Travel Industry Economics (2^nd Ed.)
A Guide for Financial Analysis

Each year, people around the world spend well over one trillion dollars on travel and tourism, making this sector the world's largest, with employment of 300 million people, one-tenth of the global workforce. In this book Harold L. Vogel examines the business economics and investment aspects of major industry components that include airlines, hotels, casinos, amusement and theme parks, and tourism. The result is a concise, up-to-date reference guide for financial analysts, economists, industry executives, legislators, regulators and journalists interested in the economics, financing and marketing of travel-related goods and services. The new edition expands coverage to airport management, Asian gaming, recreational resorts, restaurants, private jet services and advertising. Sections on the pricing and availability of oil and public policy issues such as antitrust and predation have also been added. A glossary, timeline diagrams and technical appendices enhance the book's appeal as a reference tool.

Part I. Introduction: 1. Economic perspectives; Part II. Getting There: 2. Wings; 3. Water and wheels; Part III. Being There: 4. Hotels; Part IV. Doing Things There: 5. Casinos; 6. Amusement/theme parks and resorts; 7. Tourism; Part V. Roundup: 8. Performance and policy; Appendix A; Appendix B; Appendix C; Glossary; References; Notes.

Harold L. Vogel is author of Financial Market Bubbles and Crashes (Cambridge University Press, 2010) and all editions of Entertainment Industry Economics: A Guide for Financial Analysis (Eighth Edition, Cambridge University Press, 2011), the latter of which is a companion to this volume. At Merrill Lynch & Co. for seventeen years, he was ranked by Institutional Investor magazine as top entertainment industry analyst for ten years and been inducted into its All-America Research Team Hall of Fame. A Ph.D. in financial economics, he writes and lectures on investment topics related to entertainment and media, travel, and market bubbles and crashes, while currently heading an independent investment and consulting firm in New York City.