Exercise 6: Tourism and ‘La Crise’...
Do we still have a crisis? Answers, as they (used to) say on Radio ‘on a postcard’: who knows?! This is how ‘crisis’ looked in the 70s (when I was a little younger than you are now and doing my Bac homework by candle-light three days a week as there was no electricity as the UK government had run out of money!). The hot group to catch in concert was Supertramp, and their album title’s ironic perspective was: ‘Crisis? What Crisis?’. You might not have heard of them, but I bet you’ve heard their song ‘Dreamer’ (U Tube). Christine Lagarde was rather caught uncharacteristically ‘off her guard’ the other day when she walked into the statistic that in...
Exercise 5. Making Tourism Macroeconomic ‘Connections’...
Well, we have talked through some of connections between tourism statistical results and the interaction of variables that may be causing them…. for example: ‘La Crise’ might have been a function of: the lack of regulation of the American / international ‘sub-prime’ market greediness of financial houses lending far more than borrowers could repay the (over?)reaction of the media resulting in a more widespread and deeper sense of loss of confidence than might have strictly been necessary. In turn this lack of confidence and the actual economic downturn changed peoples’ attitudes towards their disposable income and its expenditure….. particularly in terms of Tourism a a good at the ‘luxury’ end of the market. Good managers should make a...
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