Tourism Sub-sectors Research Articles

Medical Tourism in the Turkish Republic of Northern Cyprus: Strategies for Improvement

“Right to health” is a fundamental human right and it is protected by international laws, also it turns over to states in three areas. Quality health care, affordability and the availability of necessary facilities and equipment’s form part of the reasons why individuals in need of these services migrate to countries that fortunately have upgraded facilities ready to serve the needs of patients worldwide. The purpose of this study is to examine the perceptions of health practitioners, tourist agents (travel agents) and hotel managers, to determine if they are aware of the present condition of medical tourism in North Cyprus, and to discover the most sought-after procedure in the country. Thereafter the status of the most sought-after procedure was analyzed and strategies for improving this sub-sector alongside medical tourism were proposed. The study aims to provide insight for stakeholders, administrators and public officials in designing their strategies for improving this sub-sector of tourism, and to highlight the contribution of medical tourism to the development of the Turkish Republic of North Cyprus. The study is based on surveys given to participants selected by a snowball sampling and convenience sampling technique. Collected data were analyzed using basic coding methods of qualitative analysis. Results from the first part of the study revealed that the most sought-after medical procedures in TRNC were invitro fertilization treatments, and in the latter part of the study, the push-pull motivators and status quo of this sector were determined.

ANALISIS PENGARUH PANDEMI COVID – 19 TERHADAP FINANCIAL DISTRESS PERUSAHAAN JASA DENGAN METODE ALTMAN Z-SCORE ( Studi Empiris Pada Perusahaan Perhotelan Restoran, Dan Pariwisata Yang Terdaftar Di Bursa Efek Indonesia Periode 2018 – 2021)

This study focuses on how the impact of the COVID-19 pandemic on service companies (empirical studies on hotel, restaurant and tourism companies listed on the Indonesia Stock Exchange (IDX) for the 2018-2021 period. The method used is the altman zscore analysis method, by analyzing the company's financial statements The population in this study is all service and hospitality companies that have Initial Public Offering (IPO) on the Indonesia Stock Exchange at least since 2018 and below, with a sample of 20 service companies in the hotel, restaurant and tourism subsector. hotel, restaurant and tourism sub-sector services.

Offshoring and reshoring of services in tourism: a round trip

Coinciding with the onset of the economic crisis in 2007, a reshoring process, consisting in the return to the home country of part or all of the activities previously offshored abroad can be observed in all advanced economies. This study aims to analyse for first time whether this strategy has affected the tourism sector. The results show that between 2007 and 2010 a major reshoring process took place in the tourism sub-sectors, while in 2015, the levels of offshoring recovered slightly but did not compensate the previous strong decline. This reshoring strategy in tourism has basically been carried out through a replacement of foreign suppliers with national suppliers.

Early Warning Sistem Perusahaan Era Pandemi Covid-19

To break the chain of spread of the Covid-19 virus, the Government implemented a policy of restricting people's movements. The fact that occurred due to restrictions on community activities, the wheels of the economy were disrupted, even some business activities were closed. The formulation of the research problem, how are the results of the analysis of the Springate, Altman, Grover and Zmijewski Bankruptcy prediction models in the Covid-19 pandemic era. The purpose of the study was to empirically test the springate, altman, grover and zmijewski bankruptcy prediction models in companies during the covid-19 pandemic era. The research subjects are companies listed on the Indonesia stock exchange for the hotel, restaurant and tourism sub-sector in 2020. The results of the springate model test (s-score) show that 25 companies are predicted to have the potential to go bankrupt, 3 companies are predicted to be healthy. Altman model (Z-Score) shows that 16 companies are predicted to have the potential to go bankrupt, 4 companies experience a slight potential for bankruptcy and 4 companies are healthy. The grover model (G-Score) shows that 6 companies are predicted to have the potential to go bankrupt, 22 companies are healthy. The zmijewski model (X-Score) shows that 1 company is predicted to have the potential to go bankrupt, 27 companies are predicted to be healthy. The four models that show the same results for companies that are predicted to be healthy are PT. Asia Sejahtera Mina, Tbk with the issuer code AGAR.

