FISCAL ASPECTS OF THE LEISURE TRAVEL AND TOURISM INDUSTRY

Selected aspects of financial management in the leisure travel and tourism market are examined. The perspective from which the selected aspects of financial management are investigates is that of a travel agency. The specific aspects of financial management in the leisure travel and tourism market examined are as follows: (1) industry and market growth; (2) effects of airline deregulation on the travel and tourism market; (3) recent conflicts between travel agencies and commercial airlines; (4) responses by travel agencies to changes made by commercial airlines in commission schedules; (5) effects of monetary policy on the travel and tourism industry; (6) financial analysis of a specific travel agency as an illustration of financial performance within the industry; and (7) performance of travel agencies in the financial markets; again using a specific travel agency for purposes of illustration.

Leisure travel and tourism are heavily dependent upon economic growth in the developed economies. Tourism is a major industry on a worldwide basis (Frechtling, 1991). For many small, developing countries, tourism is a major source of income. For major industrial countries, such as Canada, Japan, the United States, and Western European countries, income from tourism is an important source of income (Goodrich, 1991).

Travelers from the United States comprise the largest national se

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period. Fonatur, the National Tourism Development Fund in Mexico, is sponsoring an experimental project on the Pacific, not far from Huatulco, which is designed to give eco-tourists the opportunity to "go native" for a few days ("Natural Delight: Country Protects Its Environment," 1994, p. 59). "We're working with villagers to provide nearly identical accommodations as those the villagers themselves live in. They are putting up half-a-dozen huts similar to the others in the community. Of course, we provide a few amenities, but the idea is to provide tourists with a chance to live like the locals do in a real seaside fishing village," said Arturo Saavedra, the official in charge of the program (Quoted in "Natural Delight: Country Protects Its Environment," 1994, p. 59). In Veracruz, the jungle filled state on Mexico's gulf of coast (Gulf of Mexico), river rafting, hot-air ballooning and hiking are offered along with bird-watching for eco-tourists ("Natural Delight: Country Protects Its Environment," 1994, p. 59). Eco-tourism is the fastest-growing segment in the leisure travel industry. "Future profits lie in focusing on environmental tourism. If man fails to conserve the attractions visitors want to see and enjoy, the tour
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Some common words found in the essay are:
Meyer Oster, Trans World, United Growth, Williams Shaw, Protects Environment, Introduction Selected, Australia Zealand, Exchange Charts, Standard Poor's, Clark Gerstein, travel agents, travel industry, travel agent, travel tourism, travel agencies, leisure travel, tourism industry, airline deregulation, natural delight country, protects environment, country protects environment, leisure travel tourism, delight country protects, country protects, protects environment 1994,
Approximate Word count = 3704
Approximate Pages = 15 (250 words per page)