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Tourism Economic [File size : 125 kb | Download]
Level: Bachelor Semester -Spring Year : 2017
Programme: BHM Full Marks: 100
Course: Tourism Economics Pass Marks: 45
Time : 3hrs.
Candidates are required to give their answers in their own words as far as practicable.
The figures in the margin indicate full marks.
Very Short Answer Questions .
Attempt all the questions. 10×2
- What is micro economics?
- Mention the free resources in the tourism economics?
- What are the variables constraining tourism demand.
- Explain about shift in supply curve.
- Define TR and MR.
- What is price discrimination under monopoly market?
- Define GDP.
- What is Balance of Payment.
- What are the non-tradable good in tourism and hospitality industry?
- Mention four macroeconomics variables?
Descriptive Answer Questions 6X10
Attempt any six questions
- Differentiate between micro and macro economics.
- Define elasticity? Mention the types of price elasticity.
- Describe the state of equilibrium at market in tourism and hospitality industry?
- Derivate TP, AP, and MP curve.
- Explain the process of price and output determination under perfect competition market.
- Discuss about the negative and positive impact of tourism in national economy.
- Mention the effect of tourism taxation in the tourism and hospitality industry.
Case Analysis 20
Read the case situation given below and answer the questions that follow:
The hospitality industry is a broad category of field with in service industry that includes lodging, event planning, theme parks, transportation, cruise line, and additional fields with in the tourism industry. The hospitality industry is a multibillion-dollar industry that depend on the availability of leisure time and disposable income. A hospitality unity such as facility maintenance and direct operations (servers, housekeepers,porters, kitchen workers, bartenders, management, marketing, and human resources, etc.)
Usage rate, or its inverse “vacancy rate”, is an important variable for the hospitality industry. Just as a factory owner would wish a productive asset to be in use as much as possible (as opposed to having to pay fixed costs while the factory is not producing), so do restaurants, hotels, and theme parks seek to maximize the number of customers they “process” in all sectors. This led to formation of services with the aim to increase usage rate provided by hotel consolidators. Information about required or offered products are brokered on business networks used by vendors as well as purchasers.
In looking at various industries, “barriers to entry” by newcomers and competitive advantages between current players are very important. Among outer things, hospitality industry players find advantage in old classics (location), initial and ongoing investment support (reflected in the material upkeep of facilities and the luxuries located therein), and particular themes adopted by the marketing arm of the organization in question (for example at theme restaurants). Also very important are the characteristics of the personnel working in direct contact with the customers. The authenticity, professionalism, and actual concern for the happiness and well~being of the customers that is communicated by successful organizations is a clear competitive advantage. Investment in the tourism industry means the creation of capital or goods capable of producing other goods or services in tourism
industry for earning higher profits in the private sector or regional revitalization and economic growth for public purposes. Nkwichi lodge in Mozambique is a good example. Investments to the projects created 75 jobs for locals supporting over 1,000 community members. It also established a community trust that built five local schools, a maternity clinic and a maize mill that provided nutrition and education to more than 350 farmers and their families. This is having a transforrnative impact on poverty reduction and improvements in the quality of life of some of the worlds poorest. While the answer is not 100 percent clear, it is clear that the tourism sector is growing and in particular in developing in transition countries. Its total contribution to global GDP has grown by 21 percent in the last decade to$5,992 billion in 2011. Developing countries can leverage tourism to support local companies and entrepreneurs in developing new products and exports. The tourism sector provides a means by which local entrepreneurs can experiment with new products and test them on international markets in their home country before exporting. International tourists typically create demand for products and services which may not have already existed in the local market and also demand certain quality standards. Whilst these can be a challenge to meet in the short-term, tourism creates the market and the incentive to drive the process leading to growth and improvement over time. Many developing countries have rich natural or cultural heritage assets such as national parks, coral reefs, rare species, ancient cities or monuments that are under threat. Often, states do not have the financial resources to allocate to the preservation of these areas and more creative ways of funding their protection must be sought. The revenue generated from tourism is one such solution -provided it is regulated and managed in a responsible manner.
Answer all questions
i. What is competitive advantage in tourism and hospitality?
ii. What is the reason behind the “barriers to entry” in tourism and hospitality industry?
iii. What are the problems of under developed countries for the tourism investment?
iv. How does local people benefited from tourism activities?