Valeant Pharmaceuticals (VRX) lowered its financial guidance for the fourth quarter and full year and issued a more pessimistic outlook for 2016. Valeant said it now expects fourth-quarter earnings per share between $2.55 and $2.65, down from the $4.00 to $4.20 previously forecast. The forecast fell well short of the $3.47 per share expected by Wall Street analysts. Valeant projected total revenue of $2.7 billion to $2.8 billion for the quarter, lower than the $3.25 billion to $3.45 billion guidance previously issued. The drug maker forecast full-year adjusted earnings per share of $10.23 and $10.33 on total revenue of $10.4 to $10.5 billion.
Therefore, the generated income can move down to the lower income layers of the economy. Furthermore, tax revenues the government receives both from tourists and local businesses can be used in government expenditures on health, education, science and infrastructure. In addition, tourism significantly improves export opportunities for developing countries contributing to the expansion of their economic growth. The government foreseeing these advantages implements public policies favorable for the development of tourism. (Stynes,
Foreign tourists often spend three times that of domestic travelers — an extraordinary investment in the U.S. economy. While the tourism industry has suffered in today’s rough economic climate, additional taxes, such as the one proposed under the Travel Promotion Act, threaten to exacerbate the challenges faced by the industry. The Travel Promotion Act of 2009 imposes a $10 fee on visitors coming from visa waiver countries. The money would be used to create marketing campaigns to help bring visitors
It is clearly revealed the Japanese’s jobless rate fell reliably amidst in 2006-2007 with 4,4% and 3.6% respectively. Nonetheless, it fluctuated at 4% toward the early of 2008, this reduction made 70,000 of unemployment individuals in the aggregate number from February of 2006. The economy suffered from persistently high unemployment rate soared to 5.5% since the global financial crisis. After that, Japan’s unemployment rate stable dropped to 3.3% in the end period. Japan's jobless rate has tumbled, reaching a low point it never achieved during the previous global expansion phase.
When travellers visit, they not only spend money on accommodation, food, transport, they would spend on cultural attractions. This would be exceptionally true for cultural tourists, as they tend to have a better financial income, and a higher disposable income. The expenditure by tourists supports local businesses. Secondly, tourism creates employment in plenty of sectors. Direct jobs are created when hospitality sectors like hotels, attractions, tourism agencies, and restaurants employ people.
BNM also announced that the ringgit depreciated against most of the currencies of Malaysia’s trading partners to amid news of growing inflation. The cause of depreciation of ringgit was blamed on the anticipation of the scale-back of US Federal Reserve’s programs to support the US economy. However, outlook of the national economy still consider positive. According to the Star, Alliance Research chief economist Manokaran Mottain expects inflation rate in Malaysia to average 3.2% and peak at 3.8% in August. However, he also expects the national economy to see a 5% year-on-year growth next year, an improvement from the estimated 4.6% growth estimated in 2013.
The travel and tourism part has formed into an industry with a yearly financial report (immediate, circuitous and impelled) of around US$ 6.5 trillion around the world. The worldwide lodging industry creates pretty nearly between US$ 400-500 billion in income every year, 33% of that income is inferable from the United States. The quantity of Foreign Tourist Arrivals (FTAs) has developed consistently in the most recent three years stretching around 7.46 million amid January–December 2014. Remote trade profit (FEEs) from tourism as far as US dollar developed by 7.1 for every penny amid January-December 2014 when contrasted with 5.9 for each penny over the comparing time of 2013. FTAs amid the Month of December 2014 were Rupees 120,083 crore (US$ 19.02 billion) when contrasted with FTAs of Rupees 107,671 crore (US$ 17.05 million) amid January-December 2013 over the
Tourism has been identified for its important participation in the economy in different small islands. Tourism serves to encourage the growth of basic infrastructure, participates in the development of businesses, attracts foreign investment and supports the transfer of information and technology (Riaz, Suhejla, and Michael, 2008). Tourism has also been observed as a promoter for the conservation and development of the environment as well as sustaining local culture and diversity. Tourism is associated with different key economic sectors like hotels, transport, restaurants, and construction. This is because of the fact that tourism has the ability to make multiplier impacts in different ancillary and supporting services.
It contributes about 16% of the Gross Domestic Product (GDP) and about 25% of the foreign exchange earnings. It also contributes about 14% of total investment and offers employment opportunities to over 300,000 people. Though the tourism industry has been growing at a rate of around 10% per year since 1995, it was hardly hit by the effects of the global economic crisis during 2009, through a slowdown in tourist arrivals. The number of tourists who toured different areas of the country in 2009 went down to 714,367, from 770,376 in 2008, which represents a 7.3% decline. Proceeds dropped by 3.0% from US$ 1,198.76 million in 2008 to US$ 1,162.80 in 2009.
Value refers to the mental estimate that consumers make of the travel product, where perceptions of value are drawn from a personal cost/benefit assessment (Mason, 2016). As such, the time or money spent on a trip is compared with tourists’ the experiences gained from that visit. In this sense, perceived value elicits form an assessment of the product or services purchased at the destination (Steven,