Yield Research Programme Report series

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Now showing 1 - 5 of 15
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    Enhancing financial and economic yield in tourism: sector performance and business benchmarks report
    (Lincoln University. Tourism Recreation Research and Education Centre., 2007-11) Moriarty, John
    Establishing the economic contribution of visitor activities to national or local gross domestic product (GDP) has been the primary use of Tourism Satellite Accounts (TSA). Visitor consumption is distributed throughout numerous sectors of the economy where expenditure, value-added and the financial yield of constituent enterprises provides a mechanism for comparing the performance of tourism’s characteristic industries against the rest of the economy. This paper submits that measures of economic performance at sector level and financial yield at enterprise level are more reliable indicators of tourism’s sustainability within an economy than volumetric measures such as visitor consumption or income. The concept of tourism yield is revisited, defined and measured in terms of enterprise-level economic performance. Furthermore, this paper outlines a methodology based on economic value measurements for determining the relative performance of sectors contributing to a TSA.
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    Enhancing financial and economic yield in tourism: performance benchmarks for New Zealand tourism characteristic enterprises based on financial yield
    (Lincoln University. Tourism Recreation Research and Education Centre., 2007-11) Moriarty, John
    Tourism Strategy 2010 identified the objective of achieving greater financial and economic sustainability from tourism businesses and observed that there were a number of mechanisms that might contribute. This paper has examined Statistics New Zealand Annual Enterprise Survey Data for the period 1999-2003 to investigate the financial performance of tourism characteristic enterprises. Whilst no single metric informs on every aspect of business performance, one that incorporates both trading and capital efficiency is appealing. This study uses 'financial yield' (FY) as a metric that provides insight into the efficiency of an enterprise and does so by examining the degree to which its assets generate cash returns to shareholders. The metric also assists with an estimation of financial and economic sustainability criteria as enterprises that consistently perform at particular levels of FY are able to be classified by the degree to which they meet these criteria. The combination of FY and readily available market benchmarks from the Reserve bank and other financial services providers enables enterprises to gauge their performance relative to their tourism peers and the broader economy. This, together with appropriate diagnostic tools, provides insight into opportunities for business improvement.
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    Enhancing financial and economic yield in tourism: performance benchmarks for New Zealand accommodation enterprises based on financial yield
    (Lincoln University. Tourism Recreation Research and Education Centre., 2007-11) Moriarty, John
    Drawing conclusions on the performance of the tourism sector requires a distinction to be made as to the type of performance being measured. New Zealand’s Tourism Strategy 2010 considered this issue and recommended that the future emphasis should be on the sustainability of the private sector evidenced by financial and economic performance that enabled innovation and competitiveness in both local and international markets. Although the private sector is tourism’s most significant economic contributor, it also enjoys economic contributions from the public sector in the form of product management, promotion and a broad range of infrastructure dimensioned beyond the reasonable needs of international visitors but rather to satisfy community demands. Such contributions should enhance the private sector’s performance if only through the mechanism of cost avoidance. This, together with the underlying nature of tourism enterprises – numerous, independent, geographically disparate and mainly small – suggests that proprietor behaviour and business performance is an important aspect of addressing the objective of financial and economic sustainability cited in the tourism strategy.
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    Enhancing financial and economic yield in tourism: division benchmarks for New Zealand tourism characteristic and tourism related industries 1999-2003
    (Lincoln University. Tourism Recreation Research and Education Centre., 2007-11) Moriarty, John
    Performance monitoring and benchmarking are important contributors to policy and planning processes. Tourism presents particular challenges as visitor expenditure supports a broad spectrum of commercial activity throughout hundreds of the economy’s industrial divisions. It has been difficult to establish financial performance benchmarks at divisional level because enterprise performance is generally confidential (unless required to be disclosed – e.g. as part of an obligation to list on a public exchange such as NZX). More easily identified alternatives are generally activity based (e.g. revenues, customer volumes, market share) and whilst useful they offer no insight into financial or economic performance. The benchmarking metrics in this report include Financial Yield (FY) and a variety of operating ratios based on revenue. These benchmarks represent the consolidated financial performance of enterprise business units within New Zealand Tourism’s characteristic and related industries. They reflect the degree to which divisions generate wealth (Financial Yield) and report the operating parameters associated with that performance.
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    Enhancing financial and economic yield in tourism: division benchmarks for New Zealand tourism characteristic and tourism related industries 2000-2004
    (Lincoln University. Tourism Recreation Research and Education Centre., 2007-11) Moriarty, John
    Performance monitoring and benchmarking are important contributors to policy and planning processes. Tourism presents particular challenges as visitor expenditure supports a broad spectrum of commercial activity throughout hundreds of the economy’s industrial divisions. It has been difficult to establish financial performance benchmarks at divisional level because enterprise performance is generally confidential (unless required to be disclosed – e.g. as part of an obligation to list on a public exchange such as NZX). More easily identified alternatives are generally activity based (e.g. revenues, customer volumes, market share) and whilst useful they offer no insight into financial or economic performance. The benchmarking metrics in this report include Financial Yield (FY) and a variety of operating ratios based on revenue. These benchmarks represent the consolidated financial performance of enterprise business units within New Zealand Tourism’s characteristic and related industries. They reflect the degree to which divisions generate wealth (Financial Yield) and report the operating parameters associated with that performance.