you are using their exact words! – then you should include a reference. The best rule of thumb is, if you are not sure if you need a reference or not, go ahead and include it. Better to “over-cite” than to “under-cite”. NOTE: Many of your sources will likely be gathered through online databases that contain PDF or html version of printed articles. Since these articles ‘original form’ is a paper version, you should cite them as such. That is, an article from Newsweek downloaded from the library’s Academic Search Premier article database should be cited just the same as if you had...
Words: 1295 - Pages: 6
...Background of Newspaper Industry in Hong Kong Hong Kong has over 70 newspapers at present. Most of them are daily newspapers including Chinese, English and other languages. Some of them are horse-racing newspapers which only report news about horse racing; they are not published daily if there is no racing meetings hold, for example during summer vacations. Of the daily newspapers, only 12 are Chinese language. They are Apple Daily, Hong Kong Daily News, Hong Kong Commercial Daily, Hong Kong Economic Journal, Hong Kong Economic Times, Ming Pao, Oriental Daily, Sing Pao, Sing Tao Daily, Ta Kung Pao, Tin Tin Daily and Wen Wei Pao. The existing price of Chinese language newspapers is $5 except Oriental Daily, which is sold at $4. Before the price war in late 1995, there is an agreement among the newspapers that are sold at a uniform price. However, since the price war, such an agreement no longer exists and those newspaper companies are free to adjust their price. There is a comment that the newspaper industry in Hong Kong is one of the most competitive one in the world. Environmental Analysis * Social and Cultural Analysis Society is composed of people and their culture. And culture is greatly determined by common behaviour of the people in a society. In the newspaper industry in Hong Kong, the pattern of reporting of the newspapers targeting for mass market can be a reflection of common behaviour of people in Hong Kong. In this part, behaviours of the mass market are...
Words: 744 - Pages: 3
...To Mr.Wang According to my research to current economic journals in market, I recommend ‘American Economic Review’ as the magazine our company should order for employers to read. We are a public company; our employers should not only focus on their own work, but also have some knowledge of economic or finance to assist CEO to make right decisions for company, and enhance their comprehensive working ability. I have chosen three journals to compare; they are ‘American Economic Review’, ‘Journal of Finance’ and ‘Wall Street Journal’. As for the cost, they are similar, and ‘American Economic Review’ is published quarterly , ‘Journal of Finance’ is double monthly, and ‘Wall Street Journal’ is daily. They are all the most popular journals in Economic industry today, while, they are total different style. ‘Journal of Finance’ is published by American Finance Association, it is the most important journals in Finance field, and the sentences in the magazine are cited the most frequently, that could reflect its crucial part in this industry, and it almost cover all of subjects and topics of finance area, including investing, currency, banking, insurance, securities, activities in finance units and ect. ‘Wall Street Journal’ is actually a newspaper; it is a leading newspaper which not only infects Wall Street of USA, economics of USA, but also the world’s economic. Every day, nearly 2,000,000 people read this newspaper, and its critics even could limit some bad trend. Company...
Words: 506 - Pages: 3
...Analysis of The New York Times Company I. Strategic Profile and Case Analysis Purpose The New York Times Company case describes the company as a leading media company, whose core mission is to provide quality news, information and entertainment. However, recession, new technology trends and strategic leaders play a crucial role in the development of the company. As a result, in September 2008 total company revenue declined by 8% and advertising revenues decreased 13 %. This case examined the current condition of the company and the challenges that it faces. Since its founding in 1851, The New York Times has been successful. When the Ochs-Sulzberger family bought it in 1896, it started to grow internationally. Until today, the family still maintains control of the company due to its dual stock structure. Nevertheless, investors are not satisfied with this situation because they are not able to use their full voting rights for some of the big decisions in the company. In addition, the company managed to put in place the right leadership, however, some leaders created certain difficulties. For example, when the company needed the most its Senior Vice President, Vivian Schiller, she announced that she was leaving her post for a better position in another firm. II. Situation Analysis A. General Environmental Analysis 1. The Economic Segment. The New York Times is the most valuable asset of the New York Times Company, which derives the majority of its revenue from...