PENGARUH CURRENT RATIO DAN TOTAL ASSET TURNOVER TERHADAP GROSS PROFIT MARGIN SELAMA PANDEMI COVID-19 PADA PERUSAHAAN SUB SEKTOR HOTEL, RESTORAN DAN PARIWISATA

This study aims to determine the effect of the Current Ratio and Total Asset Turnover on Gross Profit Margin during the COVID-19 pandemic. The variables used in this research are Current Ratio, Total Asset Turnover and Gross Profit Margin. This research was conducted on hotels, restaurants and tourism sub-sector companies listed on the IDX during April 2020-September 2021. The method used is quantitative, with an associative approach, the measurement scale is the ratio scale. The sampling technique used was purposive sampling and the data collection technique was the secondary data source. The results of the Current Ratio test have a significant effect on Gross Profit Margin with a significance of 0.001 < 0.05 and tcount > ttable (3.373 > 1.991). Total Asset Turnover has a significant effect on Gross Profit Margin with a significance of 0.042 <0.05 and tcount > ttable (2,071 > 1,991). And Current Ratio and Total Asset Turnover have a significant effect on Gross Profit Margin with a significance of 0.003 < 0.05 and Fcount > Ftable (6.456> 3.115). The contribution of the variable current ratio and total asset turnover to the gross profit margin is 14.4%

Analisis Kebijakan Manajemen Transportasi Pemerintah Pada Pertumbuhan Ekonomi Pariwisata Jawa Timur

East Java Province has great tourism potential with tourism-based development that can provide economic growth for East Java Province. It is as an effort to maintain the existence of tourism development and government transportation policies through various tourist destinations and complete new infrastructure. With the rapid development of tourism, the tourism sub-sector makes a major contribution to local government revenues. So, the purpose of this study is to determine the results of the analysis of tourism policy and transportation policy. In the identification, it was found that the transportation variable plays a major role in tourism growth which also affects the economic growth of the surrounding community and the region so that the poverty rate decreases. The results of the study show that of the 13 selected variables have a significant influence on the value of supporting factors for tourism transportation policies, this reflects that among the variables proposed as the role of the government to facilitate the implementation of good tourism for tourism development and government policies, and the results turned out to have an effect on the management of tourist destinations in the implementation of tourism in East Java. Thus, the results of the median and std deviation are fully supported.

EFFECT OF DEBT RATIO, LONG-TERM DEBT TO EQUITY, AND FIRM SIZE ON PROFITABILITY

This study aims to determine and analyze the effect of the debt ratio, long-term debt to equity, and firm size on profitability measured by Return on Equity (ROE). The object of this research is the Hotel and Tourism Sub-Sector Companies listed in IDX in 2015-2020. The financial ratios used in this study as independent variables are debt ratio, long-term debt to equity, and firm size. The data used is annual data, based on annual financial reports, starting from 2015 to 2020. The data used in this study is the panel data method with the help of Eviews 9 software. The result of this research is that long-term debt has a positive effect on profitability. Meanwhile, debt ratio and firm size hurt ROE and simultaneously have a significant effect on ROE. However, only long-term debt and debt ratio partially have a significant effect on ROE, while firm size does not significantly affect the ROE.

Working Capital Strategy on Profitability before and During the Covid-19 Pandemic in the Indonesia Stock Exchange

The purpose of this study was to determine the effect of working capital strategy on profitability before and during the Covid-19 pandemic on the Indonesia Stock Exchange. The population used in this study is the restaurant, hotel & tourism sub-sector companies; pharmaceutical sub-sector; as well as the telecommunications sub-sector listed on the Indonesia Stock Exchange which was conducted in the 2nd quarter of 2018 to the 3rd quarter of 2021 (14 periods). With a total sample of 22 companies. The sampling technique was carried out using purposive sampling method. This study uses secondary data in the form of financial statements obtained from the official website of the Indonesia Stock Exchangewww.idx.co.id. The data analysis technique in this study used multiple linear regression analysis with dummy variables. By calculating descriptive statistics, multiple linear regression test, multicollinearity test, autocorrelation test, heteroscedasticity test, model fit test, regression coefficient test, and different test. The results showed that CCC, WCIA, WCFA, and Dummy together had a significant effect on ROA. CCC has no and no significant effect on ROA, WCIA and WCFA partially have a significant effect on ROA, Dummy has a negative and significant effect on ROA. And WCIA has a parallel different influence on ROA before and during the Covid-19 pandemic, WCFA has an intersecting different influence on ROA before and during the Covid-19 pandemic.

