You are on page 1of 103

A study on the economic impact of tourism in the Philippines was undertaken in response to the request of the Government of the

Philippines with financial assistance from the Government of Japan. The report was prepared by Ms. Evangeline M. Ortiz and Ms. Miguela M. Mena, Consultants. The views expressed in the report are those of the authors and do not necessarily reflect those of the United Nations. The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. This document has been issued without formal editing.

CONTENTS Page
EXECUTIVE SUMMARY
The General Philippine profile economic of the Philippine performance tourism industry...

1.

1.1 OVERVIEW... 1.2

3 3 4

2.3 2.2 OBJECTIVES 2.4

Objectives Sectoral Data Definition

availability AND coverage of

terms SCOPE

in

the

OF tourism

THE

sector STUDY 2.1

8 8 9 9

3.

3.1 METHODOLOGY... 3.1.1 3.1.2 3.1.3 3.1.4 Input-output

Modified RAS 1988 1985

table adjustment (Base-Year) 1-0

RAS update updating

method

method 1-0

exercises table

...,.""""

,.,

'

"

"

...

10 10

11
12

1313

4.1 4.5 4.3 4.6 4.7 4.2 PATTERNS 4.4

4.7.1 4.7.2 The Length Foreign Purpose Expenditure Domestic I nt

roduct

travel

OF

4.7.1.1 4.7.2.1 Trends 4.7.1.2 Regional of visitor ion of

tourism TOURISM stay accountvisit

by

arrivals in foreign

accommodation regional Volume Regional Seasonality in

IN the

visitors

THE

balance visitor and

distribution

PHiliPPINES pattern distribution

arrivals facilities of

payments

of

of

regional

accommodation of

regional

arrivals

travelers

establishments

15 15
15

16
18 18

19
19 19

19
20 20 20
4.7.3 4.7.3.1 4.7.2.2 4.7.2.3 4.7.3.2 4.7.3.3 4.7.3.4 4.7.3.5 Demographic Sex Age Occupation Education Purpose Room Occupancy profile supply. of of training visit rates regional travel ' '

21 22 22 22 23 23 23 23

1 2. 4.

CONTENTS

(continued)

Page
4.7.3.6 4.7.3.7 Length of stay. 23 23 ECONOMY IN 1988...

Expenditure ...
OF THE PHiliPPINE
industry

5.

STRUCTURAL
5.1 5.2 5.3 5.5 5.4 linkages Supply Domestic Production Output disposition and

ANALYSIS
of production. cost demand the tourism structure

24
24 24

patterns situation

25
26 28

6.

ANALYSIS
6.2 6.3 6.5 6.6 6.4 Introduction. 6.6.1 Tourism Tourist Summary Tourist 6.6.2 6.6.3 Impact

ON THE ECONOMIC
6.6.3.1 receipts, 6.6.3.2 expenditure summary Impact Impact in of relation findings... on of 1980-1990 final analysis income employment Labor Labor-output to patterns, other demand multiplier

IMPACT OF INTERNATIONAL
top 1980 on exports ratios production coefficients and 1988

TOURISM

6.1

32 32 32 32 33 34 37 38 40 42 42 46

,...

CONCLUSION

6.6.4 6.6.5

6.6.3.3 Impact Impact

AND

onRECOMMENDATIONS import netDirect

indirect

costs and

indirect taxes

employment

impact

46

46 50 54

ii

7.

1
6.1 5.1 6.7 5.2 4.12 6.4 4.9 4.4 1.1 1.2 4.3 4.2 4.8 4.7 4.6 4.5 5.4 4.10 4.1 6.6 6.5 6.3 6.2 5.6 5.5 5.3 4.11 Total Summary Sectoral Foreign Production Disposition Impact Regional Tourist Philippine Export Visitor Supply Regional Regional Regional Breakdown Travel Room Visitor Visitor Ten Production Composition Sectoral Tourism Travel principal (direct occupancy receipts arrivals arrivals of and receipts and arrivals credits tourist and distribution forward-backward distribution distribution final visitor visitor findings visitor cost pattern import demand of cost and other of exports, total and demand to expenditure to to and outputs, arrivals, structures, structures in arrivals, indirect) arrivals the the the rates data, of exports the debits, average of gross situation, of economic of of Philippines Philippines outputs... Philippines, Philippines, 1988 final on rooms by accommodation 1988 1988 January-December by and effects domestic 1986-1990 production type of 1988, patterns, linkages, demand 1988 quarter daily tourism-oriented tourism in 1988 impacts, of accommodation of by by at expenditure 1980-1989 accommodation 1980-1989 foreign product, origin, current (1988) origin, by 1980 1988 (output), receipts component, establishments, 1988 & tourist 1980-1989 1980.1989 prices 1980-1990 1988 1988 of sectors, 1963.1987 1988

6.12

6:11

6.10

6.9

6.8

Labor-output

Sectoral

Impact

Impact

Impact

1988

of

of

of

impact

final

foreign

final

ratios...

demand

demand

of

tourist

final

on

on

demand

expenditures

employment

components

on

income

on

generation,

of

LIST OF TABLES

LIST OF FIGURES

Organizational structure of the Department of Tourism ...

iii
33 30 21 26 25

income,

value

(GDP),

added,

foreign

establishments,

1988 expenditures

by

1988

1988

1988

region,

...'.' 1988

1988 visitors,

...'...'

1988

1988

on

1988

'.'

1988

production

""'

"

"

(output),

'

'

'...

'..

34

41

39

44

Page

47 33

45

36

35

27

43

42

21

24

22

17

19

17

17

18

6
7

16

15

25

20 20

LIST OF TABLES

6.13

Impact

of

foreign

tourist

expenditures

on

employment,

1988..

48

6.14

Sectoral

impact

of

final

demand

on

net

indirect

taxes,

1988...

49
50
51

6.15

Impact

of

foreign

tourist

expenditures

on

indirect

taxes,

1988

6.16 6.17

Sectoral Impact

of impact foreign

of tourist final

demand expenditures

on

import on

import costs,

costs, 1988

1988..

53

LIST OF APPENDICES

39-Sector 40-Sector Executive 1988

Input-output

Order Commodity

No.

Table

120

x x

Commodity Sector

Classification

Domestic Extended

Technical Technical Use Inverse

Matrix,

Coefficient Coefficient Coefficient 1988

Matrix,

Matrix, Matrix,

1988

1988 1988

...

59 71 77

2.3.
4.

85 91

6.
7.
40-Sector Commodity x Commodity Extended Inverse Coefficient Matrix, 1988

97
103

iv

Page 1 5.

EXECUTIVE

SUMMARY

International tourism has become an important industry in many developing countries. Fully aware of the potential contributions of an expanding tourism industry to economic growth and development, the Philippines embarked on an intensified tourism development. The economic benefits of the tourism industry have been generally measured in terms of tourist arrivals and foreign exchange generated by the industry. These measurements provide only a partial picture of the total economic effects of tourism. The study on the impact of international tourism on the Philippine economy has been conceived in order to reveal the interrelationships of the tourism sector with various production sectors of the economy and assess its direct, indirect and induced effects. The study drew heavily upon input-output analysis as a tool to ascertain whatever benefits there are to be derived out of an expanded tourism industry. In 1988, the total value of goods and services available to the Philippine economy reached P1,700.3 billion valued at current prices. Of this total, domestic production accounted for P1,485.1 million or 87.3 percent while the remaining 12.7 percent was supplied through importations. On the demand side, domestic demand reached P1,473.9 billion or 86.7 The remaining 13.3 percent were exported to the rest of the world. percent of total supply.

The tertiary or service sector which includes the tourism-oriented industries catered mostly to finaldemand. Tourism-oriented sectors, particularly, delivered 93 percent of their outputs to final demand catering primarily to the needs of households and international tourists, with only 7.0 percent sold to meet intermediate demand. The gross output generated by the tourism industry totalled the national total production of P1 ,485.1 million in 1988. P58.6 billion or roughly 4 percent of

More than half of the tourism industry's output can be attributed to restaurant and hotel subsectors which had a combined gross receipts of P31.5 billion. Tourist bus/car services and travel agencies recorded the least combined output of only PO.4 billion. Among the tourism-oriented sectors, the hotel industry catered most of its output directly to foreign guests (82.6 percent). Tourist shops and recreational services subsectors devoted almost half of their outputs to international tourism. The local air transport industry derived only 2.6 percent of their total revenue from foreign tourism as the larger share of its output was generated from the local population (42.4 percent) as well as from freight revenues from exports of goods (42.2 percent). The tourism industry posted a gross value added of 42.2 units per 100 units of output. It also showed a high degree of intermediate input absorption, accounting for 52.1 units of locally produced and 5.7 units of imported inputs or a total of 57.8 units, much higher than the national average. The seven tourism-oriented subsectors netted in 1988 a total of P24.7 billion as gross value added to the economy or a mere 3.1 percent of the country's total gross domestic product of P803.0 billion. As a purchaser or user of inputs consumed in their production activities, ther tourism ranked second to the industry group in terms of absorptive capacity of intermediate inputs ratio. industry

Tourism-oriented establishments exhibited low indices of sensitivity indicating a low forward linkage. This is attributable to the fact that the sector is primarily a service oriented industry. Hence, its output is not used in further production of goods but rather to meet demands for such services as accommodation, food, tour assistance, etc..

In contrast, that the sector services.

the tourism-oriented enterprises exhibited high backward linkage effects. This means depends heavily on the system of industries for their raw materials, supplies and

An estimated tourist receipts of P29.9 billion were generated by international tourism. This represented 2.7 percent of total gross domestic product. With the given estimate of total tourist receipts, international tourism appeared to be the top foreign exchange earner for the year 1988. It comprised 19.6 percent of national total merchandise exports amounting to P152.6 billion in 1988 at current prices. Garments had total exports of P27.8 billion while semi-conductors and electronic micro circuits earned export receipts of P25.4 billion during the same year. Tourism's output multiplier of 1.692 is the highest among the final demand components. Its income multiplier of 0.792 is also considerably higher than those of investment (0.708) and other exports (0.702). Tourism had an indirect tax multiplier of 0.062 or 6.2 centavos per peso of tourist demand.

The tourism sector also ranked highest with an employment multiplier of 25.3 persons per one million pesos of tourist expenditure. Total employment generated by tourism was 756,400 or 3.6 percent of the country's employed labor force of 20.9 million. Its labor-output ratio of 9.96, however, is much lower than the national average of 13.03. For tourism goods and services, the economy required imported inputs amounting to P4.4 billion or 2.7 percent of total imports. The tourism industry had an import multiplier effect of 0.146, implying a net foreign exchange earning of 0.854 or 85.4 centavos for every peso of tourist expenditure. The measurement of the contribution of tourism to the Philippine economy is most difficult because of the unique nature of the industry and the inherent limitations present in the national data bases. However, the study was able to present an assessment of the substantial contribution of international tourism to the Philippine economy which could serve as guide to government planners in formulating policies and programs beneficial not only to the tourism industry but for the entire Philippine economy.

OVERVIEW
This chapter tourism industry. presents an overview of the Philippine economy and a general profile of the country's

The Philippine economic performance


The year 1986 saw the country on the way to economic recovery after the recession years of 1984 and 1985. Real Gross National Product (GNP) of P88,525 million marked an increase of 0.18 percent from the previous year of 1985. However, dividing the real GNP with the population, per capita GNP still declined by 2.23 percent from P1,617 million in 1985 to P1,581 million in 1986. This was mainly due to the 2.44 percent increase in population from 1985 to 1986. Overall, a positive annual growth rate of 0.18 percent was achieved in 1986. The following a) b) c) factors contributed of confidence to the economic recovery: in the government by the private sector an foreign governments;

the regaining

the relation program implemented the stabilization of the peso;

in the latter part of the year;

d)

low inflation rate;


the relatively favorable weather conditions. by 1.62 percent in 1986 from P594,579

e)

Measured at the prevailing million to P604, 197 million.

1986 prices, the GNP increased

The growth achieved by the economy in 1986 and 1987 was sustained performance of the economy can be attributed to the following factors:

in 1988.

The favorable

a) b) c) d)

continued

optimism

and subsequent expansion

in private investments;

the acceleration the responsive

in domestic demand; fiscal policy effected by the government;

the stability of the local currency; and the manageable domestic prices.

e)

The year 1990 saw the Philippine economy slowing down further the growth it has achieved during the past two years. Expansion in all the major economic sectors was still experienced although at a much lower rate. The sluggish performance a) b) of the economy could be attributed to several factors, during the second quarter; centers; among which:

the power shortage experienced the devastating the instability the escalation calamities

that hit major economic

c) d)

of the local currency; in fuel oil prices brought about by the Middle East crisis.

1. 1.1

1.2 General profile of the Philippine tourism Industry


In the 1970s, as the government emphasized tourism as being an important industry for the improvement of the Philippine economy, it undertook intensified development activities which reached its peak in 1975 and 1976. Infrastructure and support facilities rose visibly in Metro Manila and nearby provinces while marketing and promotional activities were intensified. The country realized its one millionth visitor in 1980. Immediately following this achievement, however, tourist arrivals declined starting in 1981. The decade of the eighties witnessed the continued marketing and promotional thrust of the government not only towards the international scene but also towards the development of domestic resources and new destinations. After the February 1986 peaceful revolution, the tourism industry started to post gains side by side with the other economic sectors of the country. The present management in the National Tourism Organization (NTO) also emphasized a shift in the tourism development policies and thrusts. Whereas the past administration concentrated on high impact projects, particularly in the Metro Manila area which saw the construction of de luxe touristfacilities, the current emphasis is on smaller tourism plants to be developed in the regional areas so as to spread the economic benefits from tourism. Moreover, the government has shied away from direct investment in tourism facilities, preferring, instead, to promote a climate whereby local and foreign investors would be encouraged to invest in the industry. The 1987 National Tourism Plan drawn up by the DOT spelled out the following Goal 1 Economic To maximize the economic benefits to be derived from the development of existing and potential Philippine tourism assets to benefit a wider base of the Filipino population. Goal 2 Socio-Cultural To ensure a level of tourism their quality of life, conserve national identity and unity. development that is for and by the Filipinos to improve and promote their heritage, and thereby heighten their objectives:

Goal 3

Physical-Environmental To achieve a level of tourism development that will ensure protection environment and preservation of the country's ecological balance. of the natural

Goal 4

Governmental
To provide a strong government organization that will effectively and efficiently direct, implement, and coordinate the functions and resources required to institutionalize the priority position of the tourism industry within the country's political framework.

While implementing its objective as the primary policy planning, programming, coordinating and administrative body of the executive branch of the government to develop the tourist industry, the Department of Tourism (DOT) was reorganized in 1987. Manpower was reduced in its attached agencies and the basic functions and responsibilities of the Philippine Tourism Authority (PTA) , the Philippine Convention Bureau (PCB) and the DOT itself, were streamlined and redefined. The PCB was renamed as the Philippine Convention and Visitors Corporation (PCVC). The structural change of the PCB into a new corporation was done primarily to further strengthen its effectiveness as the marketing arm of the Department of Tourism. Attached to the Department of Tourism were the National Parks Development Committee (NPDC) and the Intramuros Administration (IA) by virtue of Executive Order 120. Figure 1 presents the organizational structure of the Department of Tourism. Appendix 1 provides a copy of Executive Order 120 which defined the functions and responsibilities of the various units of the
d

Department

of Tourism.

The Philippine tourism industry, after registering tourism arrival declines between 1981 and 1985 at an estimated average annual rate of 5 percent, posted an increase (1.09 percent) in 1986. In 1988 , an impressive 31.3 percent increase in arrivals over the 1987 figure was achieved. An increase of 14.05 percent was also registered for the year 1989. In 1987 , the United States of America became the largest market of the industry, surpassing Japan which consistently has been the country supplying the most visitors to the Philippines. Western Europe followed with the Federal Republic of Germany as the top market, followed by Hong Kong, the ASEAN countries and Australia. Although visitor arrivals increased from 1986 to 1989, official foreign exchange earnings as reported by the Central Bank declined by an estimated 19 percent in 1987. Due to this conflicting trend,the DOT, the Central Bank and the National Economic Development Authority (NEDA) are studying the statistical series of the tourist receipts. Meanwhile, the DOT has unofficially estimated tourist receipts in 1987 at $US1.46 billion, was above the official Central Bank estimate of almost $US700 million. Table 1.1 presents the visitor arrivals by country of residence in the last ten years and Table 1.2 presents the Philippine visitor arrivals and tourism receipts from 1963 to 1987. Investments in tourism plants and superstructures have also started to come in not only in Metro Manila but in the countrysides as well. Hotel occupancy rates averaged in the high 80s and room shortages have surfaced as a real problem. The limited airline seat capacities to the Philippines also became more highlighted. Both the government and private sectors in the tourism industry became optimistic about the growth of the industry. Conservative estimates by the DOT projected visitor arrivals to reach nearly two million by 1992 at a steady growth rate of 15 percent annually. However, global and local events tremendously affected the growth of the industry. DOT projections on visitor arrivals were adjusted downwards to reflect the effects of these global and local events.

Figure

1. Organizational

structure

of the department

of tourism

SECRETARY OF TOURISM

NATIONAL

PARKS

DEVELOPMENT COMMITTEE (NPDC)

PHILIPPINE CONVENTIONS VISITORS CORPORATION

&

PHILIPPINE TOURISM AUTHORITY

INTRAMUROS ADMINISTRATION

(PIA)

(IA)

(PCVC).UNDERSEC.FORPLANNING, PRODUCT DEVELOPMENT& COORDINATION OFFICE OF TOURISM DEVT. PLANNING OFFICE OF PRODUCT RES. & DEVT. OFFICE OF TOURISM COORDINATION UNDERSEC.FOR TOURISM PROMOTIONS UNDERSEC.FOR
TOURISM SERVICES & REGIONAL OFFICES

UNDERSEC.FOR INTERNAL SERVICES

BUREAU OF INT'L TOUR. PROMOTIONS

FINANCIAL SERVICE

&

MANAGEMENT

ADMINISTRATIVE SERVICE

OFFICE OF TOURISM INFORMATION

LEGAL SERVICE

ASEAN Brunei Darussalam Indonesia Malaysia Singapore Thailand SUB- TOTAL EAST ASIA Japan Hong Kong Korea (Rep. of) Taiwan Province 260,252 94,067 10,651 40,812 o 10,342 28,684 31,828 9,741 80,595

0 11,771 29,479 34,913 12,346 88,509

0 10,996 25,339 33,732 10,104


80,171

0 7,711 18,107 27,219 11,604 64,641

2,024 6,175 14,459 22,147 12,385 57,190 160,542 62,939 11,602 40,275 275,358

2,140 5,916 14,525 17,271 9,602 49,454


152 ,771

2,031 6,222 12,780 17,556 8,255 46,844

1,890 5,664
11,941 17,785

2,382 7,250 16,336 23,794 9,909 59,671 181,741 133,331 16,125 56,465 387,662

2,456 7,994 17,201 26,402 10,753 64,806 215,634 130,346 36,587 90,146 472,713

9,248 46,528 126,127 80,886 14,463 35,899 257,375

159, 652625698251 178, 92,281 12,298 38,394 335,875 75, 13, 46, 295,226 70, 13, 42, 304,610

133,536 75,344 12,623 34,369

407 10, 873 35, 708


52,

of China SUB-TOTAL SOUTH India NORTH AMERICA 151,251 17,013 168,264 ASIA 10,629 405,782

251,759

255,872

10,309 147,730 18,353 166,083

10,831 148,793 14,761 163,554

11,162 151,241 13,976 165,217

11,555
160,638 15,392 176,030

9,957 162,320 15,205 177,525

6,908 166,382 16,521 182,903

6,344 175,729 17,965 193,694 211,502


19,730

6,348 246,586
21,093

United States Canada SUB-TOTAL OCEANIA Australia New Zealand SUB- TOTAL EUROPE Denmark Finland France Germany (Federal Italy Netherlands Norway Spain Sweden Switzerland United Kingdom SUB-TOTAL MIDDLE EAST

231,232

267,679

67,942 4,435 72,377

63,342 4,337 67,679

62,969 3,910 66,879

53,238 3,501 56,739

49,670 3,230 52,900

48,176 2,660 50,836

44,571 2,539 47,110

43,126

45,349 3,349 48,698

50,529 3,614
54,143

2,789
45,915

2,257 988 10,511 32,047 Rep. of) 8,729 5,671 1,899 5,617 4,051 11,557 19,428 102,755

2,489 1,041

2,366 884

2,390 885 8,415 27,892 8,287 5,503 1,688 3,828 3,904 11,100 22,990 96,882

2,334 836 7,783 23,738 7,020 4,781 1,769 2,134 3,844 10,095 21,222 85,556

2,081

725
7,714
22,110

2,294 669 7,980


23,210

2,572 573 6,808 22,784 5,956 4,818 1,912 1,770 5,557 8,248 19,867 80,865

3,398 1,200
8,004

3,320 1,103
9,543 30,045

10,03031,501 9,760 27,612 8,976 5,430 1,774 6,301 4,483 11,561 21,488 105,074 8,701
5,171

27,399 7,415 6,109 2,411 2,403 6,883 9,993 24,715 99,930

5,463

5,379 4,325 1,999 1,415 4,838 8,826 19,316 80,251

8,869 6,543 2,726 2,978 6,759 10,853 26,600109,339

4,355
1,622 1,851 3,984 9,512 19,679 79,096

1,844 4,926 4,102 10,751 22,625 98,742

Saudi Arabia OTHERS

10,583

15,254 92,372
881,155

14,209 92,744
824,521

17,809

13,539
366 74,:

19,976 71,718 711,582 69,935 781,517

20,396 70,833 721,950 72,750 794,700

17.778 86,831 86,023

& UNSPECIFIED 96,558 947,543 60,616

Residences Total Overseas Filipinos Grand total

82, 077537 71,061 795, 65,013 860,550 747,459 69,253 816,712

706,!532 66,!542 773,074

937,5831,076,103 105,531 113,616

57,798 938,953

66,286 890,807

1,008,159

1043,1141,189,719

Prior to Brunei Darussalam's membership in the ASEAN in 1984 arrivals from that country were lumped under "Others".
Source:

Department of Tourism.

