Skydiving Essay Example | Topics and Well Written Essays - 1000 words

Skydiving - Essay Example As the report declares the tourism industry in Kyiv has to entice more of such international tourists so as to generate higher revenues. Compared to group tourists, independent non-packaged or individual tourists spent more cash on meals, entertainment, gambling, lodging sightseeing and local transportation. Casino operators therefore have to focus on attracting more foreign independent tourists so as maximize their earnings. This paper stresses that Tobit analysis was employed to analyze the travel spending of Kyiv visitors. This technique was coined by Tobit. It was meant to estimate equations especially when a set of continuous observations on truncated criterion variable, usually at zero. This model poses two advantages first is that it presents efficient parameter estimates and the accurate estimates of the expected value of the variable. The second one is that it allows estimating both the market participation effect and the conditional quantity effect. The Tobit model used presented the below question to show the correlation between ith visitors’ daily travel expenditure on kth spending category and the independent variables. It is expected that the travel expenditure totals of Kyiv visitors have a positive relation to their per capita income and the people’s number in the party. Senior lecturers from the University of Kyiv helped in translating English questionnaire into simplified C hinese, Korean and French so as to ensure that most of the visitors literacy needs are satisfied. After the translation the questionnaire were verified by employees from Kyiv hotel and students together with staff members from the same university. After verifying the translation, 20 students pre-tested the questionnaire so as to validate it. The questionnaire had two parts designed to gather as much information as possible from the tourists. The first part based on the demographic, behavioral, socio-economic including entry mode, country of origin, party size,