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Organic food sourcing, processing and distribution: a case of satisfying a growing market
5-10Views:464A case study of an organic food company in the Slovak Republic involved in producing and sourcing inputs, food processing and distribution is presented. The case is based on a June 2014 “live” case study prepared for students in International MBA in Agribusiness programs at the Slovak University of Agriculture in Nitra, Warsaw University of Life Sciences and the National University of Life and Environmental Sciences of Ukraine, Kiev. The company was established in 2001 with the objective to bring organic food to health conscious consumers. The company grows organic spelt grain, wheat, rye, buckwheat, herbs and apples on its 156 ha and 400 ha of owned and rented farmland. The company further processes these crops into more than 40 finished products. Students are presented with company information and summaries of a company visit and discussions with management. Students perform PEST and SWOT analyses, identify a shortage of owned and leased land as a problem the company must address, conduct research and analysis, and recommend product specification contracts as a solution to the problem.
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ARTIFICIAL INTELLIGENCE IN THE CORPORATE SECTOR
Views:359Humanity has made huge progress over the past millennia. We are working with technologies, robots that not only help us to work accurately, efficiently and quickly, but they work in a similar way to the human brain: they perceive, think, learn and solve problems.
In my research, I will focus on artificial intelligence, which is becoming more and more popular nowadays, looking at its past, present and future, its main trends in the corporate sector, and how it threatens people's job opportunities.
At the same time, one of my research objectives is to investigate how much the development of a country is related to the uptake of AI in the European Union, which I will test with correlation analysis, taking into account indicators of artificial intelligence penetration in the corporate sector from one side and the various AI indicators such as digital penetration, internet usage, computer culture, and economic indicators as GDP per capita from the other side.
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A study on consumer habits in the dietary supplements market
5-12Views:1292There has been a continuous increase in the proportion of consumers using dietary supplements worldwide. Evidence based on former surveys suggests that in Hungary more than half of the population buy at least one type of dietary supplement (hereinafter DS). By using secondary research, the authors of the present paper examine the demographic factors determining the consumption of DS on a global scale. Consumption of DS increases with age and is more frequent among women. Consumers with higher qualifications and income tend to buy products containing vitamins and minerals to a greater degree. In the vast majority of cases the purchase and consumption of DS is based on consumers’ personal preferences and decisions, rather than on their physicians’ advice. It has been found that a high percentage of DS consumers probably do not even need any extra nutrient intake. In our primary research (N=1000) the specific attitudes to and characteristics of DS consumption among Hungarian adults are analysed on the basis of on a nationally representative survey. First, we identify the most important reasons which encourage consumers to buy DS. Consumer awareness concerning DS with a particular vitamin and mineral content and of other sources is examined, and we also assess the consumption of the product which is the most popular. The current paper attempts to identify the outlets Hungarian consumers typically buy DS from, and also what resources they use to keep themselves informed about these products. Consumers who admittedly reported (regular) consumption of a certain kind of DS product 6 months prior to the survey are further examined in relation to certain additional issues. The results of our survey provide an accurate picture of the DS consumption habits of the Hungarian population.
JEL CODE: I12, M31
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Impact of CAP’s pillars on Romanian rural employment
75-80Views:269This paper aims to clarify the direction of change in rural employment on short- and medium term in Romania, while CAP regulations are being introduced and the global economic crisis emerges. First we put into evidence the decrease of the role of agriculture as buffer for unemployment and the poor contribution of non-agricultural activities to provide employment for rural residents.Then we analyse the main characteristics of the rural labour force. Finally we synthesize the opinions expressed by 33 consultants (working at the Offices for Agricultural Consultancy from different counties in Transylvania) about the estimated short term evolution of rural employment and the impact of CAP on Romanian rural areas.
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MONTE CARLO SIMULATION FOR STRESS TESTING ENDOGENOUS PROFITABILITY FACTORS DURING POLYCRISIS: A CASE STUDY FROM THE POULTRY SUBSECTOR
Views:71Can historical company data help estimate future performance during economic uncertainty? This study investigates whether past business cycles can be used to estimate profitability in the context of a polycrisis – a period marked by overlapping disruptions such as avian influenza, COVID-19 trade restrictions, extreme weather events, and rising feed and energy prices. These shocks have severely impacted agro-related industries, such as poultry processing. Focusing on three Central European poultry processing companies, we use Monte Carlo simulations for stress testing their profitability for the 2023 period, aiming to support financial planning by analysing firm-specific, endogenous, management-controllable factors. Return on Sales (ROS) and Return on Equity (ROE) are used to evaluate profitability, incorporating variables such as euro exchange rates in the case of export-driven firms. Our results indicate that Company “A,” characterized by stable operations, had the lowest probability of negative ROE, while Companies “B” and “C” demonstrated greater volatility. We found that the model provides a good estimate of the factors affecting the companies’ profitability that are directly or indirectly reflected in their accounting data. Indicating that the test could be a valuable tool for supporting managerial decision-making in financial planning, though further refinements are needed to enhance accuracy.
