Young Japanese Female Tourists: An In-depth Understanding of a Market Segment

Since the launch of the government's Ten Million Program in 1986, the number of Japanese outbound tourists has steadily increased even during the post-bubble economy period. Many destination countries have recognised the importance of the young female market segment as having a rapid growth rate and high spending power. This article investigates the sociocultural background of the Gal tourist by exploring Japanese values on life and women, sex and sexuality and changing values in the younger generations. Based on the findings, this paper will discuss the significance of the Young Female Japanese tourists as a potential market in the near future, and also importance of understanding the sociocultural background of the target market segment.     

What the Millennial Generation from Around the World Prefers in Their Meetings,Conventions, and Events

The extant research relates to what the Millennial generation prefers in their meetings and events. The focus of this paper is to compare the wants and needs of Millennials from five different continents to ascertain similarities and differences. This is the largest study ever done of Millennials with regard to meetings and events. While some differences were uncovered, it was found that Millennials are a very homogeneous group. Thus, event professionals can use similar strategies when targeting this group. However, it was also found that there were some differences in specific areas and event professionals would do well to ascertain their mix of attendees by national origin and then apply the most significant findings of the research at hand.     

The development of environmental initiatives in tourism: responses from the London hotel sector

In tourism, natural resources and the physical environment are regarded as important assets to enhance the product. Practitioners in this multisectoral industry (including hotels) perceive the environment and its resources to be a crucial feature in attracting more tourists. Today, most sectors of industry face pressure to improve their environmental performance. Hotels as a component of tourism are no exception. Hotels can act to reduce their environmental impacts and, collectively, make a substantial contribution to improving the quality of the environment. A wide range of publications offer guidance and advice on the actions hoteliers may take to alter their practices and thus address environmental issues. Yet, to date, it is not clear how many hotels are applying these recommendations, nor which actions share this common goal. Equally, the lack of operationalisation in environmental principles, implicit within many codes of practice, is seeing the emergence of a gap between theory and practice in these matters. It is the nature of this gap that is explored. Additionally, an assessment is undertaken of what the tourism industry is doing to improve environmental performance, and a case study is presented based on a detailed survey of environmental management practices in 42 London hotels. Copyright © 1999 John Wiley & Sons, Ltd.     

Comparative evolutionary trends in environmental policy: Reflections on tourism development

As tourism is an industry that involves the environment and natural resources, its physical and social impacts have reached a point where they can be no longer neglected. Numerous conferences and conventions have taken place, and the tourism industry has initiated not only intellectual campaigns, but also action programmes. the tourism industry and its “environmentally friendly” movement, however, do not stand on their own; they are often influenced by national environmental policies. In this paper, the current national environmental policies of Britain, Germany, China, Taiwan and Japan are summarised and differences in their respective emphases are highlighted along with the resulting implication for tourism. Copyright © 1999 John Wiley & Sons, Ltd.     

Does human capital or physical capital constrain output in Japanese prefectures?

This paper develops a dynamic–network DEA (data envelopment analysis) model where total output is jointly produced from two sectors: a human capital sector and a physical capital sector. Each prefecture produces a final output and an intermediate product which is used to augment future physical capital. The optimization method allows future production possibilities to be enhanced if some final output in the current period is foregone so that larger amounts of the intermediate product can be produced. The goal is to choose the amounts of final output and intermediate product so as to maximize the size of the production possibility set. The method also allows identification of whether output is constrained by a lack of physical capital, a lack of human capital or a lack of both types of capital. We apply our method to 47 Japanese prefectures during the period 2007–2009. A key finding is that a lack of human capital is constraining potential output.     

A note on dynamic monopoly pricing under consumption externalities

We analyze dynamic monopoly pricing under consumption externalities, focusing on pricing under negative externalities. We also attempt to generalize models in the previous literature, which encompass both negative and positive externalities, by incorporating a consumer’s discount factor for past sales as a parameter. Analyzing our model reveals oscillation as the optimal price path in the presence of negative externalities.     

Intraday seasonality in activities of the foreign exchange markets: Evidence from the electronic broking system

This paper examines intraday patterns of the exchange rate behavior, using the “firm” bid–ask quotes and transactions of USD-JPY and Euro-USD recorded in the electronic broking system of the spot foreign exchange markets. The U-shape of intraday activities (deals and price changes) is confirmed for Tokyo and London participants, but not for New York participants. Activities do not increase toward the end of business hours in the New York market, even on Fridays (ahead of weekend hours of non-trading). Return volatility is found to have intraday patterns similar to those of activities, and volatility and the bid–ask spread is negatively correlated. A negative correlation is observed between the number of deals and the width of bid–ask spread during business hours. It is also found that the concentration of transaction during overlapping business hours between Tokyo and London markets (London and New York markets) may arise from heterogeneous expectations among participants from different regions. J. Japanese Int. Economies 20 (4) (2006) 637–664.     

The Neoclassical Investment Model and a New Conservation Law

q ratio is derived. We also show that, along the quasi-turnpike path, Tobin's marginal q is equal to the maximum value of average q. But along the turnpike path, marginal q becomes equal to the limiting value of average q. Received September 15, 1999; revised version received January 25, 2001