Page 249 - GLOBAL TOURISM CHALLENGES IN 21st CENTURY
P. 249
2QH &XUUHQF\
-RKQ 0D\QDUG .H\QHV RQFH PXVHG WKDW QRW RQH PDQ LQ D PLOOLRQ ZDV DEOH WR
XQGHUVWDQG WKH SURFHVV E\ ZKLFK LQIODWLRQ GHVWUR\V ZHDOWK ,W LV DV OLNHO\ WKDW QRW RQH
ZRPDQ RU PDQ LQ WHQ PLOOLRQ XQGHUVWDQGV VSHFLDO GUDZLQJ ULJKWV RU 6'5V 6WLOO WKH
6'5 LV SRLVHG WR EH DQ LQIODWLRQDU\ SUHFXUVRU SDU H[FHOOHQFH 7KH 6'5¶V PL[ RI
RSDFLW\ DQG XQDFFRXQWDELOLW\ SHUPLWV JOREDO PRQHWDU\ HOLWHV WR VROYH VRYHUHLJQ GHEW
SUREOHPV XVLQJ DQ LQIODWLRQDU\ PHGLXP ZKLFK LQ WXUQ DOORZV LQGLYLGXDO JRYHUQPHQWV
WR GHQ\ SROLWLFDO UHVSRQVLELOLW\ 7KH 6'5¶V VWHDOWK TXDOLWLHV EHJLQ ZLWK LWV QDPH /LNH
)HGHUDO 5HVHUYH DQG ,QWHUQDWLRQDO 0RQHWDU\ )XQG WKH QDPH ZDV FKRVHQ WR KLGH LWV
WUXH SXUSRVH -XVW DV WKH )HGHUDO 5HVHUYH DQG ,0) DUH FHQWUDO EDQNV ZLWK GLVJXLVHG
QDPHV VR WKH 6'5 LV ZRUOG PRQH\ LQ GLVJXLVH 6RPH PRQHWDU\ VFKRODUV QRWDEO\
%DUU\ (LFKHQJUHHQ RI WKH 8QLYHUVLW\ RI &DOLIRUQLD DW %HUNHOH\ REMHFW WR WKH XVH RI WKH
WHUP PRQH\ DV DSSOLHG WR 6'5V YLHZLQJ WKH XQLWV DV D PHUH DFFRXQWLQJ GHYLFH XVHG WR
VKLIW UHVHUYHV DPRQJ PHPEHUV %XW WKH ,0)¶V RZQ ILQDQFLDO UHSRUWV UHIXWH WKLV YLHZ
,WV DQQXDO UHSRUW FRQWDLQV WKH IROORZLQJ GLVFORVXUHV 7KH 6'5 PD\ EH DOORFDWHG E\ WKH
,0) DV D VXSSOHPHQW WR H[LVWLQJ UHVHUYH DVVHWV ,WV YDOXH DV D UHVHUYH DVVHW GHULYHV
IURP WKH FRPPLWPHQWV RI SDUWLFLSDQWV WR KROG DQG DFFHSW 6'5V 7KH 6'5 LV DOVR XVHG
E\ D QXPEHU RI LQWHUQDWLRQDO DQG UHJLRQDO RUJDQL]DWLRQV DV D XQLW RI DFFRXQW
3DUWLFLSDQWV DQG SUHVFULEHG KROGHUV FDQ XVH DQG UHFHLYH 6'5V LQ WUDQVDFWLRQV DPRQJ
WKHPVHOYHV
$V PRQH\ LV FODVVLFDOO\ GHILQHG DV KDYLQJ WKUHH HVVHQWLDO TXDOLWLHV²VWRUH RI YDOXH
XQLW RI DFFRXQW DQG PHGLXP RI H[FKDQJH²WKLV GLVFORVXUH FOLQFKHV WKH FDVH IRU WKH
6'5 DV PRQH\ 7KH ,0) LWVHOI VD\V WKH 6'5 KDV YDOXH LV D XQLW RI DFFRXQW DQG FDQ
EH XVHG DV D PHGLXP RI H[FKDQJH LQ WUDQVDFWLRQV DPRQJ GHVLJQDWHG KROGHUV 7KH
