Synopsis
People around the world spend at least one trillion dollars on travel each year. Travel and tourism comprise the world's largest industrial sector and employ over 300 million people, nearly one-tenth of the global work force. In this path-breaking book Harold L. Vogel examines the business economics of each of the segments of the travel industry, comprised of airlines, cruises, railroads, buses, automobiles, hotels, casinos, amusement and theme parks, and tourism. The result is a concise, up-to-date reference guide for financial analysts, economists, industry executives, and teachers and students interested in the economics, finance, and marketing of travel-related goods and services in the United States and overseas. A glossary, "time-line" diagrams, and technical appendices enhance the book's appeal as a reference tool. Its fully integrated assessment of the business of travel makes the work unique in the marketplace. Harold L. Vogel is author of the highly successful Entertainment Industry Economics: A Guide for Financial Analysis. A chartered financial analyst, Mr. Vogel was a senior analyst with Merrill Lynch for seventeen years. He is an adjunct professor in the Graduate School of Business at Columbia University.
Reviews
Vogel is the author of the authoritative Entertainment Industry Economics (1986), which will see its fifth edition published this winter, and Institutional Investor has regularly ranked him Wall Street's top entertainment industry analyst. He now offers this counterpart for the travel and tourism industry, which according to Vogel accounts for one percent of the world's workforce. Vogel ties together and analyzes the diverse segments of the industry in a way that will benefit potential investors and financial economists and also journalists, students, industry executives, and government planners. He provides an overview of the travel and tourism business and introduces the economic concepts he uses. The industry segments Vogel examines include airlines, hotels, cruise lines, railroads, automobiles, buses, casinos, amusement and theme parks, and tourism. While readers will need a basic background in economics to take full advantage of his manual, Vogel does include well-written historical profiles, narrative discussions, and whimsical chapter headings for each segment that make his work more accessible to a wider audience. David Rouse
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