THE IMPACT OF THE HAJ EVENT ON VISITORS TOWARD THE HOSTING DESTINATION Research Proposal

THE IMPACT OF THE HAJ EVENT ON VISITORS TOWARD THE HOSTING DESTINATION - Research Proposal Example The evaluation of the event will be an essential attribute that requires a proper analysis and elaboration of the issues that take place within the same platform. This report proposes that the events profits the hosting country a lot due to the influx of people while also creating an opportunity for small scale traders to expand their business so as to gain from these events. The proposal will examine the different issues that affect attitudes when dealing with mega events. The proposal will evaluate the events and the value dimensions that define attitudes when dealing with such events. It will also look at the impact of having such an event to the hosting country as the costs and benefits will be felt most by the host countries. Most of countries have begun to open up on hosting mega events. The Hajj has always been an awaited session amongst the Muslims due to their religious connotations. Others have been yearning to host events as big as the fifa world cup and the Olympics because of the tourism benefits they accrue as a country (Horne and Manzenreiter, 2006: 190). The goal is to understand whether the benefits will outweigh the costs and whether the host country will manage the people who come to the country (Jones, 2001: 242: Daniels, 2006: 335). These have also shaped the world tourism patterns because everyone knows that the Hajj period is directed to Mecca and any world cup will be directed to the hosting countries. With time, people already shape their tourism patterns. They have also highlighted the new tourism destinations and brought new demands to these countries (Gelan, 2003: 410). The main expectation, however, is that the host country will have heavily invested in infrastructure, sporting facilities and security to avoid any fatalities due to the huge crowd (Szymanski, 2002: 170). The improvement will benefit the country afterwards, but the

