Zhang Minye. / Thesis submitted in: November 2002. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2003. / Includes bibliographical references (leaves 148-152). / Abstracts in English and Chinese. / Chapter CHAPTER 1: --- INTRODUCTION --- p.1 / Chapter 1.1 --- Overview --- p.1 / Chapter 1.2 --- Thesis Outline --- p.7 / Chapter CHAPTER2: --- TOURISM INDUSTRY AND TOURISM STOCKS --- p.9 / Chapter 2.1 --- Definitions --- p.9 / Chapter 2.2 --- Tourism Industry and Stocks in the U.S --- p.10 / Chapter 2.2.1 --- Introduction --- p.10 / Chapter 2.2.3 --- Financial Problems --- p.14 / Chapter 2.3 --- Mean-Variance Analysis and Fama-French Three- Factor Risk-adjusted Performance of Tourism Stocks in the U.S. (From 1990 to 2000) --- p.17 / Chapter 2.3.1 --- The Comparison between Tourism Stocks and Market Portfolio in the U.S --- p.18 / Chapter 2.3.2 --- Fama-French Three-factor Regression and Risk-adjusted Performance --- p.22 / Chapter 2.3.3 --- Explanations of High Systematic Risk and undervalued performance in Tourism Industry and Tourism Stocks --- p.27 / Chapter CHAPTER3: --- LITERATURE REVIEW --- p.31 / Chapter 3.1 --- Anomalies in average stock returns and Fama- French three-factor model --- p.31 / Chapter 3.2 --- Explanations for predictability of stock returnsin different horizons --- p.34 / Chapter 3.3 --- "Literature related to past trading volume, past earnings data, firm size, and industry effect" --- p.40 / Chapter CHAPTER 4: --- MOTIVATIONS AND RESEARCH QUESTIONS --- p.44 / Chapter 4.1 --- Motivations --- p.44 / Chapter 4.2 --- Research Questions --- p.48 / Chapter 4.3 --- Hypotheses --- p.51 / Chapter CHAPTER 5: --- RESEARCH METHODOLOGY AND RESULTS --- p.57 / Chapter 5.1 --- Research Methodology --- p.57 / Chapter 5.1.1 --- Samples and Data Selection --- p.57 / Chapter 5.1.2 --- Research Design --- p.58 / Chapter 5.1.3 --- Summary Statistics of Price and Earning Strategies --- p.62 / Chapter 5.2 --- Results for Short-term Price Contrarian Strategies --- p.65 / Chapter 5.2.1 --- Price Contrarian Strategies for Tourism Portfolio and Market Portfolio --- p.66 / Chapter 5.2.2 --- Volume-Based Price Contrarian Strategy for Tourism Portfolio and Market Portfolio --- p.68 / Chapter 5.2.3 --- Size-Based Price Contrarian Strategy for Tourism Portfolio and Market Portfolio --- p.72 / Chapter 5.2.5 --- Lead-lag Hypothesis --- p.78 / Chapter 5.2.6 --- Section Summary --- p.85 / Chapter 5.3 --- Results for Intermediate- and Long-term Price Momentum and Contrarian Strategies --- p.87 / Chapter 5.3.1 --- Basic Price and Earning Momentum Strategies for Tourism Portfolio and Market Portfolio --- p.89 / Chapter A. --- Price Momentum and Overreaction Hypothesis --- p.89 / Chapter B. --- Earning Momentum and underreaction hypothesis --- p.96 / Chapter C. --- Subsection summary --- p.100 / Chapter 5.3.2 --- Volume-Based Price and Earning Momentum Strategies for Tourism Portfolio and Market Portfolio --- p.105 / Chapter A. --- Volume-Based Price Momentum --- p.105 / Chapter B. --- Volume-Based Earning Momentum --- p.111 / Chapter C. --- Subsection summary --- p.115 / Chapter 5.3.3 --- Size-Based Price and Earning Momentum Strategy for Tourism Portfolio and Market Portfolio --- p.116 / Chapter A. --- Size-Based Price Momentum --- p.116 / Chapter B. --- Size-Based Earning Momentum --- p.121 / Chapter C. --- Subsection summary --- p.125 / Chapter 5.3.4 --- Returns of Risk-Adjusted Momentum Strategies for Tourism Portfolio --- p.127 / Chapter 5.3.5 --- Section Summary --- p.130 / Chapter CHAPTER 6: --- CONCLUSIONS --- p.133 / Chapter A. --- Main Results and Discussions --- p.133 / Chapter B. --- Contributions and Suggestions --- p.143 / Chapter C. --- Limitations and Future Research --- p.146 / REFERENCES --- p.148 / APPENDIX --- p.153 / Appendix 1： Tourism Industry SIC Code Description --- p.153 / Appendix 2： Tourism Stock Sample List --- p.156

A pesquisa realizada teve por objetivo a análise das ações desenvolvidas pelo Santuário Nacional de Nossa Senhora Aparecida, e suas contribuições para o aumento do fluxo de visitantes e o desenvolvimento do Turismo Religioso. Seu desenvolvimento foi viabilizado por pesquisas realizadas em fontes bibliográficas e eletrônicas dos temas vinculados ao objeto. Pesquisas as fontes primárias nos arquivos do Centro de Documentação e Memória do Santuário Nacional. Visitas técnicas ao atrativo para observação direta. Entrevistas com o Reitor, principal responsável, do Santuário e com os gestores das áreas de marketing e serviços. O resultado alcançado foi a composição de um amplo quadro das ações do Santuário Nacional. Constatou-se que tais ações contribuem para manutenção da atratividade, ampliam a estrutura de receptivo, promovem uma adequação do produto a demanda e conseqüentemente contribuem para o desenvolvimento do Turismo religioso. / This thesis had as an objective the analysis of activities and actions developed by National Sanctuary of Nossa Senhora Aparecida, and its contributions to the increase the flow of visitors and the Religious Tourism development. Its development was viable trough research conducted in bibliographical and electronic sources of the themes linked to the object. Researches to the primary sources in the archives of the Documentation and Memory Center of the National Sanctuary. Technical visits to the attraction for direct observation. Interviews with the Dean, main responsible, of the Sanctuary and with managers of the marketing and service departments. The achieved result was the composition of a wide action board of the National Sanctuary. It has been established that such actions contribute for maintaining the attractiveness, widening the receptive structure, promoting the fitting of the product and its demand and consequently contributing for the development of Religious Tourism.