192,902 5,781 15,052 16,374 527 043258782

Table 1.2. Philippine visitor arrivals and tourism receipts, 1963-1987


Year Visitor arrivals Growth ( percentage)
0 7.62 11.66

Tourism receipts ($US million)

Growth ( percentage)
0 36.36

1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 Central Bank figures of Tourism

69,913 75,243 84,015 101,695 108,805 112,268 123,268 144,071 144,321 166,431 242,811 410,138 502,211 615,159 730,123 859,396 966,873 1,008,159 938,953 890,807 860,550 816,712 773,074 781,517 794,700 1,043,1.14 1,189,719

21.04
6.99 3.18 9.80 16.88 0.17 15.32 45.89 68.91 22.45 22.49 18.69 17.71 12.51

11.00* 15.00* 28.00* 64.00*


80.00 * 48.00 *

86.67
128.57 25.00

49.00*
94.73 * 65.93 *

-40.00 2.08 93.33


-30.40

121.97 *
76.90 *

85.00
-36.95 -24.34 88.43 -15.11 40.61

58.18*

109.63 *
93.06 . 130.85. 210.05. 238.01 .
319.74.

60.53
13.31

4.27
-6.86 -5.13
-3.40 -5.09
-5.34

34.34
7.50 30.96

343.72. 450.14.
464.75. 366.25.

3.25
-21.19 38.43 27.63

507.00 .

1.09 1.69

31.26
14.05

647.06. 457.72. 1,300.97 .. 1,465.47 ..

-29.26 184.23
12.64

Department

figures

OBJECTIVES
International tourism has become potential contributions of an expanding 1) increased foreign exchange earnings; and 4) enlarged tax collections.

AND SCOPE

OF THE STUDY

an important industry in many developing countries. The tourism industry to economic growth and development are: 2) expanded employment opportunities; 3) increased income;

Objectives
This study aims to explore the contribution of tourism to economic growth and development in a developing economy like the Philippines wherein the magnitude of the tourist boom has affected its economy. Furthermore, it aims to reveal the interrelationships of the tourism sector with various production sectors of the economy and assess the direct, indirect and induced effects using the inputoutput analysis technique. Specifically, (1) (2) the main objectives of the study are: of international tourism tourism in the Philippines; on the economy of the

To present and analyze the profile and behaviour

To measure and analyze the impact of international Philippines in terms of its contribution to: a. b. Gross Domestic Government Product (GDP),

revenues,

c.
d.
e.

Foreign exchange generation, Employment generation,


Income distribution; the linkages between international tourism and the rest of the

(3) (4)

To measure and analyze economy; and

To provide policy recommendations

based on the findings of the study.

In examining the impact of tourism upon economic growth and development, the study draws upon input-output analysis as a tool to ascertain whatever benefits there are to be derived out of an expanded tourism industry. The study is focused on three sections. The first section looks on the overall structure of the tourist industry; its definition or delimitation as an industry; its primary characteristics as well as the prospects of the tourism industry; the market forces of supply and demand that affect it as well as an examination of the role that the public sector plays in its promotion as an industry. The second section explores the direct economic impacts of an expanding tourism and develops an econometric model through inputoutput analysis to estimate the contribution of the visitor industry to the economic growth of the country. The third and final section summarizes relevant findings and discusses the implications of such on the overall levels of economic growth and development in the Philippines.

2.2 Sectoral coverage


For purposes of the study, the range of specific sectors identified as part of the tourist industry are: 1) hotels; 2) resorts; 3) other forms of lodging accommodations (inns, pensions, lodging houses; 4) tourist class restaurants; 5) tour and travel agencies; 6) tourist transport operators; and 7) tourist handicraft shops. Professional congress organizers, considered a distinct category in the country, were not dealt with separately since most were tour and travel agencies as well. On the other hand, the range of goods and services on travel exports produced by the abovementioned sectors of the tourist industry could be classified into six categories: 1) accommodation;

2. 2.1

2) food and beverage; 3) souvenirs and shopping purchases; 4) sightseeing and amusement; 5) local transportation; and 6) other purchases. 2.3 Definition of terms
The Philippines has adopted the WTO definition of from one day to 59 days for reasons of pleasure, health, religion or study." The term includes cruise passengers leave the transit area at the place of entry, transport crews a tourist as "a person who visits the country business, recreation, sports, family matters, but excludes in-transit travellers who do not and troops.

Domestic tourist, on the other hand, has been defined as "any resident of the country, whether national or not, who goes from his place of residence to another place of the same country for at least one night for activities other than remunerative."

2.4 Data availability in the tourism sector


Statistics on international tourism in the Philippines include data on the number and distribution visitor arrivals and the amount of foreign exchange generated. of

Data on visitor arrivals are gathered from Arrival/Departure cards required by the Commission on Immigration and Deportation from all travellers who arrive or depart through all air and seaports in the Philippines. Statistical information on tourist receipts is officially collected by the Central Bank of the Philippines. Tourist receipts refer to the payments of foreign tourists for goods and services in the country made out of foreign currency resources. Such figures represent the value of tourist trade in the country as an invisible export. The Department of Tourism, on the other hand, conducts outgoing visitors to the Philippines. In addition to estimated tourist a breakdown of tourist expenditures by type of expenditure as well The VSS also provides general tourist profile statistics, visitor a Visitor Sample Survey (VSS) of receipts by year, the survey provides as an estimate of average length ofstay. feedback and preferences.

On the aspect of domestic tourism, the DOT undertakes the Study on Regional Travel in the Philippines which provides data on the regional distribution of foreign and local travellers; theestablishm facilities and services available in the regions; and the profile of the regional traveller. This study also provides the pattern of expenditure of travellers within the country. In addition to the data on establishments/facilities generated from the Study on Regional Travel, information on certain operations aspects of tourism-oriented enterprises, e.g., ownership, capitalization,capacity, facilities and services, employment data and others, are compiled by the DOT's Office ofTourism Standards. This tourism impact study was confined only to the assessment of the effects of international tourist expenditures on the economy. Ideally, tourism final demand should include not only tourist expenditures but also capital expenditures for tourism-related activities. However, the 1988 Census of Establishments results as the primary source of private investments data were not yet available during the course of the study.

.Q

METHODOLOGY
Official statistics do not identify or separately classify data pertinent to the tourism industry. Certain sectors which are officially classified, such as accommodation and entertainment, may sell a large proportion of their output to tourists but not exclusively. For instance, a significant proportion of the output of the hotel sector is accounted for by sales to local clients. On the other hand, many industries not normally thought of in terms of tourism such as construction and manufacturing, have a tourism component in that some of their output are eventually consumed by the tourism industry. Therefore, to examine the economic significance output or value added of all existing industries into examining the impact of tourism upon economic growth input-output analysis as a tool by which the study would to be derived out of an expanded tourism industry. of tourism, it is necessary to disaggregate the tourist and non-tourist components. Thus, in and development, this study draws heavily upon be able to ascertain whatever benefits there are

To augment the data available in the industry, the project team embarked on several data collection schemes. Data from financial statements and other documents submitted by establishments to the Securities and Exchange Commission, the DOT's Licensing Division, the National Statistics Office and the Civil Aeronautics Board were utilized. To deal with data gaps and the need for finer disaggregations survey on establishment income and expenditure-was conducted. of data compiled, a special sample

The special survey on establishment income and expenditures was conducted to obtain additional detailed information on tourist expenditures. The survey served as a special inquiry on selected datawhich needed further breakdown in order to be of use in the construction of the input-output table. Information gathered from the special survey was used as basis for disaggregating sales and expenditure of the different establishments as presented in their financial statements. The questionnaires were distributed to the sampled establishments and accomplished by the comptroller or accountant of the establishment and by the manager/proprietor for smaller establishments.

3.1 1988 Input-output table updating exercises


Input-output tables, in general, require much more extensive and detailed data than other forms of economic accounts, such as the national income and product accounts. In the Philippines, while national income estimates have been made possible on an annual and, lately on a quarterly basis, the construction of input-output tables from primary data has been undertaken only once in every 4-5 years since the first table of 1961. The 1985 I/O Table is the sixth and the latest of series of benchmark tables constructed for the national economy. Although many applications of input-output tables may not require the construction of 1-0 tables annually, there is still a need to keep production and demand structures updated. Sectoral estimates of primary inputs of value added at current prices are generally derived from sectoral output and updated gross value added ratios. Analysis of repercussive effects of changing factor and output prices often require quantitative determinations at current rather than at base-year prices. For purposes of the tourism impact study, the project team decided to choose CY 1988 as the 1-0 update year. Under normal economic conditions, CY 1988 was better than CY 1985 when the Philippine economy experienced a slowdown. The updating exercise was carried out on the assumption that input-output coefficients change through time as the result of three factors, namely: (a) price changes, (b) changes in the degree of substitution, and (c) changes in the degree of fabrication. Based on these assumptions, the estimation process underwent two successive operations. First, the base year (1985) input coefficients were adjusted to prices of the chosen update year (1988) to account for price changes of inputs and outputs. These price-adjusted coefficients were then subjected 10

3.

to the RAS method under consideration.

to reflect possible

shifts in production

and demand

structures

during

the period

To evaluate the base year coefficients in prices of the current period, a set of price index numbers was specially constructed for each of the sectors comprising the economy. Wholesale price data for commodities provided the basic input in constructing the price indices for the primary and secondary sectors. For the tertiary or the services sectors, implicit price indices derived from the national income accounts were used. If Ao is the base year (1985) coefficient matrix and if po is the price vector in which current year (1988) prices are related to 1985 prices, then 1985 matrix converted to current (1988) prices say, Ao*' is

given by:
A* a

1\

1\-1

P Aop
matrix derived from the price vector p.

where

p is a diagonal

On the assumption of no change in production technology, the resulting coefficient matrix, Ao*' would have served the purpose of this exercise. That is, production cost structures change over time due solely to changing commodity prices. To be on the safer side, however, the price-adjusted matrix, Ao*' was further adjusted to account for possible technological changes that might have occurred between 1985 and 1988.

1 The RAS adjustment method


The RAS method is used to update input-output tables to a year for which row and column sums are known but not the intermediate deliveries themselves. This method consists of finding a set of multipliers to adjust the rows of the existing matrix, in this case, Ao*' and a set of multipliers to adjust the columns so that the cells in the adjusted matrix will add up to the given row and column totals relating to the current year. It is assumed that each element aij of the coefficient matrix being estimated, say, A1' is subjected to two effects, namely: (a) the effect of substitution, measured by the extent to which commodity i has been replaced by, or used as substitute for, other commodities in industrial production, and (b) the effect of fabrication, measuring the extent to which commodity j has come to absorb a greater or smaller ratio of intermediate to total inputs in production. It is further assumed that each effect works uniformly, i.e., commodity i increases or decreases at the same rate as an input to allindustries, and that any change in the ratio of intermediate to toal inputs of a commodity has the same effect on all commodities used as inputs. The substitution multipliers which operate along the rows are denoted as vector r and the fabrication multipliers operating on the columns as vector s. Each cell in the base matrix, in this case, Ao., will be subjected to these two effects and the new matrix A1 can thus be written as:
/\ /\

A1

=
A

r Ao.

(2)

where r

and

are diagonal matrices with vectors rand s in the diagonals. for getting the values of rand s is as follows:

The estimating

procedure

Let u1 stand for the intermediate demand vector derived by subtracting the known vector of final demand from the output vector q1 and v 1 for the intermediate input vector which is equal to q1 less than given vector of value added. These given vectors of final demand and value added are based on available data obtained from the national income (NI) accounts. Also, let X1 be the unknown matrix of interindustry transactions for the current period (1988). Then,
X1 = A1q1

(3)
11

3.1.

substituting
1\

equation
1\ 1\

(2) into equation (3), we have (4)

Xj = (r

Ao. s ) qj

The row totals of this matrix will be:


U1 = X1

(5) 1 1 I .I .I II II

where i

L1~
Substituting
1\

equation
1\ 1\

(4) into equation (5), we have: (6)

u1 =

r (AO*q1) s

The column totals of matrix X1 will be:


V1 = X1 i

V1 = i1
A A

V1 = r (Ao. Q1)S

(7)

Equation (6) and (7) contain all the information desired -the price-adjusted base coefficient matrix Ao*' the derived row and column constraints, u1 and V1' and the current output levels, q1. If these values are solved simultaneously, the values of the vectors rand s will be obtained and which in turn will be used to calculate A, and eventually, x1. The solution to these equations which is most usually and conveniently adopted is an iterative one. The estimation process of obtaining X1 from Xo thus in effect amounts to nothing more than a proportional adjustment of the base matrix successively along its rows and its columns until convergence is reached. The resulting rand s multipliers measure the degree of substitution and fabrication, respectively. Sectors with high values of r, usually greater than unity, are those which tend to replace sectors with low r values as inputs into intermediate demands. Sectors with high values of s are subjected to higher fabrication effects, i.e. they are using more intermediate inputs and thus less primary inputs in their production processes.

3. 1.2 Modified RAS method


With the availability, however, of additional current information on some interindustry transactions, the simple RAS method will be modified to exclude these predetermined transactions from the bi-proportional adjustment process. By adopting the modified RAS method in this exercise, the initial step is to compute for the required new row and column constraints, u1* and V1*' respectively, by subtracting those known cell values form the original u1 and V1values. The next step is to set at zero all the cells in the base matrix Ao. for which current values had been firmly estimated, after which the normal RAS procedure will be carried out. When a solution had been reached, the zero entries will be replaced by their corresponding known values.

12

III

With this methodology, however, computed rand s multipliers could not be used as measures of technological change. The usual procedure is to calculate for rand s given the base and the updated matrices using the equation
A1 = r Ao S

where A1 is the updated

coefficient

matrix and AD is the base-year

coefficient matrix.

1.3 1985 (Base- Year) 1-0 table


The 1985 1-0 Accounts is the sixth of the series of benchmark interindustry studies made for the Philippine economy. Past 1-0 studies covered the years 1961, 1965, 1969, 1974 and 1979. In addition to benchmark tables, a number of 1-0 updates were prepared, the latest of which is the 1983 1-0 update with the 1979 benchmark table as the basis. Unlike past 1-0 tables, the 1985 version was compiled following the new System of National Accounts (SNA) conceptual and accounting framework. The new scheme as shown in the diagram calls for the compilation of two separate tables, namely: (1) industry x commodity make or output matrix showing the distribution of commodities produced by industries, and (2) commodity x industry absorption or input matrix showing the distribution of commodities consumed by industries in production. With these tables, it is now possible to identify the outputs and inputs that, in traditional 1-0 tables. could only be obtained from the worksheets. The make and absorption tables are combined with separate final demand and value added or primary input matrices to complete the 1-0 accounts.

1-0 SCHEMATIC DIAGRAM COMMODITIES COMMODITIES INDUSTRIES Absorption


FINAL DEMAND TOTAL

Output

x
INDUSTRIES Make
M

q
Output q

PRIMARY INPUT TOTAL

Value Added

v
q
9

Another new feature of the 1985 1-0 accounts is concerned with the treatment of general government current expenditures (GGCE). Whereas in previous 1-0 tables, all current expenses by government are reflected under the final demand column of GGCE, the 1985 benchmark table introduced a major modification by transferring part of government current expenditures from final demand to the intermediate demand column of government services, leaving only the total net value of these expenses (after deduction of government sales) under final GGCE. The new SNA rationalized this modification on the assumption that government now plays an important role in the expansion of the system of industries. 1.4 1988 1-0 update The 1988 1-0 table used in this study is the product of an updating exercise with the 1985 benchmark table as the basis. The updating exercise was conducted on the 59-sector level of

13

3.

disaggregation. For purposes of this study, however, the 59-sector table was restructured in size such as those sectors which were deemed to be less important in so far as the objectives of the study are concerned were condensed into major groupings and those sectors found to be tourism-oriented were further disaggregated. Thus, the resulting 1-0 table for tourism consists of 39 production sectors, 5 final demand sectors and 4 value added or primary sectors. The sector classification scheme is shown in Appendix 2. The transactions table presented in Appendix 3 is of a non-competitive imports intersectoral transactions are purely of domestically-produced commodities. Imports are non-competitive and are reflected in the table as a primary input along with the components. Cell entries along the imports row refer to the total value of imported goods consumed by the sectors (in the columns) in production. type wherein treated as all value-added and services

In the final demand quadrant of the table, the vector of exports was further subdivided into tourismrelated and non-tourism exports. Tourism-related exports refer to foreign tourist expenditures while on visit in the country and this is equal to the estimated travel receipts as recorded in the national income accounts. All other exports of goods and services are referred to as non-tourism exports. The transactions table is valued at current producers' prices. Appendices 4 and 5 are the analytical tables. Appendix 4 shows the input structures of the production sectors in coefficient form. It provides the ratio distribution of the intermediate and primary inputs. Column totals in Appendix 4 are all equal to unity. Appendix 5 is the so-called Leontief inverse. It is computed as the inverse of the technology matrix, (I-A), where A is the matrix of intermediate input coefficients shown in Appendix 4. The inverse matrix, (I-A)-1, which shows the total (direct plus indirect) output requirements per unit of final demand, provides the connecting link between final demand and output. '

14

PATTERNS

OF TOURISM

IN THE PHILIPPINES

Introduction
In the Philippines, tourism was given a priority status through the creation of a separate Department of Tourism in 1973. The Philippine Tourism Authority served as the implementing arm forphysical, infrastructure and superstructure development while the Philippine Convention Bureau was created to be the government's marketing arm for conventions. The assumption into office of the new dispensation in 1986 sought for a thorough review of all agency mandates and operations. Executive Order No. 120 was promulgated in January 1987 reorganizing the DOT. The new DOT was tasked to tackle policy formulation, strategic and marketingplanning, legislative liaison, inter-agency and intra-governmental coordination, regulatory control of the industry sectors, delivery of support services for domestic and international tourism promotion. Since then, tourism has been viewed as an economic activity, contributing country's acquisition of foreign exchange earnings, to the generation of employment of foreign, as well as, local investments. considerably to the and to the attraction

4.2 The travel account In the balance of payments


Data on travel credits and debits in the balance of payments from 1986-1989 are shown in Table 4.1. The credit item represents expenditure by foreign visitors in the Philippines and the debit item represents expenditure overseas by Filipino tourists. It should be stated at the outset that the travel credits and debits statistics are difficult to estimate and their reliability is very much open to question. The Department of Tourism based its figures upon estimates of expenditures by foreign visitors as derived from Visitor Sample Survey. The Central Bank, on the other hand, based its figures upon foreign exchange remittances and declaration of tourism-oriented establishments and authorized foreign exchange dealers. From the table, it will be observed that the travel account has recorded a surplus throughout the three-year period. The existence of this surplus was greatly aided by the government's restrictive measures to curb dollar outflow by departing Filipino travellers abroad. Such measures include restrictions on amount of foreign exchange that may be taken out of the country, ban on travel by public officials and employees without presidential authorization and other bureaucratic delaying red tape as the requirement of travel clearances for all nationals.

