American Society Of Appraisers Business Valuation Committee Special Topics Paper #3
Saturday, December 7, 2019
Statistics and Business Research Method Emerging Trends on Tourism
Question: Discuss about the Statistics and Business Research Method for Emerging Trends on Tourism. Answer: Introduction: Over the past few decades, tourism industry has become one of the most dynamic factors that affect the world economy. In 2013, tourism accounted almost 11% of global GDP and around 6% of total employment. Victoria is considered as one of the most popular places in Australia. People come from all over the world to visit Victoria. As a result, different types of techniques have been developed by the tourism industry in order to develop a better infrastructure for tourism. This study will focus on the newly introduced transport form namely Uber taxi and its consequences on the tourism industry of Victoria. The study focuses on the Uber taxi in order to identify whether Victoria is adaptable to the emerging trends in the tourism industry or not. Problem definition: The study focus on an incident occurs at Victoria where an Uber driver was fined $900 for driving unlicensed Uber taxi (Uber Driver loses in Victorian Court 2015). It has come up as a major issue as Victoria is yet to regulate Uber taxi legally. However, Uber has able to establish itself as a successful transport medium in other major states in Australia. In fact, it has come as a major competitor to the traditional transport medium of Australia. The company aimed to provide a much more safer and reliable transport medium for tourist. Therefore, it has become one of the popular transport medium for the tourist in the other states of Australia. However, the above incident creates a question mark over the adaptability of Victoria regarding the emerging trends in the tourism industry. Literature review: Background information: As per the article by BAK et al. (2016), technological enhancement has made its mark on the every industry. Since, it allows organizations to utilize advanced technological tools, which will help to implement new process much more effectively. Specifically, in case of tourism industry, the impact of technological enhancement has able to made huge amount of impact, as it allows new trends to enter into the industry (Castillo et al. 2015). It highlighted the fact that technological advancement has made business process to change or evolve in continues manner. However, Cohen and Cohen (2015) highlighted that changes in the business process demands the new rules and regulations from the government authority. Therefore, it highlighted that government has to respond to a rapid pace in order to restructure its outdated laws. Otherwise, it can create negative impact on the overall business processes. As described by Chon (2013) technological evaluation has influenced tourism industry of the world drastically. The article highlighted that, technological evaluation has made everyone online in different social media platforms. Therefore, organizations are also tries to utilize different online platform and mobile apps in order to enhance its business. As a result, it also influenced hugely in the tourism industry as well. As per the study by Kajn, Tervo-Kankare and Saarinen (2015) mobile has emerged as the most preferred choice of the people from all over the world to access online travel services. Since, it allows customers to evaluate different tourism factors before deciding to select any particular service or destination. It influences organizations to focus of the significance of the online platform in order to reach to a large number of customers. Kim, Boo and Kim (2013) highlighted that Uber taxi established in the year of 2009 and was introduced in Australia in 2012. The article highlighted that after its introduction the company has able to make its mark on the transport sector of Australia. The company developed an online app in order to interact with its customers affectively. However, the article also stated that the company also receives several criticisms from the different parts of the Australia. Still, the company has manages to increase its popularity to a great extent. Mair and Whitford (2013) mentioned that 80% of the Uber taxi riders has given a five star rating regarding the service of the industry. Specifically, it has able to grab the attention of the foreign tourism from Australia, which helps the company to established itself as an emerging trends in the tourism industry in Australia. Ruhanen et al. (2015) highlighted five factors that has help the company to become an emerging trends in the tourism industry . Availability in different location has made Uber taxi very popular among the people. Reliability helps tourists to minimize its waiting time. Rating system helps the company to analyze the feedback of the customers for further development process. Integrated payments system has finished the possibility of barging regarding the price. Ride sharing helps the people to share ride with another individuals. Therefore, the article mentioned that the unique way of doing