This thesis, utilizing data obtained through the author's working experience and on extensive academic investigation, aims to establish and analyze the locational deficiency of some 100 foreign tourist hotels in Beijing and its origin. To do so, an optimal hotel location is first determined by analysis of social, economic, cultural and environmental features of Beijing in relation to the tourism industry.

The purpose of this thesis research was to examine the dynamic relationship between climate change and tourism, with a direct focus on Churchill, Manitoba’s polar bear viewing industry. This unique tourism industry and the polar bears it depends on, are experiencing the negative effects of climate change due to warmer temperatures and melting sea ice, which significantly impacts the health, appearance, and prevalence of polar bears on display for tourists. Not only is this tourism industry affected by climate change, it also contributes to the ongoing changes of climatic conditions. This is due to the dependence of fossil fuel energy used for transportation, accommodation, and activities which directly contributes to the release of greenhouse gas emissions and thus to global climate change. Emissions from tourism has increased by 3% over the last 10 years, largely as a result of the accessibility and affordability of air travel, the most energy intensive form of transportation (Lenzen et al., 2018; UNWTO-UNEP-WMO, 2008). It has been suggested that in response to the increase in the demand to travel, the tourism industry should take a leadership role to reduce their total greenhouse gas emissions in an effort to decrease the impact of climate change. In this study, a visitor survey was conducted during four weeks of Churchill’s 2018 polar bear viewing season (October 16 to November 16). The aim of the survey was to: 1) estimate greenhouse gas emissions from polar bear viewing tourists and the polar bear viewing industry; 2) identify tourists’ awareness of the impacts of climate change (to and from tourism activities); 3) understand tourist’s climate-related travel motivations, and 4) identify tourists’ opinions on climate change mitigation strategies. Visitor surveys were hand- distributed at the Churchill Northern Studies Centre and at the Churchill Airport to tourists who had participated on a polar bear viewing tour. Surveys were analyzed and compared with the results from similar studies (Dawson et al., 2010 and Groulx, 2015) to identify the changing trends in greenhouse gas emissions, travel motivations, tourists’ knowledge of climate change, and acceptance of climate change mitigation strategies. Similar to trends observed 10 years ago, emissions from polar bear viewing tourists are 3-34 times higher than the average global tourist experience. Tourists’ awareness about climate change has stayed relatively consistent, despite the topic of climate change having received increased attention globally. Tourists recognize that climate change is happening and that it is human induced however, there is still a lack of understanding of how air travel is a contributor to climatic change. Although briefly mentioned in some participant’s responses, the main motivation was not to see a polar bear before it disappeared from the wild. The majority of tourists identified they were traveling to Churchill simply for the opportunity to see a polar bear. Additional motivators were photography, the Northern Lights, and for the opportunity to see other Arctic animals. The climate change mitigation strategies that tourists believed to be the most effective to reduce emissions were educational programs and transportation alternatives (such as taking the train- which was not an option at the time of study due to a rail line shutdown). This research contributes to the existing knowledge about tourism and climate change and provides a current analysis of Churchill’s polar bear viewing industry, enabling a comparison between findings from another study conducted over ten years ago. This research also makes conclusions about climate change mitigation strategies that might be effective for Churchill’s tourism industry to reduce their impact on the environment.