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Educational projects – support for development of tourism and rural areas in Serbia
65-69Views:315The paper presents three mini-projects that have been implemented by The Institute of Agricultural Economics – Belgrade in the 2006–2008 period. Those were special educational projects in agriculture and rural development, whereas extension activities were concentrated onto three topics: farm management, support of rural development and improvement of small farms. Implementation of projects took place on the territory of the South Banat County and some Belgrade city communes. The projects intended to solve current problems of sustainable agriculture and rural development. Within the projects there were identified priorities related to investments, strategic planning and tourism. Educational activities were aimed at a number of holders or members of their registered farms. Dynamics of the projects' implementation included introduction and discussion with a number of farmers, formation of small groups, preparation and making of materials, a series of theoretical lectures and determination of the joint work results. Education programs are aiming at improvement of the farm holders' knowledge in the field of business and management. Specific objectives of training are to increase sales of goods and services at domestic and foreign market, to increase competitiveness in a particular market, to achieve higher profits, to create new jobs and improve living conditions in rural areas. Evaluation of projects was related to determination of level, to which there were achieved set objectives, then to define implementation of projects in accordance with the plan, as well as to determine an impact of educational activities to promotion of knowledge concerning business and management.
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Key aspects of investment analysis
53-56Views:1111This paper reviewed principally accepted methods applied to investment analysis. To describe every aspect of investment analysis fully would require far more space than available here, so we highlight only of few of its aspects. This study collects several well-known bibliographies, contrasts them with each other and provides explanations for having done so. There are many questions about which authors and companies agree, including about how to apply certain methods, but on others there is disagreement. Four dynamic methods (Net Present Value, Internal Rate of Return, Profitability Index, and Discounted Payback Period) are demonstrated from the viewpoint of application. Moreover, this study clarifies several sensitive questions, such as handling income taxes, inflation and uncertainty. Other examined issues are only mentioned at the end of this paper, and we will publish on these more thoroughly at a later date.
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Performance imbalances in the chain: EU traditional food sector
7-11Views:304Organizations nowadays no longer competeas independent entities, but as chains(Christopher, 1998; Cox, 1999; Lambertand Cooper, 2000). Hence, being part of a well-performing chain is crucial for the future of the individual food firm, especially in the context of the globalizing economy. As a result, the objective of this study is to identify performance imbalances of traditional food chains.Therefore, quantitative data were collected via individual interviews with 271 chain member (91 suppliers, 91 focal companies and 89 customers) of 91 traditional food chains from three European countries(Belgium, Italy and Hungary), representing six different traditional food product categories (cheese, beer, ham, sausage, white pepper and bakery). The results differentiate six different kinds of chain imbalances, namely: dyadic upper and lower, up-and down stream, internal and external indicate both dyadic and chain-wise imbalance. Most chain imbalances are noticed in relation to lowering logistic costs and to reducing lead time. Future research should extend the list of performance indicators with parameters other than economical ones such as ecological and social ones.
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Agriculture in the Netherlands: Its recent past, current state and perspectives
129-134Views:287The driving forces that determine the prospects of the agricultural sector are dominated by international and European developments related to the demand for and supply of products. In this context, European policy, (such as the CAP), and national policy (e.g. nature management) can greatly influence the development of the agricultural sector.A further reduction of the support by the government forms an important element in the expected future developments.
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Diversification strategies and their impact on farm performance
57-61Views:317The objective of this study is to identify factors determining the economic performance of agricultural holdings in Italy, with specific attention to the impact of the adoption of on-farm diversification strategies, namely income diversification and product differentiation. The adoption of these kinds of strategies has been increasingly recognised as a viable business option in agriculture as they allow better allocation of farm resources and an increase in the quota of value added retained on farms and therefore not passed on to other agents operating at the end of the food supply chain. By using a panel of professional Italian farms over the time period of 2003-2009, we estimate random effect, ordinary least square and quantile regression models to estimate the impact of income diversification and product differentiation strategies on the levels of farm income per unit of labour income. Our findings show that scale economies are important positive determinants of farm economic performance. On the contrary, when the family play an important role in the farm business, economic performance is worse. Finally, we do not find evidence of a statistically significant impact of the adoption of income diversification and product differentiation strategies. This latter result may be interpreted as a signal that farms use these strategies as risk management tools rather than as income increasing ones.
