Mary Fish

Measuring efficiency in the hotel industry: a stochastic frontier approach.

Abstract This study employs a stochastic frontier technique to estimate managerial efficiency levels in the hotel industry. The only prior efficiency study in this sector employed a linear-programming technique termed data envelopment analysis (DEA). That study found the hotel industry to be operating at a 89% efficiency level. The stochastic frontier approach overcomes many of the potential statistical limitations of DEA and allows for additional insights on efficiency in the hotel market. The average efficiency measures for the hotel industry estimated by the stochastic frontier approach are high and consistent with the results obtained using DEA. In particular, average efficiency was estimated at 89.4%, with the most and least efficient hotels operating at a 92.1% and a 84.3% efficiency level, respectively.

Current Income versus Total Expenditure Measures in Regression Models of Vacation and Pleasu re Travel

This study compares the impact that life cycle income and current income have on the number of vacation and pleasure trips taken and trip expenditures of families. Total household expenditure is used as a surrogate for permanent or life cycle income. A stratified sample was taken from the U.S. Department of Labor consumer survey data. The impact of additional variables such as age of consumer unit, reference person, and number of old and young people in the household is also evaluated. The percentage spent on trips increases as the total expenditure quintile rises, while the percentage spent on trips decreases as the income quintile increases. Total household expenditures is the strongest variable for forecasting trips and the spending on them.

Rankings of Economics Faculties and Representation on Editorial Boards of Top Journals.

Two lists of economics departments are developed on the basis of editorial board representation on economics journals. Editorial board representation is shown to have a positive correlation with other previously published rankings of economics departments.

A Comparison of the Publications of Female and Male Economists

The publication records of female and male economists are compared. Some explanations are offered for the differences.

Taxing international tourism in West Africa.

Abstract West Africa mass tourism focuses on Scandinavian, European, and United States tourists taking beach holidays during the winter months. Beach resort hotels seeking to attract international tourists are in a monopolistically competitive market structure. Localities, rather unsuccessfully, attempt to differentiate the sun/fun package which they offer from those of their competitors. Prices are locked into a small price range. In West Africa a general export tax rate of 10 to 15 percent of total tourist expenditures is incorporated in the industrys cost structure. The impact of adding two types of resort hotel taxes is considered: land taxes (lump sum) and bednight taxes (unit). An increase in hotel land taxes will not change the price or bednights offered by hotels. They will continue to operate at their initial output and price position. Whereas, added bednight taxes are an addition to unit cost and, therefore, will effect the output level and result in a new, slightly higher price and fewer hotel guests.

Devaluation and US tourism expenditure in Mexico.

Abstract Studies that investigate the factors affecting US tourism expenditures in Mexico generally regard relative prices in these countries as sensitive determinants. The findings of inelasticity of expenditures of American tourists with respect to prices in the Mexican interior and border in several studies published in the 1980s are debatable. This study evaluates the impact of recent peso devaluations by adjusting 1970–1982 US tourism expenditures by an index that combines the Consumer Price Index in dollars, the CPI in pesos, and the exchange rate. The results here clearly indicate that US expenditures in the interior and on the border are price sensitive and have a strong positive trend reaction to devaluation in both nominal and real terms. Border expenditures clearly exceed interior expenditures and are more sensitive to exchange rate changes than expenditures in interior Mexico.

Market Sensitivity of U.S. And Mexican Border Travel

This article explores the reaction of Mexican-U.S. border travel expenditures to movements in the Mexican and U.S. cost ofliving index and the peso-dollar exchange rate. Border travel patterns between 1970 and 1985 are studied by converting expenditures to real dollars using an interrelationship among these three variables. The Mexican governments devaluations of the peso between 1976 and 1985 improved Mexicos border travel balance.

The impact of changing conditions on international resort returns: a case study in a developing country

Abstract The economic and internal rates of return are frequently used to assess the acceptability of investments in tourist resorts for developing countries. If the cost of debt, the debt-equity mix or the number of tourists change, then the projected rates of return will change. Here, projected cash flows from a typical case study are presented and the rates of return are calculated under several different assumptions. Given the uncertainty attached to cash flow forecasts, the sensitivity of the anticipated rates of return to changes in the underlying assumptions is as important as the projected rates themselves in making investment decisions.

Mexico's devaluations and changes in net foreign exchange receipts from tourism

Abstract Mexicos international tourism industry makes a vital contribution to foreign exchange receipts that are needed desperately to pay foreign debt obligations. However, its share of world tourism receipts has declined since devaluations of the Mexican peso. The industrys proportional contribution to total receipts has exhibited a significant downward trend over the last 18 years. Adjusting the receipts and expenditures from international tourism by a ratio index comprised of the Mexican Consumer Price Index, the U.S. Consumer Price Index, and the peso/dollar exchange rate portrays the relative impact of increased purchasing power of world travellers in Mexico and increased costs to Mexican residents travelling outside of their country. The simultaneous effect of lowering the cost of travel to Mexico and increasing the cost of international travel for Mexicans has enabled Mexico to maintain a favorable net foreign exchange balance from tourism.

Indonesia's international tourism: a shifting industry in Bali

Abstract International tourism in Indonesia has changed since the increase in the number of direct international flights to Bali. The impressive growth in Balls international tourism involves a shift in the nationality, orientation and spending of its direct arrivals. Bali is attracting lower-spending tourists who are choosing economy accommodations that are suited to their holiday plans as well as higher-spending visitors. Bali must decide if a two-tiered approach is the best direction for the industry given the overall socio-economic objectives of the Island.