Despite the rapid growth in the provision of tourism higher education in the past 40 years, uncertainties remain about the content and nature of tourism degrees and how these are aligned with the needs of the tourism industry. Some research has been done on tourism higher education curriculum design, but the extent to which tourism higher education meets industry needs has not yet been closely investigated. This study aims to ascertain whether a gap exists between what education institutions provide in their undergraduate curricula in the way of tourism knowledge and skills sets, and what knowledge and skills sets are required by the tourism industry. A conceptual framework was developed to outline the research process, which involved two steps. First, content analysis of tourism curricula was conducted as the preliminary research. A list of 34 subject areas was synthesised from all core subjects offered in tourism courses in a sample of Australian universities according to subjects? titles, themes and detailed descriptions. A list of 27 skills and abilities was identified by collating university generic skills and tourism discipline attributes from these institutions. Based on the study of tourism curricula, two web-based surveys were then designed and distributed in order to investigate the respective perceptions of industry professionals and academic providers on the subjects and skills sets necessary for tourism employment. In analysing the data, perceptions about the subjects and skills sets were compared between tourism industry professionals and academic providers. Importance- performance analysis, gap analysis, and SPSS statistical tools were applied to analyse this data. The study found considerable variance between the views of industry professionals and academic providers in Australia. Their views vary firstly on the relative value of tertiary degrees for tourism professionals; secondly, on the relative merits of skills and abilities needed to work in the tourism sector; and thirdly, on the relative merits of various subjects taught at university. These findings establish the existence of a gap between the existing tourism curriculum at university level, and the needs of the tourism industry. The findings of this study also provide evidence to suggest that tourism higher education provision should not be isolated from real practice and that those involved in curriculum design should work closely with industry representatives to ensure a strong connection between theory and practice, thus improving the likelihood that graduates of tourism higher education courses will graduate with knowledge and skills sets which are closely aligned with the needs and expectations of the tourism industry

Since the 1970s there has been a growing interest in Indigenous cultures globally. In Australia, the recognition that Aboriginal art and culture represents a distinct component of Australian identity has resulted in increased promotion of Aboriginal cultures and heritage sites as unique tourist attractions, mainly since the 1990s. Research indicates that there is a significant international interest in Australian Indigenous cultures. In particular, it has been suggested that tourists want to experience ‘real’ Aboriginal culture and that they desire ‘authentic and genuine’ Aboriginal cultural experiences. Despite the fact that the concept of authenticity remains important to the different stakeholder groups of Aboriginal tourism, including tourists, tour operators and promoters as well as State/Territorial Governments, limited understanding exists as to what ‘authentic’ Aboriginal culture and, in particular, ‘authentic’ Aboriginal tourism experiences constitute in the minds of these stakeholders. Whilst an abundance of research exists that has addressed the issue of authenticity in different tourism settings, the majority of studies have treated the concept of authenticity as something given and have used quantitative tools to analyse the authentic-inauthentic binary. However, research utilising such methods has failed to uncover the different perspectives and meanings respondents may hold of the notion of authenticity. Notably, the perceptions of authenticity in Indigenous tourism have received little attention. The few existing studies on authenticity in Indigenous tourism settings have given emphasis to differing agendas, and have therefore provided only a piecemeal understanding of how authenticity is perceived and interpreted by the different stakeholders of Indigenous tourism. More importantly, research on Aboriginal hosts’ perceptions of authenticity is virtually non-existent. Yet, clarification of how tourists and hosts perceive authenticity in Aboriginal tourism is essential when addressing issues of accreditation and branding as well as key marketing objectives that aim to promote ‘authentic’ Aboriginal tourism experiences. This study seeks to address the gaps within the tourism literature surrounding authenticity in Aboriginal tourism. The aim is to understand the concept of authenticity in Aboriginal tourism from a stakeholder perspective. The study is guided by two main research questions: What are the perceptions of authenticity of tourists as well as tour providers and their employees? and