business has able to increase the popularity of the company throughout the Australia. Literature gap: The above discussion highlighted the fact that Uber has able to establish itself as one of the significant emerging trends in tourism industry in Australia. However, the above-mentioned problem has created an important question regarding the adaptive power of Victoria. Since, unlike other state in Australia, it yet to implement legal rules and regulation for the company. Therefore, the study will go through an in-depth analysis of Victorian economy in order to estimate the kind of impact that emerging trends has made on the tourism industry. Research questions: The research questions described as follows: How emerging trends can affect Victorian tourism industry? Why the online taxi service is yet to legalized in Victoria? What are the necessary changes that the government of Victoria has to make in order to cope up with the emerging trends in the tourism industry? How this emerging trend in tourism industry will affect consumers and competitors in the Victorian economy? Research methodologies: Research methodology provides several tools and techniques for accumulating topic related information. The research methodology helps the researcher to identify best possible technique for the data collection purpose (Voigt and Pforr 2013). Therefore, implementation of research methodology is extremely important for the successful completion of the study. In this particular study, the focus will be on the impact of emerging trends in the tourism industry into the Victorian economy. Therefore, the researcher will primarily focus on the previous research work and secondary data in order to collect relevant information about the topic of the research. In this study, the researcher will focus on the review and analysis of the regulatory and legal policies on the shared economy in Victoria. The researcher will also focus on the perspective of consumer protection and its impact on the tourism and Victorian economy. The researcher will focus on the legal perspectives of Victorian economy in order to accumulate relevant information regarding the topic of the study. However, the researcher will also focus on the primary research as well. Since, it will allow the researcher to identify different views regarding the current market trends. The researcher will include primary research, as it will enhance the outcome of the study by providing current and more in-depth information about the topic of the study. Project plan: Calculation is on MS-Excel Figure 1: Gantt chart (Source: As created by the author) Description of the research process: For this particular study, the researcher will follow a systematic procedure for executing the research effectively. The researcher will follow systematic procedure as it will help to fulfill the objective of the study and also will help the study to be completed within the given timeframe. Firstly, the researcher will identify the major elements regarding the topic of the study that requires further investigation. Secondly, the researcher will develop objective and research aim. Thereafter, the researcher will develop research questions that will related to the objective of the study. The development of research question is very important, as it will help the study to gather in-depth information. Fourthly, the researcher will focus on the literature review portion in order to identify the different theories and concepts regarding the topic of the study. Specifically, as the researcher focusing on the secondary data collection procedure, development literature review will allow to ev aluate the importance previous research work, which will eventually help the researcher to evaluate the topic of the study in a much more effective way. The researcher will focus on the journals, books and magazines to collect relevant information regarding the topic of the study. In addition, secondary data collection will also help the researcher to identify the most important factors regarding the topic of the study. This will help the researcher to implement the next procedure of the research process namely primary data collection method. The researcher will also include primary research technique in to the study so that the study can able to depict the realistic outcome of the study. In addition, primary research will allow the researcher to evaluate practical information regarding the topic of the study. Thereafter, the researcher will focus on the data collection and analysis procedure so that the research can able to meet the objective of the study. Figure 2: Research process (Source: Ruhanen, Mclennan and Moyle 2013) Description of the data collection and analysis method: Data collection: Data collection is another prime aspect for the investigation of any research topic. It includes both primary and secondary data collection method (Wu and Pearce 2014). As mentioned earlier, the researcher will primarily focus on the secondary data collection to identify the legal trend of Victoria in the tourism industry, as it will help the researcher to identify several