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Protected geographical indication recognition and willingness to pay: A case of grojec apple
73-80Views:376The Grojec region of Poland is an important region for apple production and accounts for 40 percent of domestic apple production. Apple growers from the region made an attempt to strengthen their competitive position through registering their apples as Protected Geographical Indication (PGI) products. The European Commission’s PGI allows food producers to obtain market recognition and a premium price for their products. Although the Grojec Apple received PGI registration in 2011, little has been done to promote apples with the PGI label. Two important research questions are addressed: 1) Does the Polish market recognize Grojec Apple PGI, and 2) Does the market value Grojec Apple PGI? Logit and regression models are estimated using survey data collected during an International MBA in Agribusiness and Commerce study week in Warsaw. Only 22% of consumers recognize Grojec Apple PGI. Yet, 70% of consumers indicate they are willing to pay more for the product and their average willingness to pay (WTP) premium is 32%. Results indicate use of the PGI label may be effective in improving sales and profit margins for Grojec Apple producers and their affiliated cooperatives. Older consumers are more likely to indicate a WTP premium. Males, smaller households, and consumers less sensitive to apple price indicate a higher WTP premium. An advertising campaign promoting Grojec Apple PGI as a better product may be effective at increasing consumer likelihood to pay more and WTP premium. Although “Grojec” is already familiar to most consumers in central Poland as a region for apples, a Grojec Apple with PGI label would assure consumers they are purchasing apples from the Grojec region and the apples are high quality.
JEL Code: D12, Q13, Q18
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Agribusiness higher education development – ahead: The project results at a glance
95-98Views:348his booklet that has caught your attention contains basic information about the AHEAD project sponsored by the EU’s TEMPUS grant. This project was carried out between University of Zagreb (and other Croatian partners) and four EU-based universities. The project was very ambitious and it is my pleasure to state that the great majority of the objectives were carried out with high quality during the 3 years project time span. The main results of the AHEAD project can be found in this booklet, and I would like to mention just a few of them:
• A new MBA training started in Zagreb with international recognition
• 61 subjects of 3 BSc/MSc trainings were reviewed and modified,
• a study was created in order to determine the short – and long – term expert demand of the Croatian national economy,
• computers, equipment and modern textbooks were purchased from European grant and
• finally a personal note: it was spectacular to see the rapid development of University of Zagreb and generally the whole Croatia during the last 3 years. If our project contributed just a little bit to it, the effort certainly was worthwhile. -
The role of beekeeping in production of oil crops
77-82Views:350Production of sunflower oil are expected to serve larger and larger extent – over the demand of food industry and chemical industry – biofuel production. This could be especially true for that areas where climate is not allowed to grow winter rape safely and economically. Ecological role of honey-bees can be considered undoubtful in preservation of biodiversity of flora and fauna. I analyse the following problems in our study:
• What is the significance of oil plants in European and Hungarian energy production?
• How influence pollination the yields and the safety of production of oil plants?
• What is the role of oil plants in the development of production structure of beekeeping?
• What are the economical advantages of the above-mentioned effects? -
LAND CONTROL AND POVERTY STATUS OF FARMING HOUSEHOLDS IN NIGERIA
Views:316Poverty is pervasive among the majority of farming households in Nigeria, particularly affecting small-scale farmers. Having gained access to land, control over the land held is very important in improving the quality of life as it plays a vital role in poverty reduction among small scale farmers. This study examined the relationship between land control and poverty status of farming households in Nigeria. The Nigeria General Household Survey (GHS) 2018 was used. Analytical tools used include descriptive statistics, Land Control Index (LCI), Ordered probit regression and Logit regression models. From the results, majority of the Nigerian farmers were male (84.6%) with a mean age of 50±15years, and 81.1% were married, having a mean household size of 7±4 persons. The mean farm size held by the households was 4.42±14.9ha. Farming households had access to the highest proportion (62.79%) of their plots by inheritance, still showing the dominance of inheritance as a means of land access in Nigeria. Also, households had access to 11.80% of the plots by outright purchase, 11.20% by rent in cash or kind (farm produce), and 0.64% by sharecropping; these underscore the growing rural land market in Nigeria. Majority (88.8%) of the households had no control over all the plots of farmlands held (LCI=0) while 6.03% had total control of the plots of farmlands held (LCI=1). This implies that majority can only carry out farming activities (having use right) on the farmland and did not possess legal documents for the land (not able to dispose of the land). The mean household expenditure on food and non-food were ₦8,609.37 and ₦12,587.08, respectively. The mean total expenditure was ₦18,809.20(±10444.45) and the poverty line was ₦8,433.34. The poverty incidence was 41.03%; 41.03% were poor while 58.97% were non-poor. Location of household in the rural sector, especially in the North East, South West, and South East, was significantly positive in determining the level of land control by farming households at 1%. At 10% level of significance, low land control (HCI≤0.25) and medium land control (HCI=0.51-0.75) would significantly increase the likelihood of the household being non-poor by 27.4% and 33.6%, respectively. Land control positively influences the poverty status of the farming households in Nigeria; farming households with low land control can increase their chances of being non-poor. Rural farmers should be encouraged to obtain legal documents on their land to facilitate higher level of control.