Are theoretical perspectives of the notion of authenticity shared by those stakeholders? More specifically, this study investigated five important issues: 1) tourists’ perceptions of authenticity at three different Aboriginal cultural tours; 2) the perceptions of three Aboriginal cultural tour operators and their employees in regard to authenticity; 3) whether there were any discrepancies and/or similarities between the perceptions of tour operators/employees and tourists about what constitutes an authentic Aboriginal tourism experience; 4) whether any of the different theoretical perspectives of authenticity were shared by tourists and tour operators/employees; and 5) whether a conceptual framework could be developed that provides an overview of salient elements explaining the formation of perceptions of authenticity within Aboriginal cultural tourism experiences. In order to examine the research questions a qualitative research methodology grounded in the constructivist paradigm was adopted. This paradigm was chosen as it reflects the exploratory nature of the research and allows for flexibility throughout the research process. This study utilised qualitative in-depth semi-structured interviews as the primary data collection method together with participant observation. Data was collected from 92 interviews, consisting of 72 tourists and 20 employees, within three Aboriginal cultural tour companies in the Northern Territory. The three different Aboriginal cultural tours chosen for the purpose of this study were: Tiwi Tours at Bathurst Island, Manyallaluk Aboriginal Cultural Tours near Katherine and Anangu Tours at the Uluru-Kata-Tjuta National Park. The results of this research revealed that respondents hold multiple constructions of the notion of authenticity. In general, however, most respondents associated an authentic Aboriginal cultural tour experience with a genuine experience which does not feel contrived, staged or ‘plastic’. In particular, the study found that respondents’ perceptions of authenticity can be grouped into four elements. The first element consisted of the background and role of the Aboriginal tour guide, which was found to be a major factor influencing respondents’ perceptions on whether the tour was offering an authentic experience. The second element is characterised by the tourists’ search for ‘real’ and ‘genuine’ Aboriginal people. Here, respondents equated authenticity with the opportunity to visit a ‘real’ Aboriginal working community and to be able to experience Aboriginal people in an everyday setting. Respondents were found to hold preconceived notions and images in their minds as to who ‘real’ Aboriginal people are and what their ‘authentic’ lifestyle should involve. In addition, the majority of respondents defined authentic Aboriginal culture as the contemporary culture of Aboriginal people. Consequently, an authentic Aboriginal cultural tour experience was conceived in terms of gaining an insight into the contemporary lifestyle of Aboriginal people. The third element that contributed to the experience of authenticity is associated with having the opportunity to see and/or purchase authentic Aboriginal arts and crafts. Respondents perceived a product as authentic if it conformed to specific criteria, such as reflecting uniqueness and originality and being handmade by a local artist. Verification of authenticity was also generated by the shopping experience itself, for example meeting the artist and watching how the craft is produced. Finally, the fourth element in the construction of authenticity is related to tourists’ perceptions of the dance performance. Some respondents recognised this as a contrived experience that lacked ‘traditional’ authenticity, while some respondents wanted to see an authentically contrived or staged cultural performance as this was regarded as an occasion for entertainment and enjoyment. Furthermore, the findings of this study suggested that respondents generally referred to the authenticity of toured objects (object authenticity) when describing their perceptions of an authentic experience. The majority of tourists and employees employed a constructivist approach within their conceptualisation of the notion of authenticity. Only a small number of tourists appeared to hold attitudes similar to the objectivist and postmodern perspectives. / Doctor of Philosophy (PhD)

