The effectiveness of tourism as an economic developmental model for Research Paper

The effectiveness of tourism as an economic developmental model for underdeveloped countries - Research Paper Example Earnings from the tourism sector are impressive, providing about 50 percent of Seychelles’ GDP (Seychelles - THE ECONOMY, n.d.). Unlike majority of the African countries, Seychelles is one of the most developed countries in the African region. Even though most of the African countries are blessed with dense forests and natural beauties, none of those countries exploited it as did by Seychelles. The administrators of Seychelles did everything possible to transform Seychelles as the tourist’s paradise in the African region. It should be noted that the administrators have developed the necessary infrastructure facilities for tourism development in Seychelles. Plenty of world class hotels and restaurants are available in Seychelles so that tourist may not face any problems in the country. Moreover, the government has liberalised the procedures for getting tourists visas to Seychelles. An international airport was opened at Anse Dejenner, Mahe in July 1971 by the government of Seychelles to encourage tourism. Since then, the number of tourists visiting Seychelles has been gradually increasing. â€Å"From a relatively small number of 3,175 tourists in 1971, the figure exceeded the 100,000 mark for the first time in 1990†(Gabbay and Ghosh, n.d., p.1). The number of tourists in has already been crossed the 200000 mark. The case of Botswana is also similar to that of Seychelles. â€Å"Tourism income at present is valued at around $240 million per year in Botswana† (Botswana, 2011). Plenty of game reserves with hunting and photographic safaris are available in available Botswana. Central Kalahari Game Reserve is the most famous park in the Kalahari Desert of Botswana. More than one million tourists are visiting Botswana every year.... This paper offers an thorough analysis of the effectiveness of tourism as an economic developmental model for underdeveloped countries taking Seychelles, Botswana, Mauritius and Caribbean islands as examples. One of the major reasons for underdevelopment in poor countries is lack of resources. However, majority of the poor countries are full of natural beauty and hence such countries can develop tourism as a major revenue source. For example, Seychelles, Botswana, Mauritius and Caribbean islands are some countries, which have lack of internal resources, but have beautiful beaches, seashores and landscapes. Unlike majority of the African countries, Seychelles is one of the most developed countries in the African region. It should be noted that the administrators have developed the necessary infrastructure facilities for tourism development in Seychelles. Plenty of world class hotels and restaurants are available in Seychelles so that tourist may not face any problems in the country. Moreover, the government has liberalised the procedures for getting tourists visas to Seychelles. The case of Botswana is also similar to that of Seychelles. Plenty of game reserves with hunting and photographic safaris are available in available Botswana. As in the cases of Seychelles and Botswana, Mauritius is also utilizing tourism revenue for economic development.Antigua is the most developed Caribbean island with the help of tourism followed by Bahamas and Barbados. Underdeveloped countries can definitely promote tourism as a major revenue source.

Financial & Budgetary Management. Planning Business Performance Essay

Financial & Budgetary Management. Planning Business Performance - Essay Example A budget is a report statement of management’s plans for a specific time period expressed in financial terms (Weygant & Kieso & Kimmel, 2002, p.982). The purpose of this report is to describe the important of a budgeting function and the way it can easily implanted into a business information system. A budget is created to meet the desired timeframe a manager desires. The period of time a budget is created for is a one year accounting period, which is typically aligned with the company fiscal year or the natural year. A budget is an extremely valuable tool that provides decision makers with many advantages. Some of these advantages include; Budgeting is based on the amount of expected economic resources a firm estimates it will generate. Sales are the main source of economic incentive for companies. A budget is created in order to determine the resources need to create the target sales total. The value of a lot of business variables are determined based on expected revenue outcomes. The amount of material purchases, labor requirements, machinery upgrades, information system maintenance among other factors are determined based on an annual budget of a corporation. Budgets are associated with the responsibility centers such as cost centers, profit centers and investment centers. The return on investment of an investment center is studied based on the investment budget which allows the owner to create different profit forecast by manipulating the data from the budget of the investment project. The evaluation that takes place utilizing budgets is data that can be trust if it meets the basic performance standards: Accountability provides budgets with the credibility among professionals since it ensures the system is protected from material error. Accountability is one of many qualities that ensure the quality of the information in the budgeting system. Timeliness, authority, objectivity and accuracy are other variable that ensure quality information is