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Comparison of consumption and purchase habits for University students for industrially kept pigs and mangalica pigs
Views:379The aim of the study is to compare the preferences for the purchase and consumption of industrially kept pigs and mangalica pigs. The research was conducted among the students of the Faculty of Economics and Business of University of Debrecen in October 2019, in the form of an online questionnaire. Descriptive statistical methods, chi-square tests, Spearman rank correlation indexes, factor analysis and two-step cluster analysis were used to analyze the data obtained from the survey. Based on the results, it can be said that there are differences in consumer perceptions of industrially kept pigs and mangalica pigs among a number of sociodemographic factors. Factor analysis was used to delimit three factors in the case of industrially kept pigs (“domestic-branded-fresh product” aspects, factors related to health awareness, aspects of a marketing nature), while in the case of mangalica pigs one factor was identified. Next, I used a two-step cluster analysis using the isolated factors, where several sociodemographic variables were tested. The best fit was shown by the combination of gender and highest educational level. Based on these, it can be concluded that in the case of industrially kept pigs, the factors considered in the purchase were the most important for women and men with higher education in the case of two factors (“domestic-brand-fresh product” aspect and marketing aspects) and for mangalica pigs. While in the case of industrially kept pigs, the third factor (factors related to health awareness) that were taken into account in the purchase proved to be the most important for men with a secondary education.
JEL Code: I12, M31
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The institutional determinants of bilateral Agricultural and food trade
53-57Views:307The paper investigates the effects of the institutional determinants on trade in agricultural and food products among the OECD countries using a gravity model approach. We focus on the impact of the quality of governance and the similarity of institutions in explaining variation in bilateral agricultural and food trade patterns. Results confirmed the separate effects for the institutional similarity and the institutional quality on trade patterns. The institutional similarity has positive and significant impact on trade in a similar institutional framework for agricultural, but less for food products. The institutional quality has significant positive impact on trade in both agricultural and food products for importing countries.
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Certain elements of population retaining ability and the ability to economically provide for a population of the countryside
81-88Views:270According to the data of population density, most of Hungary’s territory has rural features. Achieving EU supports in order to focus on developing the most underdeveloped communities, and in order to lessen the differences between communities, to establish priorities and to determine the rank of rural communities based on their development potential is necessary.The need of measurability arises because of comparison and classification.A possible target area is an analysis of population retaining ability and the ability to economically provide for a population of rural areas.
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Significance of wheat production in world economy and position of Hungary in it
115-119Views:465This article intends to introduce the significance of wheat production in world economy and role of Hungary in it on the basis of statistic database of FAO. Importance of wheat production in world economy is proven by its share of 15% from 1500 million hectares arable land in the world. This rate is equivalent to 225 million hectares of wheat area based on FAO figures for 2009. From its world economy significance view point, on the basis of some significant features it sets order of ranks among wheat producing countries, accompanied by Hungary too. Setting of rank orders is based on the quantity of wheat produced by countries, cultivated area and exported, imported wheat quantity. As regards wheat export in 2008, Hungary was placed as 11. in the world while on the basis of produced quantity and cultivated area it did not achieve any of top 20 countries. Wheat import of Hungary is negligible since its wheat production is greatly over the self-sufficiency level in one production year. Our logistics disadvantages indicate one of considerable difficulties of market access for primary materials in domestic plant production.