Tourism is promoted by the governments of many developing countries because it offers the potential for creating jobs, thus generating income for the country and revenue for the government. However, the tourism industry can also be viewed as a destructive force, associated with negative externalities such as the loss of natural landscapes, congestion, and environmental and cultural degradation. These problems are more likely to be exacerbated where there is a lack of well-designed planning and effective management of tourism development. An essential component of any management of tourism is the ability to engage with, and get a positive response from, the tourism industry. There are a wide range of enterprises involved in providing tourist products and experiences, and in many nations, both developing and developed, a large number of these businesses are small and medium in size and tend to operate at a local scale. The informal nature of tourism enterprises in the developing world can make it difficult to spread awareness of tourism policy and to measure moves towards more sustainable performance on the part of the industry. Using the case study of tourism in the city of Hue, this thesis argues that it is essential to understand both what tourism enterprises know about sustainable tourism practice and policy and also how they respond to its adoption, if we are to more fully understand tourism and its links to sustainable economic development. Located on the central northern coast of Vietnam, Hue is well known for its cultural resources and natural beauty, and the province has become a major tourism centre in Vietnam. The city of Hue itself is recognized as having international heritage value and was listed as a world cultural heritage site by UNESCO in 1993. During the last decade, tourism revenues have increased by nearly 35% per annum, and Hue has made great efforts to both stimulate and cater for increasing demand for its tourism products and services. The Vietnamese government has introduced a number of policies designed to enhance environmental quality generally and, more specifically, to improve the sustainability of enterprises in the tourism sector. This thesis examines the degree to which tourism enterprises in the city of Hue are aware of the broad concept of sustainable tourism and of the specific legislation designed to influence the sustainability of their businesses. I examine the structure and make-up of the industry and then analyse whether characteristics such as size, ownership type and sectoral focus play a role in influencing awareness of, and response to, government policy. The research triangulates data-gathering methods: secondary data, literature reviews, semi-structured interviews and an enterprise survey are all used to gain insights into the core research questions. Each method feeds into and is strengthened by the others, and their combination (including 50 interviews and 180 survey responses) provides a robust data set to work from. The findings reveal that many of the firms operating in the Hue tourism industry are characterized by weak institutional practices, low financial capacity, poor facilities and a lack of broader awareness of policies that influence sustainable tourism practice. The tourism industry’s awareness of general sustainable development issues is low, and much business practice focuses on short-term rather than long-term perspectives. This limits the use of environmentally friendly practices by firms, especially small- and medium-scale enterprises (SMEs), in their daily business activities. The study reveals that there is no significant variation in the adoption of sustainable tourism practices according to the size of enterprises, especially if the practices in question are simple and can be introduced with cost savings. However, as the cost and complexity of introducing environmental measures increases, we see a greater ability on the part of larger enterprises to adopt such actions – partly because they are in a stronger position to bear the short-terms costs of implementing such approaches. There are a wide range of factors that constrain the Hue tourism industry from adopting more sustainable tourism practices. Internal constraints such as limited financial and human resources are combined with external constraints such as increasing cost-based competition, the lack of enforcement of government policies, and limited awareness of sustainable tourism pracitces. All of these factors play a crucial role in shaping the actions of enterprises in relation to sustainable tourism practices and policies. The results of this study also point to the fact that government sustainable tourism initiatives that rely on ‘command-and-control’ approaches will have limited effect; instead, a variety of institutional economic instruments offer greater potential to overcome deficiencies in the ability of the market to drive tourism enterprises towards more sustainable business practices. The thesis also argues that it is important to develop approaches that can cope with the special challenges attached to management of sustainable tourism development in destinations that are dominated by SMEs. The thesis contributes to the growing body of theory and literature in sustainable tourism development and tourism-enterprise behaviour. It also makes an important contribution to our understanding of tourism enterprises in the developing world. In particular, the findings add an important layer of understanding to those attempting to develop a more sustainable tourism industry in Vietnam. Specifically, it provides policy-makers with important insights into the ways in which different types of tourism enterprises respond to initiatives that relate to improved business sustainability.