study based on the relevant topic of the study. In addition, secondary data collection will allow the researcher to conduct literature review section in a much effective way. Furthermore, as the study demands evaluation of the legal perspectives of Victoria, it will have to depend heavily on the previous research work in order to identify the kind of impact the emerging trends in the tourism industry can able to make on the Victorian economy. For the effective secondary data collection, the researcher will utilize books, journals, relevant websites and magazines. On the other hand, the researcher will collect prima ry data to understand the perspectives of the tourists regarding the emerging trends. The researcher will select 90 respondents for the collection of data. It is important, as it will help the researcher to improve the outcomes of the study. The researcher will utilize questionnaire to collect information from the respondent. The research will only include closed-end questions for the collection of primary data. Figure 3: Data collection method (Source: Timothy 2014) Data analysis: Data analysis helps the research study to analyze collected information in such a way so that the study can able to meet its objective. Traditionally, researchers use sampling technique for the effective analysis of the data. As per the article by Tolkach, Chon and Xiao (2015), sampling technique can be divided into two factor, probability sampling and non-probability sampling. In this study, the researcher will focus on the non-probability sampling technique for the collection of primary data. The researcher will select non-probability sampling, as it will help the researcher to collect information from specific group of tourist. The researcher will implement different statistical method for the purpose of analysis of the data. Since, the researcher only selected closed-end questions for the collection of data, statistical intervention will help the study to evaluate the trend in a much effective way. The researcher will utilized mean, median, mode, correlation and regression techni que for the effective analysis of the collected data so that the study can able to meet its objective. Expected research outcomes: From the above analysis, it is expected that the researcher will able to analyze all the factors relating to the study very effectively. It is expected that the secondary data will help the researcher to improve its knowledge about the topic of the study. Since, Victoria is among the top popular tourist places of Australia, it is expected that the researcher will identify that Victoria is very adjustable regarding the emerging trends in the tourism industry. It is also expected that the research will found that the above mention problem is an exception. References: Uber driver loses in Victorian court. [online] The Age. Available at: https://www.theage.com.au/video/video-news/video-national-news/uber-driver-loses-in-victorian-court-20151204-47bju.html [Accessed 14 Jun. 2016]. BAK, R., MUDRK, M., TEFKO, R. and Sebastian, K.O.T., 2016. Analysis of Tourism Travel Trends after 2014.ASER. Chon, K.S., 2013.Tourism in Southeast Asia: A new direction. Routledge. Cohen, E. and Cohen, S.A., 2015. A mobilities approach to tourism from emerging world regions.Current Issues in Tourism,18(1), pp.11-43. Kajn, E., Tervo-Kankare, K. and Saarinen, J., 2015. Cost of adaptation to climate change in tourism: Methodological challenges and trends for future studies in adaptation.Scandinavian Journal of Hospitality and Tourism,15(3), pp.311-317. Kim, J., Boo, S. and Kim, Y., 2013. Patterns and trends in event tourism study topics over 30 years.International Journal of Event and Festival Management,4(1), pp.66-83. Mair, J. and Whitford, M., 2013. An exploration of events research: event topics, themes and emerging trends.International Journal of Event and Festival Management,4(1), pp.6-30. Ruhanen, L., Weiler, B., Moyle, B.D. and McLennan, C.L.J., 2015. Trends and patterns in sustainable tourism research: a 25-year bibliometric analysis.Journal of Sustainable Tourism,23(4), pp.517-535. Ruhanen, L.M., Mclennan, C.L.J. and Moyle, B.D., 2013. Strategic issues in the Australian tourism industry: A 10-year analysis of national strategies and plans.Asia Pacific Journal of Tourism Research,18(3), pp.220-240. Timothy, D.J., 2014. Contemporary cultural heritage and tourism: Development issues and emerging trends.public archaeology,13(1-3), pp.30-47. Tolkach, D., Chon, K.K. and Xiao, H., 2015. Asia Pacific Tourism Trends: Is the Future Ours to See?.Asia Pacific Journal of Tourism Research, pp.1-20. Voigt, C. and Pforr, C., 2013.Wellness Tourism: A Destination Perspective(Vol. 33). Routledge. Wu, M.Y. and Pearce, P.L., 2014. Chinese recreational vehicle users in Australia: A netnographic study of tourist motivation.Tourism Management,43, pp.22-35. Castillo, V., Figal Garone, L., Maffioli, A. and Salazar, L., 2015.Tourism Policy, a Big Push to Employment: Evidence from a Multiple Synthetic Control Approach. Inter-American Development Bank.
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