This document discusses analyzing the external environment of a tourism organization using PEST analysis. It explains that PEST analysis examines the political, economic, socio-cultural and technological factors in an organization's environment. It also mentions that opportunities and threats come from the external environment, while strengths and weaknesses are internal. A SWOT analysis then combines these external and internal factors. The document provides an overview of how to analyze each of the PEST factors that could impact a tourism organization.
This paper takes a systematic look at the economic impact of the crisis that started in earnest in the fall of 2008 across countries and regions. Despite warnings of growing domestic and external imbalances in many countries years ahead of the crisis, the massive impact of the crisis came as a surprise to most. By correlating economic performance in the crisis with an extensive set of early warning, country insurance, and policy indicators, this paper provides some lessons on crisis prevention and management for the future. Although significant efforts have been made to develop robust early warnings systems, the paper shows the mixed success of some commonly analyzed indicators in predicting economic outcomes in this crisis. The only robust early warning indicator was increases in real estate prices while international reserves seem to have insured against the worst crisis outcomes on average. However, much work on building a robust early warning system remains and the analytical and empirical challenges in this area are substantial. The issues confronting early warning systems are also relevant to the more recent field of macro prudential supervision and regulation. Nevertheless, the cost of crises is massive and preventing future ones with better regulation, policies and supervision based on solid research must be a top priority among policy makers and academics alike.
The Relation Between Exports of Main Products And Economic Growth of Key Econ...inventionjournals
This paper clarifies the literature of key product export growth and regional economic growth. The paper analyses impacts of key product export on regional economic growth and vice versa. The paper provides recent empirical evidence of the relation. Besides an evaluation of the recent relation between export growth and economic growth in Viet Nam, the paper assesses the relation between key product export and economic growth during 1996-2012 period based on quantitative and qualitative approaches. With constructed models, the paper examines the relation between key product export and economic growth and concludes that it is positive. The research findings show that key product export in every economic region contributes positively to regional economic growth although it varies in different regions. Based on existing literature and empirical analysis, the paper provides a number of strategies to improve key product export contribution to key economic regions in the most effective manner and vice versa. The paper creates a fundament for researchers and policy makers both regionally and nationally in order for developing effective orientations, policies and measures for promoting export and sustainable eoconomic development.
This paper takes a systematic look at the economic impact of the crisis that started in earnest in the fall of 2008 across countries and regions. Despite warnings of growing domestic and external imbalances in many countries years ahead of the crisis, the massive impact of the crisis came as a surprise to most. By correlating economic performance in the crisis with an extensive set of early warning, country insurance, and policy indicators, this paper provides some lessons on crisis prevention and management for the future. Although significant efforts have been made to develop robust early warnings systems, the paper shows the mixed success of some commonly analyzed indicators in predicting economic outcomes in this crisis. The only robust early warning indicator was increases in real estate prices while international reserves seem to have insured against the worst crisis outcomes on average. However, much work on building a robust early warning system remains and the analytical and empirical challenges in this area are substantial. The issues confronting early warning systems are also relevant to the more recent field of macro prudential supervision and regulation. Nevertheless, the cost of crises is massive and preventing future ones with better regulation, policies and supervision based on solid research must be a top priority among policy makers and academics alike.
The Relation Between Exports of Main Products And Economic Growth of Key Econ...inventionjournals
This paper clarifies the literature of key product export growth and regional economic growth. The paper analyses impacts of key product export on regional economic growth and vice versa. The paper provides recent empirical evidence of the relation. Besides an evaluation of the recent relation between export growth and economic growth in Viet Nam, the paper assesses the relation between key product export and economic growth during 1996-2012 period based on quantitative and qualitative approaches. With constructed models, the paper examines the relation between key product export and economic growth and concludes that it is positive. The research findings show that key product export in every economic region contributes positively to regional economic growth although it varies in different regions. Based on existing literature and empirical analysis, the paper provides a number of strategies to improve key product export contribution to key economic regions in the most effective manner and vice versa. The paper creates a fundament for researchers and policy makers both regionally and nationally in order for developing effective orientations, policies and measures for promoting export and sustainable eoconomic development.