Learning by doing:

Having a strong affinity and interdependence with a wide range of sectors and industries, tourism is, by nature, an interdisciplinary field. However, despite this realization, there are still different barriers to the development of interdisciplinary research and active collaborative projects within Tourism Higher Education. In addition to these barriers, there is also a disarticulation between tourism curricula and what practitioners perceive as being key skills within the industry. Hence, as the context in which the tourist activity takes place becomes more competitive, resulting in a pressing need for skilled and multifaceted professionals, educational institutions and tourism educators are increasingly being challenged to overcome these barriers and come up with creative projects that can help bridge the gap between academia and the labour market.
 Aiming to describe an interdisciplinary project focusing on soft skills within different tourism subsectors, this paper will draw on a literature review, project outputs and two questionnaires, as to describe its implementation and overall results. Mostly based on students’ perceptions and determining whether they are aligned with the industry’s current demands and expectations, in addition to a general description, it will crosscut different perspectives, analysing the importance attributed to soft skills by students and prospective employers. Deriving from this analysis and the project’s scope, the authors will also put forward a reflection regarding the impact of the project on not only student’s perceptions regarding soft skills, but also on the affordances of the project to develop transversal competences, making a case for other innovative initiatives. As a result, the final section of the paper will include references to lessons learnt and future research directions.

Achieving Sustainable Tourism Through WTO Negotiations

The paper aims to highlight the significance, relevance and importance of sustainable tourism in India through WTO negotiations. The objective of the study is to analyse the impact of international tourism on India before negotiating for further liberalization of trade in services under GATS provision at WTO and to protect domestic tourism sub-sectors in the light of sustainable tourism. The study also finds that sustainable development in tourism, both national and international, can assist India to accelerate its pace of economic growth.

Tourism and Mental Health: Foundations, Frameworks, and Futures

Tourism contributes to mental health. We could: recognize, measure, value, and market those contributions; analyze components and design products to maximize mental health benefits; and use mental health benefits in tourism industry marketing and lobbying. If we measure benefits to health-research standards, then tourism could also gain commercial opportunities within the health sector. Currently, there are widely differing bodies of evidence within different tourism subsectors, reflecting historical research emphases. Music, museums, and shopping malls have been identified as therapeutic for some. Nature tourism therapies have been tested extensively, with a higher standard of evidence. Adventure tourism has been analyzed principally from a phenomenological perspective, indicating powerful psychological effects. Many mental health therapies require continuing behavioral change. Tourism research could contribute to these therapies, since it includes detailed data on the effects of program design and guiding, and individual personalities, interests, capabilities, motivations, experiences, emotions, and satisfaction.

Modelling the demand for educational tourism: do dynamic effect, university quality and competitor countries play a role?

PurposeThis study aims to develop an educational tourism demand model, particularly in respect to dynamic effects, university quality (QU) and competitor countries. Educational tourism has been identified as a new tourism sub-sector with high potential, and is thus expected to boost economic growth and sustainability.Design/methodology/approachThis study reviews the literature on the determinants of educational tourism demand. Even though the existing literature is intensively discussed, mostly focusing on the educational tourism demand from an individual consumer's perspective, this study makes an innovation in line with the aggregate demand view. The study uses data that consist of the enrolment of international students from 47 home countries who studied in Malaysia from 2008 to 2017. The study utilised the dynamic panel method of analysis.FindingsThis study affirms that income per capita, educational tourism price, price of competitor countries and quality of universities based on accredited programmes and world university ranking are the determinants of educational tourism demand in both the short and the long term. Also, a dynamic effect exists in educational tourism demand.Research limitations/implicationsThe results imply that government should take the quality of services for existing students, price decisions and QU into account to promote the country as a tertiary education hub and achieve sustainable development.Originality/valueResearch on the determinants of the demand for educational tourism is rare in terms of macro data, and this study includes the roles of QU, competitor countries and dynamic effects.

