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Journal of Travel Research
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What's this?

Taking the Mystery Out of Travel and Tourism Investment Decisions

Michael J. Etzel

Philip R. Swensen

This article discusses investment decision making for the non-financial executive. Bases for realistic estimates of cash flows are presented, and the method of discounting these cash flows using interest rates is discussed. The aim is to allow the non-financial executive to ask informed questions about proposed investment projects.

Journal of Travel Research, Vol. 20, No. 2, 24-28 (1981)
DOI: 10.1177/004728758102000204
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