Table 4.1 Travel credits and debits, (Millions of pesos)


Year Credit

1986-1990

1,139 9,42412,98814,962 1,810 1,599 1,676


Exchange Source: Rate: National 1$US = P21.0653 Accounts of the Philippines ESSO, NSCB.

15

4.

4.1 13,197 1986198719881989 Debit

Another area where the tourism industry has played an active and primary role was in the field of international trade. Table 4.2 shows the data on exports and imports.

Table 4.2 Export and import data, 1988


(Millions of pesos)
Item Merchandise trade
-Exports -Imports

Value

145,566 182,375
(36,809)

Trade balance
Non-Factor services

-Exports -Imports

57,370 15,762 41,608

Trade balance Source: National Income Accounts ESSO, NSCB.

The table shows a negative trade balance on merchandise trade due to excessive imports. phenomenon is not new since even in the past years, there have been more imports than exports. situation is different with non-factor services. The trade balance is positive due to more exports lesser imports. Non-factor services include insurance, travel, government, miscellaneous services other transportation and communication services.

The The and and

4.3 Foreign visitor arrivals


The interrelationships between can be expressed mathematically as !Joy income and the flow of tourist arrivals for the period under study

L\ Ta

wherein the increments or decrease in income or tourist receipts increments of increase or decrease in tourist arrivals (Ll Ta).

(Ll Y) is directly

proportional

to the

In using this concept to assess the performance of the tourism industry for the period 1980-1989, statistics gathered indicated that tourist arrivals grew from 1,008,159 in 1980 to 1,189,719 in 1989 with a slight decline in tourist arrivals from 1981 to 1986. This registered an average annual increment of 20,729 or a 2.4 percent annual increase in income via tourist receipts during the period. Please refer to Table 4.5 for data on tourist arrivals in the Philippines for 1980-1989. In 1980, tourist receipts amounted to $US 319.74 million increasing over the 1O-year period by an average of 26.23 percent annually reaching $US 1,465.47 million in 1989. All in all, the performance of the industry could not be considered as a general decline, for the figures have shown that there was an upward trend in both tourist arrivals and tourist receipts. Although
upward -trend in

the tourist
the industry,

arrivals
the rates

and tourist
by which

receipts
the variables

for the period


grew were

1980-1989
sluggish and

showed
oftentimes

a general
erratic

for a large part of the 10-year period under study, indicating a flaw in the industry's overall businessplannrng, promotion and investments. As an example, the annual rates of growth for tourist arrivals during the period fluctuated from as much as 4.27 percent in 1980 to -6.86 percent and -5.34 percent in 1981 and 1985, respectively. On the other hand, tourist receipts showed a growth rate of 34.34 percent in 1980 to a growth rate of -21.19 percent in 1984.

16

Table 4.3 Tourist receipts in the Philippines,


($US millions)
Year 1980 1981 1982 1983 1884 1885 1986 1987 1988 1989 Source:
*Central Bank data. of Tourism data.

1980-1989

Tourist receipts
319.74* 343.72* 450.14* 464.75* 366.25* 507.00* 647.06* 457.72* 1,300.97** 1,465.47**

increase/decrease ( percentage)

34 34
7 50

30 96
3. 25
-21

19

38. 43 27.63
-29

26

184 23

12.64

**Department

Table 4.4 Ten principal

exports,

1988

(F.O.B. value in million pesos)


Item
Total exports Total ten principal -Garments -Semiconductors -Crude -Bars, -Shrimps -Copper -Lumber -Banana -Gold -Prepared from copper ores tuna of electronic microcircuits exports

Value
145,566 87,961 27,294

25,771
8,412 6,185

coconut oil rods, unworked and prawns concentrates (copper)

5,221 4,391
3,277

3,038
2,465

1,907

Source:

National Income Accounts NCSO, NSCB.

Table 4.5 Visitor arrivals to the Philippines,

1980-1989

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
Source: Department of Tourism.

1,008, 159953807550712074517700 938, 890, 860, 816, 773, 781, 794, 1,043, 114719 1,189,

4.27

~.86
-5.13

-3.40
-5.09 -5.34

1.09 1.69
31.26 14.05

17

Annual

Japan was the country supplying the which was second to Japan in the 1984 to date. Japan ranked second visitor arrivals by origin from major sources

most visitors to the Philippines from 1980-1983. The UnitedStates, same period, has become the most important source countryfrom only to the United States. Table 4.6 shows the distribution of for the period 1980-1989.

Although primary markets continued to dominate the greater portion of visitor arrivals, the growth trends fluctuated heavily. This was particularly evident in the cases of Hong Kong, Australia, Taiwan Province of China, Federal Republic of Germany, Singapore, Malaysia, United Kingdom, Republic of Korea and Saudi Arabia with their rise and decline arrival pattern.

Table 4.6 Visitor arrivals to the Philippines


(Percentage)
1980 1981 1982 1983 1984

by origin, 1980-1989

1985

1986

Source:

Department

of Tourism.

4.4 Purpose

of visit pattern.

A person's purpose in visiting a country greatly affects the length of stay and expenditure Thus, one useful indicator is the classification of tourist arrivals by purpose of visit.

Out of the total visitors in 1989, 66.71 percent came to the Philippines primarily for holidaypleasure and vacation; 12.23 percent came for business; 4.29 percent came for official mission; 1.19 percent came for convention and; 0.56 percent came for health purposes. Majority of the holiday and business travellers came from Japan, Hong Kong and the United States. This pattern was similar to that

in 1988.
Only 25.11 percent of the visitors in 1989 were on packaged tours. The bulk, 65.64 percent came to the Philippines on their own. Particular markets though were heavily oriented to package tours like Taiwan Province of China and Hong Kong. Japan, which used to be dominated by package-tour travellers in the past, showed a higher percentage of independent travellers than those who availed of package tours.

4.5 Length of stay


The number of foreign visitors is only one determinant of aggregate expenditure by foreigntourists. Another important factor is the average duration of stay. The average length of stay per visitor in 1988 was 12.06 nights. In 1989, it was computed at 12.04 nights, slightly shorter than the 1988

average.
18

1989 1988 1987

4.6 Expenditure by foreign visitors


Visitor sightseeing, expenditure outlays were classified according to accommodation, entertainment/recreation, local transport, shopping and miscellaneous food and beverage, expenses.

In 1988, the average daily expenditure per visitor was $US115.74. ASEAN visitors recorded the highest average daily expenditure at $US 171.62, followed by East Asian travellers at $US153.61. The breakdown of a respondent's average daily expenditure for 1988 is given in Table 4.7.

Table 4.7 Breakdown of total average dally expenditure


(Percentage)
Category of spending Accommodation Food and Beverage Sightseeing Entertai nmentJrecreation Local transport Shopping Miscellaneous Source:
1988 Visitor Sample Survey, Department of Tourism.

of foreign visitors,

1988

28.96
22. 29 1. 58 15. 31

3. 10
25. 45

3. 31

4.7 Domestic tourism


Domestic travel patterns in 1988 through a study conducted Philippines provided information the mode of transport employed, expenditure pattern and a profile The findings the Philippines was monitored by the Department of Tourism starting by the Asian Institute of Tourism. The Study on Regional Travel in the on the number and seasonality of visits to various parts of the country, the type of accommodation used, the purpose of visit, average total of travellers. as follows:

of the study are summarized visitor arrivals

Trends in regional

4.7.1

Volume and distribution

of regional travellers travellers were reported to have utilized the

A total volume of 2,431,569 accommodation establishments in 1988.

Understandably, the National Capital Region captured nearly 45 percent of arrivals during the year, due to the heavy influx of foreign visitors to Metro Manila. Region VII followed with an almost 13 percent share and Region I at 10.5 percent. The data on visitor arrivals by region is given in Table 4.8.

19

4.7.1

Table 4.8 Regional visitor arrivals, January-December

1988

233,919.0 204,758.0 II III IV 40,353.0 19,873.0 32,911.0 83,362.0 174,818.0 219,946.0 52,429.0 37,785.0 167,502.0 96,650.0 4,001.0

1,079,288.0 254,410.0 48,167.0 42,795.0 35,603.0 87,334.0 191,011.0 313,893.0 59,038.0 42,125.0 171,401.0 102,281.0 4,223.0

V VI
VII VIII IX

10.5 2.0 1.7 1.5 3.6 7.9 12.9


2.4

X
XI XII Total

1.7 7.0 4.2 0.2


100,0

56.3

43.7

1988 Study on Regional Travel in the Philippines. Department of Tourism.

4.7.1.2

Seasonality

pattern of regional arrivals of the yearare

Visitor arrivals in all regions, including NCR, divided into the four quarters as follows:

4.9 Regional visitor arrivals, by quarter (1988)

1st 3rd 4th Total

Jan-Mar Jul-Sept Oct-Dec

364,732 397,352 323,505 282,718 100.0


Study on Regional Travel in the Philippines, Department of Tourism.

26.7 26.9 591,131 536,533 2,431,569 24.3 22.1

2nd Apr-Jun

Source:

There was no pronounced seasonality in terms of arrivals over the four quarters, although the second quarter exhibited a slightly higher figure over that of the first quarter. This is because domestic arrivals were the highest from April to June while foreign arrivals were the heaviest during the firstquarter.

4.7.2

accommodation

facilities of accommodation establishments the

distribution

There were 832 accommodation establishments covered by the survey allover country in 1988, and their regional distribution is shown in Table 4.10.

44.4 1,063,262.0 1,368,307.0 2,431,569.0 Percentage Source: Table 649,470654,435 100.0 100.0 1,368,307 1988 Regional 4.7.2.1 20

Table 4.10 Regional distribution

of accommodation

establishments,

1988

63 155
II III IV V VI VII VIII IX X XI

58 61 67 58 66 46 42 43 76 53 44 832
1988 Study on Regional Travel in the Philippines, Department of Tourism.

XII
Total Source:

100.0

4.7.2.2

Room supply
The 832 accommodation establishments covered in the survey, a total of 28,207 rooms distributed in the regions, as follows: including facilities in

the NCR, reported

Table 4.11 Regional distribution

of rooms in accommodation

establishments,

1988

10,211 4,176
751

III IV

2,135
1,784 883 1,238

V
VI VII VIII IX

2,326
614 964 1,535 1,056 534

X
XI XII Total Source:
1988 Study on Regional

28,207
Travel in the Philippines, Department of Tourism.

100,0

21

About 36 percent of the total number of rooms were in the NCR establishments. Region VII had slightly over 8 percent of the total number of rooms, followed by Region III with nearly 8 percent. Although the hotels constituted only 28.1 percent of the accommodation facilities inthe regions, including NCR,nevertheless, they accounted for 62.6 percent of the total number of rooms reported by the establishments. 4.7.2.3 Occupancy rates

In 1988, the average occupancy rate for all regions, excluding the facilities in the National Capital Region, was 34.0 percent which was higher by 0.7 percent compared to the 1983 computed occupancy rate but lower by 0.10 percent compared to the 1984 occupancyrate.

The highest average occupancy rate for the year was reflected by Region VI at 54.3percent, followed by Region X with 47.5 percent. By category of establishment, hotels generally reflected higher average occupancies in comparison to other types of accommodation. In certain regions, however, specifically Regions VIII and XI, the lower forms of lodging accommodations posted higher occupancies than the hotels. Table 4.12 Room occupancy
Hotels 1*-2* 25.7

rates by type of accommodation,

by region

(1988)
Region

Hotels Region 3*-5* 39.0


II III IV

Resorts 26.7
43.0 22.8

Inns
33 1 19 3

Unclassified

average

21.0 27.5 58.4

75.1 51.2 35.8 65.6 70.0 47.5 49.0 77.6 59.7

18.2 37.6
28.3 34.9 58.6 50.5 32.6 31.5 48.2 40.6 73.2

27.5 19.1
34.7 31.4 38.4 54.3 35.8 32.3 31.3

200
35 8 43
.6

V
VI VII VIII IX X XI XII

31.5 22.1
24.8 22.6 49.5

47..4 34
.5

50 .4 54 32
.6 .3

30.1

47.5
34.5

64 .8.1

11.7

23

20.7

1988 Study on Regional Travel in the Philippines, Department of Tourism

4.7.3 Demographic

profile of regional travel demographics of regional travellers in 1988. there were twice as many male female travellers; the average age was 33.5 years; private firm employees of all travellers; majority of the travellers attained university/college degree at of visit was primarily for pleasure/holiday; the length of stay was registered at

In summing up the travellers as there were grabbed the largest share 67.3 percent; the purpose 5.8 days.

Sex
The established perennial proportional ratio of male to female travellers was 2: 1. A similar distribution of males and females was observed in 1988. Among domestic regional travellers, 66.7 percent were males and 33.3 percent were fema.l8's, whereas among foreign regional travellers, 69.6 percent were males and 30.4 percent were females.

22

4.7.3.1

4.7.3.2

Age had

The median age registered for 1988 was 33.5 years. Foreign regional travellers a higher median age at 34.7 years then domestic regional travellers at 31.6 years. 4.7.3.3

Education training

University/college degree was the highest educational training attained by the majority of the regional travellers at 67.3 percent. 12.1 percent had reached post-graduate degree. Secondary education holders and graduates of vocational/technical courses had their respective 11.9 percent and 8.7 percent shares. Domestic travellers had a higher percentage of university/ college holders than foreign travellers.

4.7.3.4

Occupation

Private firm employees occupied the biggest proportion of occupational groupings in 1988 at 21.2 percent. Businessmen followed at 20.8 percent. Government employees comprised 16.4 percent while the professional group represented 13.0 percent.

4.7.3.5

Purpose of visit

Out of the total visitors, 35.4 percent came to the Philippines primarily for pleasure/ holiday while 24.9 percent came for commercial business. While almost 60 percent of the foreign visitors come for pleasure/holiday, business remained to be the main purpose of visit by the majority (30.7 percent) of the domestic travellers, although a substantial 25.2 percent also come for their holiday.

4.7.3.6

Length

of stay

The average length of stay of the regional travellers in 1988 was 5.8 days. The domestic visitors stayed for an average duration of 4.7 days, while the foreign nationals stayed for an average of 6.7 days. The length of stay also varied according to purpose of visit. Those who came to visit friends and relatives had the longest stay. On the other hand, the shortest length of stay was reflected by those whose main purpose of visit was to attend a convention or conference. 4.7.3.7

Expenditure

In 1988, the overall average daily expenditure per traveller was P708.40, higher by 27.8 percent than the 1984 estimate. The foreign travellers spent an average of P928.20, higher by almost 42 percent than the amount of P539.45 spent daily by the domestic travellers.

23

5.

STRUCTURAL

ANALYSIS

OF THE PHILIPPINE

ECONOMY

IN 1988

Supply and demand situation


In 1988, the total value of goods and services available to the economy reached P1,700.3 billion, valued at current prices. Out of this total supply value, Table 5.1 shows that domestic production accounted for 87.3 percent while the remaining 12.7 percent was supplied through importations.

Table 5.1 Supply and demand situation,

1988

Total supply Domestic Production Import Total demand Domestic

100.0 87.3 215,292 1,700,347 1,473,916


682,039

12.7 100.0 86.7 40.1 46.6 37.9 8.7 13.3 11.6 1.8

Intermediate
Final Consumption Investment (PCE + GCE) (GDCF)

791,877
644,362 147,515 226,431 196,488 29,943

Exports
Non- Tourism Tourism

On the demand side, domestic (home) demand reached P1 ,473.9 billion in 1988 or 86.7 percent of total supply. The remaining 13.3 percent were exported to the rest of the world. Approximately twofifths (40.1 percent) of total supply was demanded by the intermediate or the production sectors in the form of raw materials, supplies and non-factor services consumed in the process of production. Final consumption by households and government accounted for 37.9 percent, while investment goods accounted for only 8.7 percent in 1988. Of the total exports tourism. This represented value of P226.4 billion earned in 1988, P29.9 billion was generated only 1.8 percent of total demand of P1 ,700.3 billion in 1988. from

5.2 Domestic production


Table 5.2 shows the composition of domestic production of sectors classified according to the major sectoral groupings of the national income accounts. Together with the three major groupings is the tourism-oriented industry group broken down into the 7 sectors identified as the major tourismrelated industries. The table shows that the industry group comprising mining, manufacturing, construction and the utilities sectors of electricity, gas and water produced the bulk of the country's total gross output value of P1,485 billion in 1988. The industry groups produced P713.5 billion worth of goods or 48.0 percent of the total gross output. The service sectors except the tourism-oriented sectors ranked next grossing P465.5 billion or 31.4 percent. The primary sectors of agriculture, fishery and forestry yielded a total gross output of P247.4 billion or 16.7 percent measured at current producers' prices.

24

5.1 1,485,055

Table 5.2 Composition


Major sector grouping

of outputs, 1988
Value (P million) 247, 427
713, 489 465, 527 58, 612 857 13, 557

Percentage distribution 16.66 48.04 31.35 3.95 0.06 0.91

1. 2. 3. 4.

Agriculture, fishery and forestry Industry group Services other than tourism-oriented Tourism-oriented sectors 4.1 Tourist bus/car service 4.2 Air transport 4.3 Travel agencies 4.4 Tourist shops 4.5 Recreational services 4.6 Restaurants, cafes, etc. 4.7 Hotels and other lodging Total

519 2, 121
10, 072 20, 992 10, 494

0.03
0.14 0.68 1.41 0.71 100,00

1,485,055

Gross output generated by the tourism industry reached a total of P58.6 billion or roughly 4.0 percent of the national total production in 1988. The restaurant and hotel sectors accounted for more than one-half of the tourism industry's output with a combined gross receipts of P31.5 billion. Tourist bus/car service and travel agencies recorded the least combined output of only P1.4 billion.

