Heterogeneity in the determinants of length of stay across middle age and senior age groups in thermal tourism

ABSTRACT

Water has been seen as a healing source of life for centuries. Even the placebo effect of thermal therapies increases consumers’ well-being. Especially with easy traveling options demand for thermal therapies are on the rise. Users of thermal therapies are mostly composed of seniors. Even though age groups in the senior market have heterogeneous needs, managers assume them to be homogenous. Measuring thermal tourism demand by the length of stay, this study analyzed the determinants affecting the length of stay of older thermal tourists. The length of stay is predicted to have been affected by age, purchasing power, physical distance, and seasonal preferences. Even though all of the above have an effect on the length of stay, we find that age is the main determinant deciding the duration. These results may serve as a starting point for policymakers and tourism managers to tailor strategies to increase income streams associated with length of stay.     

Integration of safety management effectiveness into QRA calculations

Quantitative Risk Analysis (QRA) has become an often used method in the process industry for improving safety and for land-use planning. In computing the risk by this methodology the frequency of an accident is often assessed by using generic failure frequencies which are based on historical data of incidents from databases. Little or no adjustment is made for the effectiveness of the safety management of the industrial site. Since most incidents are caused by management problems, QRA has to take into account the local safety management system. Otherwise, the results of QRA will not provide reliable information of the hazards and the corresponding risk from installations. Therefore, today's understanding of safe industrial operations requires an integrated risk assessment under the consideration of technical, organizational, and managerial aspects. This article describes a method which allows assessing the effectiveness of the local safety management system and its integration into the QRA using a single management factor. This method was developed with the aim of providing a tool which would allocate a quantitative measure for the effectiveness of the local Safety Management System for the purpose of using it directly in the QRA. © 2009 American Institute of Chemical Engineers Process Saf Prog, 2009     

An examination of the Fisher Hypothesis: the case of Turkey

This study examines the famous Fisher Hypothesis (FH) for Turkey. FH asserts that nominal interest rates adjust on a one-to-one basis to expected changes in inflation rates. Using the Johansen cointegration method for the Turkish monthly interest rate and inflation rate data, we find that it is possible to determine the long-run relationship—but not the one-to-one basis—between nominal interest rates and inflation. Our findings suggest that full FH does not hold but there is a very powerfull Fisher effect in the case of Turkey from 1990 to 2003.