People are fascinated with death and disaster. One simply has to watch traffic slow to a crawl when passing a car accident to understand this. However, this fascination goes beyond the side of a highway and enters the realm of tourism. Today, numerous sites of death and disaster attract millions of visitors from all around the world: Auschwitz-Birkenau, Anne Frank's House, Graceland, Oklahoma City, Gettysburg, Vimy Ridge, the Somme, Arlington National Cemetery. The list grows each year as exhibited by the recent creation of an apartheid museum in Johannesburg, South Africa. Due to the increasing popularity of this tourism product, a small number of academics have begun studying the phenomenon. Leading the field are Lennon and Foley who labeled it Dark Tourism, Seaton who coined the term Thanatourism, and Rojek who developed the concept of Black Spots. However, despite ongoing study, there has been a paucity in understanding what actually motivates individuals to sites of dark tourism. Yet understanding motivation is imperative, particularly given the subject and sensitivity of these sites. Some are slowly decaying, and visitors play a large role in their preservation. Subsequently, without proper management, visitor influxes can further deteriorate sites or induce friction with the locals. Knowledge then, also provides administrators the necessary tools to properly manage the varying stakeholders. Although many feel an interest in death and disaster simply stems from morbidity, the range of factors involved extend from an interest in history and heritage to education to remembrance. To begin this study, a list of possible motivations was compiled. Then, to get a better comprehension of these motivations, visitors to the Holocaust Museum Houston were surveyed as a case study. As a commodified, synthetic site of death and atrocity, the museum fits the definitions of a dark tourism site as established by lead academics. Therefore, by asking visitors to the museum what motivated them to the site, the results will hopefully give some acumen into the wants and needs of certain stakeholders. Finally, this research sought to discover if motivation at the museum could shed light on motivation to other sites of dark tourism.

<p><strong>Abstract</strong></p><p>A tourism genre that has developed in recent years is the nautical tourism, nautical tourism is described as a tourism genre that includes all activities in relation to water. Croatia is one country that has invested in and has good presumption for this type of tourism, and has also received an international recognition as a top destination within the nautical tourism genre. The purpose with this thesis is to increase knowledge about the nautical tourism development in Croatia, and to see if it would be possible to develop on Swedish conditions. Sweden is a destination with a large number of archipelagos, located in both inland lakes and along coastal areas. Stockholm archipelago is one of the world's largest archipelagos which has a long tradition as a tourist destination. Literature studies and a number of interviews with actors in the Croatian and the Swedish tourism industry have been made to enable this thesis. Based on this study, we have seen an increase of nautical activities in Croatia which has had positive impact on the country´s tourism industry and their citizen. When it comes to Sweden the study has shown that development of nautical tourism is possible, but in a smaller volume than in Croatia. Partly because of the short summer season and the image that is created around Stockholm archipelago.</p>

Abstract Lamu Island on the Kenyan coast is the home of a society with a thousand year history of contacts with other cultures through trade and shipping.  The loss of its traditional socio-economic base has led to the entry of tourism as the main income generating activity and the major contact with distant peoples. Tourism in Lamu is based on the old heritage in combination with a rich but sensitive tropical landscape.  One concern is how to develop tourism and at the same time preserve a certain set of landscape values. The thesis is based on observations and interviews with the host community in Lamu, focusing on how the local community conceptualize and adjust to the transformations in their envisaged and experienced landscape as a result of their involvement in tourism. Modern tourism ought to be closely linked to development in all respects and could be regarded as an important part of an open society which gives possibilities for interaction between people from different backgrounds. This investigation focus on the socio-cultural dimensions of sustainability and deals with the residents’ adaption to the new opportunities. The analysis show that the meeting with tourism gives certain effects in the social land-scape such as the accentuation of differences already existing in the society, the evolvement of a new moral landscape and the highlighting of the need of strategies to achieve sustainable development.