5.3 Output disposition

patterns

Reading along the rows of the 1-0 table shows the disposition of commodity outputs, either as inputs consumed by the production sectors or as deliveries to final demand. Table 5.3 shows the distribution pattern of sectoral commodity outputs classified according to the major sectoral groupings. Table 5.3 Disposition pattern of outputs

(Percentages)
Final demand Major sectoral grouping Intermediate demand
64.! 9165 36.:

Total

Consumption

Investment 4.1313.37

Non-tourism exports

Tourism exports

1. Agriculture, fishery and forestry 2.3. Industry group


Services other than Tourism-oriented

35.1 D9156997 334890 26. 63.


79.1 92.~ 98.: 87.92.~ 35.1

20.:31
7.1 D367 1.1

60. 72776942031.26

4.

Tourism-oriented 4.1 4.2 4.3 4.4 4.5 4.6 4.7


All sectors

37.
65.1

0.05 0.22

4.23 13.30 17.30 18.07 42.23


-

o.88

O. 41
37.08 32.44
2. 6187 22.49. 79

Tourist bus/car service Air transport Travel agencies Tourist shops Recreational services Restaurants, cafes, etc. Hotels & other lodging

12.!5210

42.' 70.1
37.16423

7.
39 0.:

100.1 DO617822 50.:21 99.1 92.

16.27
14.76 1.23 7.50 13.23

45.50
31. 79 82. 63 2.02

7.: 2278 7.
35.16

46.:

92.: 64.84

8.:36
42.09

On the overall, intermediate demand for the country's total production value of P1,485 billion in 1988 accounted for P522 billion or 35.2 percent. The remaining 64.8 percent or P963 billion worth of goods and services went to the final demand sectors, either for final consumption, investment or for exports.

25

7360

On the sectoral level, Table 5.3 shows that a large portion of the outputs of agriculture, fishery and forestry was delivered to the intermediate sectors for further processing. Roughly two-thirds (64.9 percent) of the sectors' output was consumed by the production sectors while final deliveries accounted for the remaining one-third (35.1 percent). In contrast, the industry group comprising mining, manufacturing, construction and electricity, gas and water delivered most of their outputs to final demand (63.2 percent) notably for final consumption by households. The pattern of distibution of output of the industry group is closely similar to that of the national economy. Expectedly, the outputs of the tertiary sectors of services including the tourism-oriented industries went mostly to final demand. Almost 80 percent of the outputs of services other than tourism-oriented establishments went to final demand, the bulk of which was consumed by households sector. Tourismoriented sectors delivered more than 90 percent of their outputs to final demand catering primarily to the needs of households and international tourists. Among the tourism-oriented sectors, the hotel industry disposed of most of its output directly to foreign guests (82.6 percent). Likewise, tourist shops and recreational services sectors relatively showed bigger proportions with almost half of their outputs going to international tourism. The local air transport industry derived only 2.6 percent of their total revenue from foreign tourism as the larger share of its output was generated from the local population (42.4 percent) as well as from freight revenues from exports of goods (42.2 percent).

5.4 Production cost structure


Basic information about the production cost structure of the national economy could provide a good reference point in understanding the role of the tourism industry in relation to the other sectors. The input structure of the Philippine economy also gives vital clues as to the magnitude of dependence of the economy on intermediate rather than primary inputs or vice-versa. To some extent, this framework of analysis could be extended to examine also the tourism sector. A look at the 1-0 transactions table shown in Appendix 3 shows that the economy's total production reached P1,485.0 billion in 1988, out of which P803.0 billion or 54.1 percent was generated as factor incomes (equivalent to gross value added) in the form of salaries and wages (compensation), indirect taxes paid to government and operating surplus. Net of indirect taxes, the country's gross domestic product at factor cost stood at P745.2 billion at current prices or 50.2 percent of total output. Table 5.4 shows the comparative structure of production costs of the major sectors including the tourism industry. The table shows the direct requirements of intermediate and primary inputs consumed in production, expressed in percentage forms. Values for each input item can be derived from total values shown in the last row of the table.

Table 5.4 Production

cost structures,

1988

(Percentage)
Inputs All sectors 35.16 64.84 10.77 18.91 AFP 22.51 77.49 3.03 35.54 3.95 3.33 31.64 Industry 42.20 57.80 19.53 9.81 4.38 5.08 19.00 38.27 100.00 713,489 Services 28.97 71.03 2.09 24.61 5.15 Tourism-oriented 52.14 47.86 5.65 14.29 4.16

1. 2.

Intermediate Primary Imports Compensation Depreciation Net indirect taxes Operating Surplus Gross Value Added Total P millions Agriculture. Fishery and Forestry

4.54
3.89 26.73 54.07 100.00 1,485,055

2.26
36.91 68.94 100.00 465,527

4.56
19.20 42.21 100.00 58,612

74.46
100.00 247,427

26

In 1988, the whole economy required an average of 35.2 units of domestically-produced and 10.8 units of imported goods and services to produce 100 units of output or a total of 46 units of intermediate inputs. Payments to labor accounted for 18.9 units, depreciation reserve for 4.5 units and payments for indirect taxes less subsidies for 3.9 units. The residual of 26.7 units represented operating land rentals and other value added payments. Among the four (4) major groupings, the input amounting to 61.7 units per 100 units contribution to the national economy appear value added, measured at 38.3 units only as 68.9 units for the services group. The tourism surplus which include profits, interest payments,

industrial group recorded the largest share of intermediate output. In effect, this made the industry group's direct relatively lesser than the other groups in terms of gross against 74.4 units for agriculture, fishery and forestry and industry posted a higher gross value added of 42.2 units.

Tourism-oriented industries likewise showed a higher degree, even when compared to the national average, of intermediate input absorption accounting for 52.1 units of locally-produced and 5.7 units of imported inputs or a total of 57.8 units, leaving a gross value added of 42.2 units per 100 units of output. This pattern is evident in Table 5.5 which shows that, except for the recreational service subsector, all the other six subsectors exhibited high total intermediate input proportions as follows: (1) restaurants with 66.1 units, (2) air transport with 72.0 units, (3) hotels with 51.5 units, (4) travel agencies with 52.6 units, (5) tourist bus/car service with 47.1 units, and (6) tourist shops with 45.6. The recreational services subsector exhibited an intermediate input consumption of 31.6 units. To a great extent, this indicates the high backward linkages of the tourism industry implying its intensive use of inputs produced by other sectors.

Table 5.5 Production cost structures

of tourism-oriented

sectors,

1988

(Percentage)
Inputs Total
Tourist bus /car service Air transport

Travel

Tourist shops

Recreational services 26.01 73.99 5.59 13.41 4.92 1.21 48.86 68.39 100.00 10,072

Restaurants 63.68 36.32 2.39 14.31 1.91 2.59 15.11 33.93


100.00

Hotels

1.2. Intermediate
Primary Imports Compensation Depreciation Net indirect taxes Operating surplus Gross value added Total P millions

52. 14866539.01
47.:
5.1

57.53 42.47 14.52 11.85 5.39 10.07 0.64 27.95 100.00 13,557

52.10904886965407 45.41
47. O. 54.59 0.20 30.46 4.16 2.26 17.51 54.39 100.00 2,121

49.50. 1.
14 0475

60.99 8.05 20.18 10.38 2.89 19.49 52.94 100.00 857

14.29

4. 16 4. 5620
19.

23. 4. 4.
14.' 47.42 100.00 519

5. 5. 2148 23. 48.48


100.00

42.21
100.00

20,992

The trend towards a higher intermediate input thus resulting in low gross value added is clearly demonstrated by the tourism subsectors. The restaurants industry, particularly, had to set aside out of every peso of its receipts, 66 centavos for locally produced (63.7 centavos) and imported inputs (2.3 centavos). In effect, only the residual of 34 centavos went to the payment to the factors of production as follows: 14.3 centavos for compensation, 2.6 centavos for indirect taxes and 15.1 centavos as operating surplus. The recreational services subsector which had the lowest intermediate input absorption of only 31.6percent, appeared to be the most profitable based on its operating surplus of 49.0 centavos out of every peso of receipt. This may stem from the fact that its low intermediate input absorption somehow accords it some form of protection from the adverse effects of erratic prices of raw materials. Also, recreational services is relatively capital intensive and represents a highly specialized service for which it can charge a premium price for highly selective markets.

27

58,612 10,494 613991

Surprisingly, despite the common perception that the hotel industry is in distress, it actually posted the next highest level of profitability based on its operating surplus of 24 centavos out of every peso receipt. The air transport industry had the lowest operating surplus of 0.64 or less than one centavo out of every peso receipt. It is of common knowledge that major airlines even in the United States have been reeling from severe losses. The air transport industry is very highly capital-intensive and is extremely sensitive to currency fluctuations, requiring real high volumes of business to generate decent profits. Perceptions of political instabilities, poor peace and order conditions and threats of terroristic activities even on a global level can easily dissuade even non-tourists from travelling by air. This high dependence of the tourism industry on such inputs directly affects the growth of theindustry, especially when their prices increase erratically. The resulting effect is low value added generation as can be seen in Table 5.5 compared with the national gross value added ratio of 54.07percent, only the tourist shops (54.4) and recreational services sectors surpassed the national average. In value terms, the tourism-oriented subsectors netted in 1988 a total of P24.7 billion as gross value added to the economy or a mere 3.1 percent of the country's total gross demestic product of P803.0 billion. The direct economic contribution, therefore, of the tourism industry as measured by its gross value added may not be as impressive as the other sectors of the economy. However, the industry's interrelationships with the other sectors is reflected in the extent to which it purchases from or sells to other industries' goods and services. This is what is referred to as the forward and backward linkages of the tourism industry with the other sectors and which is best measured through input-output analysis.

5.5 Linkages of the tourism industry


The direct linkage effects of the tourism industry, either as a seller of its output or a purchaser of inputs, have already been discussed in the previous sections. As shown in Table 5.3, the disposition patterns of the tourism-oriented subsectors showed that their outputs primarily went to final demand (93.0 percent) with only 7.0 percent of their outputs sold to the producing sectors. On the other hand, as a purchaser or user of inputs consumed in their production activities, Tables 5.4 and 5.5 showed that the tourism industry ranked second to the industrial groups in terms of its absorptive capacity of intermediate inputs ratio. The industry's intermediate input share of 57.8 percent is higher than those of agriculture, fishery and forestry (25.5 percent) and other services sectors (31.0 percent). With the interdependence and backward availability of sectors, linkage effects. of the Leontief inverse it is possible to determine which enables one to measure the total not only the direct but also the indirect forward

The forward linkage of an industry is measured by the index of sensitivity while backward linkage is measured by the index of the power of dispersion. In algebraic terms, the index of sensitivity, Ui, and the index of the power of dispersion, Uj' are formulated as:

L
= 1
I

r.. IJ

L
i= 1

L
= 1

r.. IJ

28

U.

L
=1 U
I

r.. IJ

= 1

L
i= 1 Where rij is the total interdependence number of sectors. coefficient

L
= 1

rc q

for row sector

and column sector

and n is the

Forward linkage is considered high when the index of sensitivity is generally more than unity (one). This implies that the particular industry sells most of its output to other sectors. If the index of sensitivity is less than one, it is generally the case that the output of that industry is primarily purchased or consumed by the final demand sector. The index of the power of dispersion measures the relative importance of an industry in purchasing and utilizing the output of other industries. Industries with indices of more than one are considered to have good backward linkage. Such industries utilize more intermediate than primary inputs thus establishing a broad and stable linkages with other sectors of the economy. Table 5.6 presents the relative sensitivity and influence of each of the 39 sectors of the economy as lifted from Appendix 5. Compared with other sectors, the tourism-oriented establishments exhibited low indices of sensitivity indicating a low forward linkage. The chemical products industry ranked first with a very high sensitivity index of 3.160 followed by the trade sector, this sector being the intermediary in the inter-industry transactions with 2.407, the food, beverage and tobacco manufacturing with 1.858 and agricultural crops with 1.751. It is understandable that the manufacturing and the agricultural sectors would have a high forward linkage because these sectors generally produce intermediate products for further processing by the other industries. In the case of the chemical industry, particularly technological innovations brought about by intensive research and development have resulted in the continuous production of new chemical products that have gained wide acceptability as an intermediate raw material by other industries. Agricultural crops, of course, generally are in raw form and must undergo further processing. All the seven tourism subsectors exhibited low indices of sensitivity indicating that a greater portion of their outputs find their way to the final demand sectors, i.e. households, government, and foreign visitors. This is attributable to the fact that the sector is primarily a service-oriented industry. Hence, its output is not used in further production of goods but rather to meet demands for such services as accommodation, food, tour assistance, etc.. Ranked according to their indices of the power of dispersion, the wood, cork and cane products including furnitures sector ranked first with an index of 1.321, closely trailed by the tourism-oriented sector of restaurants with 1.290. On the other hand, the chemical and petroleum industry sector, which registered the highest forward linkage of 3.160, exhibited a very low backward linkage of 0.781, ranking number 37 among the 39 sectors. The reason for its low index of dispersion is because the industry is heavily dependent on imported raw materials such as crude oil which is used in production. The primary sectors of agriculture and mining registered low backward linkages, these sectors being factor-intensivealready, thus having minimal requirements in other forms of inputs from other sectors. In contrast to their low forward linkages, the tourism subsectors exhibited high backward linkage effects as evidenced by their more than unity indices of the power of dispersion, with the exception of the recreational and cultural services which had an index of 0.898 and which ranked number 29 among the 39 sectors and the tourist bus/car service sector with 0.978 and ranked number 19. This is

29

Table 5.6 Sector forward-backward


Sector

linkages, 1988
Forward linkage Vi Rank Backward linkage Vi Rank

1.

Agriculture, 1 Agricultural 2 Livestock 3 Fishery 4 Forestry

fishery and forestry crops & poultry

1.751 0.972 1.062 1.074

4 14 8 7 11 19 3 10 18 5 1 16 9 13 35

0.788 0.921 0.945 0.815 0.838 0.849 1.202 0.896 1.321 1.214 0.781 1.192 1.117 0.912 0.916 1.039 0.981 0.853 1.057 1.264 1.014 0.830 0.901 0.959 0.900 0.922 0.756 0.954 1.056 0.931 0.774 1.266 0.978 1.175 1.201 1.098 0.898 1.290 1.135

36 17

22
35 33 32
6 30

2.

Industry 5 Metallic

group mining mining & tobacco apparel, mfg. footware

1.003 0.874 1.858 1.021 0.912 1.539 3.160 0.934 1.031


transport equip.

6 Non-metallic

7 Food, beverage 8 Textiles, wearing

9 Wood, cork & cane products 10 Paper, publishing 11 Chemicals, 12 Non-metallic 13 Basic metals 14 Fabricated metals, machinery, & printing products products

1 5 37 8 11 26 25 15 18 31
13

petroleum mineral

0.992 0.658 0.752 1.387 0.684

15 Miscellaneous 16 Construction 17 Electricity

manufactures

24
6 31 21 30 27 20 2 12 22 17 38 33 32 15 34 25 37 28 29 39 36 23 26

and gas

18 Water services

3.

Services

group other than tourism-oriented services

20 Other land transport 21 Water 24 Storage transport

0.808 0.686
services

services -related

& transport

0.706 0.830 2.407 0.997 0.786 0.927

16
34 27 207 28 24 39 21

25 Communication 27 Other trade 28 Financial 29 Insurance 30 Real estate 31 Ownership 32 Government of dwellings services & health services services

0.650 0.677 0.681 0.952


services services

33 Private education 34 Business 36 Personal 39 Sanitary, services

14
23 38

& household

0.668 0.717 0.651 0.704 0.699 0.650 0.652 0.776 0.709

social & related communities sectors services

3 19 9 7 12 29 2 10

4.

Tourism

-oriented

19 Tourist bus/car 22 Air transport

services

23 Tour & travel agencies 26 Tourist shops 35 Recreational 37 Restaurants 38 Hotels & other lodging places services

30

understandable because these two tourism sub-sectors practically offer a complete service which is not dependent on local materials. All the other tourism-oriented establishments appeared to be on. the upper half of the ranking. This means that these industries depend heavily on the system of industries for their raw materials, supplies and services as compared with others. A unit increase in the final demand for any of these industries' outputs will induce relatively larger output requirements from other industries which supply their basic raw material needs.

31

ANALYSIS

ON THE ECONOMIC

IMPACT

OF INTERNATIONAL

TOURISM

Introduction
This portion of the study deals with the analysis of the effects of international tourism on the Philippine economy. Specifically, it aims to measure the total impact of foreign tourist expenditures on output, income, employment, indirect taxes and import costs. The 1988 updated input-output table specially prepared for this study was used in quantifying the above-mentioned impact variables. Tourist expenditure has repercussive, or multiplier, effects throughout the economy. The fir'st round or direct effects occur in industries where the expenditure takes place, creating output, income (valueadded) and employment in that industry. Indirect effects occur in those activities supplying inputs to the first industry, creating additional output, income and employment there and so on. The direct effects of tourist expenditure are calculated using the direct input coefficient matrix as shown in Appendix 4. The calculation of the indirect effects involves the computation of the Leontief inverse (I -A)-1 where each element, rij' represents the total (direct plus indirect) output requirements per unit of final demand. The indirect effect is the difference between the total and the direct effects.

6.2 Tourist receipts, 1980-1990


Foreign tourist receipts are estimated using the component method. Given the number of visitors, the duration of stay and average daily expenditure, the total expenditures for the period are calculated. These estimates are reflected in the national income accounts as exports receipts for travel. Table 6.1 shows travel receipts from 1980 to 1990, valued at current prices. It can be observed that travel receipts had been growing at an average annual rate of 21.0 percent from 1980-1990. However, for the past two years, tourist receipts had declined. The year 1988 was a boom to international tourism recording an estimated tourist receipts of P29.9 billion. As a proponion to total gross domestic product of the country, travel receipts accounted 2.7 percent, on the average, from a high 0(3.7 percent in 1988 to a low of 1.9 in 1980. for only

6.3 Tourism in relation to other top exports


The total tourism receipt of P29.9 billion based on the Revised National Accounts (RNA) would effectively make the tourism industry the country's top foreign exchange earner. Tourism represents 13.2 percent of the country's total exports (sum of merchandise and non-factor services) of P226.4 billion in 1988. Of the total merchandise exports of P152.64 billion, tourism receipts of P29.9 billion would place it ahead of the garments industry which exported P27.9 billion and the electronics industry which generated P25.4 billion of exports. Tourism receipts would be equivalent to 30.4 percent of the total exports of P98.4 billion attributable to seventeen (17) principal merchandise exports which include, among others, garments, electronics, crude coconut oil, copper, gold, lumber, bananas and prawns. Clearly, tourism is the most promising especially in the light of government efforts to develop and promote non-traditional products to boost the country's foreign exchange earnings. Tourism is a unique and non-traditional industry which offers a vast opportunity in generating income and employment by properly projecting traditional Filipino values which would attract fore,gn tourists to visit the country. Tourism receipts also accounted for 40.6 percent of total exports of non-factor to P73.8 billion in 1988. It was closely followed by miscellaneous services services amounting with P29.4 billion,

32

6. 6.1

government (P8.0 billion), other transportation and communications (P6.2 billion) and insurance (PO.26 billion). Table 6.1 Travel receipts and gross domestic product, 1980-1990
Travel receipts Year Value (P million) Growth rate (percentage) 39.4 14.0 14.1 63.6 22.0 10.8

GDP
(P millions)

Travel receipts to GDP (percentage)

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 Source:

4,634.00 6,461.00 7,363.00 8,401.00 13,741.00 16,767.00 18,579.00 23,643.00 29,943.00 28,257.00 28,207.00 National Income Accounts Series. National Statistical Coordination Board.

