Chapter 1
globalization
Gross domestic Product
Income from a production within a nation. This can include a country's earnings from another country
Consolidation
The combination of two or more corporations to form a new corporation
Currency restrictions
government imposed restrictions that limit the amount of exchange residence a country may purchase from banks to cover travel expenses incurred abroad
Call Provision
A provision that entitles a corporation to repurchase its bonds or preferred stock from holders at stated prices over specified periods.
multinational
a company having head quaters as well as operations in more than one country
Ryokan
Traditional Japanese lodging accommodations with tatami mat floors and Japanese landscape gardens
Economies of Scale
General Agreement on Tariffs and Trade GATT
An international agreement and organization dedicated to liberalizing world trade. GATT provides a framework within international trade negotiations
Development Bank
A bank dedicated to funding development projects. mostly provide debt financing but also equity as well.
Paradors
In spain, historic buildings like castles , palaces, convents and monasteries converted into hotels and operated by the government
Transnational
A company having headquarters in one country and operations in several other countries.
Repatriation
Brining an expatriate worker back from a foreign assignment to there home country. or the return of other resources or money
General agreement on trade and services GATS
A section of GATS dealing with liberalizing and developing binding rules for trade and services as opposed to product focus of GATT
Euroyen
euroyen index rate
weighted currency value based on euro and japanese yen
mulinatioanl index used in setting interest rates for loans
Posadas
State operated inn in Spain and Portugal
Travel Demand Determinants
Factors instrumental in influencing travel
Travel Advisories
Various types of statements issued by a government's that inform their citizens of conditions and/or dangers present in other countries and that may warn against travel to an affected area.
International Monetary Fund IMF
an organization that influences exchange controls and financial policy on a global scale by promoting exchange rate stability and the avoidance of trade and payment restrictions that would harm international economic interest.
Foreign tax credit
tax credits in the home country for taxes paid in a foreign country.
Pensions
European guest house or boarding houses
Transparency
The availability of full information
Travel Allowance
Government imposed restrictions that limit the amount of exchange residents of a country may purchase from banks to cover travel expenses incurred abroad
National Tourism Industry NTO
carries out tourism policies in a country
Hurdle rate
The minimum internal rate of return that a project must meet or exceed to be acceptable under the internal rate of return model of capital budgeting.