Foreign Direct Investment in China in last 10 years Essay Example for Free

Foreign Direct Investment in China in last 10 years Essay Foreign direct investment (FDI) is a long-term investment by a foreign investor and is considered a key component of national development strategies across all countries over the globe. This type of investment boosts the economic growth of a country through its positive impact on the country’s domestic capital, productivity, and employment statistics. FDI is the lifeblood of a growing economy that provides the host country benefits of increased labor standards and skills, transfer of new technology and innovative ideas, improved infrastructure and conducive business environment. It is a leading source of external financing. Countries that have stable market conditions coupled with high productivity, low costs of labor, effective government policies and adequate infrastructure facilities are considered to be the most favored destinations for foreign investment companies. Liberalization of economies has opened doors for many countries into the emerging markets of the developing nations such as China and India. The Chinese Economy The Chinese economy is one of the fastest growing economies in the world. It has emerged from being an economy with virtually no foreign investment in the late 1970s to a country that attracts one of the largest amounts of foreign investment from investors across the globe. The increasing openness of the Chinese economy to foreign direct investment has contributed immensely to its exceptional growth and development. The increase in foreign direct investment in China has contributed to higher investment, and growth in productivity, greater employment opportunities, and a dynamic export sector. China is one of the most populous countries in the world with more than 1. 3 billion people with an annual growth rate of 0. 8%. It has taken adequate measures to curb its rising population figures and this has made a positive impact on its growth rate. The population density is approximately 136 persons per square kilometer with most of the people (almost 60 percent) living in rural areas. Life expectancy is also higher in this country than most developing nations across the globe. The country also has high literacy rate of 91 percent. The Chinese economy witnessed a slow but dramatic growth over the past twenty years. It has transformed from a poor economy with relatively low per capita income to the world’s fastest growing economy. The Chinese economy has emerged as a market-oriented economy that has become a dominant figure in world trade. The country has increased its interaction with international economy that has resulted in increased foreign trade and gross national product (GNP). The Chinese economy grew at 11. 4 percent in the year 2007. As per the FDI Confidence Index compiled by A. T. Kearney in the year 2005, China hold the first position followed by India and United States. China is currently the world’s fourth largest economy and it has expanded by at least 10 percent annually in the last four years. Foreign direct investment in China rose by 4. 5 percent in the year 2006 to approximately US$ 63 billion. The country’s foreign currency reserves are the world’s largest and primarily derived from the trade surplus that rose to almost US$ 177. 5 billion in the year 2006. FDI investment trend in the past 10 years Foreign direct investment sector in China has spelled success over the past ten years. It has increased from a mere US$ 19 billion in the year 1990 to more than US$ 700 billion in the year 2007. A glance at the capital and financial account item’s surplus in the past few years reveal that the foreign direct investment has made great contributions to the foreign exchange reserve accumulation. Besides this the FDI has a stabilizing influence on the country’s economy. This is largely due to the long-term commitment that FDI stands for while establishing foreign affiliates. Most developing countries hence are adopting policy reforms to attract more foreign investment into the country. China has accounted for more than one-third of the gross FDI flows to all emerging markets over the past decade. Despite the weakening of the global markets in the recent years, China has remained an essentially fast growing economy. The country’s capital inflows have been dominated by FDI that has made significant contribution to stabilizing the economy along with other associated benefits such as technological transfers and increasing managerial expertise. In 2007 the overall FDI inflows into China totaled US$ 82. 7 billion that is a 13. 8 percent increase from the previous year figures. The total number of deals dropped by almost 8 percent in the year 2006 from 44,019 in the year 2005 to 41,485 in the 2006. The increasing appreciation of the local currency renminbi during the period and the subsequent impact on the market was responsible for this drop. The year 2007 saw only 37,888 foreign investment deals, a drop of 8. 7 percent from the previous year figures. But the value of the FDI was significantly larger than the previous statistics. Wholly foreign-owned enterprises represented almost 78 percent of all foreign investments followed by equity joint ventures and contractual joint ventures. Continuous foreign capital inflow has rendered the Chinese economy the prime position in global context in terms of attracting foreign investment. The country accounts for an investment of foreign capital funds totaling US$ 8589 million by 5136 new foreign corporations between the period January to February 2006. The major sources of FDI in China are Hong Kong, British Virgin Islands, South Korea, Japan, and Singapore. Among other investors the prominent countries are United States, Taiwan, Cayman Islands, Western Samoa, and Mauritius. These top ten countries together account for 87. 2 percent of total FDI inflows into China. The manufacturing sector accounted for nearly 57. 7 percent totaling US$ 40. 1 billion of the total FDI inflows in the year 2006 followed by 11. 9 percent equivalent to US$ 8. 2 billion in the real estate sector. Other prominent sectors that reflect increasing foreign investment are leasing and business services (US$ 4. 2 billion), transport (US$ 2. 0 billion), wholesale and retailing (US$ 1. 8 billion). Low cost of manufacturing, increasingly wealthy consumer market comprising of 1. 3 billion people are attracting larger number of foreign companies to establish their outlets in China. The large-scale investment by foreign investors has helped in pushing the nation’s foreign currency reserves to almost US$ 1. 2 trillion that is quite high by global standards. The FDI outflow of China received significant attention in the year 2007 due to the creation of People’s Republic of China’s sovereign wealth fund, the China Investment Corp. and several other high profile investments and acquisitions. China Investment Corp. purchased a stake of US$ 3 billion in Blackstone and 9. 9 percent stake of Morgan Stanley worth US$ 5 billion in the year 2006. The statistics of the total FDI outflow in the year 2006 reveal a total figure of US$ 21. 