Tourism product development and the changing consumer demand: A case study of Kenya

Kenya is an important tourist destination in Africa accounting for over 6% of the total international tourist arrivals to the continent. However, in recent years Kenya's tourism industry has been experiencing problems of poor performance and continuing decline in the number of international tourist arrivals. This study examines the main characteristics of the country's tourism product vis‐a‐vis the changing trends in global tourism market demands. It is argued that the underlying cause of the recent poor performance of the tourism industry relates to the nature of the country's tourism product. Over the years, Kenya has been offering a limited tourism product that is based on beach and wildlife tourism. Also, the marketing of Kenya mainly depends on overseas tour operators who mainly sell inclusive tour packages. Thus, the form of tourism product that is offered by Kenya has not responded to the recent changes and trends in international tourism market demands. Post‐modern tourists, particularly tourists from developed countries, are increasing becoming aware of the negative impacts of mass tourism and are increasingly looking for alternative tourism products that provide a deeper and more meaningful experience. Thus, if Kenya is to rejuvenate its tourism industry there is need for the country to provide a diverse alternative tourism product which is more appealing to the post‐modern tourists.     

Sources and uses of equity extracted from homes

In this paper, we present estimates of the disposition of thefree cash generated by home equity extraction to finance consumerspending, outlays for home improvements, debt repayment, acquisitionof assets, and other uses. We estimate free cash as cash availablenet of closing costs and repayment of other mortgage debt. Wehave also extended the quarterly data series for gross equityextraction, presented in our earlier paper (Greenspan and Kennedy,2005), back to 1968.     

Linking Culture and Ethics: A Comparison of Accountants’ Ethical Belief Systems in the Individualism/Collectivism and Power Distance Contexts

This study uses accounting professionals from an international setting to test the individualism and power distance cultural dimensions developed by Hofstede [Culture’s Consequences (Sage Publications, Beverly Hills, CA) 1980]. Six countries, which appropriately represented high and low values on the Hofstede dimensions, were chosen for the survey of ethical beliefs. Respondents (n = 249) from the six countries were requested to supply their agreement/disagreement with eight questionable behaviors associated with the work environment. Each of these behaviors contained an individualism and/or power distance cultural component for the responding accountants to consider. The results of the cultural analysis indicated significance on five of the eight survey items. Results lend support for the presence of the individualism cultural element in the ethical responses of the accountants surveyed.     

A wage curve for Australia?

This paper examines the wage curve in Australia. Regressionsfor weekly earnings are estimated on a pooled cross-sectiondata set for 1982 to 1994/95. Using the preferred regressionspecification it is found that the elasticity of weekly earningswith respect to state-level rates of unemployment is -0.07 to-0.09. These findings are robust to a variety of modificationsto the regression specification. A comparison of Australia,the US and UK is undertaken to examine how differences in wage-settinginstitutions between those countries might affect wage curveestimates.     

Optimal management of a flammable forest providing timber and carbon sequestration benefits: an Australian case study*

In deciding to keep or fell a forest stand given its age, the risk of loss of timber through wildfire is an important consideration. If trees also have value from sequestration of carbon, another effect of fire is the unplanned loss of stored carbon. Factors affecting the decision to keep or fell trees, and how much to spend on fire protection, are investigated using stochastic dynamic programming, using carbon sequestration in stands of mountain ash in Victoria as a case study. The effect of treating sawlogs as a permanent carbon sink after harvesting is explored.