Unwto paper Macroeconomic Analysis ToolsDavid Vicent
Exploring the Full Economic Impact of Tourism for Policy Making:
Extending the Use of the Tourism Satellite Account through Macroeconomic Analysis Tools
The Financial Recession that hit British economy recently resulted in severe unemployment and job loss across UK. The Recession did have many implications on the British labour market. This paper will have an insight into the implications of Recession on graduate labour market in UK. The data provided by the Association of Graduate Recruiters, Office for National Statistics and High Fliers Research Limited on graduate recruitment market in UK was used to carry out the study. The study will be based on the comparison of graduate recruitment market in the years 2009 and 2010. The comparison of graduate recruitment market will be based on the analysis of graduate labour market for the years 2009 and 2010. This paper will try predicting whether the year 2010 is a favourable year for graduates or not. It will also have an insight into the attitude of students towards recession and will provide necessary recommendations.
The paper studies labour developments in Moldova during transition period. The questions addressed are the size and character of labour market adjustment. Established data sources have been complemented by the results of available surveys to get more precise estimates of the effective employment. Wage data was adjusted for the stock of arrears. We conclude that adjustment to the new market order in Moldova has been done trough prices, which is similar to other FSU countries. Real wages, if adjusted for arrears, amount to only 14% of the pre-transition level. On the other hand, only small labour shedding is observed. Registered unemployment rate is one of the lowest in the FSU and CEE countries. Such way of adjustment has a number of negative consequences, the most important being the phenomenon of unpaid leaves. It appears, that only formal affiliation with enterprise remains, leaving those people effectively unemployed. Survey evidence report double-digit open unemployment rates, with widespread under-employment. With no system of unemployment benefits in place, a substantial number of labour force is involved in survival informal activities.
Authored by: Elena Jarocinska
Published in 2000
International sport events are not only a phenomenon of sport, but also a tourist one. A simultaneous presence of sport and tourism phenomena which is visible in international sports spectacles allows the realization of various functions. Aim of this work was to show the political and economic function in international sports events on the chosen example of Football Championship organization in France in 2016.
Unwto paper Macroeconomic Analysis ToolsDavid Vicent
Exploring the Full Economic Impact of Tourism for Policy Making:
Extending the Use of the Tourism Satellite Account through Macroeconomic Analysis Tools
The Financial Recession that hit British economy recently resulted in severe unemployment and job loss across UK. The Recession did have many implications on the British labour market. This paper will have an insight into the implications of Recession on graduate labour market in UK. The data provided by the Association of Graduate Recruiters, Office for National Statistics and High Fliers Research Limited on graduate recruitment market in UK was used to carry out the study. The study will be based on the comparison of graduate recruitment market in the years 2009 and 2010. The comparison of graduate recruitment market will be based on the analysis of graduate labour market for the years 2009 and 2010. This paper will try predicting whether the year 2010 is a favourable year for graduates or not. It will also have an insight into the attitude of students towards recession and will provide necessary recommendations.
The paper studies labour developments in Moldova during transition period. The questions addressed are the size and character of labour market adjustment. Established data sources have been complemented by the results of available surveys to get more precise estimates of the effective employment. Wage data was adjusted for the stock of arrears. We conclude that adjustment to the new market order in Moldova has been done trough prices, which is similar to other FSU countries. Real wages, if adjusted for arrears, amount to only 14% of the pre-transition level. On the other hand, only small labour shedding is observed. Registered unemployment rate is one of the lowest in the FSU and CEE countries. Such way of adjustment has a number of negative consequences, the most important being the phenomenon of unpaid leaves. It appears, that only formal affiliation with enterprise remains, leaving those people effectively unemployed. Survey evidence report double-digit open unemployment rates, with widespread under-employment. With no system of unemployment benefits in place, a substantial number of labour force is involved in survival informal activities.
Authored by: Elena Jarocinska
Published in 2000
International sport events are not only a phenomenon of sport, but also a tourist one. A simultaneous presence of sport and tourism phenomena which is visible in international sports spectacles allows the realization of various functions. Aim of this work was to show the political and economic function in international sports events on the chosen example of Football Championship organization in France in 2016.