2 billion that is an increase of nearly 73 percent over the previous year figures. The State owned enterprises accounted for almost 86 percent of this total FDI outflow. The FDI outflow in the country is spread across 172 destinations across the world. The largest share of the FDI outflow from China is received by Latin America followed by Asia, Cayman Islands, and Hong Kong. The prime regional sources of China’s overseas investments are Guangdong, Shanghai, Shandong, Jiangsu, Fujian, Hainan, Hebei, and Beijing. Balance of Payments trend in the past 10 years Over the last ten years China’s Balance of Payments (BOP) kept its current and capital accounts in surplus constantly. The annual total scale of BOP accounts’ increased by 31. 6 percent during the period 1984 – 2004 when foreign reserves increased from US$ 0. 054 trillion to US$ 1. 91. In the first half of the year 2005, the BOP raised to US$ 1. 14 trillion that is an increase of 25. 3 percent over the previous year figures. There is a complimentary relationship between the growth of FDI and international trades. The trades and foreign investment have immense impact on the position of balance of payment, in terms of growth in international business activities. Source: International Financial Statistics July 2007, International Monetary Fund The changes in economic policies adopted and implemented by the Chinese government have made tremendous impact on its trade and balance of payments. The opening of the economy and its gradual move towards a market-oriented economy has made significant impact on the trade balances and foreign funds inflow into the country. A look at the balance of payments figures indicates that the current account surpluses and foreign direct investment have remained important contributors to accumulation of foreign exchange reserves in China. The trade surplus widened to over 177 billion dollars in 2006 to 262 billion dollars in the year 2007. The Government of China is planning to stimulate imports and streamline exports in the coming years. GDP and Inflation Trend in China GDP has shown a healthy growth trend over the past decade in China. Individuals have become richer with annual GDP rising from US$ 8,440 billion in the year 1998 to US$ 24,661 billion in the year 2007. The real GDP growth in the year 2007 was 11. 4 percent raised from 11. 1 percent in the year 2006. The 11. 4 percent GDP growth rate is the highest for China in the last 13 years and it is expected that the GDP will grow 10 percent in the forthcoming year. The economic growth in China was expected to slow down in the year 2007 due to the global market slump. However the rising oil prices across the globe has not made much of an impact so far on the Chinese economy due to the huge amounts of foreign investment in the country. But Chinese economy being more dependent on international trade will face a slow down eventually. Economists predict that the rising consumption pattern will have a slow down impact on the GDP growth rate in the year 2008. It is expected that the Chinese exports will slow down from 26 percent in the year 2007 to 19 percent in 2008. This is mainly accountable to the weakening global market demand and cuts in export rebates. A look at the inflation in China reveals a steadily growing curve. Inflation reached a high of 4. 8 percent in the year 2007 from 1. 5 percent in the year 2006. The rising inflation has reached the peak within the decade. It is expected that the inflation will continue to rise in the forthcoming years with percentage rising to more than 7 in the year 2008. The rising global price of oil has made significant impact on the market prices of goods and commodities in China. This has led to rising consumer oil prices and food prices, and producer price index. Inflation has spread to the service sector as well indicating rising cost of labor in the country. The consumer price index rose by 4. 5 percent in the urban areas and by 5. 4 percent in the rural areas in the year 2007. The rise in inflation is mainly attributed to increased food prices and housing sector. This is becoming a matter of concern for the Chinese economy since the escalating prices can have a negative impact on the overall economic growth. The Chinese government is trying to control inflation adopting strict monetary and trade regulations. Unemployment trend The per capita disposable income was 13,786 yuan in the year 2007 that is a growth of 17. 2 percent from over the previous year figure of 11,759 yuan. The rural per capita disposable income was 4140 yuan in the year 2007 that is a growth of almost 15. 4 percent over the previous year figure of 3587 yuan. The employment figures also raised in the past few years steadily both in the urban and rural sectors. The number of employed people in urban areas reached 12. 04 million people in the year 2007 an increase of 200,000 people over the previous year statistics. China has generated almost 51 million jobs in the past five years in the urban areas. Statistics reveal that there are about 20 million new job seekers in the country every year and the economy is able to provide approximately 12 million jobs per year. Government efforts are directed towards generating more jobs. The country has implemented active employment policies since the year 2002 that has increased the number of employed people from 8. 4 million to 12. 04 million in the last year. Impact of FDI on the Chinese Economy The past few years has witnessed the emerging of China’s economy as the most successful in the world utilizing the inflow of foreign direct investment towards its economic development. The key driving force towards this economic mobilization is the opening up of the Chinese economy to foreign trade and investment. The opening of the economy with subsequent rise in foreign direct investment has contributed immensely to its exceptional growth and development. The foreign direct investment has made a positive impact on the country’s balance of payments. Besides this the impact has been favorable on the country’s GDP growth rate. It has not only raised GDP growth by adding to capital formation but also has contributed to higher GDP growth through its effect on total productivity. The establishment of foreign funded enterprises has directly contributed to the GDP growth an introduction of new technologies and management skills. The growth in industrial establishments and service sector has created new employment opportunities and this is seen as a significant contributor to economic development in China. Moreover, the foreign direct investment has assisted in establishing a highly competitive manufacturing sector in the country. This has contributed immensely to the rising exports and the country’s participation in world trade. References: 1. Foreign Direct Investment in China: International Monetary Fund, 2002 http://www. imf. org/external/pubs/ft/pdp/2002/pdp03. pdf accessed on 9th April, 2008 2. The US-China Business Council – Forecast 2008 China’s Economy http://uschina. org/public/documents/2008/02/2008-china-economy. pdf accessed on 9th April, 2008 3. ADB: China’s GDP to grow 10% in 08, inflation at 5. 5% http://www. chinadaily. com. cn/china/2008-04/02/content_6587641. htm accessed on 9th April, 2008 4. Chinese Inflation hits highest level in more than a decade, Feb 20, 2008 http://www. iht. com/articles/2008/02/19/business/yuan. php accessed on 9th April, 2008 5. National Bureau of Statistics of China http://www. stats. gov. cn/english/statisticaldata/yearlydata/ accessed on 9th April, 2008

