Finance and Investment in International Tourism

  • François Vellas
  • Lionel Bécherel


Investments in the tourism industry are extremely capital-intensive because of the high cost of superstructure and equipment. Capital is tied up for long periods and returns on investment are very slow. The particular structure of investments in the tourism industry, similar to industries requiring heavy investment, needs to be taken into account in the strategic management of tourism firms.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 1.
    WTO, Directory: Multilateral Sources of Financing for Tourism Development Madrid, 1993.Google Scholar
  2. 2.
    Tourism Investment Guide published by the Tourism Council of the South Pacific, Suva, Fiji, 1992.Google Scholar
  3. 3.
    Study on European Funding for the Tourism Industry, internal publication, Surrey Research Group, Surrey University, England; 1994.Google Scholar

Further Reading

  1. Davis, H. D. and Simmons, J. A. ‘World Bank Experience with Tourism Projects’, Tourism Management, 3 (4), pp. 212–17, 1982.CrossRefGoogle Scholar
  2. Dyson, J. R. Accounting for Non-Accounting Students. London, Pitman, 1991.Google Scholar
  3. Kotas, R. Management Accounting for Hotels and Restaurants. Surrey University Press, 1991.Google Scholar
  4. Owen, G. Accounting for Hospitality, Tourism and Leisure. London, Pitman, 1994.Google Scholar
  5. United Nations Conference on Trade and Development (UNCTAD) The Outcome of the Uruguay Round: an initial assessment — supporting papers to the trade and development report 1994.Google Scholar
  6. UNCTAD, Trade and Development Report 1994.Google Scholar

Copyright information

© François Vellas and Lionel Bécherel 1995

Authors and Affiliations

  • François Vellas
  • Lionel Bécherel

There are no affiliations available

Personalised recommendations