WKUHH SDUW PRQH\ GHILQLWLRQ LV VDWLVILHG LQ IXOO 7KH DPRXQW RI 6'5V LQ FLUFXODWLRQ LV
PLQXVFXOH FRPSDUHG WR QDWLRQDO DQG UHJLRQDO FXUUHQFLHV VXFK DV WKH GROODU DQG HXUR
7KH 6'5¶V XVH LV OLPLWHG WR ,0) PHPEHUV DQG FHUWDLQ RWKHU RIILFLDO LQVWLWXWLRQV DQG LV
FRQWUROOHG E\ WKH ,0) 6SHFLDO 'UDZLQJ 5LJKWV 'HSDUWPHQW )XUWKHU 6'5V ZLOO
SHUKDSV QHYHU EH LVVXHG LQ EDQNQRWH IRUP DQG PD\ QHYHU EH XVHG RQ DQ HYHU\GD\ EDVLV
E\ FLWL]HQV DURXQG WKH ZRUOG %XW HYHQ VXFK OLPLWHG XVDJH GRHV QRW DOWHU WKH IDFW WKDW
WKH 6'5 LV ZRUOG PRQH\ FRQWUROOHG E\ HOLWHV ,Q IDFW LW HQKDQFHV WKDW UROH E\ PDNLQJ
WKH 6'5 LQYLVLEOH WR FLWL]HQV 7KH 6'5 FDQ EH LVVXHG LQ DEXQGDQFH WR ,0) PHPEHUV
DQG FDQ DOVR EH XVHG LQ WKH IXWXUH IRU D VHOHFW OLVW RI WKH PRVW LPSRUWDQW WUDQVDFWLRQV LQ
WKH ZRUOG LQFOXGLQJ EDODQFH RI SD\PHQWV VHWWOHPHQWV RLO SULFLQJ DQG WKH ILQDQFLDO
DFFRXQWV RI WKH ZRUOG¶V ODUJHVW FRUSRUDWLRQV VXFK DV ([[RQ0RELO 7R\RWD DQG 5R\DO
'XWFK 6KHOO $Q\ LQIODWLRQ FDXVHG E\ PDVVLYH 6'5 LVVXDQFH ZRXOG QRW LPPHGLDWHO\
EH DSSDUHQW WR FLWL]HQV 7KH LQIODWLRQ ZRXOG VKRZ XS HYHQWXDOO\ LQ GROODUV \HQ DQG
HXURV DW WKH JDV SXPS RU WKH JURFHU\ EXW QDWLRQDO FHQWUDO EDQNV FRXOG GHQ\
UHVSRQVLELOLW\ ZLWK HDVH DQG SRLQW D ILQJHU DW WKH ,0) 6LQFH WKH ,0) LV QRW
DFFRXQWDEOH WR DQ\ HOHFWRUDO SURFHVV DQG LV D VHOISHUSHWXDWLQJ VXSUDQDWLRQDO
RUJDQL]DWLRQ WKH EXFN ZRXOG VWRS QRZKHUH 7KH 6'5¶V KLVWRU\ LV DV FRORUIXO DV LWV
H[SHFWHG IXWXUH ,W ZDV QRW SDUW RI WKH RULJLQDO %UHWWRQ :RRGV PRQHWDU\ DUFKLWHFWXUH
DJUHHG WR LQ ,W ZDV DQ HPHUJHQF\ UHVSRQVH WR D GROODU FULVLV WKDW EHJDQ LQ
DQG FRQWLQXHG LQ VWDJHV WKURXJK 'XULQJ WKH %UHWWRQ :RRGV V\VWHP¶V HDUO\
GHFDGHV IURP WR LQWHUQDWLRQDO PRQHWDU\ H[SHUWV ZRUULHG DERXW D VR FDOOHG
GROODU VKRUWDJH $W WKDW WLPH WKH GROODU ZDV WKH GRPLQDQW JOREDO UHVHUYH FXUUHQF\
HVVHQWLDO WR LQWHUQDWLRQDO WUDGH (XURSH¶V DQG -DSDQ¶V LQGXVWULDO EDVHV KDG EHHQ
GHYDVWDWHG GXULQJ WKH 6HFRQG :RUOG :DU %RWK (XURSH DQG -DSDQ KDG KXPDQ FDSLWDO
ϮϰϮ

