Introduction The United Nations World Tourism Organization (UNWTO) has published that the tourism industry has experienced continued growth and diversification to become one of the largest and fastest growing economic sectors in the world for the past six decades. For many economies, tourism has become a key driver for socio-economic progress. It has generated an estimated gross output of US $3.5 trillion and the figure is expected to increase to US $7.0 trillion by 2011 (World Travel and Tourism Council, 2009). The future of the tourism industry is bright as the World Tourism Organization (WTO) forecasts that an estimated one billions tourists will be traveling around the world by the year 2010. The expansion and growth of tourism has contributed to the development of the developed countries as well as less developed counties.
Tourism is financially profitable for country in two ways: taxation for tourists and additional investment. These days, top tourism cities used to tax their tourists. Most of them use tourist bed tax system. For example, according to Holloway and Humphreys that if tourist wants to stay at Edinburg a night 1 pound will be added his or her hotel room bills; In economic recession of 2008 and 2009, Rome struggled from raising city’s funds and government made a tourist bed tax to rebuild the Colosseum (2012, p106). Further positive effect of tourism is additional investment to country.
However, these increases give some impacts on economy and it is reported that in 2010, 52 million Chinese people travelled abroad” (Lixia, 2011). For another thing, tourism industry either can increase people's income and the rate of employment. “As David Cameron says in Barnett (2010), if the UK tourism industry can attract 0.5% more international tourists, this could generate 50,000 new jobs for local citizens”. “Thus, it is obvious that tourism directly increase the employment rate because those industries like accommodation, tour, travel operations and factories manufacturing can provide large numbers of employment opportunities for the local people” (Nworisara, 2011). These business operations invisibly generate large revenue to the government.
By the year 2002, the number had tripled to 54.9 million. Even in 2001 when global terrorism had a big impact in world travel, UKresidents visits abroad continued to increase at 2.5%. During this 20 year period, the number of nights spent abroad by UKresidents, rose from 262 million to 595 million nights. The projection into the next decade, suggests a continued increase in the region of 2-3%. When people travel abroad, people spend money, the increase in travel over the last 20 years has averaged 5.3% each year, over the same time, spending has increased by 10.6%.
Marketing Plan Current Market Situation An opportunity for Western Slopes's success exists because the national tourism and travel industry is growing 4% and adventure travel 10% annually. According to the Department of Commerce, the US travel and tourism industry is the nation's third largest retail industry and will be number one by the year 2000. Revenues from travel have increased approximately 100% in the last decade with US travel agencies producing over $100 billion in revenues each year. The travel and tourism market is separated into two main categories, business and leisure travel. Each contribute about 45% to total revenues.
Compared to its competitors, Citigroup ranks #1 in sales, total assets, and market cap. Citigroup finished the 2003 fiscal year with $94.7 billion in sales and 2004 sales are pacing to finish at $106.2 billion. Citigroup’s net income has increased over 32% since 2000 and they are on pace to finish the 2004 fiscal year with $15.6 billion in profits. Citigroup has over $1.4 trillion in total assets and a market cap of $238.76 billion, which has doubled since 1998. Since 1998 the dividends paid out have increased by 553.57% from $.28 in 1998 to $1.55 in 2004.
Basic earnings per share rose from 5.26p in 2005 to 6.60p in 2006, a 25% uplift. Over the past 12 months, the company's share price has risen 120%. All in all, this was a very respectable financial performance. Analysts forecast for Caffe Nero 2007 Collins Stewart Numis Securities KBC Peel Hunt Teather & Greenwood Altium DKW Shore Capital Average Sales (£m) 108.1 109.9 107.4 109.7 109.9 111.3 - 109.4 EBITDA (£m) 18.5 19 18.4 18.7 19.4 18.8 19.3 18.9 PBT (£m) 9 10.1 9.7 9.8 9.8 9.6 9.5 9.6 EPS (p)* 7.4 7.9 8.1 8.3 7.7 7.4 7.3 7.7 pre-IFRS2 option charge As shown analysts forecast for caffe nero for the year 2007 shows a further rise in sales. As per Collins Stewart (world's second largest inter-dealer broker) has predicts caffe nero sales upto £108.1 million, earning before interest, tax, depreciation and amortizations (EBITDA) upto £18.
Mount Taishan scenic spots received a total number of 379,000 people, which was an increase of 11,600 people in comparison to year 2012 and the growth rate was registered at 3.15%. The revenue generation from ticket sale reached at whooping 33.774 million Yuan with an increase of 431,000 people in comparison to year 2012 at growth rate of 1.29%. The cableway operation centres achieved operating income of 23.8528 million, which was greater than before, it went up to 24.32% than the previous year. 238,500 visitors travelled by the cable way and this represents a decrease of 6.2% than
Post-War Developments of Travel and Tourism Since the Second World War, which ended in 1945, the worldwide travel and tourism industry had grown so much that it is considered as the largest industry in the world. In the past 40 years the developments of the industry has been shaped by a number of factors. These factors can be divided into four categories, which are: * Changing socio-economic conditions * Developing technology * Product technology * Changing consumer needs Changing Socio-economic conditions This is the term given to the combination of social and economic factors. These factors have contributed to the growth of the travel and tourism industry since the Second World War. Leisure time has increased greatly in the past amount of years for people in the UK.
So, with a growing number of wealthy Indians as well as an expanding middle class, the number of Indians traveling within the country has nearly doubled in the past decades to about 450 million. It means that there is a huge domestic tourist market in India itself including business & leisure travelers. An estimated 300 million tourist trips annually are there, on average, which may also include those traveling for social & religious purpose. The industry expects a boom in tourism in the domestic sector in India, & a growth of 10% to 15% over the next few years. A growth in tourism will certainly mean a boom in hotel & restaurants & in turn focus on its service sector & the human resource manning those