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Investigation of the effect of flooring on the living performance of sows using survival analysis
99-102Views:249Pig-farming has a long tradition in Hungary, most significantly within the Alföld region. In my analysis I studied the lifespan of sows in two nucleus pig herds on the Great Plain, also examining the probability of the occurrence of different reasons for culling. During my research I collected data (from 2001 to 2010) relating to more than 10,000 sows from the farms conducting a breeding programme and I searched for the answer to the question of whether can I find a significant difference in the lifespan of sows with the same feeding and the same genotype if the floor type of farms is different (Herd A has a solid floor with straw and Herd B has a slatted floor). Regarding the reasons for culling ANOVA was used to investigate mean differences in logarithms of the lifespan of sows in each herd. Between the herds the seven most common culling reasons were estimated with the Kaplan-Meier method and the significant difference was demonstrated with the logrank test. The results of the log-rank test showed that there was a significant difference in leg problems as a cause of culling and deaths (p < 0.05) between the two farms, which is the consequence of different floor types.
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Cognitive dimensions of subjective quality of life in Hajdú-Bihar county
131-135Views:284The objective of the present study is an investigation of the objective and subjective factors of life quality. Researchers and political leaders show increasing interest in the question: on what grounds do people judge their quality of life, what satisfies or makes them happy? Do we subconsciously make some kinds of mathematical calculations weighing our results achieved in certain areas of life to assess how we are getting on? Or rather we use one “indicator” (e.g. money, number of friends, professional recognition) and we assess our situation accordingly? These issues necessarily emerge when it comes to the consideration of the quality of life. Among factors determining life satisfaction, earnings, employment, health and relationships play significant roles. Therefore, on the leading edge of this research are primarily the cognitive factors of life quality, i.e. external factors influencing satisfaction. The present study also seeks to identify the role of health tourism in the assessment of the quality of life. Questionnaires were completed in one of the most popular tourist destinations of Hajdú-Bihar County. The 805 local respondents expressed their views primarily about factors determining their well-being and about the impacts of the dominant presence of health tourism on their lives.
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Effect of Quality Assurance Deficit on Market Competitiveness for Export Commodities and Household Income in Nigeria
103-108Views:254The Nigerian’s agricultural sub-sector contributes about 37 percent of her Gross Domestic Product (GDP) and employs about 65 per cent of the adult labour force. It is thus the major source of food and fibre for the nation. However, there are increasing concerns about the quality and level of safety of many of the agricultural export commodities, particularly in the European markets due to the composition of high level of unauthorized pesticides. This is a major challenge to the level of market competitiveness for these commodities in the international markets. This study therefore examined the effect of quality assurance deficit on market competitiveness and household income levels. Trends in Nigeria’s agricultural export trade between 1980 and 2014 were examined and emphasis was placed on cowpea, dried maize, melon seeds and palm oil. Descriptive and qualitative statistical methods were used to analyze the data. Quantitative statistics included the use of econometric models. Results indicated that there was an increase in the general price level of the commodities at the international market over time. The aggregate market demand for each of them dropped sharply in the last one decade even when the market price per unit increased steadily. This negatively affected the households’ average income level as returns on sales of export commodities declined. Huge quantities of the commodities were then forced to be sold at the local markets at cheaper prices. This development negatively affects the consumptions patterns of the exporters as they now have reduced disposable income. Appropriate agencies of government need to be awake to their responsibilities of assessing and certifying the quality of the Nigerian agricultural commodities before exporting them abroad. This will help to further boost the level of consumer confidence in these export commodities especially at the international markets.
JEL Classification: Q13
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The connenction between global innovation index and economic well-being indexes
87-92Views:863We study the connection of innovation in 126 countries by different well-being indicators and whether there are differences among geographical regions with respect to innovation index score. We approach and define innovation based on Global Innovation Index (GII). The following well-being indicators were emphasized in the research: GDP per capita measured at purchasing power parity, unemployment rate, life expectancy, crude mortality rate, human development index (HDI). Innovation index score was downloaded from the joint publication of 2018 of Cornell University, INSEAD and WIPO, HDI from the website of the UN while we obtained other well-being indicators from the database of the World Bank. Non-parametric hypothesis testing, post-hoc tests and linear regression were used in the study.
We concluded that there are differences among regions/continents based on GII. It is scarcely surprising that North America is the best performer followed by Europe (with significant differences among countries). Central and South Asia scored the next places with high standard deviation. The following regions with significant backwardness include North Africa, West Asia, Latin America, the Caribbean Area, Central and South Asia, and sub-Saharan Africa. Regions lagging behind have lower standard deviation, that is, they are more homogeneous therefore there are no significant differences among countries in the particular region.