243,749.00
281,595.00

317,177.00 369,077.00 524,481.00 571,704.00 609,254.00 685,874.00 803,016.00 922,561.00 ,066,306.00

27.3
26.6 (5.6) (0.2)

1.9 2.3 2.3 2.3 2.6 2.9 3.0 3.4 3.7 3.1 2.6

The status of tourism table on exports:

as a foreign

exchange

earner can be gleaned

from the following

summary

Table 6.2 Tourism and other exports, 1988, at current prices


(Millions of pesos)
Total exports Total merchandise exports Monetization of gold Principal merchandise exports Others Total non-factor services exports Other transportation and communication Insurance Travel (tourism) Government Miscellaneous services 152,637 6,572 98,346 47,719 73,794 6,194 260 29,943 8,003 29,394

6.4 Tourist expenditure patterns, 1980 and 1988


Table 6.3 shows the expenditure pattern of foreign visitors in the country for 1980 and 1988. Distributed according to the seven expenditure categories, the table shows that there had been a shift in the expenditure pattern between 1980 and 1988. This is evident in the largest expenditure category of accommodation which significantly declined from 34.8 percent of total expenditures in 1980 to 29.0 percent in 1988. Likewise, expenditures for food and beverage slightly dropped from 24.0 in 1980 to 22.3 percent in 1988. On the other hand, expenditures for entertainment and recreation and shopping were considerably increased.

33

Table 6.3 Foreign

tourist

expenditure (Percentage)

patterns,

1980 & 1988

1. 2. 3.4. 5. 6. 7.

Accommodation Food & beverage Sightseeing EntertainmenVrecreation Local transport Shopping Miscellaneous

34.80 24.04 3.09 8.75 5.26 18.33 5.73 100,00

28.96 22.29 1.58 15.31 3.10 25.45 3.31 100.00 29,943

Total
Millions of pesos Sample Surveys, 1980 & 1988, Department Office, National

4,634
of Tourism. Coordination Board.

Source:

-Visitor

-Economic

& Social Statistics

Statistical

It was this apparent shift in the expenditure pattern that made the project team use a more update 1-0 table in the impact analysis, in this case the 1988 1-0 update. For input-output use, the tourist expenditures had broken down into the seven categories were further disaggregated to conform with the 1-0 table sector classification. For this purpose, several research activities were undertaken, one of which was a special inquiry on tourist shops to solicit information on tourist purchases. The resulting 1-0 transformation of 1988 tourist expenditures is shown in Table 6.4 along with the other final demandcomponents.

Foreign tourist expenditures, denoted by FTE in the table, amounting to P29,943 million in 1988 is relatively small. It is only 13.1 percent of total exports of P226.4 billion and represents a mere 3.1 percent of total final demand of P962.9 billion. Its importance to the economy, however, lies not only on the amount of direct contribution but on the degree of influence of tourism on the other sectors of the economy. It should be noted that the tourism-oriented industries had indicated high backward linkages with other sectors which means that the indirect repercussions of tourist expenditure would be considerable.

6.5 Impact summary analysis


Table 6.5 summarizes the various effects of the final demand components on the 1988 economy. For purposes of the economic impact portion of the study, the final demand components were categorized into four groups, namely: (1) consumption (private plus government), (2) investment or gross domestic capital formation (gross fixed capital formation plus change in inventories), (3) nontourism exports (exports of goods and services other than for tourism), and (4) foreign tourism exports (foreign tourist expenditures). A comparative analysis of the various economic impacts shows that the tourism industry plays a progressive role in the economic development of the country. This finding is borne out by the impressive multipliers generated in the study. For example, the output multiplier for tourism (1.692) is the highest among the four final demand components. This value of 1.692 is interpreted as the number of (monetary) units the economic sectors have to produce to satisfy one unit of tourist expenditure. This finding confirms the previous result that the tourism-oriented sectors ranked high in backward linkage. International tourism's capacity to generate income is also high compared with other final demand components. Its multiplier of 0.792, interpreted as the amount the industry generates per unit of tourist expenditure, is higher than those of investment (0.708) and other exports (0.702). Income multiplier for consumption is slightly higher with 0.808. In absolute terms, total (direct + indirect) income effect in 1988 for tourism amounted to P23, 717 million measured by the GDP at factor costs, while direct income

34

Table 6.4 Sectoral distribution

of final demand by component,

1988

(millions of pesos)
PCE Value %
23,879 10,342 27,051 4,865
0 0

GCE Value % Value

Sector 1. Crops & Agricultural Services 2. 3. 4. Livestock & Poultry Fishery Forestry

GDCF %

NTE Value 5,052 30 5,275 119 8.421 365 16,092 9,107 9,181 735 10,234 728 12,276 22,474 2,311 2,167 817 0 0 8,697 4,982 5,724 0 %

FTE Value % 0
0 0 0 0

Total Value % 34,~


155 13,E

5. Metallic Mining 6. Non-Metallic Mining 7. Food, Beverage & Tobacco Mfg. 8. Textiles, Wearing Apparel. leather & Footware 9. Wood, Cork & Cane Products Including Furnitures 10. Paper, Publishing & Printing 11. Chemical & Chemical Products, Petroleum Products 12. Non-Metallic Mineral Products 13. Basic Metals 14. Fabricated Metal Products, Machinery. Transport Equipt. 15. Miscellaneous Manufactures 16. Construction 17. Electricity & Gas 18. Water Services 19. Tourist Bus/Car Services 20. Other land Transport Services 21. Water Transport Services 22. Air Transport Services 23. Tour & Travel Agencies 24. Storage & Services Related to Transport 25. Communication 26. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. Tourist Shops Financial Services Insurance Real Estate Ownership of Dwellings Government Services Private Education & Health Services Business Services Recreational & Cultural Services Personal & Household Services Restaurants Hotels & Other lodging Places CommunitY Services Total .PCE -Private consumption 27. Other Trade

4.32 1.87 4.89 0.88 0.00


0.00 31.93

5,590 3,483 0 1,144 (142)


0

5. 3.12 O. 00
1.03 -0.
13 00 O.

2.57 0.02 2.68 0.06 4.29


0.19

0.00 0.00 0.00


0.00 0.00 0.00
0,00

3.59

1. 44
3.36
0.' 64

32,"126
6,1 28

8,.~79
~ 165

0,86
O.04

0
0

176,521 18,896 2,066 366 33,766 879 899 5,614 3,629 800 9,220 1,375 565 24,832 3,023 5,751 363 2,171 2,144 1,065 72,955 5,655 4,045 14,956 40,718 46

4,544 642

4. 08

8.19 4.63 4.67 0.37 5.21 0.37 6.25


11.44 1.18 1.10 0.42 0.00 0.00 4.43 2.54 2.91 0.00 1.65

197,1 57 20.48
31,906

0.58 1.98 0.14 1.21 0.31 0.08


10.80 0.86 65.66 0.00 0.00 0.00 2.04 0.72 0.03 0.00

3,261

10.89

3.31
1.65 0.13 4.73

0.37 0.07 6.11 0.16 0.16 1.02


0.66

2.386
0

156

7.97 0.00 0.60


0.00 0,00 0.18 1.33 0.00 0.00 0.00 0.93 0.00 0.61 1.18 0.04 0.00 2.05 3.53 0.00 0.00 0.00 0.00 0.00 0.00 1.51 0.00 2.27 22.29 28.96 0.00

15,843 1,257

1,344
347 87 12,036 954 73,184 0 0 0 2,279 798 30 0 496
0 0

180 0
0

1.954 13.262 40.179 7.292 76.151 10.037 1.375


843

0.20
1.38 4.17 0.767.91 1.04 0.14 0.09

55

398
0 0

0.14 1.67 0.25 0.10 4.49 0.55 1.04 0.07


0.39 0.39 0.19 13.20 1.02 0.73 2.71 7.37 0.01

0 278
0

184 354 119 0 613


1,056 0

35.808 8.987 11.859


482 5,917 6,754 2,121 105,705 16,942 5,529 17,963 40,718 72,229 21,~~O9 118 8,~ 10,( '32 21,1 77
176 19,~ 178 9.f

3.72
0.93 1.230.05

0.44 0.00 0.00


2.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 100.00

3,250 3,997

0.61 0.70 0.22 10.98 1.76 0.57 1.87 4.23 7.50

2.03 030.471 0.00


\5.51

2,279
0 0

11,287 1,484 3,007 0 0

0 0

5.74 0.76 1.53 0.00


0.00 0.03 3.82 0.83 2.33
1.58

0
0

0 0
0

72.183 100.00

0 0 0
0 0 0 0

20.700

3.74

56 7,504 1,638 4,575 3,098 130 1,203

453 0 679 6.673 8.671 0

2.20
0.93 1.04

1.414 0.26 3.811 0.69


15.923 9.705
877 1.923

4.583 15.31

2.88
1.76

2.20 2.02
1.01 0.32

0.16
0.35

0.07 0.61

39. Sanitary, Social & Related 0 72,183 100.00 111.461 3,126 552.810 100.00 expenditures expenditures

196,487100.00

29,943 100.00

962,884 100.00

NTE FTE

-Non-tourist -Foreign

exports tourist expenditure (Exports)

GCE GDCF

-Government -Gross

consumption

domestic

capital formation

35

3.42 2.210 45.524 02 ;21

effect was calculated at P13,O98 million. The indirect income effect is therefore P23,717 and P13,O98 which is P10,619 million.

the difference

between

Table 6.5.

Summary findings of economic impacts, 1988


Components of final demand

Multipliers'
Foreign tourism exports Consumption Nontourism exports Foreign tourism exports

Consump- Investment tion

Nontourism exports

Investment

Figures
2

refer to total requirements refer to number

per unit of final demand-. per one million units of final demand.

Figures

of employees

On employment generation, the tourism sector also ranked the highest with an employment multiplier of 25.3 persons per one million pesos of tourist expenditure. This indicates once more the critical role that tourism can play in the special programmes of government on employment generation. The employment multiplier for investment goods is the lowest (17.1) because these goods are more capital-intensive than labor-intensive.

On government generation of indirect taxes, tourism ranked next to non-tourism exports. Nontourism exports posted an indirect tax multiplier effect of 0.071 units for every unit of exports demand. The government expects to earn PO.062 per peso tourist expenditure. The data on import cost effects show that the production of goods and services for final consumption required the least amount of importations with PO.135 import costs per peso of consumption demand. In contrast, the import contents of investment goods and non-tourist exports exhibited high multipliers of 0.239 and 0.228, respectively, while tourist expenditures had a total import content of only 0.146. The import multiplier of tourism of 0.146 determines the amount of the "leakage" deducted from tourist receipts to obtain the net foreign exchange earning. that needs to be

In 1988, the net foreign exchange earning, therefore, is 0.854 or 85.4 centavos for every peso (100-14.6) of tourist expenditure. It should be noted that net foreign exchange earnings from tourism is relatively higher than those of other export products which netted only 77.2 centavos (100-22.8) per peso of export receipts.

36

6.6 Summary of findings


1 In 1988, the total value of goods and services available to the Philippine economy reached P1,700.3 billion valued at current prices. Of this total, domestic production accounted for P1,485.1 million or 87.3 percent while the remaining 12.7 percent was supplied through impons. On the demand side, domestic demand reached P1,473.9 billion or 86.7 percent of total supply. The remaining 13.3 percent were exported to the rest of the world. The intermediate demand represented by the production sectors absorbed P682 billion or 40.1 percent of total supply. The balance of P792 billion or 46.6 percent went to final consumption by households, government and investment goods. Out of the total domestic production of P1,485.1 million, P522 billion or 35.2 percent was absorbed by intermediate demand. The remaining 64.8 percent or P963 billion wonh of goods and services went to satisfy final demand, either for consumption, investment, nontourism expons and tourism expons. The teniary or service sector which includes the tourism-oriented industries catered mostly to final demand. Tourism-oriented sectors, panicularly, delivered 93 percent of their outputs to final demand catering primarily to the needs of households and international tourists, with only 7.0 percent sold to meet intermediate demand. The gross output generated by the tourism industry totalled P58.6 4 percent of the national total production of P1 ,485.1 million in 1988. billion or roughly

More than half of the tourism industry's output can be attributed to restaurant and hotel subsectors which had a combined gross receipts of P31.5 billion. Tourist bus/car services and travel agencies recorded the least combined output of only PO.4 billion. Among the tourism-oriented sectors, the hotel industry catered most of its output directly to foreign guests (82.6 percent). Tourist shops and recreational services subsectors devoted almost half of their outputs to international tourism. The local air transpon industry derived only 2.6 percent of their total revenue from foreign tourism as the larger share of its output was generated from the local population (42.4 percent) as well as from freight revenues from expons of goods (42.2 percent). Of the economy's total production of P1,485.1 billion in 1988, P803.0 billion or 54.1 percent was generated as factor incomes (equivalent to gross value added) in the form of salaries and wages, indirect taxes paid to government and operating surplus. Net of indirect taxes, the country's GDP at factor cost stood at P745.2 billion at current prices or 50.2 percent of total output. The whole economy required an average of 35.2 units of domestically produced and 10.8 units of imponed goods and services to produce 100 units of output or a total of 46 units of intermediate inputs. The tourism industry posted a gross value added of 42.2 units per 100 units of output. It also showed a high degree of intermediate input absorption, accounting for 52.1 units of locally produced and 5.7 units of imponed inputs or a total of 57.8 units, much higher than the national average. Except for the recreational service subsector, all the other six subsectors exhibited high total intermediate input proportions, as follows: (a) restaurants with 66.1 units; (b) air transport with 72.0 units; (c) hotels with 51.5 units; (d) travel agencies 52.6 units; (e) tourism bus/car service with 47.1 units; and (f) tourist shops with 45.6. The recreational services subsector had an intermediate input absorption of only 31.6 units. The seven tourism-oriented subsectors netted in 1988 a total of P24.7 billion as gross value added to the economy or a mere 3.1 percent of the country's total gross domestic product of P803.0 billion.

37

10. 9. 8. 6. 5. 4. 3. 2. 12. 11.

a purchaser or user of inputs consumed in their production activities, the tourism industry ranked second to the industry group in terms of absorptive capacity of intermediate inputsratio. The industry's intermediate input share of 57.8 percent is higher than those ofagriculture fishery and forestry (25.5 percent) and other services sector (31.0 percent). Tourism-oriented establishments exhibited low indices of sensitivity indicating a low forwardlinkage. This is attributable to the fact that the sector is primarily a service orientedindustry. Hence, its output is not used in further production of goods but rather to meet demands for such services as accommodation, food, tour assistance, etc.. In contrast, the tourism-oriented means that the sector depends supplies and services. enterprises exhibited high backward linkage effects. This heavily on the system of industries for their raw materials, by international tourism. This

An estimated tourist receipts of P29.9 billion were generated would represent 2.7 percent of total gross domestic product.

Based on data available on the top exports of the country, international tourism would appear to be the top foreign exchange earner with its total receipts of P29.9 billion. It comprises 19.6 percent of national total merchandise exports amounting to P152.6 billion in 1988 at current prices. Garments had total exports of P27.8 billion while semi-conductors and electronic micro circuits earned export receipts of P25.4 billion. International tourism receipts of P29.9 billion also accounted for 40.6 percent of the country's total exports of non-factor services amounting to P73.8 billion in 1988 at current prices. Miscellaneous services totalling P29.4 billion or 39.8 percent closely followed as top non-factor services export. Expenditure pattern of tourists in 1988 indicated accommodation as the biggest item, accounting for P8.7 billion or 28.9 percent of total tourist receipts. The next big expense is for shopping amounting to P7.6 billion or 25.4 percent, followed closely by food and beverage with P6.7 billion or 22.3 percent.

20.

Tourism's output multiplier of 1.692 is the highest among the final demand components. Its income multiplier of 0.792 is also considerably higher than those of investment (0.708) and other exports (0.702). Of total indirect tax payments to government of P57.74 billion, only P1.85 billion or 3.2 percent was attributable to tourism. Tourism, therefore, had an indirect tax multiplier of 0.062 or 6.2 centavos per peso of tourist demand.

22.

On employment generation, the tourism sector also ranked the highest with an employment multiplier of 25.3 persons per one million pesos of tourist expenditure. Total employment generated by tourism was 756,400 or 3.6 percent of the country's employed labor force of 20.9 million. Its labor-output ratio of 9.96, however, is much lower than the national average of 13.03. For tourism goods and services, the economy required imported inputs amounting to P4.4 billion or 2.7 percent of total imports. The tourism industry had an import multiplier effect of 0.146, implying a net foreign exchange earning of 0.854 or 85.4 centavos for every peso of tourist expenditure.

6.6.1 Impact of final demand on production


Table 6.6 shows the total (direct plus indirect) effects of the components of final demand on sectoral production. Of the total production value of P1 ,485 billion in 1988, some P961.4 billion or 64.7 percent of the total was required to satisfy the demand for final consumption. Total output requirements induced by non-tourist export goods amounted to P298.8 billion or 20.1 percent of the total. The economy has to produce P174.2 billion worth of goods and services to meet investment demand amounting to P111.5 billion in 1988. To satisfy expenditures of international tourists totalling P29.9 billion, the economy set aside some P50.7 billion worth of domestic goods and services.

38

As 13. 19. 16. 15. 21 23.

These total output requirements

were estimated using the matrix equation:

Where

x x
y
(I-A)-1

(I-A)-1 Y matrix of sectoral outputs induced by components matrix of final demand; and Leontief inverse of final demand;

=
= =

Table 6.6 also shows the output multiplier effects induced by the components of final demand. Foreign tourist expenditures registered the highest output multiplier of 1.692, followed by investment goods with 1.563. These are calculated as the ratio of total output requirements in each final demand component to the corresponding total multiplier of 1.692, calculated as the ratio of P50,676 million total output requirements to P29,943 million total tourist expenditures. In short, these multipliers represent the value of production to satisfy one (monetary) unit of tourist expenditure. Exports other than for tourism registered the lowest output multiplier of 1.521.

