{"title":"Institutional Foundations of Capitalism and Tourism Management Problems of Countries at the Transition Stage (Case of Georgia)","authors":"Maia Margvelashvili, Kakhaber Cheishvili, Ineza Vatsadze","volume":95,"journal":"International Journal of Economics and Management Engineering","pagesStart":3507,"pagesEnd":3512,"ISSN":"1307-6892","URL":"https:\/\/publications.waset.org\/pdf\/9999681","abstract":"
In Capitalism all economic activity rests upon a set of
\r\ncore institutional foundations, main from which are privately owned
\r\ncapital assets and profit. How these core institutional foundations are
\r\nworking in former soviet countries, in particular in Travel and
\r\nTourism Industry of Georgia?
\r\nThe role of Travel and Tourism as a key pillar of economic growth
\r\nis being increasingly recognized by governments in all regions of the
\r\nworld. For the last few years Georgia succeeded in the World Bank
\r\nand IFC “Doing Business” rankings. Despite of that, during decades
\r\ntotally different statistical data of the tourism sector were provided by
\r\nthe different State bodies; economic parameters were published few,
\r\nor not published at all.
\r\nThe frequency and extent of property rights violation in Georgia
\r\nhas repeatedly been the subject of concern for the last decade. Total
\r\nvalue of abrogated by the former Georgian Government private
\r\nproperty is estimated approximately in US$4-5 billion.
\r\nThus, if economic profitability is unknown and property rights are
\r\nnot protected – that means that the main institutional foundations of
\r\ncapitalism in Georgia, are not working properly yet, that cause
\r\nmanagement problems at all levels of the national Travel and
\r\nTourism industry of Georgia.<\/p>\r\n","references":"[1] WTTC, Progress and Priorities, 2008\/2009, Vision 1, Economic\r\nHighlights.\r\n[2] UNWTO, Tourism Highlights, 2014 Edition (page 4).\r\n[3] WTTC, Research for Action, Economic Impact Analysis, 2014,\r\nhttp:\/\/www.wttc.org\/focus\/research-for-action\/economic-impactanalysis\/.\r\n[4] The World Economic Forum 2013, the T&T Competitiveness Report\r\n(page xvi).\r\n[5] Shane Norton, Tourism Satellite Account, IHS, Global Insight\r\npresentation, Englewood, Colorado, USA, 2009.\r\n[6] Armen A. Alchian, Property Rights, The Concise Encyclopedia of\r\nEconomics, http:\/\/www.econlib.org\/library\/Enc\/PropertyRights.html.\r\n[7] Stripped Property Rights in Georgia, Third report, March 2012 (pp.5-\r\n12).\r\n[8] Article 7 of the Constitution of Georgia, 24 August 1995.\r\n[9] Annual Report of the Public Defender of Georgia, Social and Economic\r\nRights, Right of Property, 2012 (pp.309-310).\r\n[10] Assessment and recommendations by Thomas Hammarberg, in his\r\ncapacity as EU Special Adviser on Constitutional and Legal Reform and\r\nHuman Rights in Georgia, Georgia in Transition -Report on the human\r\nrights dimension: background, steps taken and remaining challenges,\r\nSeptember 2013 (p. 40).\r\n[11] Agenda.ge, The Committee assesses state of human rights in Georgia,\r\nhttp:\/\/agenda.ge\/news\/18936\/eng\r\n[12] Marilyn M. Helms, D.B.A., Editor Encyclopedia of Management, 5th ed.\r\nThomson Gale, a part of The Thomson Corporation, 2006 (page xi).\r\n[13] Stephen J. Page, Tourism Management - Managing for change,\r\nPublished by Elsevier Ltd. Third edition, 2009 (p. 307).\r\n[14] Hazari, Brahat and Srgo, Pasquale, Foreign Capital Inflow and Regional\r\nImmiserization, Journal of Economic Integration, Sejong University, vol.\r\n13, 1998 (pp. 485-498).\r\n[15] Balagure, J. and Catavella-Jorda, M. Tourism as a Long-run Economic\r\nGrowth Factor: the Spanish Case, Applied Economics, vol.34, No 7,\r\n2002 (pp. 877-884).\r\n[16] Dristakis, N., Tourism as a Long-run Economic Growth Factor: an\r\nEmpirical Investigation for Greece Using Causality Analysis, Tourism\r\nEconomics, vol. 10, No 3, 2004 (pp. 305-316).\r\n[17] Sara Proenca, Elias Soukiazis, Tourism as an Economic Growth Factor:\r\na Case Study of Southern European Countries, Tourism Economics,\r\nvol.14, No 4, 2008 (pp. 791-806).\r\n[18] Juan Eugenio-Martin, Noelia Martin-Morales, Thea Sinclair, The Role of\r\nEconomic Development in Tourism Demand, Tourism Economics,\r\nvol.14, No 4, 2008 (pp. 673-690).\r\n[19] Economics Online - News, Analysis, Updates, Comments, Lack of\r\nproperty rights, http:\/\/www.economicsonline.co.uk\/Market_failures\/\r\nLack_of_property_rights.html.","publisher":"World Academy of Science, Engineering and Technology","index":"Open Science Index 95, 2014"}