In the regression modelling of the Global Innovation Index, it was concluded that GDP per capita, life expectancy and human development index are significant explanatory indicators. In the multivariable regression analysis, HDI remained the only explanatory variable in the final model. It is due to the fact that there was significant multicollinearity among the explanatory variables and the HDI aggregates several non-economic indicators like GII.JEL Classification: B41, I31, O31, Q55
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Mitigation activities to reduce emission of agricultural greenhouse gases in Hungary
115-119Views:285Pressure on natural resources and the global environment have been identified as the most important challenges to maintain prosperity and improve environmental care. Agriculture is responsible for only a small proportion of carbon dioxide (CO2) emissions, but the sector is more closely associated with emissions of other greenhouse gases such as methane (CH4) and nitrous oxide (N2O). The global warming potential of agricultural activities defined as greenhouse gas (GHG) emissions in CO2 equivalents is relatively low in Hungary, when calculated per land area. However this difference decline, when a GHG emission is calculated per product unit, as yields are lower then in West European countries. Environmental load caused by agriculture is also low in Hungary, where increasing part of EU resources are used for the long-term preservation of natural resources and for the raising of awareness of sustainable farming. The strength of the environmental situation of Hungary, consist of several elements, such as the rich bio-diversity, the significant size of territories falling under natural protection, the extent and importance of forests and the low environmental load from crop production. Among the weaknesses the nitrate load of the animal husbandry farms, the increasing water and wind erosion, the soil compaction and degradation have to be taken into consideration. Climate change has high risk potential and the mitigation activities of the New Hungary Rural Development Programme (HRDP) are investigated in this paper with the aim to increase mitigation activities in rural area and reduce the causes of climate change.
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Impacts of the global financial and economic crisis on the agro-food industry and rural livelihoods in Serbia
113-118Views:312Sixty-five per cent of the Serbian land area is agricultural and 55% of the population is rural.Agriculture share of GDP is more than 10% and about 47% of the rural labour force deals with agriculture. The aim of this work is to analyse the impacts of the global financial and economic crisis on the Serbian agro-food sector and rural communities. Measures introduced, mainly by public institutions, for relieving the consequences of the crisis are presented and discussed. Easily accessible yet high quality data from the central Office of Statistics in Serbia and specialized literature have been used. Impacts have been assessed by analyzing and discussing the trends of many socio-economic indicators. The crisis has had general impacts on the Serbian economy (low GDP growth, unemployment increase, price volatility, purchasing power decrease, etc.). Due to the crisis growth in agricultural production has been very low (0.1% in 2009). Agro-food exports decreased dramatically in 2008. About 9000 agricultural jobs were lost in 2008 and 2009. Reduced exports and lower domestic demand impacted negatively on agricultural commodity prices and agricultural household incomes.Access to credit became more difficult especially for small producers. However, agriculture is still a very important safety net. Agricultural employment share has increased both for men and women. The importance of agriculture is even higher if we consider the “grey agricultural economy”. To mitigate the crisis effects, the Government provided subsidies to rural people and will adopt the National Strategic Plan and Programme for Rural Development. Nevertheless, public institutions - in partnership with private, civil society and international organisations - should improve rural producers’ access to market information and credits and foster investments in rural areas including non-agricultural ones and those aiming at improving physical capital.
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Studying satisfaction and spending willingness of guests visiting spas and thermal baths in the Northern Hungarian Region
125-133Views:281In my study I will show the opinion of the guests familiar with seven thermal baths of the Northern-Hungarian Region (such as Eger Thermal Bath, Eger Turkish Bath, Egerszalók Salt Hill Thermal Spa, Demjén Thermal Bath, Bogács Thermal Bath and the Cave-Bath of Miskolc-tapolca) about the medical supply elements, about the price-value rate of supply elements in the thermal bath, and also the spending willingness of the guests in relation to age and earns. From the data I calculated mean, SD and spectrum and examined the crosstab correlations as well, and the Cramer’s V associate coefficient. The results of the correlation tests could be summarised as the following: Guests regardless financial state and age give grade 4 to price/value ratio, but despite their positive judgement spending is not characteristic (most guests spend nothing additional besides admission fee, if so, they do not exceed the 5000 forint amount) even among those who belong to the ’upmarket’ category. Both younger and elderly guests can be characterised with the economical approach, i.e. “Make both ends meet” although seemingly they could extend these “ends”.
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