Table 6.6 Impact of final demand on production (output), 1988


(Values are in million pesos)
Sector Consumption Value %
104,450 38,608 41,568 7,015 1,447 1,358 232,871 26,324 4,046 11,529 11 79.02 82.46 81.29 40.58

Investment Value %
8,910 4,618

Non-tourism export
Value % 11.54 6.33 15.55 28.41 75.25 24.13 8.84 27.74 44.93 25.45 24.17 13.08 55.76 45.41 31.39 2.78 22.96 6.46 0.12 23.92 50.54 45.49 0.00 50.94 51.33 0.00 26.67 52.29 27.62 18.37 0.00 0.32 1.07 64.66 16.35 21.26 16.87 3.54 36.03 20.12

Tourism exports Value %


3,574 632 1,119 1,260 57 41 3,771 5,043 3,183 386 1,975 71 105 229 405 37 784 54 290 115 232 444 128 67 783 1,056 2,659 363 119 178 0 17 469 248 4,599 695 6,750 8,711 28 50,676 29,943 1.692

Total Value
132,186 46,820 51,135 17,287 '18,722 5,134 267,~66 44,877 26,007 17,630 110,319 11,818 32,653 55,315 7,513 80,977 32,881 2,478 858 41,129 10,641 13,558 519 7,041 10,156 2,121 159,480 29,633 9,124 21,731 40,718 72,748 22,530 14,421 10,072 21,964 20,993 10,495 4,213 1,485,055

%
100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

499
4,100 3,129 2,496 6,904 1,061

4 5

7.73
26.45 87.16 58.66 15.56 65.39 66.76 29.79 11.47 22.62 50.35

6.74 15,252 9.86 2,962 0.98 7,949 23.72 4,912 16.7148.62 14,089

2.70 1.35 2.19

7.29
0.30 0.80 1.41 11.24 12.24 2.19 1.79 0.60 0.32 0.41 5.39 0.05 2.38 2.18 33.80 0.28 2.18 3.27 24.66 0.95 7.71 49.79 1.67 1.22 1.30 0.82 0.00 0.02 2.08 1.72 45.66 3.16 32.15 83.00 0.66 3.41

1.239
2.58 2.36 27.27 6.97 7.28 56.53 32.45 31.56 12.87 90.39 4.11 1.61 0.00 23.620 12,449 11,686 4,487 26,666 1,546 18,206 25,119 2,358 2,252 7,548 160 1 9.837 5.378 6,168
0

7,092
1,228

12
"2

73,650 3,520 3,745 12,511 3,783 5,491 23,198 2,224 567 28,309 4,062 6,767 391 2,811 4,015 1,065 105,392 12,611 6,263 17,430 40,718 72,485 21,783 4,379 3,826 16,571 10,631 1,373 2,632 961,415 624,995 1.539

8,028
6,681 10,597 17,456

967
73,197 1,351

6.78
70.55 89.75 66.08 68.83 38.17 49.91 75.34 39.92 39.53 50.21 66.08 42.56 68.64 80.21 100.00 99.64 96.68 30.37 37.99 75.45 50.64 13.08 62.47 64.74

17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Total Final demand Output multiplier

40
0 2,868

6.97
9.11 1.32 0.00 8.18 1.43 0.00 5.58

969 179
0

576 145
0 8,902 1,164

3,587 5,213 0 42.527 15.495 2.520 3,991


0

3.93
2.43 0.61 0.00 0.01 0.16 3.26 0.00 0.13 0.34 0.37 0.83 11.73

222 132
0

10 37 470
0

236 241 9,324 1,647 4.669 3.541 372 1,518 298,764 196,488 1.521

29 71 39 35
174,200 111,460 1.5631

39

Table 6.7 shows the disaggregation of total output requirements to meet foreign tourism demand. The table shows that indirect output totalling P20.7 billion were required to satisfy tourist expenditures of P29.9 billion. This represents 40.9 percent of total output requirements of P50.7 billion. Most of these indirect production were concentrated in agriculture, food manufacturing, chemical industries, utilities sectors, business and trade services. 6.6.2 Impact on income

Income is measured in this study as gross domestic product (GDP) at factor cost. It is equal to the sum of compensation of employees, depreciation and operating surplus. Table 6.8 shows the effects of final demand on gross value added. Gross value added or GDP at market prices is equal to GDP at factor cost plus indirect taxes less subsidies. The impact of final demand on value added is estimated as:

V
Where V B X

=
= = =

B.X
matrix of value added by component matrix of value added coefficients matrix of output requirements derived from Appendix Table 2 induced by each component of final

demand.
Table 6.8 shows the factor intensities of each component of final demand. It can ben observed that tourist expenditures for goods and services are less labor intensive (34.1 percent) than consumption (35.4 percent) and investment goods (37.4 percent), based on the figures on compensation of employees. However, tourist goods are more capital intensive (8.7 percent) than consumption goods (6.9 percent). Expectedly, investment good demand and non-tourism exports had higher capital intensities of 16.04 percent and 9.52 percent, respectively. Total income effect for tourism is higher than that for other export goods (92.8 percent vs. 90.9 percent). Consumption, which normally buoys up the economy, had the highest income effect of 93.3 percent. The effect on indirect tax payments by tourism is fairly high with 7.2 percent, as against 6.7 percent for consumption goods. Exports posted the highest indirect tax effect of 9.1 percent. Table 6.9 shows the sectoral impact of final demand components on income. It can be observed that total income generation per dollar of tourist expenditure stood at 79.2 cents. This is higher than those of investment and other exports with income multiplier of 0.708 and 0.702, but lower than that for consumption with 0.808. The bulk of this tourism income generation was produced in the crops and agricultural services, food manufacturing, textile manufacturing, other trade, recreational and cultural services, restaurants, hotels and on lodging places. Table 6.10 shows the sectoral breakdown of the total impact of international tourist expenditures of P29,943 million in 1988 on income into its direct and indirect effects. The table shows that the economy was able to derive directly an estimated P13,046 million from tourist spending or 55.0 percent of the total income effect of P23,718 million. The remaining 45.0 percent or P10,672 million was generated indirectly. It can be observed that, while the primary sectors of agriculture, forestry and mining (sectors 01-06) do not contribute directly to the economy, their indirect effects appeared to be substantial accounting for 44.7 percent of the total indirect income effect. The trade sector except tourist shops (sector 27) and the food, beverage and tobacco sector (sector 07) also contributed substantially accounting for 17.6 and 11.7 percent, respectively. Indirect income from the tourist-oriented sectors such as tourist bus/car services (sector 19), air transport (sector 22), travel agencies (sector 23), tourist shops (sector 26), recreational services (sector 35), restaurants (sector 37) and hotels (sector 38) registered very minimal effects.

40

Table 6.7 Total

(direct

and indirect)

effects of foreign tourist (output), 1988 (Values are in million pesos) Total output Value %

expenditures

on production

Direct Value %

Sector
Crops & Agricultural & Poultry Services

Indirect Value

% 100 00 100 00 100 00 100 00 100 00 100 00 100 00 35.34 25.04 100,00 90.89 100.00 100.00 75 .98
1 .73 100
.00

2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14.


15. 16.

Livestock Fishery Forestry Metallic

3,574 632 1,119 1,260 57 41


Mfg.

100. 100. 100. 100. 100. 100. 100. 100.00 100.00 100.00 100.00 100.00 100.00 100.00
100 00

3,574 632 1,119 1,260 57 41 3,771

Mining Mining & Tobacco Apparel,

Non-Metallic

Food, Beverage Textiles, Wearing

3,771 5,043 3,183 386 1,975

Leather

& Footware

3,261 2,386

64.66

1,782 797 386

Wood, Cork & Cane Products Including Furnitures & Printing Products

74.96

Paper, Publishing Chemical

& Chemical Products Mineral

Petroleum Non-Metallic Basic Metals Fabricated

180

9.11

Products

71 105

1,795 71 105

Meta! Products, Transport Equipt. 229 405 37 & Gas 784 54 Services Services 290 115 232

Machinery, Miscellaneous Construction ElectricitY

55 398

24.02
98.27

174

Manufactures

7
37

100.00 100.00 100. 00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100. 00 100.00 100. 00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100,00 100.00 29,943 59.09 4,583 679 6,673 8,671 99.65 97.70 98.86 99.54 453 613 1,056 78. 100. 184 354 119 79. 79. 278 95.

17. 18. 19.


20. 21. 22. 23. 24. 25. 26. 27.

Water Services Tourist Bus/Car

784 -863173972900 54
12 115 48

100 .00 100


.00

4 .14
100 .00 20 .69 20 .27

Other Land Transport Water Transport

Services

Air Transport

Services

444
128 67 783 1,056 2,659 363 119 178

90 9
67 170

Tour & Travel Agencies Storage & Services Related to Transport

92.

7 .03
100 .00.71

Communication Tourist Shops Other Trade Financial Insurance Real Estate Ownership Government of Dwellings Services & Health Services Services

21
100
.00

2,659 363 119 178

28.
29. 30. 31. 32.

100 .00 100 100


.00 .00

17 469 248 Services Services 4,599 695 6,750 Places

96.59

17 16 248 16 16 77

100

.00

33.34.Private Education
Business Services

3 41
100 00

35. 36.

Recreational Personal

& Cultural

35

& Household

2 30
1 14 0 .46 100.00 40.91

37.38.39. Restaurants
Hotels & Other Lodging Sanitary, Social & Related Services Total [

8,711 28

40
28

CommunitY

20,734

41

50,677 00000000000000

Table 6.8

Impact of final demand on components


(Values are in million pesos)

of value added, 1988

Component of value added

Investment

Value
1. 2. 3. 4. Compensation of employees Operating surplus Depreciation GDP at factor cost Indirect taxes less subsidies
Total (GVA)

percent Value

percent 37.44 39.43 16.04 92.92 7.08

Exports Non-toursim Tourism Value percent Value percent 49, 053 74,418 14, 445 137,916 13,858

Total Value percent 280,874 396,945 67,461 57,736 34.98 49.43 8.40 92.81 7.19

191,333 276,267
37,184

32.: 3203 8,712


49.1 9.! 52

34.08 50.04 8.66 7.23

12,791 2,214 1,847 25,564

504,784 36,018 540,802 100.00 84,876

90.1 B713 23,717

92.77 745,280

9.

100.00 151,774

100.00 803,016 100.00

Impact on employment Two ways of measuring the impact of tourism on employment are through the use of the Labor Multiplier Coefficients (LMC) and Labor-Output Ratios (LOR). The LMC indicates the number of employment created per one million pesos of tourist expenditures. It is computed by getting the ratio ofthe number of employment and the amount of tourist expenditures. On the other hand, the LOR represents the number of employment required to produce one million of output. It is the ratio of number of employment and output.

Labor multiplier coefficients

Total employment generated due to foreign tourist expenditures reached 756.4 thousandpersons. This represents a mere 3.6 percent of total employment of 20,934.7 thousand in 1988.Nevertheless the employment multiplier of tourism of 25.3 as shown in Table 6.11 is the highest among the four final demand components. Non-tourism exports exhibited an employment requirement of only 18.3 persons per one million pesos of output.

estimating equation is:


A

L Where

L.X

=
A

vector of number of persons required to sustain tourism demand;

diagonal matrix of labor-output ratios Ii, where Ij is the ratio of the number of employed persons in sector j per 1 million pesos output of that sector (Appendix 6).

Employment multiplier for sectors producing investment goods is the lowest at 17.1 persons per 1 million peso output. This is understandable because a large portion of investment goods is capital-intensive. It is interesting to note that the agricultural sector (No.1) contributed an unexpected large number of persons employed to sustain the demand for tourism. In 1988, the sector employed indirectly some 221.7 thousand persons out of 756.4 thousand required. This can be explained by the fact that restaurants, which comprise the biggest subsector in the tourism industry, use a great amount of agri-sourced materials.

42

Consumption 100.00 6.6.3 6.6.3. The L

Table 6.9 Sectoral Impact of final demand on Income (GDP), 1988


(Values are in million pesos)
Sector Consumption Value 1. Crops & Agricultural Service 2. Livestock & Poultry 3. Fishery 4. Forestry 5. Metallic Mining 6. Non-Metallic Mining 7. Food, Beverage & Tobacco Mfg. 8. Textiles, Wearing Apparel, Leather & Footware 9. Wood, Cork & Cane Products Including Furniture 10. Paper, Publishing & Printing 11. Chemical & Chemical Products, Petroleum Products 12. Non-Metallic Mineral Products 13. Basic Metals 14. Fabribated Metal Product Machinery, Transport Equipt. 15. Miscellaneous Manufactures 16. Construction 17. Electricity & Gas 18. Water Services 19. Tourist Bus/Car Services 20. Other Land Transport Services 21. Water Transport Services 22. Air Transport Services 23. Tour & Travel Agencies 24. Storage & Services Related to Transport 25. Communication 26. Tourist Shops 27. Other Trade 28. Financial Services 29. Insurance 30. Real Estate 31. Ownership of Dwellings 32. Government Services 33. Private Education & Health Services 34. Business Services 35. Recreational & Cultural Services 36. Personal & Household Services 37. Restaurants 38. Hotels & Other Lodging Places 39. Sanitary, Social & Related Community Services Total Final demand Multiplier 973
504,783

Investment Value 6,837 2,937 323 2,760 1,601 1,654 2,282 396 1,744 % 6.74 9.86 0.97 23.72 16.72 49.62

Non-tourism export Value %

Tourism exports Value %

Total Value %

% 79.02 82.46 81.29 40.58 7.73 26.46 87.16 58.66 15.56 65.39 66.76 29.79 11.47 22.62 50.36 6.78 70.55 89.75 66.20 68.83 38.17 49.92 75.34 39.93 39.54 50.18 66.08 42.56 68.63 80.20 99.64

80,147 24,555 26,941 4,722 740 900 76,965 9,830 995 3,051 13,331 1,186 762 3,139 1,796 2,768 12,064 1,585 284 12,504 1,282 1,210 168 1,545 2,755 555 74,592 7,759 4,269 12,236 48,036

11,703 1,884 5,152 3,307 7,207 821 7,806 4,649 2,874 1,188
4,826 521 3,706

11.54 6.33 15.55 28.42 75.25 24.13 8.84 27.74 44.93 25.46
24.17 13.09 55.76

2,743 402

2.70 101,430 100.00 1.35 2.19 7.29 0.30 0.79 1.41


11.24

29,778 100.00 33,141 100.00 11,637 100.00 9,577 100.00 3,402 88,299
16,758

725
848 29 27 1,246
1,883

100.00 100.00
100.00

2.58
2.36 27.27 6.97 7.28 56.52 32.46
31.56 12.87 90.39 4.11 1.59 0.00

783 102 358


24 21

12.24 2.19 1.79 0.60 0.32


0.41 5.38 0.05 2.39 2.21 33.8 0.28 2.17 3.26 24.66

6,396

100.00

325
1,453 2,250 2,157
4,380 459 36,897 702 28

4,666 100.00 19,968 100.00 3,981 100.00 6,646 100.00


13,879 3,566 40,819 17,099 1,766 429 18,167 3,359 2,424 223 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

6,303 1,119 1,135 3,925 114 4,345 1,698 1,103

45.41 31.38 2.78 22.95 6.46 0.00 23.92 50.55 45.50 0.00

57 192 19 408 39 145 51 73 79 55

1,267 306

6.97 9.11

32

1.32
0.00

316 99
6,300 716

8.17
1.42 0.00 5.58 3.93 2.44 0.61 0.00 0.01 0.16 3.26 0.00

1,971 3,576 30,099 9,533 1,718 2,802 157 132 5,818 1,106 3,784 1,110 161
561

50.94 51.33 0.00 26.67 52.29 27.62 18.37 0.00 0.33 1.07 64.66 16.35 21.26 16.87 3.54
36.03

37 537 551 1,882 224 81 125 11 257 155 563 2,116 3,770
10

0.96 7.71 49.82 1.23 1.30 0.82 0.00 0.02 2.08 1.72 3.16 32.16 83.00 0.64

3,869 100.00 6,967 100.00 1,106 100.00 18,232 100.00 6,220 36,558 48,211 100.00 100.00 100.00 15,256 100.00

1.67 112,873 100.00

152 93 7 20 293

36,558 100.00 11,92196.69 2,732 30.36 2,570 13,431 3,332 594 37.98 75.45 50.64 13.08 62.49
67.73

12,330 100.00 8,998 100.00 6,766100.00 17,802 100.00 6,580 100.00 4,542 100.00 1,557 100.00

3,09045.67

24

0.13
0.33 0.37
0.83

22
17 13
78,862

10.58 137,914 11.58 196,488


0.702

18.51 23,718 20.41 29,943


0.792

3.18 745,277 100.00 3.11 962,886 0.774 100.00

624,995
0.808

64.91

111,460
0.708

43

Table 6.10

Impact of foreign tourist expenditures (Values are in million pesos)


Total Direct % 11.57 1.69 3.06 3.58 0.12 0.11 5.25 7.94 3.30 0.43 1.51 0.10 0.09 0.24 0.81 0.08 1.72 0.16 0.61 0.22 0.31 0.33 0.23 0.16 2.26 2.32 7.93 0.94 0.34 0.53 0.00 0.05 1.08 0.65 13.03 2.37 8.92 15.90 0.04 100.00 Value
0

on Income,

1988

Sector

Indirect % 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9.34 4.50 0.00 0.25 0.00 0.00 0.11 1.45 0.00 0.00 0.00 1.07 0.00 0.44 0.48 0.39 0.00 3.23 4.22 0.00 0.00 0.00 0.00 0.00 0.00 1.90 0.00 23.60 4.22 16.04 28.77 0.00 100.00

Value
2,743

Value
2,743 402 725 848 29 27 1,246 665 196 102 325 24 21 43

% 25.70 3.77 6.79 7.95 0.27 0.25 11.68 6.23 1.84 0.96 3.05 0.22 0.20 0.40 0.03 0.18 3.82 0.37 0.06 0.48 0.14 0.15 0.04 0.35 1.09 0.00 17.63 2.10 0.76 1.17 0.00 0.10 0.08 1.45 0.10 0.12 0.22 0.16 0.09 100.00

2
3

402 725 848 29 27 1,246 1,883 783 102 358 24 21 57 192 19 408

0 0 0
0 0 0 1,218

4
5
6

7
8

9 10 11 12 13 14 15 16
18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Total

587
0

33
0 0

14 189
0

3
19 408 39

0
0

39 145 51 73 79 55 37 537 551 1,882 224 81 125

139
0

6
51 15 16

58 63 51
0

4
37 116

421 551
0 0 0 0 0 0

0
1,882 224 81 125

0 11
257 155 3,090 563

0 11 9
155

248
0 3,079

11
13 24 17 10

550
2,092

2,116
3,770 10 23,718

3,753
0 13,046

10,672

44

Table 6.11 Impact of final demand on employment generation, 1988


Sector Consumption Number % 6,477.4 272.1 1,038.9 66.1 9.8 9.0 425.5 462.2 64.7 45.8 62.7 13.1 79.02 82.45 81.28 40.55 7.72 26.47 87.16 58.65 15.56 65.43 66.77 29.71 11.42 22.60 50.37 6.78 70.65 89.57 66.67 68.83 38.16 49.74 75.38 39.94 39.52 50.29 66.09 42.58 68.75 80.34 0.00 99.63 96.70 30.37 37.97 75.45 50.64 Investment Number % 552.5 32.5 12.5 38.7 21.2 16.5 12.6 18.6 113.4 4.9 6.8 6.74 9.85 0.98 23.74 16.69 48.53 2.58 2.36 27.27 7.00 7.24 56.46 32.53 31.58 12.84 90.39 4.03 1.74 0.00 6.98 9.11 1.54 0.00 8.17 1.43 0.00 5.58 3.95 2.50 0.69 0.00 0.01 0.16 3.26 0.00 0.13 0.34 0.37 0.84 9.12
Non-Tourism Number Export %

Tourism Exports Number % 221.7 4.5 28.0 11.9 0.4 0.3 6.9 88.6 50.9 1.5 1.7 0.3 0.0 0.6 5.9 0.4 1.5 0.5 2.6 1.7 2.2 0.6 1.6 0.9 4.9 17.3 45.6 1.5 0.6 0.2 0.0 0.2 18.3 2.70 1.36 2.19 7.30 0.31 0.88 1.41 11.24 12.24 2.14 1.81 0.68 0.00 0.41 5.41 0.05 2.42 2.17

Total Number 8,197.5 %


100,00 100.00 100.00 100,00 100,00 100.00 100.00 100.00 100.00 100.00 100,00 100.00 100,00 100,00 100.00 100,00 100,00 100.00 100.00 100,00 100.00 100.00 100,00 100.00 100,00 100,00 100.00 100.00 100,00 100,00 0.00

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
29

945.9 20.9 198.7 46.3 95.6 8.2 43.2 218.6 186.9 17.8

11.54 6.33 15.55 28.40 75.28 24.12 8.85 27.74 44.94 25.43 24.17 13.15 56.06 45.41 31.38 2.78 22.90 6.52 0.00 23.91 50.51 45.64 0.00 50.97 51.27 0.00 26.67 52.26 27.50 18.28 0.00 0.33 1.07 64.63 16.38 21.26 16.86 3.50 36.07 17.21

330.0
1,278.1 163.0 127.0 34.0 488.2 788.0 415.9 70.0 93.9 44.1 28.9 146.0 109.0
830.1

24.9
9.4 46.1 14.0 750.3 2.5 0.4 0.0 42.1 9.0 0.3 0.0 8.0 0.9 0.0 152.8 4.9 1.2 0.2