Words: 869 - Pages: 4
...Chinese Newspaper Yanhui Wu London School of Economics Job Market Paper February 2011 Abstract Authority de…nes the formal structure of an organization, and is essential for the allocation of resources inside the …rm. This paper develops a theory of authority in a multiple layer hierarchy, in which the distribution of authority alleviates incentive incompatibilities. To examine the theory, I collect monthly personnel data from about 200 journalists over three years in a Chinese newspaper, and provide evidence on their incentives and performance under two basic organizational forms — centralization and decentralization. Relying on an unexpected organizational reform from decentralizing to centralizing editorial power in some divisions of the newspaper, I …nd three main results: 1) centralization improves the quality of the journalists’performance, in terms of the newspaper’ inters nal assessment and the external measures of news content; 2) centralization reduces the journalists’activities for private gain; 3) centralization decreases the editorial activities conducted by managing editors. These results are in line with the theory: a more centralized hierarchy achieves better control over workers’ opportunistic behaviour, at the cost of depressing middle managers’initiative. Key Words: Authority, Organizational Structure, Incentives, Information, Action Distortion, Decision Bias, Media Bias JEL Classi…cations: D2 J5 L2 M5 Economics Department and Centre for Economic Performance...
Words: 21296 - Pages: 86
...that I have submitted has not previously been accepted in substance for any other award. I further confirm that I have not shared my work with other candidates’ Prepared for : Zimbabwe Newspapers Prepared by : Marketing Manager Date : January 2012 Subject :Medium – term Marketing planning to address threats in the external environment of Zimbabwe Newspapers TABLE OF CONTENTS Content Page Executive Summary 4 Corporate Mission 5 Summary of audit findings 5 SWOT Analysis 6 Marketing objectives 6 - 7 Marketing Strategies 7 - 10 Marketing mix decisions 11 - 12 Budgets 12 Implementation 12 Evaluation and Control 13 APPENDICES Appendix 1 : Organizational background Appendix 2 : Audit Findings Appendix 3 : Gabriel’s credibility Matrix Appendix 4 : Implementation / Schedule of activities Evaluation Report References EXECUTIVE SUMMARY Zimbabwe Newspapers (1980) Ltd is the oldest newspaper publisher and commercial printer in Zimbabwe, as well as being easily the largest publisher of newspapers, having dominated the industry for almost 120 years. The company is the proprietor of Zimbabwe’s leading daily...
Words: 9666 - Pages: 39
...leading newspaper in the United States with a circulation of 225,000 customers. Over the past few years, it has been facing a decline in its customer base and revenues. This is mainly due to the increasing dominance of the Internet as a means of disseminating information and news. Susan Feinman, the publisher of The Chronicle Gazette, noted the criticalness of the problem and worried this will become the 21st century equivalent of buggy whip manufacturers. The company is not looking for band-aid solutions but an insight of all the challenges and to work out an effective business strategy. As The Chronicle Gazette has been a steady decline in subscriptions and revenues, this report will present the strategic vision of where the newspaper publishing industry stands today and where it is headed over the next decade. 2. State of the newspaper publishing industry today The U.S. newspaper industry is in the midst of a historic restructuring, buffeted by a deep recession that is battering crucial advertising revenues, long-term structural challenges as readership to free news and entertainment on the Internet, and heavy debt burdens weighing down some major media companies. As the distress mounts – seven U.S. newspaper companies have filed for bankruptcy in the past years – lawmakers are debating possible legislation to assist the industry. Additionally, the Federal Trade Commission (FTC) will hold a series of workshops in 2009 to look at challenges facing newspapers, television...
Words: 2373 - Pages: 10