TOURISM PROMOTION, TOURISM REVENUES AND SECTORAL OUTPUTS IN THAILANDIAEME Publication
Since 2010, tourism promoting policies have been implemented to drive economic
growth and also economic development in Thailand. Government allocated a
significant budget to promote tourism sector. As a result, tourism revenues have also
been increased significantly. The increasing in the number of visitors induced the
domestic final demand and the output in tourism related sectors. However, the
different group of visitors will response to the tourism promoting policy in the
different ways. Following the Johansen system cointegration, the results indicate that
the tourism revenue in each group of visitors was response to the difference set of
macroeconomic factors. The estimated normalized cointegration vectors confirm the
positive relationship between government budget for promoting tourism and tourism
revenue for all groups of visitors. For the sectoral analysis, tourism revenue,
naturally, induces final demand and initiates output only in a few sectors. According
to the results, the policies are (1) continuously promote tourism sectors in term of
government budget, (2) set up a specific policy for each group of visitors and (3)
income re-distribution to the sector which are not related to tourism sector.
Executive summary of the United Nations World Tourism Organization (UNWTO) and International Labour Organization (ILO) research: “Economic Crises, International Tourism Decline and its Impact on the Poor: An Analysis of the Effects of the Global Economic Crisis on the Employment of Poor and Vulnerable Groups in the Tourism Sector,” conducted as part of UN Global Pulse’s Rapid Impact and Vulnerability Assessment Fund (RIVAF). For more information: http://www.unglobalpulse.org/projects/rapid-impact-and-vulnerability-analysis-fund-rivaf
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
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2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
A Strategic Approach: GenAI in EducationPeter Windle
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Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
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1. Part 2, Unit 4
The external
environment:
PEST analysis
Tourism Strategy
2. Part 2: Strategic Analysis
Strategic analysis utilises techniques for situational analysis. This
involves reporting on the current and future opportunities and threats
and strengths and weaknesses facing the organisation.
Opportunities and threats summarise the external environmental
factors that a tourism organisation faces. The key elements of the
external environment may be summarised as C-PEST factors which
refer to the
competitive
political
economic
socio-cultural, and,
technological environments.
Of these, PEST factors are analysed in chapter 4, whilst the
competitive environment is considered in chapter 5.
Strengths and weaknesses analysis summarises the state of the
internal resources of an organisation. Resource analysis is
undertaken in chapter 6.
All these factors are brought together in a comprehensive SWOT
analysis at the end of chapter 6, thus concluding strategic analysis
and part 2.
3. Reading
Book Ch
Tribe, J, (2010) Strategy for Tourism, Goodfellow
Publishers, Oxford.
4
Capon, C. (2008) Understanding Strategic
Management, Prentice Hall: Hemel Hempstead.
2
Tribe, J. (2005) The Economics of Recreation, Leisure
and Tourism, Butterworth Heinemann, Oxford.
8, 9
Johnson, G., Scholes, K., and Whittington, R. (2008)
Exploring Corporate Strategy, Prentice Hall: Hemel
Hempstead.
2
4. Learning Outcomes
After studying this chapter and related
materials you should be able to understand:
the political environment
the economic environment
the socio-cultural environment
the technological environment
and critically evaluate, explain and apply the
above concepts.
5.
6. Case Study 4: Tourism and
the 2008 Economic Crisis
2008 can be added to the list of significant economic
crises which include the Great Depression (1929-35)
and the Asian Economic Crisis of 1997-8. By 2007 an
unsustainable set of economic conditions were
developing.
Two quarters of falling output in 2008 confirmed the
arrival of a recession in both the UK and the US.
For tourism, the UNWTO predicted stagnation (0%
growth) or even slight decline (-1% to -2%) throughout
2009. Amongst those most affected were the Americas
and Europe as most of their source markets were
affected by recession.
8. The political environment
Since tourism entities are affected by current
and new government legislation, it is
important to understand the location of
political power, how political power may
change in the future and the likely effects of
this on policy (Burns & Novelli, 2009).
The next slide distinguishes between policy
objectives of typical democratic political
parties of the left and of the right.
