Quiz 4 study guide

Quiz 4 study guide - Chapter 14 Optimization (Goals,...

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Unformatted text preview: Chapter 14 Optimization (Goals, Constraints, etc.) - Insists that you maximize: o Psychological benefits & experiences of tourists o Profits for the business firms serving tourists o Maximize direct & indirect impacts of visitor spending- Constraints o Demand o Supply of attractive resources o Technical & environmental constraints o Time constraints o Indivisibilities o Legal constraints o Self-imposed constraints o Lack of knowledge o Limits on supportive resources o Importing resources Generators of Economic Impact- The number of both domestic & international visitors- Their expenditures- Tax receipts & employment- The various multipliers in that particular area Economic Multipliers - Tourist expenditures create direct & indirect impacts- Various types of mulitpliers: o Direct first tier, tourist to suppliers o Indirect second tier, occurs as travel businesses purchase goods or services from local suppliers o Employment o Income Formula for the multiplier a^2 + b^2 = c^2 Elasticity of Tourism Demand...
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This note was uploaded on 04/25/2011 for the course HTM 2454 taught by Professor Bjmihalik during the Spring '06 term at Virginia Tech.

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Quiz 4 study guide - Chapter 14 Optimization (Goals,...

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