Events in Indonesia: exploring the limits to formal tourism trends forecasting methods in complex crisis situations
The desire to know the future is as old as humanity. For the tourism industry the demand for accurate foretelling of the future course of events is a task that consumes considerable energy and is of great significance to investors. This paper examines the issue of forecasting by comparing forecasts...
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Published in | Tourism management (1982) Vol. 24; no. 4; pp. 475 - 487 |
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Main Authors | , , |
Format | Journal Article |
Language | English |
Published |
Elsevier Ltd
01.08.2003
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Subjects | |
Online Access | Get full text |
ISSN | 0261-5177 1879-3193 |
DOI | 10.1016/S0261-5177(02)00115-2 |
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Abstract | The desire to know the future is as old as humanity. For the tourism industry the demand for accurate foretelling of the future course of events is a task that consumes considerable energy and is of great significance to investors. This paper examines the issue of forecasting by comparing forecasts of inbound tourism made prior to the political and economic crises that engulfed Indonesia from 1997 onwards with actual arrival figures. The paper finds that current methods of forecasting are not able to cope with unexpected crises and other disasters and that alternative methods need to be examined including scenarios, political risk and application of chaos theory. The paper outlines a framework for classifying shocks according to a scale of severity, probability, type of event, level of certainty and suggested forecasting tools for each scale of shock. |
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AbstractList | The desire to know the future is as old as humanity. For the tourism industry the demand for accurate foretelling of the future course of events is a task that consumes considerable energy and is of great significance to investors. This paper examines the issue of forecasting by comparing forecasts of inbound tourism made prior to the political and economic crises that engulfed Indonesia from 1997 onwards with actual arrival figures. The paper finds that current methods of forecasting are not able to cope with unexpected crises and other disasters and that alternative methods need to be examined including scenarios, political risk and application of chaos theory. The paper outlines a framework for classifying shocks according to a scale of severity, probability, type of event, level of certainty and suggested forecasting tools for each scale of shock. |
Author | Faulkner, Bill Laws, Eric Prideaux, Bruce |
Author_xml | – sequence: 1 givenname: Bruce surname: Prideaux fullname: Prideaux, Bruce email: b.prideaux@mailbox.uq.edu.au organization: The School of Tourism and Leisure Management, The University of Queensland, 11 Salisbury Road, Ipswich, Queensland 4305, Australia – sequence: 2 givenname: Eric surname: Laws fullname: Laws, Eric email: e.laws@rgu.ac.uk organization: Hospitality and Tourism Management, The Robert Gordon University, Aberdeen, Scotland, UK, AB15 4PH – sequence: 3 givenname: Bill surname: Faulkner fullname: Faulkner, Bill organization: Centre for Tourism and Hotel Management Research, Griffith University, Gold Coast, Australia |
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SubjectTerms | Asian financial crisis Chaos theory Forecasting Indonesia Risk analysis Scenarios |
Title | Events in Indonesia: exploring the limits to formal tourism trends forecasting methods in complex crisis situations |
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