9. The political environment
Left wing
(e.g. Labour / Democrat parties)
Right wing
(e.g. Conservative / Republican
parties)
*need to control the free market
*pro trade unions
*some state ownership of industry
*progressive taxation
*regulation of industry
*higher government spending and
taxes
*reduce inequality of incomes
*provision of jobs a priority
*comprehensive welfare state
*poverty reduction and social
mobility goals
*belief in supremacy of the free
market
*anti trade unions
*private ownership of industry
*proportional taxation
*minimal state interference
*low taxes and government spending
*inequality of income as incentive
*control of state spending a priority
*minimal welfare state
*belief in self-help
10. Opportunities and threats in
the changing political
Competition policy
Health and safety
Transport and
infrastructure
Global carbon
agreements and targets
Taxation and spending
plans
Disability and access
legislation
Foreign policy
Visa policy and home
security
Regulation and
deregulation
Regeneration plans
Employment and
training policy
Travel advisories
Minimum wages
12. The Economic Environment
The economic environment (Tribe, 2005) affects
different types of tourism entities in different ways.
The success of an international tourism destination such as
Mallorca, Spain, will be affected by economic fluctuations in
those countries which supply the majority of its visitors
(tourism generating countries), as well as its economic
attractiveness compared to competitive resorts.
Tour operators such as Kuoni (Switzerland ) and TUI
(Germany/UK), face a number of economic environments.
First, domestic economic environments affect the
expenditure patterns of their clients. Second, the variety of
different international economic environments in which their
tourism product is located affects the supply of the tourism
package.
Providers of tourism services will find the international
economic environment affects the demand for their services
and the costs of supplying those services.
13. What are the key variables?
The economic environment affects
organizations in the leisure and tourism sector
in two main ways.
Changes in the economic environment can affect
the demand for an organization’s products
Changes may affect an organization’s costs.
These are set out in the next sections
Additionally background factors such as share
and property prices may affect organizations.
14. Borrowing Employment Taxes
Expectations Disposable
Income
Benefits
Government
Expenditure
Household
Consumption
Savings
Exports Demand Imports
Investment Tourism Organisation
The economic
environment and demand
15. The economic environment
and demand
The key macroeconomic factors affecting
demand for tourism industries are:
household consumption
export and import demand
government expenditure
investment
16. What determines the level of
household consumption?
Borrowing Employment Taxes
Expectations Disposable
Income
Benefits
Household
Consumption
Savings
Imports
17. What determines the level of
household consumption?
real household’s disposable income
employment
benefits and taxes
borrowing and savings
expectations
18. Export and import
demand
Some household consumption is spent on imports. For
the recreation, leisure and tourism sector this can be a
significant amount.
The demand for imports is affected by overseas costs, quality
and uniqueness and the exchange rate.
On the other hand some demand for the goods and
services of domestic firms arises from overseas
customers in the form of imports.
The demand for exports is similarly affected by relative costs,
quality and uniqueness, the exchange rate and the prosperity
of overseas economies.
19. Government expenditure
Tourism organizations which are sensitive to
changes in government expenditure are those
which depend upon government for their income.
Examples of these include arts organisations
including museums and Visit Britain
The level and detail of government expenditure
tend to reflect two things.
the state of government finance
the political party in power.
20. Investment
Some organizations do not supply goods
and services to consumers, but specialize
in supplying capital goods to other firms.
For example, the aircraft manufacturer
Airbus, selling to airlines and tour
operators, finds demand for its products is
sensitive to the level of investment in the
economy
21. The economic environment
and costs
Interest
Rates
Exchange
Rate
Inflation
Rate
R,L & T
Organization
Indirect
Taxes
22. The economic environment
and costs
The key macroeconomic factors affecting costs
of recreation, leisure and tourism goods and
services are:
interest rates
inflation
the exchange rate
indirect taxes
24. Opportunities and Threats in
the Economic Environment
Opportunities Threats
Low interest rates High interest rates
Low unemployment High unemployment
High consumer expenditure Low consumer expenditure
Low oil and other commodity
prices
High oil and other commodity
prices
Low Taxes High Taxes
Favorable exchange rate Unfavorable exchange rate
Stable prices Inflation
Optimistic expectations Pessimistic Expectations
25. The Economic Environment
for an airline
Variable Comments Opportunity Threat
Interest Rates
Employment
Exchange Rate
Taxes
Economic
Growth
26. The sociocultural
environment
Factors in the socio-cultural environment of
tourism entities include
the size and structure of the population
lifestyles and inter-cultural differences
other factors (including attitudes and values about
travel, availability of paid leave and
unemployment)
tourist motivations
27. The technological
environmentThe technological environment offers both
opportunities and threats:
Opportunities may be found in cheaper provision,
or improvements in goods and services, in better
marketing or easier distribution.