22.7 5.8
16.2 66.3 34.2 23.1 14.2 1.5 0.0 144.3 49.9 8.9 0.0 49.9 32.3 0.0 730.2 64.8 13.2 5.3 0.0

3.3
33.0 54.9 56.3 43.8 20.6 5.2 415.3 37.7 9.7

62.0 23.0 7.8 603.4 98.8 19.5 6.5 97.9 63.0 34.8 2,738.2 124.0 48.0 29.0

33.33
0.28 2.23 3.08 24.62 0.92 7.78 49.71 1.67 1.21 1.25 0.69 0.00 0.02 2.08 1.74 45.65 3.16 32.16 83.06 0.65 3.61

4.9
39.1 24.9 17.5 1,809.6 52.8 33.0 23.3

30 31 32 33 34
35

0.0
815.0 851.8 57.7 52.4 1,064.5 119.5

0.0
0.1 1.4 6.2 0.0

0.0
818.0

2.7
9.4 122.8 22.6 299.9 39.8 1.9 38.6 3,602.6 196,488.0 18.3

100.00
100,00 100.00 100.00 100,00 100,00 100.00 100,00 100.00

880.9
190.0

3.3
63.0

138.0 1,410.9 236.0 54.3 107.0 20,934.7 962,886.0 21.7

36 37 38
39

1.9
0.8 0.2 0.9 1,908.7 111,460.0 17.1

44.6
75.9 45.1 0.7 756.4 29,943.0 25.3

7.1 13.08 66.814,667.0 62.43 70.06 624,995.0

Total
Final demand (P Million) Multiplier

23.5

45

6.6.3.2

Labor-output ratios

As previously stated, the total employment effects of tourism on the economy can be better appreciated through the use of Labor-Output Ratios (LOR). These ratios make possible the generation of estimates of manpower requirement needed in each sector to meet demand for tourism goods and services. For the purpose of this study, sectoral labor-output ratios refer to the number of persons employed per unit of output. The LOR is expressed in terms of number of employed persons per P1 million output. Table 6.12 which summarizes Labor-Output Ratios shows that the national economy had an average LOR of 13.03. Classified on the sectoral level, the LOR of the primary sector represented by agriculture, fishery and forestry stood at 25.87. Expectedly, the subsector of crops and agricultural services showed a very high LOR of 62.01. The secondary or industrial sector had an LOR of 6.92, with textile manufacturing, wood, cork and cane products and miscellaneous manufactures subsectors registering much higher LORs of 17.56, 15.99 and 14.51, respectively. The tertiary sector of services other than tourism-oriented showed an LOR of 17.32. Tourism-oriented services had an LOR of 9.96, thereby indicating that every million of output to meet tourism demand generated employment for almost ten people. Among the tourism-oriented subsectors, tourist shops had the highest LOR of 16.40, followed by recreational and cultural services with 13.70, tour and travel agencies with 12.62 and restaurants with 11.24. Tourist bus/car services had an LOR of 9.11. Air transpor1 services (1.44) and hotels and other lodging places (5.18) registered the lowest LaRs.

6.6.3.3

Direct and indirect employment impact

Table 6.13 shows the total impact on employment broken down into its direct and indirect effects. It can be observed that, of the total employment requirements of 756,400, some 372,900 people were directly hired to satisfy international tourism demand or 49.3 percent of the total. The agricultural sector had no direct employment effects induced by tourism. The indirect employment requirements appeared to be higher, totalling 383,500 employees or 50.7 percent of the total employment impact. The agricultural crops sector alone accounted for 221,700 persons or 57.8 percent of the total indirect effect, followed by the trade sector with 45,600 persons and the textiles and apparel sector with 31,300 people required indirectly to meet tourism demand. Impact on net indirect taxes Indirect tax payments to government totalled P57, 735 million in 1988. Out of this total, some P36,O15 million was generated due to final consumption, P13,858 million due to exports other than tourism, and only P1,847 million due to international tourism. This is estimated as:
J\

s
where

s.x

S
1\

= =

vector of net indirect taxes (less of subsidies); diagonal matrix of net indirect tax coefficients derived from Appendix Table 2;

and

matrix of total output requirements.

46 6.6.4

Table 6.12 Labor-output


Sector Agriculture, 1. 2. 3. 4. Fishery & Forestry

ratios
LOR (EIP millions)

25.871
62.015 7.048 24.993 9.429

Crops & Agricultural Services Livestock & Poultry Fishery Forestry

Industry Groups 5. Metallic Mining 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. Non-Metallic Mining Food, Beverage & Tobacco Mfg. Textiles, Wearing Apparel, Leather & Footwear Wood, Cork & Cane Products Paper, Publishing & Printing Chemical & Chemical Products/Petroleum Products Non-Metallic Mineral Products Basic Metals Fabricated Metal Products Miscellaneous Manufactures Construction Electricity & Gas Water Services

6.783 6.623 1.827 17.559 15.996

3.971
0.852 3.723 0.888 2.639 14.509 10.250 1.886 9.282

Services Other Than Tourism-Oriented 20. 21. 24. 25. 27. 28. 29. 30. 31. 32. 33. 34. 36. 39. 19. 22. 23. 26. 35. 37. 38. Other Land Transport & Services Water Transport Services Storage & Services Communication Other Trade Financial Services Insurance Real Estate Ownership of Dwelling Government Services Private Education & Health Services Business Services Personal & Household Services Sanitary, Social & Related Community Services Services 9.110 1.440 12.620 16.400 13.702 11.242 5.180 13.030 Tourist Bus/Car Services Air Transport Service Tour & Travel Agencies Tourist Shops Recreational & Cultural Services Restaurants etc. Hotels & Other Lodging Place 14.670

9.280
13.920 6.204 17.170 4.184 5.261 1.335 0.000 11.244 39.103 13.175 64.242 25.392

Tourism-Oriented

All Sectors

47
A. B. c. D.

Table 6.13

Impact

of foreign tourist expenditures on employment, (Numbers are in thousands of persons)


Direct

1988

Total 1

Indirect

221.7 4.5 28.0 11.9 0.4 0.3 6.9 88.6 50.9 1.5 1.7 0.3 0.0 0.6 5.9 0.4 1.5 0.5 2.6 1.7

2
3 4 5
6

0.0 0.0 0.0 0.0


0.0 0.0

0 00 0 00 0 00 0 00 0 00

221.7
4.5 28.0 11.9 0.4 0.3

o.00
O.00 15.37
10.24
00 O. 05 O.

7
8

0.0
57.3 38.2

6.9
31.3 12.7 1.5 1.5

9 10 11 13 14 15 16
18 19 20 21

0.0 0.2 0.0 0.0 0.1 5.8 0.0


0.0

O. 00 O. 00 03 O. 1.56
00 O. O. 00 O. 00 67 O. O. 00

0.3 0.0
0.5 0.1 0.4 1.5 0.5 0.1

0.0 2.5 0.0


1.7

1.7
0.5 0.1 0.1 0.9

2.2
0.6 1.6 0.9 4.9 17.3 45.6 1.5 0.6 0.2 0.0 0.2 18.3

22
23 24

0.5
1.5

25 26

0.0 3.8
17.3

O. 46 O. 13 O. 40 00 O. 1.02 4.64 O. 00 00 O.

1.1
0.0 45.6 1.5 0.6 0.2 0.0 0.2

27
29
30

0.0 0.0
0.0

o.00
O. 00
00 O. O. 00

0.0 0.0 0.0


17.7

31 33 34 35 36 37
38 39 Total

4. 75

3.3
63.0 44.6 75.9 45.1 0.7 756.4 100.00

0.0
62.8 43.6 75.0

O. 00 16.84
11 69 20 11
12 04 0 00 100 00

0.6 3.3
0.2 1.0

0.9
0.2 0.7 383.5 100.00

44.9 0.0
372.9

48

Table 6.14 shows that the computed indirect tax multiplier was the highest for exports other than tourism with 7.1 centavos per peso of export demand. Tourism ranked next with 6.2 centavos per peso of tourist demand. The largest contributor of indirect taxes due to tourism is the hotel sector with P453 million, followed by the chemicals industry with an indirect effect of P339 million and restaurants with P175 million. Table 6.14 Sectoral Impact of final demand on net indirect (Values are in million pesos)
Consumption
Investment

taxes,

1988

Sector

Non-tourism
export

Tourism exports

Total

Value
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Crops Fishery Forestry Metallic Mining Mining & Tobacco Apparel Mfg. Non-Metallic Textiles, & Agricultural & Poultry Services Livestock

Value 252
106 14

% 6.74
9.88 0.99

Value 432 68 221 573 1,663 15 876


206

% 11.55 6.34 15.56 28.41 75.25 23.44 8.84


27.69

Value
101 14 31 147 7 1 140 84

% 2,.70

Value
3,740 1,073 1,420 2,017 2,210 64 9,908

%
100,00 100.00 100,00 100.00 100,00 100.00 100.00

Food, Beverage Wearing Leather Including Chemical

2,955 885 1,154 819 171 17 8,636 436


53

79.01 82.48 81.27 40.60 7.74 26.56 87.16 58.60


15.54

1.: 30
2. 18

478 369 31 256 18 93 23 1,376 130 83 337


15

23.70 16.70 48.44 2.58

7.: 29
0,:32 1.1 56
1.'41 11.29 12.32 2.16

& Footware Furniture & Printing Products/ Products

2.42
27.27 7.10 7.28 56.77 32.42 31.55
12.71

744 100.00
341 100.00

Wood, Cork & Cane Products Paper, Publishing Petroleum Non-Metallic Basic Metals Fabricated Metal Product, Transport Equipt. Manufactures

212 12,626 68 29

65.43 66.76 29.69 11.33

153 82 4,571 30 143 485


37

44.87 25.31 24.17 13.10 55.86 45.41


31.36

42
7 339
1

324 100.00

& Chemical Products Mineral

1
4 6 1 0 0

1.79 18,912 100.00 0.44 229 100.00 0.39 256 100.00 0.37 5.08 0.05 0.00 0.00
1,068 118 2,102 100. 00 100. 00

Machinery, Miscellaneous Construction Electricity

242 22.66
60 143 0 50.85 6.80 0.00

,900
0 0 0 120

90.39
0.00 0.00 0.00 7.00

58
0 0 0 410 131

2.76
0.00 0.00 0.00 23.91 50.38

100.00

& Gas Services Services Services

Water Services Tourist Bus/Car Water Transport Other Land Transport Air Transport Storage Services Related

0
16 180 99 681 18

0.00
66.67 68.80 38.08 49.89 75.00

0 0
24 260 1,365

o.00
O.00 100. 00 100. 00 100. 0000

8
5
6

33.33
0.29
2.31

1,715 100. 00

24 18
0 21

9.23 1.32
0.00

621
0 128 167 0

45.49
0.00 51.00 51.38 0.00

Tour & Travel Agencies & Services to Transport Communication Tourist Shops Other Trade Financial Insurance Real Estage Ownership Government Private Business Personal of Dwellings Services & Health Services Service Services Places Services

45 6 2 25 24 71 23 7 5 0 0
4

3.30 25.00

24 100.
251 325 48 4,245 1,898 574 100.00 100.00 100.00 100.00 100.00 100.00

100
128

39.84
39.38

24 2,805 808
394 516 0 0

50.00 66.08 42.57


68.64 80.25 0.00 0.00

5 0

8.37 1.54

o.
7. 50. 1. 1. 1.

237 75
14 4
0

0.00 5.58 3.95


2.44 0.62 0.00 0.00 0.00 3.18 0.00 0.00

132 992 159 118


0 0 2 224

26.67 52.27 27.70 18.35


0.00 0.00 1.05 64.74

Education Services

Recreational Restaurants

& Cultural

& Household

184 105 46 13
275 71 46 36,015 624,995

96.84 30.35 38.02 72.22


50.55 13.03 63.01 62.38

Hotels & Other Lodging Sanitary, Social Community Total Final demand Services

0 0 11 0 0 2 2
1 6,015 111,460

O.78 643 100.00 O.0000 0 0.00 O. 0 0.00 2.11734556 190 100.00

0.37 0.37
1.37 10.42

20 4 92 19
26 13,858

16.53 22.22 16.91 3.49


35.62 24.00

6 55 1 175 453
0 1,847 29,943

1.
45.

346 121 544 545

100.00 100.00 100.00 100.00 100,00

5. 32.17 83.12
0.00 3.20

18 100.00

& Related

57,735 962,886

100.00

196,488

Multiplier

0.0580.054

0.071

0.062

0.060

49

r3 6900672122 80

Table 6.15 shows that, of the total indirect tax effect of P1,847 million generated as a result of international tourist spending, some P904 million was derived directly and P943 million indirectly. The restaurants and hotel sector accounted for the bulk of the government income with a combined tax effect of P624 million or 69.0 percent. Again, the indirect effects were accounted for by the non-tourism-related sectors of chemicals (sector 11) with P308 million or 32.7 percent of the total indirect effect, followed by forestry (sector 4), food, beverage and tobacco (sector 7) and agricultural crops (sector 1) with indirect tax contributions of P147 million, P140 million and P101 million, respectively.

6.6.5

Impact on import costs

Table 6.16 shows the distribution of imported inputs required in the production of goods to sustain the various components of final demand. In 1988, total importations reached P159.9 billion worth of goods and services consumed by the production sectors and the remaining P55.4 million was directly imported for final consumption and investment.

Table 6.15

Impact

of foreign tourist expenditures on indirect (Values are in million pesos)


Direct 0.00 0.00 0.00 0.00 0.00 0.00 0.00

taxes,

1988

Total 0 0 0 0 0 0 0
54 31

Indirect 10.71 1.48 3.29 15.59 0.74 0.11 14.85 3.18 1.17 0.74 32.66
0.11

2 3 4 5 6 7 8 9
10

101 14 31 147 7 1 140 84 42 7


339

101 14 31 147 7
1

5.97
3.43 0.00 3.43 0.00 0.00 0.11 0.66 0.00 0.00 0.00 0.88 0.00 0.44 3.98 0.55 0.00 2.21 2.65 0.00 0.00 0.00 0.00 0.00 0.00 0.44 0.00 6.08 0.11 19.14 49.89 0.00 100,00

140 30
11

0
31 0

7 308 1
3

11
12 13 14 15

1 1 4 6 1 0 0 8 5 6 45

0 1 6 0 0 0 8 0

0 1 0 0 0 5 2 9 1 2 5 07123

0.11 0.32 0.00 0.11 0.00 0.00 0.00 0.53 0.21 0.95 0.11 0.21 0.53 0.00 7.53 2.44 0.74 0.53 0.00 0.00 0.00 0.64 0.00 0.00 0.21 0.21 0.00 100.00

16
17 18 19 20 21 22 23

4
36 5 0
20

24
25 26 27 28 29 30 31 32 33 34 35 36 37 38 39

6 2
25 24 71 23 7 5 0 0 4 6 55 1 175 453 0 ,847 100.00

24
0
0

0 0 0 0 4

7 5 0 0 0 6 0 0 2 2
0

55
1
173 451

0
904

Total

943

50

Table 6.16 Sectoral

Impact of final demand on Import (Values are in million pesos)


Consumption Investment Value
296

costs,

1988

Sector

Value
1 2 3 4 5 6 7 8 Crops & Agricultural Livestock Fishery Forestry Metallic Mining Mining & Tobacco Apparel Mfg. & Poultry Services

% 79.00 82.47 81.24 40.56 7.73 26.50 87.16 58.66 15.56 65.39 66.76 29.75
11.46

Non-tourism export Value % 507 124 125 101 2,228 116 1,120 4,135 462
746

exports

Value
119 26 18

% 2. 1.: 2.: 7.:32 0.: 303341 0.1


1..

3,469 1,614 654 144

6.74
9.86 0.99 23.66 16.72 48.65 2.58 2.36

11.55 6.34 15.53 28.45 75.24

193 8 84 495 235 327

26 9 4
179

229
128 11,042 8,743 160
& Printing Products! 37,177 Products

Non-Metallic

24.02
8.84

Food, Beverage Textiles, Leather Wearing

& Footware

352
280
204

27.74
44.94 25.46 24.17 13.10

1,675 126
64

11.24 12.26 2.18 1.79 0.59 0.32 O.

Wood, Cork & Cane Products Including Furniture

27.24
6.96

10 11

Paper, Publishing Chemical Petroleum

1,916

& Chemical Products Mineral

12 13 14

Non-Metallic Basic Metals Fabricated Machinery,

352
1,035

4,052 669 2,930


8,184

7.28
56.55 32.45 31.56 12.86 90.39 4.09 1.43 0.00 6.98 9.23 1.32 0.00

13,460 155 5,034 11,777 517

997

7 29 107 89

55.76
45.41 31.37

Metal Product, Transport Equipt.

15 16 17 18 19 20 21 22 23 24

Miscellaneous Construction Electricity

Manufactures

5,865 830 577 1,553 126 46 1,055


124

22.62 50.36 6.78 70.59 90.00 66.67 68.86 38.15 49.92 66.67 39.62 39.54

212 7,698 90 2 107 30


26

5. 40
D5 0.1
36 2.:

237
505 9 366
164 896

2.78
22.95 6.43 0.00 23.89 50.46 45.51 0.00

4
52 3 23 4 7 64
1

& Gas

Water Services Tourist Bus!Car Services Services

Other Land Transport Water Transport

Services

2. 1433 33. 26 O. 2. 15 3. 25 33. 33


1.

Air Transport

Services

983 2
21 342

Tour & Travel :Agencies Storage & Services Related

to Transport 25 26 27 28 Communication Tourist Shops Other Trade Financial Services

7.55 1.39 0.00 5.61 3.83 3.57 1.05 0.00 0.18 3.23 0.00 0.10 0.40 0.50 0.00

27

50.

1 67 2 12 3

12

444 200
109 8
17

2
495

50.00
66.09 42.58 67.86

42
8 1 1

51.33 o.00 26.70


52. 1557 28.

7.75
50. 00
1. 60 1. 44

89
19

29
30 31 32 33 34 35 36

Insurance
Real Estate Ownership Government Private Business of Dwellings Services & Health Service

00 O.
1.05

76 2,636
1,100

80.00
99.1 62

17.89 o. 34 O.18
64 .67 16 .34 21 .29 16 93 3. 50

1 24 19 257 31 161 166

O.04
2. 13

Education Services

523501486000 2 97.1
30.' 38. 75. 1 35

2 701 92 211 85 7

329
Service Services 214

1 .75

Recreational Personal

& Cultural

45.65.13
3 3283. .07 00

& Household

748 254 26 19
84,194 624,995 0.135

37
38 39

Restaurants
Hotels & Other Lodging Social Places Sanitary, & Related

50.
13.' 63.33
52.67 64.91

2
1

Community

Services

36.67 44,707 27.97 4,378 29,943 0.146

0.00 2.74
3.11

Total Final demand Multiplier

26,583 111,460

16.63

0.239

11.58196,488 0.228

51

Tourism 11 713324 41 94 89

To obtain the estimates

of total import requirements,

the following formula was used:

"
M
where

M.X

=
/\

vector of sectoral import requirements diagonal matrix of sectoral Table 2; and imported

to sustain final demand; input coefficients derived from Appendix

=
=

vector of total output requirements.

