HBM 235 1st Edition Lecture 22 Outline of Last LectureI. The 5 PsII. Tourism Area Life-Cycle Model (TALC)- Richard Butler (1980)Outline of Current LectureI. Exam 3 ReviewCurrent Lecture-Exam 3 (Ch. 3, 4,5)-Exam 4 (Recycled quiz questions + Ch. 14)I. Exam 3 Review A. Bilateral Agreement1. Two countries pooling tourism marketing togetherB. Exploration stageC. Three components of the triple bottom line1. Sociocultual, environmental and economic outcomesD. Tourism Coordination1. Balance the needs of each aspect of community- groups in a destination E. Land Tenure1. Who can own land? Foreign investors can come in and buy land F. Multilateral travel agreement G. Rejuvenation stageH. Country tries to build new hotels for tourism1. Tourism operationsI. Company buys equity shares in stock1. Equity participation J. Decline stage 1. Arrivals are going down, people getting out, hotels turning into condos K. Architecture pollution L. Tariff remission- is when a government removes import duties on goods being shipped. M. Tourism legislation and regulationN. Bilateral
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