However technology may result in an
organisation's product or service becoming
obsolete, or subject to new forms of competition.
The technological environment may be
divided into Information Communication
Technology and other technology.
28. Information
Communication Technology
ICT relevant to tourism encompasses information
search, purchase of services, post travel
engagement and networking.
It includes information and reservation systems for
airlines, hotels and attractions, timetables for
transport systems, search engines (e.g. Google)
online travel services (e.g. Expedia, Orbitz,
Lastminute.com, Opodo, Travelocity and edreams),
destination management systems (e.g.
visitbritain.com), networking and web 2.0 portals
(e.g. tripadvisor.com) and price comparison sites
(e.g. travelsupermarket.com).
29. Other Technology
Other areas where technologies have had a
significant impact on tourism include:
Construction techniques - allowing faster erection of
buildings.
Bridge technology – extending access and cutting journey
times.
Materials – lighter and more durable materials.
Glass – especially with better insulation properties.
Fuels – e.g. biofuels.
Energy – especially alternative sources of energy such as
wind and solar power.
Security scanning – which enables quicker and more
accurate passenger checking at airports.
31. Tourism 2023
Four scenarios from the Future Foundation
1. boom and burst
A booming UK economy and high disposable incomes have
fuelled a growth in travel worldwide.
2. divided disquiet
A toxic combination of devastating climate change impacts,
violent wars over scarce resources and social unrest has created
an unstable and fearful world.
3. price and privilege
A dramatically high oil price has made travel punitively
expensive.
4. carbon clampdown
The Government has introduced tradable carbon quotas for all
UK households
http://www.forumforthefuture.org/files/Tourism_2023_full_report_web_versio
n.pdf
additional copy
32. Review of Key Terms
Political analysis: The effects of government policy and laws.
Economic analysis: Understanding what economic factors will
affect tourism entities and how these economic factors are
changing.
Consumers' expenditure: The amount of money consumers
actually spend.
Exchange rates: The value of a country's currency in terms of
other currencies.
Interest rates - The cost of borrowing.
Expectations: The way people feel about future economic
prospects (optimistic or pessimistic).
Socio-cultural analysis: Understanding changes in population size
and structure as well as changes in consumer tastes, preferences
and broader cultural shifts.
Technological analysis: Analysing changes in science and
technology to understand how these will impact on tourism
entities.
ICT: Information and Communication Technology
33. Discussion Questions
1. Explain how changes in government or government policy
might affect a named tourism entity.
2. Evaluate the economic environment for a named destination
3. Explain how changes in
exchange rates
consumers' expenditure
taxation, and
interest rates
may affect the business of a named airline. What other
economic factors might be relevant to your analysis?
4. What opportunities and threats are destinations facing from
changes in ICT?
5. Provide a PEST analysis for the provider of a major theme
park, distinguishing between opportunities and threats.
34. Case Study 1
Visit the UK Treasury website (or type
“Economic Forecasts” into Google for other
countries
http://www.hm-
treasury.gov.uk/economic_data_and_tools/forecast
_for_the_uk_economy/data_forecasts_index.cfm
What are the economic opportunities and
threats for tourism organisations operating in
the UK market?
35. Case Study 2 My Travel
The following link is to a My Travel
presentation in 2006
http://miranda.hemscott.com/ir/mt/pdf/investorday_presentation.pdf
The whole presentation gives interesting
insights – but slides 40 – 53 is particularly
useful for understanding My Travel’s internet
strategy
36. Case Study 3: BAA
The following link shows in
picture form some of the key
issues facing BAA in 2006/2007
http://www.baa.com/annualreview07/year_in
_pictures/
Organise these into PEST factors
and discuss their impacts on BAA
and its possible responses
37. Part 2, Unit 4
The external
environment:
PEST analysis
The End
Tourism Strategy