AGENCY PROBLEM ANALYSIS FROM COMMITTEE AND OWNERSHIP STRUCTURES

This study aims to determine the factors that influence the agency problem. A sample of 14 restaurant, hotel, and tourism sub-sector companies listed on the Indonesia Stock Exchange during the 2010–2019 period with a total of 140 observations was used as the unit of analysis. The method used is descriptive and verified with panel data regression analysis. The results showed that the audit committee and independent commissioners had a positive and significant effect on agency problems, while managerial ownership and institutional ownership had a negative and significant effect on agency problems.

Reaksi Investor Pada Saham Perusahaan Sub Sektor Perhotelan, Restoran Dan Pariwisata Pada Masa Pandemi Covid

Covid Pandemic has multidimensional effect to economic activity. It affects investor reaction to the prospect of industrial sector in Indonesia. The objective of this study aims to study the investor reaction during Covid pandemic on the shares of hospitality industry, restaurant, and tourism subsector The population of this research is hospitality industry, restaurant, and tourism subsector on the BEI with purposive sampling as its technique. The proxy of investor reaction is Average Trading Volume Activity in monthly basis. This study compares two period of reaction, 7 months before Pandemic and 7 months during Covid Pandemc. The data were analyzed using paired t test. The results showed that there was no difference between before and during Covid Pandemic. Investors are still positive on the prospect of hospitality industry, restaurant, and tourism subsector. It implies on a need of a supportive policy from government to keep the investor’s trust, such as issuing tax amnesty for those industry.

The contagion effect of COVID-19-induced uncertainty on US tourism sector: Evidence from time-varying granger causality test

This study investigates the effect of COVID-19-induced uncertainty on the overall stock market and the stock performance of the tourism and hospitality industry and its subsectors utilizing a novel time-varying robust Granger causality test. The results show that the COVID-19 pandemic–induced uncertainty has an adverse impact on the overall economy, tourism and hospitality industry, and subsectors of tourism and hospitality. However, the impact of COVID-19 pandemic–induced uncertainty is more significant in the tourism and hospitality industry and its subsectors. In particular, hotels sector has experienced the largest impact from the COVID-19 pandemic, followed by restaurants and airline sectors, respectively. Research and practical implications are discussed. JEL Classification: C1, C5, F2, G11, G17, G41

Pengaruh Ukuran Perusahaan, Profitabilitas, Leverage dan Opini Auditor Terhadap Audit Report Lag Pada Perusahaan Sub Sektor Hotel, Restoran, dan Pariwisata Yang Terdaftar di Bursa Efek Indonesia Tahun 2017 – 2020

Hotel, restaurant, and tourism sub-sector based on the conditions that occur. Reporting from one of the news sources found, it has provided information that since the beginning of the Covid-19 outbreak in Indonesia, the hotel, restaurant and tourism sub-sector was one of the most affected sub-sectors with losses reaching Rp. 85.5 trillion. This study aims to determine the effect of firm size, profitability, leverage, and auditor's opinion on Audit Report Lag in hotel, restaurant, and tourism sub-sector companies listed on the Indonesia Stock Exchange in 2017 – 2020. This study uses a quantitative approach research method, the number of samples used in this study as many as 13 companies using purposive sampling technique. The results show that (1) company size partially has no effect on Audit Report Lag, indicating that the size of the company's size does not affect the duration of the process of preparing audit financial statements, (2) profitability partially has a negative and significant effect on Audit Report Lag. indicates that companies getting large profits will be faster in the process of preparing audited financial statements so as to reduce Audit Report Lag, (3) partial leverage has a positive and significant effect on Audit Report Lag indicating that companies that have high levels of debt then the risk of the company will large and this affects the process of completing the audit financial statements so that the process will take longer, and (4) the auditor's opinion partially has no effect on the Audit Report Lag indicating a company that received an unqualified opinion. Qualified opinion or opinion other than unqualified opinion does not affect the process of preparing the audited report.

