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Zara Investment Holding
- 13 страниц
- 2016 год
- 69 просмотров
- 0 покупок
Гарантия сервиса Автор24
Уникальность не ниже 50%
Фрагменты работ
Tourism in Jordan is one of the most important branches of the economy of the country. Jordan is wonderful country, which is an extremely interesting and perspective direction in the mean of sightseeing, health-improvement and beach tourism. There are lots of sufficiently high service level hotels with an excellent service and the infrastructure, where tourists can be proposed with the very diverse leisure and entertainment.
The tourism sector of the Jordan’s economy is actively developing. At the moment, the output to the market of Great Britain - became its main and the most important achievement. Jordan is very claimed among the Europeans and the Americans. However, on the Russian market this direction is not widely spread and much known, furthermore it is very expensive. Many travel agencies often even do not propose Jordan for tourism, because many people associate it with those political problems, which are now urgent for the Arab Near East. However, all proceeding there has to Jordan no relation – this direction is absolutely safe, with peaceful government, oriented to the tourism.
The tourist market of the Jordan has large prospects and mass of the possibilities, which can increase Russian tourists in Jordan, which in the recent years, considerably decreased because of the military conflict, which occurred in immediate proximity from Jordan, and because of the currency fluctuations as well.
3. Financial analysis
Zara has firmly established itself as the linchpin of Jordan's tourism industry with its network of 5-star hotels and resorts that perfectly complement Jordan's sites and attractions.
In order to analyze the components that affect the business efficiency, we carried out the ROE decomposition, the decomposition of ROE to the components, describing various aspects of financial activity affecting the total score (ROE).
(1)
Due to the decomposition the result is a number of factors that affect ROE 9):
ROE = Tax burden x Interest burden x EBIT Margin x Turnover x Leverage (2)
ROE decomposition results for Zara Investment Holding in 2012 - 2014 are shown in Table 1.
Table 1 - ROE decomposition results for Zara Investment Holding in 2012 - 2014
Indicator 2012 2013 2014
ROE 0,81 -0,56 0,76
Tax burden 67,37 192,38 64,29
Interest burden 1 1 1
EBIT Margin 0,03 -0,01 0,03
Turnover 0,31 0,31 0,35
Leverage 1,42 1,36 1,29
As we can see from table 1, in 2013 ROE reached a negative value, but in 2014 the company almost managed to reach the level of 2012 for this indicator. In general we can see the company efficiency decrease during the review period.
Tourism in Jordan is one of the most important branches of the economy of the country. Jordan is wonderful country, which is an extremely interesting and perspective direction in the mean of sightseeing, health-improvement and beach tourism. There are lots of sufficiently high service level hotels with an excellent service and the infrastructure, where tourists can be proposed with the very diverse leisure and entertainment.
The tourism sector of the Jordan’s economy is actively developing. At the moment, the output to the market of Great Britain - became its main and the most important achievement. Jordan is very claimed among the Europeans and the Americans. However, on the Russian market this direction is not widely spread and much known, furthermore it is very expensive. Many travel agencies often even do not propose Jordan for tourism, because many people associate it with those political problems, which are now urgent for the Arab Near East. However, all proceeding there has to Jordan no relation – this direction is absolutely safe, with peaceful government, oriented to the tourism.
The tourist market of the Jordan has large prospects and mass of the possibilities, which can increase Russian tourists in Jordan, which in the recent years, considerably decreased because of the military conflict, which occurred in immediate proximity from Jordan, and because of the currency fluctuations as well.
http://www.zaraholding.com/
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