modern Olympic Games three times which having previously done so in 1908 and in 1948. The Olympic Games is an event which can potentially have a significant economic impact on the host city. For smaller country‚ it can also impact the economics of the host nation as a whole. What is ‘economic impact’? According to Harper‚ 2009‚ economic impact is a measure of the spending and employment effects of a specific project- in this case ‘London 2012 Olympic Games’. She also stated the effects are generated
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Socio-Cultural Impacts From Tourism Change or loss of indigenous identity and values Tourism can cause change or loss of local identity and values‚ brought about by several closely related influences: Commodification Tourism can turn local cultures into commodities when religious rituals‚ traditional ethnic rites and festivals are reduced and sanitized to conform to tourist expectations‚ resulting in what has been called "reconstructed ethnicity." Once a destination is sold as a tourism product
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A. ROAD TRANSPORT- dominated by motor cars and coaches that provides door- to- door flexibility‚ gives view of the landscape and a means of transporting recreational equipment. B. RAIL TRANSPORT- provides examples of the specific development of a country. It competes with road transport in terms of time and distance- from city center to city center. C. AIR TRANSPORT- their main market is the visitors who give utmost importance to speed and range. This is available in scheduled and chartered
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Problem Statement The growth and development of tourism in Trinidad from 2002–2007 and its effects on the economy and society. Statement of the Problem Tourism plays a major role in the growth and development of Trinidad. Many initiatives have been put in place to expand the industry. The government of Trinidad is committed to establishing and implementing standards of development and maintenance for the tourism industry. They try to maintain all the tourist attractions such as beaches and museums
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"The Role of Central Banking in the Global Economic and Financial Crisis" 1. Introduction It is fair to say that central banks around the world have learned the lessons from previous crises and they attempted to change financial regulations to keep pace with the changing global financial system. The policy response triggered by the recent financial crisis has been rapid and it appears that the global policy response has helped to mitigate the effects of the financial
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What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics? The determination of whether a resource is scarce is its supply in relation to demand such as land‚ labor capital and human capital. If there is not sufficient amount of resource to satisfy the demands‚ then resources are set to be scarce. On the other hand if supply exceeds it demand‚ then the resource is not scare not only that if the supply of a goods or service is low
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If Africa is to be successful in competing in the international tourism market‚ standards of excellence must be introduced. In order for Africa to facilitate progress in implementing good tourism development there are key issues facing the continent that need to be addressed. These issues are; Comprehensive government policies for tourism‚ Public health and safety‚ Capacity building‚ Infrastructure‚ Environmental mitigation and protection. State capacity-building is a critical aspect of
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The Economic Impact of the BP Oil Spill In April of 2010‚ a British Petroleum operated oil drilling rig off the Gulf of Mexico‚ the Deepwater Horizon‚ exploded suddenly after high pressure methane gas from the oil well rose to the drilling rig‚ causing it to ignite and then sink to the bottom of the ocean floor. The explosion caused a sea-floor level oil blowout‚ and crude oil was leaked into the surrounding water for three months before a solution was found. After eighty-seven long days‚ the wellhead
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index crosses 300. The social and economic costs arising from the haze are significant. Haze will certainly disrupt the daily activities of the people as more will stay at home to avoid inhalation of pollutants. Many outdoor activities will have to be cancelled and schools will have to be closed if the PSI reaches unhealthy range. The cancellation of the various activities will cause reduced interactions among people. The loss in recreation activities will impact the wellbeing of the people physically
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Introduction: Tourism means the principle of traveling for pleasure. Many people are in the habit of traveling over different countries in order to see the places of their respective interests like the structures of sculptural beauty‚ attractive spots of nature and so on. So‚ we find a lot of foreign tourists in different countries. The travels of the foreign tourist bring a lot of money to the countries where they travel. Hence‚ tourism has become a source of income for the countries to which
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