An Artists review Essay -- essays research papers

Nusrat Ahmad: Pioneer of Pakistan   Ã‚  Ã‚  Ã‚  Ã‚   As I walked up to the future interior designer of the Ahmad family, I wondered the extent to which Nusrat Ahmad had taken her designing career. I saw Nusrat sitting on the lush green sofa in the corner of her family room, thinking that one day she would be strategically placing sofas in other people’s houses. Belonging to a Pakistani family, I wanted to question the extent of approval she received from her family and relatives and inquire about other South Asians artists in today’s community.   Ã‚  Ã‚  Ã‚  Ã‚  Just like any other Pakistani family, Nusrat’s parents always wanted their daughter to be a doctor. As she struggled through high school with her science classes in order to please her parents, she started drawing as a hobby. Sitting bored in her Biology class, she developed a habit of drawing pictures of different organs of the human body in her notebook. She had no interest in the field and she bluntly told me that â€Å"I enjoyed drawing more than physics or biology.† (Nusrat) Her parents were unaware of her art, which started to show up at her school’s art exhibitions. Even until the end of her high school career, she did not tell her parents that she was serious about her art and wanted to pursue it, and only when she started college did she tell them that she had an avid interest in that field. They disregarded the idea, thinking of it as a childish interest and still forced her into pursuing a medical career. After the end of her first year in college, she started taking an afternoon art class with a famous abstract artist in Pakistan, Mansoor Elahi, who was well known for his murals in The Parliament, the President’s house. Even though her parents did not want her studying art, they allowed her to take that class due to her incessant nagging. Nusrat studied abstract art with him for about a year and a half, â€Å"encouraged by Mr. Elahi† (Nusrat) and most of her paintings were a reflection of his ideas. These paintings were exhibited at local art exhibitions on and off. Eventually, he told her that her paintings could be sold for about three thousand dollars a piece.  Ã‚  Ã‚  Ã‚  Ã‚  At the end of her particular 2 year college career, her peers granted her the title of â€Å"Nusrat daVinci,† a tradition where the juniors award a title of how an individual has been throu... ...estion as to why there are not that many Asian Americans represented in American literature is one that Nusrat could ask the same of South Asians.   Ã‚  Ã‚  Ã‚  Ã‚  When I asked Nusrat about the reason behind the scarcity of Pakistanis enrolled in art school, she agreed with Amy Tan’s comment about being â€Å"rebellious in nature and enjoy[ing] the challenge of disproving assumptions†(Tan, 264) Being brought up in Pakistan has given Nusrat an insight as to why there are so many restrictions on Pakistani children in their pursuit of art. The fact that being rebellious in nature has led both these artists to rise up and do what they desired is very stereotypical of artists, yet it has proven to be beneficial for both Tan and Nusrat.   Ã‚  Ã‚  Ã‚  Ã‚  Nusrat’s defiant nature has enabled her to explore horizons that are not normally delved into by Pakistani women. She is one of the first female artists from Pakistan who has dared to rise up and portray her artistic skills to the world. As I got up to leave the room where we sat for the interview, I could not help but wonder if this future interior designer and architect would be willing to design my future home.

Beach Activities Essay

When you go to the beach you can enjoy various activities either with your friend, family or couple. On sunny day you can lay on the beach and tanning you’re skin or swim in the ocean. Those are most common activity that people do in beach. You also can enjoy parasailing, fishing, diving, surfing, boating or build a sand castle and so on. These activities are available to do because of the climate. The areas of beach’s climate are mostly hot in the daylight hours and cool down a little in the afternoon. There is a wind from the ocean so even it is hot you still feel not sweaty but freshWhen you go to the beach you can enjoy various activities either with your friend, family or couple. On sunny day you can lay on the beach and tanning you’re skin or swim in the ocean. Those are most common activity that people do in beach. You also can enjoy parasailing, fishing, diving, surfing, boating or build a sand castle and so on. These activities are available to do because of the climate. The areas of beach’s climate are mostly hot in the daylight hours and cool down a little in the afternoon. There is a wind from the ocean so even it is hot you still feel not sweaty but freshWhen you go to the beach you can enjoy various activities either with your friend, family or couple. On sunny day you can lay on the beach and tanning you’re skin or swim in the ocean. Those are most common activity that people do in beach. You also can enjoy parasailing, fishing, diving, surfing, boating or build a sand castle and so on. These activities are available to do because of the climate. The areas of beach’s climate are mostly hot in the daylight hours and cool down a little in the afternoon. There is a wind from the ocean so even it is hot you still feel not sweaty but freshWhen you go to the beach you can enjoy various activities either with your friend, family or couple. On sunny day you can lay on the beach and tanning you’re skin or swim in the ocean. Those are most common activity that people do in beach. You also can enjoy parasailing, fishing, diving, surfing, boating or build a sand castle and so on. These activities are available to do because of the climate. The areas of beach’s climate are mostly hot in the daylight hours and cool down a little in the afternoon. There is a wind from the ocean so even it is hot you still feel not sweaty but freshWhen you go to the beach you can enjoy various activities either with your friend, family or couple. On sunny day you can lay on the beach and tanning you’re skin or swim in the ocean. Those are most common activity that people do in beach. You also can enjoy  parasailing, fishing, diving, surfing, boating or build a sand castle and so on. These activities are available to do because of the climate. The areas of beach’s climate are mostly hot in the daylight hours and cool down a little in the afternoon. There is a wind from the ocean so even it is hot you still feel not sweaty but freshWhen you go to the beach you can enjoy various activities either with your friend, family or couple. On sunny day you can lay on the beach and tanning you’re skin or swim in the ocean. Those are most common activity that people do in beach. You also can enjoy parasailing, fishing, diving, surfing, boating or build a sand castle and so on. These activities are available to do because of the climate. The areas of beach’s climate are mostly hot in the daylight hours and cool down a little in the afternoon. There is a wind from the ocean so even it is hot you still feel not sweaty but fresh.

