Tourism has become a commercial business, which has obvious benefits to the said economy, the environment and society. Often, the positive economic impacts persuade governments, companies and individuals to get involved with the development of tourism. Tourism creates jobs, both
The availability of budget, experts, employee’s facilities from the ministry of tourism guarantee operational feasibility for this project. According to (Factors affecting marketing in travel and tourism). “In many cases government-run tourism boards are the sole source of funding for a travel and tourism marketing campaign”. Moreover, the government support for the
Project finance is a kind of Financing that has a priority does not depend on the creditworthiness of the sponsors proposing the business idea to launch the project. Approval does not even depend on the value of assets sponsors are willing to make available as collateral. Instead, it is basically a function of the project’s ability to repay the debt contracted and remunerate capital invested at a rate consistent with the degree of
Public Private Partnership or PPP is a subject being given the increasing attention that it has been receiving in context of the sweeping changes in India's economic policies. We are all aware, along with the dismantling of the license permit raj a greater role is envisaged for the private sector in these new policies. Now it seems that, the private sector is not only to be facilitated in its growth, but there it can be taken on board as a partner by the government in the provision of public services. This of course, is the purpose of PPP. For those of us who have had a long innings in Government, such thinking represents a paradigm shift from the way things were always done.
As mentioned by Rimmington & Morrison (2009), the assistance from different parts of the world presents a new and diverse outlook for future research including theoretical innovations and revelations, cultural and environmental aspects, tourist destination and other ecotourism and recreational aspects of tourism and hospitality industry (Brotherton,
Government funding through grants and loans is particularly important given the low profit margins in U.S. petroleum in the current market. Many infrastructure revitalization and replacement plans have high upfront costs that are often too high a risk for the private
A lot of hope reside on the upcoming government. Along with the expectations that Modi will change the landscape of the country, there also lies the obvious advantage of a majority government where the government will tend to less fractious and prone to disharmony thus facilitating quick introduction of reforms. This can be seen in the present context where Modi has announced a myriad number of development schemes to address the critical issues of the country. Some of them that are in the news are Swachh Bharat Abhiyan, Pradhan Mantri Jan Dhan Yojana, Make in India, labour reforms are so on. Even though the efforts are commendable, implementing the schemes to have the intended effect will be a big task in itself. We would like to go through some of these schemes to check whether they are holistic enough or address the underlying problems and the potential roadblocks in their effective implementation.
During the project initiation phase, I can work collaboratively with the project sponsor in the development of project charter and lead up to the formal authorisation of the project/ new phase. From the sponsor’s project SOW (Business need, product scope), Business case etc., I can identify measurable project objectives, high level requirements, risks, summary milestones and budget and approval authorities. The key deliverables in this phase are project charter and stakeholder lists.
The following literature is suggesting that how a tourist destination can be analyzed with the help of Butler's Tourism Life Cycle Model. Butler (1980) introduced the concept of the model which clarifies and extends earlier work by, for example, Cristaller (1963), Noronha (1976) and Stansfield (1978). In doing so, Butler clearly links the development cycle of tourism destinations to that of products in the product life cycle model. This is one the best used management framework to know the evolution in a tourism destination as described by Baum (1998), the original Butler's model included:
Policy and planning directly related, despite being completely different types of processes, they both confront the same issues, that being the overall future development of a destination. This essay reflects on policy and planning in the tourism industry. Beginning with the purpose of tourism policy, underlining why policy and planning is important, how it is utilized, and finally the benefits to tourism development. Utilizing examples from Kenya, United Kingdom, New Zealand, and Croatia to further illustrate why tourism policies and planning are necessary in destinations.
The two reasons why economic development projects or initiatives face financing gaps are the allocation of scarce resources to alternative uses (limited revenue) and large scale capital requirement or capital intensity of most public goods that are involved in economic development process. The dimensions of these reasons are the
The Travel and Tourism industry is still one of the largest single businesses in world commerce and its importance is widely recognized. The tourism industry is now one of the largest sectors earning foreign exchange. In the face of many benefits, many countries have started assigning due weight age to the tourism industry in their national development agenda. Tourism is an industry that operates on a massively broad scale: it embraces activities ranging from the smallest sea-side hotel; to air-lines, multi-national hotel chains and major international tour operators. Originally, non-traditional industries such as tourism emerged as a solution to strike a balance between ecology and industry
To achieve the project aim, various targets were formulated. These allowed a thorough analysis of the financing structures and effects of sources of capital from different platforms, directly and indirectly. These were to: