Performance evaluation of tourism sector in Iraq
In this thesis the performance evaluation of tourism sector in Iraq is described and analysed. The research focuses on the measurement of financial, non-financial and economic performance related to tourism sector and to the enterprises which are operating in the tourist field in Iraq. As the purpose of the study is to examine and evaluate the performance of the state-owned enterprises in the tourism sector, other objectives are considered as well: - to assess the impact of tourism as an economic activity, relating to the balance of payments, employment, etc., in comparison with other productive sectors, - to define the performance criteria, financial and nonfinancial, which are necessary to the study, - to measure the performance of tourism enterprises empirically by building a model to explain the variation in financial performance of different enterprises and rank them, and - to construct a theoretical programme concerning the evaluation of tourism services from the customer's po int of view. The study covers the financial, non-financial and economic performance in detail. Financial performance is based on the traditional statements (balance sheet and profit and loss accounts) and afterward different ratios have been selected. A comprehensive model relating to factor analysis has been built. The model was used to measure the financial performance of different enterprises under investigation in the tourism field in Iraq. Non-financial performance is based on a suggestion programme which concern the quality audit of the services from the customer's point of view. Economic performance is based on the role of tourism in development and its impact on the economy in, for example, the balance of payments, employment, tourist multiplier effect. A systematic review of methodologies on financial evaluation led to identifying the most appropriate indicators of performance measurement: profitability, managerial performance, and liquidity. These cover all the financial aspects of tourism enterprises. By following factor analysis technique, we could classify and rank the enterprises under investigation into three groups: - Above-average performance enterprises. - Average performance enterprises. - Below-average performance enterprises. A review of financing methods in tourism sector including the theories of capital structure, and a case study to Hatra tourist project in Iraq.