Konceptualizacja ogólnego modelu turystyki gastronomicznej w odniesieniu do rozwoju oraz rozwoju turystyki

Gastronomic tourism is an increasingly relevant tourism subsector. For many travelers, food is the main reason for choosing a destination. Gastronomic tourism have significant potential to contribute to tourism development as well as overall development. It is, therefore, important to better understand the complex relationship between gastronomic tourism and tourism development – and development in general – so as to be better prepared to exploit such tourism for a destination’s development. This article aims to contribute to the literature on tourism development by demonstrating the role of gastronomy tourism in relation to tourism development and general development issues. In seeking to understand this relationship, this article conceptualizes a general model that illustrates gastronomic tourism’s position in relation to development and tourism development. The article also notes that, based on the proposed model, a destination’s gastronomic tourism strategy should be based on four pivots: collaboration, sustainability, CBT/localization, and the tourist experience. Working together, they offer a solid base to advance sustainable gastronomic tourism development in a destination. The article could assist policy makers to formulate and implement strategies to enhance gastronomic tourism’s contribution in this regard.

The exposure of the US tourism subsector stocks to global volatility and uncertainty factors

ABSTRACT In the face of uncertain circumstances and volatilities across tourism stocks, the current study attempts to investigate the connectedness of US tourism subsectors using time-varying vector autoregressions (TVP-VAR) technique for the period spanning 1 August 2008–31 August 2021. Moreover, we examined the influence of various financial and economic indicators to observe their impact on the connectedness of US tourism subsectors. Further, we employed Diebold and Yilmaz ([2012]. Better to give than to receive: Predictive directional measurement of volatility spillovers. International Journal of Forecasting, 28(1), 57–66) connectedness approach to justify the robustness of our results. We find that hotels, transportation, and recreational are net transmitters of spillovers to the remaining US subsectors. We reported multiple time-varying attributes where the connectedness of US tourism subsectors was remarkably higher. In addition, the regression results reveal a positive and significant impact of financial and economic uncertainties on the connectedness. Finally, our findings were robust to the methodology employed, which substantially justified our estimator. We proposed numerous useful implications for policymakers, US government, tourism industry, investors, market players, and portfolio managers to benefit from the findings obtained.

PENGARUH FINANCIAL DISTRESS DAN LEVERAGE TERHADAP KONSERVATISME AKUNTANSI PADA MASA PANDEMI COVID-19 (STUDI EMPIRIS PADA PERUSAHAAN JASA SUB SEKTOR RESTORAN, HOTEL, DAN PARIWISATA YANG TERDAFTAR DI BURSA EFEK INDONESIA)

The purpose of this study is to analyze the impact of financial distress and leverage on the conservatism of accounting. Samples of this survey are Hotels, Restaurants and Tourism sub-sectors listed on the Indonesian Stock Exchange during the covid-19 period.Using a purposive sampling method, the sample for this study comprised a sample of 32 hotels, restaurants, and tourism subsectors. The explanatory variables used in this study were accounting conservatism, financial distress, leverage, and profitability as control variables. In this study, we test using the Statistical Product and Service Solution (SPSS) analytical tools and data. The analysis in this study uses multiple linear regression analysis. The results of this study show that financial distress does not affect accounting conservatism and leverage does not affect accounting conservatism. Variables of the combination of financial distress and leverage have a significant impact on accounting conservatism.

DAMPAK COVID-19 TERHADAP ABNORMAL RETURN DAN VOLUME PERDAGANGAN SAHAM

The COVID-19 pandemic is a non-natural disaster that has a huge impact around the world. This research is a quantitative research with event study method. The purpose of this research is to test the capital market reaction by looking at abnormal returns and trading volume activity before and after the COVID-19 non-natural disaster. The event day in this study was April 13rd, 2020 when the Presidential Decree was issued regarding the designation of COVID-19 as a national disaster. Using purposive sampling method, the sample of this study were 27 companies engaged in the hotel, restaurant, and tourism sub-sectors listed on the Indonesia Stock Exchange. The event period is 11 days, namely 5 days before the event, 1 day at the time of the event and 5 days after the event. Data analysis using t-test and wilxocon signed ranks test. The results of this study are: 1) there is no abnormal return during the event period, 2) there is no difference in the average abnormal return before and after the COVID-19 non-natural disaster event, 3) there is no difference in the average trading volume activity before and after the COVID-19 non-natural disaster event and after the COVID-19 non-natural disaster event.
 Keywords: Event Study, Abnormal Return, Trading Volume Activity, COVID-19.