Cherish the Children’s Thinking Essay

Do you think teachers should cherish the children’ s thinking? Most people think the teachers should treasure the children’s thinking and give the children a space to think freely. It is important for children to cherish their chance to think freely, because they may lose the imagination when they grow up. If all people in the world do not have imagination, this world would not have some new technology products and this society won’t progress. This world needs to keep the pace of progress because no progress is backwards, for example the gasoline is less and less in the world, if scientists can’t create a new energy, then gasoline will disappear. So, this world need to progress by imagination and creativity. The teachers should train and treasure the children’s imagination in order to develop this world and keep progressing. Nowadays, most people have lost the ability of imagining because they had seen too many real things, for example they can†™t believe there are some aliens in this world. However, the children believe that the aliens are real in the world because the children are naà ¯ve and willing to trust anything. Thus, teachers should cherish the children’s freedom to think and make their thinking positive in order to develop their own better, earn more academic knowledge and change their lives in the future. Firstly, in order to get a better development of children, the teacher should make children’s thinking more positive. Ho (2007) argues that the American education is not advanced, but it is better in other ways than other countries from the article called â€Å"We Should Cherish Our Children’s Freedom to Think†. (page112) He compares the education of him and his son and discovers they are very different. He had to memorize something about academic knowledge, for example the main cities in the world, lines for Hamlet and a number of math formulas. In contrast, his son studied ever ything by some experiences, for example he drew a map from his home to school and label every street and building he passed when he was six years old. (Ho, 2007, page112) He agrees this learning method because this kind of education can help the children develop their ideas and creativity. The children are the hope of world, so the teacher must use current and suitable methods to educate the children in order that children develop better. Secondly, if the teachers make students study in the process of playing games and answer the questions actively, the children will earn more academic knowledge. If the children’s ideas are accepted by their teachers and their teacher praise them, the children will keep their thinking and want to get more praise. In this case, the teachers should praise the positive ideas of the children and veto the negative thinking. Ho’s teachers answered the question and gave them a correct answer only when they asked, and he didn’t have a chance to make a decision in many cases. However, his son got a good laugh and an A grade from his teacher when he asked his teacher question and told his teacher his ideas. (Ho) And Ho’s son learned the knowledge of history through play the role. (Ho) Those are good ways to educate, b ecause this way can make the student more confidence, more interested in study and study more industriously. Thus, they will get more academic knowledge. Finally, the people will be able to change their life through some original ideas if they keep their imagination and creativity. Nowadays, this world needs more new products that can attract your eyeballs. If you have the abilities of imagination and creativity, you can change the world. For example Steve Jobs, who is a legend in the world, changed the whole world. Because of his ideas, he created many technology products called iPhone, iPod, iMac and so on. Those products all changed the habits of people, for example many people always put the iPhone in the hand and watch it. Thereforeï ¼Å'the people of the whole world are fond of his product designed by him. Then he had become a rich and excellent man. Thus, we should treasure the thinking of childrenï ¼Å'either kill the imagination in order that they can get a better life in t he future and change this world. In conclusion, American education can make children think freely. For example Ho’s son drew a map when he was six years ago. Special method that is to praise children and play the role can make children earn more knowledge. Keeping the children’s thinking may make them get better life and become a person who can change the world such as Jobs. I think most countries can change their system of education and the teacher should use other ways to educate children. They should respect the children’s ideas and do not kill their imagination and creativity in order that children develop better, earn more knowledge and change their lives and world.