Recently, global financial crisis or meltdown rocked the international financial market. This havoc was the result of the reckless use of financial derivatives that received spontaneous patronization from the financia...Recently, global financial crisis or meltdown rocked the international financial market. This havoc was the result of the reckless use of financial derivatives that received spontaneous patronization from the financial whiz, but it is strange to discover that those proponents of market economy embarked on policy that was purely Keynesian in principle. The episode started in August 2007 with the collapse of subprime mortgage market and reached its climax during August 2008. Central banks in many countries of the western world intervened in the market to pump additional fund to give buoyancy in the credit market. The crisis encapsulated with the queer idea of financial instruments and multiple origins related to subprime mortgage left its trail in both developed and developing countries. Thus, an elaborate analysis of the causal link among various innovative instruments highlighting a mismatch between academic doctrine and real-life perspective and the inadequacy of the institutional arrangements supposed to tame the volatility of the market may be a useful guide to financial analysts and policy planners. The purpose of this paper is to highlight systemic gaps in the meltdown and redefine the contour of macroeconomics most appropriate to weather such catastrophe in the future.展开更多
Kenya＇s tourism business stagnated from 1991 to 2003 and only registered small but steady grew from 2004. One of the sectors that recorded poor performance as a result of the slow growth of tourism is the hotel busin...Kenya＇s tourism business stagnated from 1991 to 2003 and only registered small but steady grew from 2004. One of the sectors that recorded poor performance as a result of the slow growth of tourism is the hotel business. Despite this slack, stakeholders in Kenya have not tried to assess the extent to which the quality of this sector may impact on destination preference. The ultimate purpose of this research was to establish the quality gap between the expected and the perceived hotel product/service quality from both the perspective of the tourists and the hotel operators in Kenya. It was motivated by the need to create parameters that can elavate the competitiveness of Kenya＇s tourism using the hotel product/service quality offer. Descriptive quantitative research design was used to establish the secondary objectives and to assess two propositions set for the study. A sample of 211 tourists and 19 hotel operators in two major tourist provinces of Kenya was used to obtain information regarding normative and perceptive hotel product/service quality. Kenya＇s only destination marketing organisation, Kenya Tourist Board （KTB） marketers were also surveyed to provide insight on Kenya＇s destination position with regard to the motivation of tourists to visit Kenya. The study established that although the attractions which make tourists come to Kenya are the unique wildlife safari, beach tourism and the natural scenery, hotel product quality and hospitality plays a vital role in motivating tourists to choose Kenya as the destination to visit. However, this study found out that while the tourists and hotel operators agree on the normative hotel product quality level, there is a significant gap between the normative quality and the perceptual quality registered by tourists who used hotel services. The study established that hotel operators only recognize quality regulatory institutions with statutory and legal authority to incriminate facilities that do not comply with laid down operational requirements such as Hotels and Restaurants Authority and the Local Authority Public Health Department. The study has proposed an integrated framework that may be utilized to build a superior national hotel product/service quality so that the economic potential of tourism is maximized in Kenya.展开更多
文摘Recently, global financial crisis or meltdown rocked the international financial market. This havoc was the result of the reckless use of financial derivatives that received spontaneous patronization from the financial whiz, but it is strange to discover that those proponents of market economy embarked on policy that was purely Keynesian in principle. The episode started in August 2007 with the collapse of subprime mortgage market and reached its climax during August 2008. Central banks in many countries of the western world intervened in the market to pump additional fund to give buoyancy in the credit market. The crisis encapsulated with the queer idea of financial instruments and multiple origins related to subprime mortgage left its trail in both developed and developing countries. Thus, an elaborate analysis of the causal link among various innovative instruments highlighting a mismatch between academic doctrine and real-life perspective and the inadequacy of the institutional arrangements supposed to tame the volatility of the market may be a useful guide to financial analysts and policy planners. The purpose of this paper is to highlight systemic gaps in the meltdown and redefine the contour of macroeconomics most appropriate to weather such catastrophe in the future.
文摘Kenya＇s tourism business stagnated from 1991 to 2003 and only registered small but steady grew from 2004. One of the sectors that recorded poor performance as a result of the slow growth of tourism is the hotel business. Despite this slack, stakeholders in Kenya have not tried to assess the extent to which the quality of this sector may impact on destination preference. The ultimate purpose of this research was to establish the quality gap between the expected and the perceived hotel product/service quality from both the perspective of the tourists and the hotel operators in Kenya. It was motivated by the need to create parameters that can elavate the competitiveness of Kenya＇s tourism using the hotel product/service quality offer. Descriptive quantitative research design was used to establish the secondary objectives and to assess two propositions set for the study. A sample of 211 tourists and 19 hotel operators in two major tourist provinces of Kenya was used to obtain information regarding normative and perceptive hotel product/service quality. Kenya＇s only destination marketing organisation, Kenya Tourist Board （KTB） marketers were also surveyed to provide insight on Kenya＇s destination position with regard to the motivation of tourists to visit Kenya. The study established that although the attractions which make tourists come to Kenya are the unique wildlife safari, beach tourism and the natural scenery, hotel product quality and hospitality plays a vital role in motivating tourists to choose Kenya as the destination to visit. However, this study found out that while the tourists and hotel operators agree on the normative hotel product quality level, there is a significant gap between the normative quality and the perceptual quality registered by tourists who used hotel services. The study established that hotel operators only recognize quality regulatory institutions with statutory and legal authority to incriminate facilities that do not comply with laid down operational requirements such as Hotels and Restaurants Authority and the Local Authority Public Health Department. The study has proposed an integrated framework that may be utilized to build a superior national hotel product/service quality so that the economic potential of tourism is maximized in Kenya.
