Aviation_and_tourism_economics.docx

Aviation_and_tourism_economics.docx - AVIATION-TOURISM...

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AVIATION-TOURISM RELATIONSHIP 1 The Name of the Class (Course) Professor (Tutor) The Name of the School (University) Date 1. Tourism Satellite Account: 2015 for New Zealand will be considered for this analysis. It will be used to highlight the significance of air transport for the tourism industry. The Tourism Satellite Account: 2015 takes into account the travel expenditure that the tourists incur as they seek to get to their destinations. In addition to this, it also takes cognizance of the outbound travel purchased from New Zealand-resident firms. In this, the aviation industry eases the flow of commodities especially in oversea travel expenditure. These include commissions to travel agents, fairs to carriers, travel insurance and vaccinations of the tourists. All these impact to the New Zealand economy. 2. a. The inelastic nature of US inbound travelers is based on the fact that the proportion change in price is much higher than the change in demand for air travel. This means that
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AVIATION-TOURISM RELATIONSHIP 2 tourist travel is insignificantly affected by the changes in price. This means that the fares
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