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Determining the Optimal Investment Policy for the Tourism Sector of a Developing Country

Author

Listed:
  • Charles E. Gearing

    (The Amos Tuck School of Business Administration, Dartmouth College)

  • William W. Swart

    (University of Miami)

  • Turgut Var

    (Simon Fraser University)

Abstract

For developing countries trying to increase their "buying power" in the community of nations, the establishment of a tourism industry is an important strategy for the generation of foreign exchange earnings. This paper develops a decision structure whereby investment allocation decisions for touristic projects may be made. The decision structure consists of a procedure to quantify the concepts of touristic attractiveness, a mathematical model representing the allocation problem, and a procedure for the solution of the model.

Suggested Citation

  • Charles E. Gearing & William W. Swart & Turgut Var, 1973. "Determining the Optimal Investment Policy for the Tourism Sector of a Developing Country," Management Science, INFORMS, vol. 20(4-Part-I), pages 487-497, December.
    • Handle: RePEc:inm:ormnsc:v:20:y:1973:i:4-part-i:p:487-497
    DOI: 10.1287/mnsc.20.4.487
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    Cited by:

    1. Hanafi, Said & Freville, Arnaud, 1998. "An efficient tabu search approach for the 0-1 multidimensional knapsack problem," European Journal of Operational Research, Elsevier, vol. 106(2-3), pages 659-675, April.
    2. Yuri Peers & Harald J. van Heerde & Marnik G. Dekimpe, 2017. "Marketing Budget Allocation Across Countries: The Role of International Business Cycles," Marketing Science, INFORMS, vol. 36(5), pages 792-809, September.
    3. Freville, Arnaud, 2004. "The multidimensional 0-1 knapsack problem: An overview," European Journal of Operational Research, Elsevier, vol. 155(1), pages 1-21, May.
    4. Gamini Herath, 2002. "Research Methodologies for Planning Ecotourism and Nature Conservation," Tourism Economics, , vol. 8(1), pages 77-101, March.
    5. Oleg Shcherbina & Elena Shembeleva, 2014. "Modeling recreational systems using optimization techniques and information technologies," Annals of Operations Research, Springer, vol. 221(1), pages 309-329, October.

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