Browsing by Subject "Tourism industry"

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Dubai, debt, and dependency : the political and economic implications of the bailout of Dubai
(2011-05) Frasca, Alexandra Marguerite; Henry, Clement M., 1937-; Leeds, Sandy
The goal of this thesis is to identify the main political and economic implications of Dubai’s debt crisis and subsequent bailout by her wealthier and more powerful sister emirate Abu Dhabi. This paper examines the implications of the bailout of Dubai on two levels: Dubai’s relationship with Abu Dhabi and Dubai’s relationship with the international investment community. The paper first provides a brief background on Dubai, one of the seven emirates that make up the United Arab Emirates (UAE), and discusses Dubai’s key characteristics that helped give Dubai her nickname Dubai Inc. – an opportune location, the Al-Maktoum ruling family, and state-led entrepreneurship. It then discusses Dubai’s historically competitive relationship with Abu Dhabi and Dubai’s push to diversify economically away from oil. The paper outlines two key economic developments – the rise of Dubai’s real estate and tourism sectors and the creation of Dubai’s government-related enterprises (GREs), which helped finance the real estate bubble. This thesis suggests that Abu Dhabi now holds unquestionable power over Dubai and can control Dubai’s GREs and their subsidiaries such as Dubai World. This paper also argues that the international investment community will demand increased transparency and higher standards of corporate governance of Dubai’s businesses in light of the entrenched poor practices that the bailout exposed within the tiny-city state's GREs and companies.
Estimating the economic impact of tourism events : creating an input-output model for Texas
(2008-05) Gieryn, Nathaniel Thomas; Oden, Michael
Estimates of the economic impact generated by tourism events can vary greatly depending on the methodologies used to conduct an analysis. This professional report will attempt to establish a standardized methodology for estimating the economic impact created by demand shocks to the economy resulting from event generated tourism visitation and spending with the final deliverable being a state-level input-output model for Texas. A review of state-level input-output models created for Michigan and Georgia in addition to a hypothetical scenario based on the 1996 Atlanta Olympics will illustrate the importance of assumptions in input-output analysis and lead to a discussion regarding some elements of hosting an event and increasing tourism that cannot be captured through this method. The report concludes by briefly examining considerations that should be made before applying the Texas model, the potential for future improvements, and finally the viability of recruiting events as an economic development strategy.