It can be observed that more than half (52.7 percent) of total imported inputs consumed in production was induced by final demand for consumption goods, followed by exports goods with a share of 28.0 percent. For tourism goods and services, the economy required imported inputs amounting to P4.4 billion or 2.7 percent of total imports. Import multiplier was the highest for investment goods at 0.239, implying that these goods have high import contents. Consumption goods recorded the lowest import multiplier of 0.135, followed by tourism goods with 0.146. These are arrived at by dividing total import requirements for each final demand component by corresponding final demand levels. Given these import multipliers, it is also possible to estimate It is therefore estimated that, for exports other than computed at 77.2 cents for every dollar exports receipt, while for per dollar tourist receipt. Comparatively, therefore, tourism would exchange earnings than other exports. the net foreign exchange earnings ofexports. tourism, the net foreign earnings is tourism it is calculated at 85.4 cents appear to generate more net foreign

Table 6.17 shows the total import requirements by industries needed to produce the total output of P50,676 million worth of goods and services in order to satisfy tourist demand of P29,943 million in 1988. It can be observed that a total of P4,378 million worth of imports were needed broken down into P2,150 million worth of goods and services directly consumed by the tourism and non-tourism sectors and P2,228 million worth as indirec1.

52

Table 6.17 Impact of foreign tourist expenditures


(Values are in million pesos)
Total Sector
1

on import costs, 1988

Indirect Value percent Value 119 26 18 26 9 4 179 592


32 64 906

Value
119 26 18

2.72
0.59 0.41 0.59 0.21 0.09 4.09 38.26 2.88 1.46 22.77 0.16 0.66 2.44 2.03 0.09 1.19 0.07 0.53 0.09 0.16 1.46 0.02 0.02 1.53 0.05

0 0 0 0 0 0 0
1,083 94

2 3 4 5 6 7 8
9

26 9 4
179

1,675
126 64 997

10 11 12 13 14 15 16 17 18 19
20

0 91 0 0 26 87 0 0 0 22
0

7
29 107

7 29 81 2 4 52 3
1

89 4
52

3
23

4 7
64

21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Total

6 51 0 0 52 2 0 0 0 0
0 0 3

1 1
67

015 012

2
12

0.27
0.07 0.00 0.02 0.00 0.02 0.55 0.43 5.87
0.71

3 0 1
0

1
24 19 257 31 161 166

23
0

256
31

1 0 2 0 0 100.00 100,00

3.68 3.79 0.00 100.00

159 166 0
2,150

0 4,378

53

Direct percent 13 19 2,228

AND RECOMMENDATIONS
As acknowledged by all other countries, the measurement of the contribution of tourism to the economy is difficult because of the unique nature of this industry. While other industries can be easily defined for official statistical purposes by simply measuring the commodities which they produce and their size and perlormance can be measured through a direct survey, this cannot apply to the case of the tourism industry. The main difficulty in defining fact that it caters to a wide variety Because most firms in the industry of their customers are tourists, the the tourism industry and measuring its economic impact lies in the of consumers, a very amorphous market, who happen to be tourists. do not have a clear and reliable basis in establishing what proportion direct measurement of the industry is practically impossible.

While sampling through surveys can be resorted to and the result obtained therefrom can be used as basis for proportionate distribution and interpolation of levels and patterns of expenditures, this procedure will likely produce unreliable results with a large margin of error. These limitations were recognized from the start when the series of studies on tourism industrywere conducted. The NSCB tried its best to fit in the Input-Output Table. Somehow, despite best efforts and good intentions, there are inherent flaws and deficiencies in the information system which characterize practically every sector in the economy. Part of this stems from the recognition that a very large underground economic sector exists in the Philippines, the business transactions of which are difficult to capture and measure. Moreover, even in areas that are covered by the formal market, data are still difficult to generate because of lax and weak enforcement of laws and other rules and regulations, faced with this dilemma, the authorities charged with preparing the National Accounts do not have much choice expect to devise methods that inevitably have built-in flaws. One glaring example is the measurement of tourism receipts. The Central Bank data on the invisible receipts of the Balance of Payments statement placed tourism receipts at only P9.0 billion in contrast to the P29.74 billion using the DOT component method. We can only conclude that the wide discrepancy in the two data bases reflects the sizeable portion of leakages that go to the blackmarket. This same problem bugs the successful measurement of the manpower export programme in which banking institutions capture barely less than one-third of actual foreign exchange remittances. Clearly, this points to the necessity of revising some financial rules and regulations to allow the establishment of more government authorized money changers. Corollarily, authorities should review the incentive scheme for such money changers to make their operations more effective. In the final analysis, however, the stability of the foreign exchange rate of the peso will be the most influential factor that will affect the preferences of tourists to patronize the services either of the legitimate money changers or the informal market. Tourism receipts have grown dramatically from only P4.6 billion in 1980 or 1.9 percent of GDP to P29.9 billion in 1988 or 3.7 percent of GDP. Between 1987 to 1988, tourism growth rate was 26.6 percent. While growth is a positive development, several aspects concerning it must be looked into. First, the issue of how this growth is related to equity should be considered. National statistics indicating growth may not be that meaningful if the benefits do not accrue more equitably to the people, or to the various regions of the country. Future tourism growth objectives, therefore, should also generate sectoral and regional growth and income. Moreover, sectoral tourism data should be generated in order to show more clearly tourism's contribution to growth and equity for a balanced sectoral distribution of its benefits.

54

CONCLUSION 7.

Another issue is that of net foreign exchange earnings from tourism receipts. While inward tourism receipts totalled P29.9 billion, outward tourism expenditures (travel expenses by Filipino tourists going abroad) in the same year amounted to P26.3 billion. Likewise, based on the tourism imports multiplier of 0.146, only 85.4 centavos out of every peso of tourism receipts may be considered as net foreign exchange earnings. Clearly, this calls for restraint on outbound tourism expenses given the scarce foreign exchange resources of the country. Similarly, efforts should be exerted to lessen the import content of tourism thereby increasing net foreign exchange benefits. Local products should be promoted more aggressively to the foreign tourists. Product development efforts should be intensified to improve the quality of domestic souvenir items and thus make them more saleable to the foreigntourists.

In making an economic analysis of tourism, both benefits and costs should ideally be considered. This study has focused more on the benefit side because of lack of reliable data in quantifying the social costs of tourism. Let it be understood that while tourism may generate income and employment, it inevitably also has some negative effects especially on the environment and the moral values of society. If such factors could be given due weight and quantified accordingly, then the economic benefits that we have computed in this study would change drastically. Clearly, further research should be done alongthis line in order to generate data and develop a methodology for incorporating also the social costs oftourism, as is usually done in determining the economic rates of return of projects. The P1.85 billion indirect tax contribution of tourism represents only 3.2 percent of total government indirect tax revenues. The tax multiplier effect of tourism should be enhanced by encouraging greater expenditures by tourists on these sectors. Another alternative to maximize revenues would be for the authorities to consider increasing the tax rates associated with these products and services. However, the private sector feels that the present tax measures implemented by the government is on the upper limit. Therefore, a more feasible alternative to increase revenues would be for the authorities to insure the implementation of efficient and effective tax collection schemes. Tourism's low forward linkage but high backward linkage indicates the direction that may be pursued in terms of investment, especially by the private sector. Tourism should induce investment opportunities in those sectors that utilize their products. The industries with which tourism has high backward linkages particularly should be closely examined and efforts should be directed towards increasing the output and consumption in said industries.

Many of the support services for tourism are still provided free of charge or at nominal cost by government authorities, such as in communication and other promotional activities. This results in not reflecting the full cost of such services thereby tending to overstate the economic benefits of the sector. It is about time that this practice be reviewed and modified to come up with a more realistic estimate of tourism benefits. Moreover, the authorities should pursue privatization programmes for tourism morevigorously The transfer to the private sector of many hotels and other tourism related business establishments that were either foreclosed or sequestered should be apriority. Once privatized, the costs of providing such services would be more reflective of true market conditions. It follows that new hotels and other tourist facilities that are being put up by private business establishments would adopt the same principle. Nevertheless, this privatization scheme should be reinforced by promoting a strong partnership between the government and the local private sector through institutionalized consultations and the implementation of synchronized promotional and development projects for the industry.

55

APPENDIX

120

59

EXECUTIVE 1 NO. ORDER

OFFICE

OF THE

PRESIDENT

OF THE PHiliPPINES

MALACANANG EXECUTIVE REORGANIZING ORDER NO. 120 AND

THE MINISTRY OF TOURISM, DEFINING ITS POWERS FUNCTIONS, AND FOR OTHER PURPOSES
is mandated expressly

RECALLING that the reorganization of the government (a), and Article III of the Freedom Constitution;

in Article II, Section1

HAVING IN MIND the pursuant to Executive Order No.5 (1986), it is directed that necessary and proper changes in the organizational and functional structures of the government, its agencies and instrumentalities be effected in order to promote efficiency and effectiveness in the delivery of public services; CONSIDERING that tourism is an international industry that has played a significant role in boosting the economies of many nations and in fostering goodwill between nations and peoples of the world; TAKING achievements

NOTE that, in order to realize its full tourist potential in the magnitude suggested by the of other countries which have been developed by private enterprise as well as bygovernment, the Philippines needs:

A government ministry that will: (a) (b) (c)


Assist in coordinating tourism matters; the plans and actions of various government instrumentalities on

Discharge the government's responsibilities commitments on tourism and travel;

arising from treaties,

agreements

and other

Provide such other public sector services to the tourism industry as well as the formulation of standards and the compilation of statistics on tourism matters;

NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, by virtue of the powers vested in me by the sovereign will of the Filipino People and the Freedom Constitution, do hereby order: 1 SEC. 2. Title. This Order shall be known as the Reorganization Act of the Ministry of Tourism.

Reorganization. The Ministry of Tourism, hereinafter referred to as Ministry, is herebyreorganized, structurally and functionally, in accordance with the provisions of this Executive Order.

61

SEC.

SEC. 3. Declaration of Policy. It is hereby declared the policy of the state to promote, encourage and develop Philippine tourism as a major national activity in which private sector investment, effort and initiative are fostered and supported, and through which socio-economic development may beaccelerat foreign exchange earned, international visitors offered the opportunity to travel to the Philippines and appreciate its natural beauty, history and culture, and Filipinos themselves enabled to see more of their country and imbued with greater pride in and commitment to the nation. SEC. 4. Mandate. The Ministry shall be the primary government agency charged with the responsibility to encourage, promote and develop tourism as a major socio-economic activity to generate foreign currency and employment and to spread the benefits of tourism to a wider segment of the population with the support, assistance and cooperation of both the private and public sector, and to assure the safe, convenient, enjoyable stay and travel of the foreign and local tourists in the country. 5. Powers and Functions. The Ministry shall have the following powers and functions:

the President on the promulgation of laws relative to the policy, plans, programmes and projects designed to promote and develop the tourism industry; Formulate policies, plans, programmes and projects both domestic and international; for the development of the tourismindustry,

(c) (d)
(e)

Devise an integrated marketing programme designed to attract and induce people abroad to visit the Philippines and enhance the prestige of the Filipino people and the Republic; Promote and ensure the pleasant and hospitable entry, stay and egress of tourists; Coordinate with any or all government agencies, civil or military, in the implementation of this Executive Order, the Ministry's rules and regulations, other issuances, and enforcement of its order and/or decisions; Formulate standards for tourism-oriented establishments that will prescribe minimum levels of operating quality and efficiency in order to ensure that facilities, personnel and services are maintained in accordance with acceptable local and international norms in the operations of tourism-oriented establishments; of all persons,firms, standards for purposes, and agencies; including tourism-

(f)

(g)

Promulgate rules and regulations governing the operations and activities entities and establishments that cater to tourists, to provide accreditation of hotels. resorts, and tourist-oriented facilities for classification to prescribe rules and regulations governing the issuance of licenses to travel

(h) (i) (j) (k)

Approve the construction standards of accredited tourism-oriented establishments hotels, resorts, inns, motels, and other related facilities and services; Prescribe information reporting on the purchase, sale or lease of accredited

oriented facilities; Ensure a harmonious, positive and constructive development of the tourism industry;

To provide technical assistance to the Committee on Privatization and Asset PrivatizationTrust, or such other government agency, office or institution as are charged with the duty and/or responsibility of selling government-owned or controlled hotels, resorts and other tourist-oriented facilities; Promote the Philippines as a locale for foreign film or movie production or any other form of entertainment that will serve to enhance the image of the Philippines as a tourist destination internationally; Represent the government in all such conferences and meetings concerning tourism and travel and discharge such responsibilities of the government as may arise from treaties, agreements and other commitments on tourist and travel to which it is signatory;

(I)

(m)

62

SEC. Advise (a) (b)

(n)
(0)

Prescribe

programmes to encourage and projects;Compile

private-sector

investment

and participation

in tourismactivities

and integrate statistical data bank on the tourism industry; Promote the protection, maintenance and preservation of historical, cultural and naturalassets with tourist attractions with the appropriate government agencies or with the privatesector or with the owners of said assets or attractions; Undertake research studies and surveys for the continuing trends relating to tourism and travel; analysis of economic conditionsand

(p)

(q) r)

Set up and organize foreign field offices for the purpose of overseeing promotional activities and implementing programmes of the Ministry;

all marketing

and

In order to project properly and enhance the Filipino image in the entertainment field and thereby gain better international respect and reputation for the country, assist the appropriate government agency in auditioning Filipino entertainers being sent abroad;

(t)
(u) (v)

Evaluate incentives to tourist-oriented recommendations to the President; Delegate

facilities,

and

submit

its

appropriate

in writing any specific powers and functions

in favour of the regional offices;

Upon petition of the Minister of Tourism, the police district superintendent or station commander concerned shall deputize the personnel of the Tourist Assistance Unit of the Ministry for the purpose of enabling them to assist in the enforcement of all laws and regulations for the protection of tourists and other transients; Exercise such powers and functions and other activities incidental to the attainment of its mandate; Arrange, adjoining that may be necessary, proper, or

(w)

(x)

whenever deemed appropriate, for the reclamation of any land adjacent a tourist zone in coordination with appropriate government agencies;

to or

Coordinate with appropriate government agencies the development of infrastructure requirements supporting a tourist zone, such as but not limited to, access roads to the zone, electric power brought to the proper line of the zone, airports, harbors, and other support

facilities;
(z) Coordinate with concerned government agencies the provision of social infrastructure requirements supporting a tourist zone as educational facilities, health centers, social and recreational outlets and other necessary amenities for the social upliftment of the populace and preservation of ecological balance.

SEC. 6. Minister of Tourism. The authority and responsibility for the exercise of the mandate of the Ministry and for the discharge of its powers and functions shall be vested in the Minister of Tourism, hereinafter referred to as Minister, who shall have supervision and control of the Ministry and shall be appointed by the President. SEC. 7. Office immediate staff. of the Minister. The Office of the Minister shall consist of the Minister and his

SEC. 8. Deputy Ministers. The Minister shall be assisted by four (4) Deputy Ministers by the President upon the recommendation of the Minister, namely:

appointed

Deputy Minister for Planning, Product Development and Coordination, who shall be responsible for the Office of Tourism Development Planning, Office of Product Development, and Office of Tourism Coordination: Deputy Minister for Tourism Services and Regional Offices, who shall be responsible of Tourism Standards and all Regional Offices; for theOffice

63

( (s) (y) (a) (b)

(c),

Deputy Minister for Tourism Promotion, who shall be responsible for the Bureau International Tourism Promotion, Bureau of Domestic Tourism Promotions, and Office Tourism Information; Deputy Minister for Internal Services, who shall be responsible Management Service, Administrative Service, and Legal Service. for the Financial

of of

(d)

and

SEC. 9. Ministry Proper. The Ministry Proper shall consist of the Offices of the Minister and Deputy Ministers and shall be responsible for the preparation and development of the policies, plansprogramm and projects of the Ministry in the context of its mandate, powers and functions.

SEC. 10. Structural Organization. The Ministry, aside from the Ministry Proper, shall consist of itsService Bureaus, Offices, Regional Offices and Foreign Field Offices. .
SEC. 11. Financial and Management Service. The Financial and Management Service is hereby created and shall provide the Ministry with staff advice and assistance on budgetary, financial, and management matters and shall perform such other related functions as may be assigned or delegated to it by the Minister. SEC. 12. Administrative Service. The Administrative Office is hereby created and shall providethe Ministry with staff advice and assistance on personnel, information, records, communications,supplies, equipment, collection, disbursements, security, other custodial work and such other related duties and responsibilities as may be assigned or delegated to it by the Minister. SEC. 13. Legal Service. The Legal Service is hereby created and shall provide the Ministry with staff advice and assistance on all legal matters affecting the Ministry, and to perform such other related functions as may be assigned or delegated to it by the Minister. SEC. essentially 14. Service Character and Head. The services under sections 11 to 13 hereof shall be staff in character, each of which shall be headed by a Service Chief. Tourism Promotions and Information. The Bureau of Domestic is hereby created and shall have the following functions: and publicity; throughout the

SEC. 15. Bureau of Domestic Tourism Promotions and Information

Organize and coordinate programmes of public relations, promotions, encourage domestic tourism and encourage overseas visitors to travel Philippines;

(b)

Design and provide support for dissemination of materials for publicity as tourist attractions in the Philippines; promote educational and cultural tours to increase travel within the country;

(c) (d) (e)

organize,

and provide support for tourist councils;

Plan promotional campaigns through advertising and publicity and coordinate promotional efforts with the private sector through sales campaigns and information dissemination; Organize special events for the promotion of local destinations. of International Tourism

SEC. 16. Bureau of International Tourism Promotions. The Bureau Promotions is hereby created and shall have the following functions:

Promote the Philippines as a locale tor foreign film or movie production or any other form of entertainment that will serve to enhance the image of the Philippines as a tourist destination internationally;

(b)
(c)

Provide support for the private sector in its promotional Organize

campaigns;

special events to promote the country as a tourist destinations;

64

Promote, (a)

(d)

market intelligence Field Offices; Disseminate

and research information

on tourist markets through the Foreign

current information

on the country and its tourist products;

(1)

Generate

favourable

publicity on the Philippines; in international in international tourism through the Foreign Field Offices; meetings, conferences and conventions on

Monitor trends and developments (h) Organize, tourism; set up and participate

Supervise foreign field offices charged with coordinating promotional activities and programmes of the Ministry.

and assisting

in the marketing

and

SEC. 17. Bureau Character and Head. The Bureaus under Sections 15 and 16 hereof shall be essentially staff in character each of which shall be headed by a Staff Director. SEC. 18. Office of Tourism Information. and shall have the following functions: Promote travelling a continuing public; and programmes of the wholesome The Office of Tourism Information is hereby created

and informative

relationship

between the Ministry

and the

(b) (c)

the widest publicity of existing and for1hcoming activities Ministry through a functional relationship with the media;Organize and disseminate centers. of Tourism promotional and tourist information

materials

to various

tourist

assistance SEC. 19. Office

Standards.shall The Office of Tourism

Standards

is hereby created

and

have the following functions:


(a) Approve

the construction standards of tourism-oriented establishments including hotels,resorts, inns, motels, and other related facilities and services; prescribe information reporting on purchase, sale or lease of accredited tourism-oriented facilities and, ensure aharmoniou positive and constructive development of the tourism industry; Formulate operating standards for tourism-oriented establishments including hotels andresorts, restaurants, inns, motels, and other related facilities and services that will prescribe minimum levels of operating quality and efficiency in order to ensure that facilities, personnel and services are maintained in accordance with acceptable local and international norms in the operations of tourism-oriented establishments;

(c) (d)
(e)

Regulate and issue licenses to qualified regulations promulgated by the Minister; Encourage formation

travel agencies

in accordance

with the rules and

of industry associations

for accreditations

by the Ministry;

Assist in auditioning Filipino entertainers in order to project properly and enhance the Filipino image in the entertainment field and thereby gain better international respect and reputation;

(1)

with all agencies by the Ministry.

concerned

on the

enforcement

of rules

and

regulationspromulgated

SEC. 20. Office of Tourism Development Planning. Planning is hereby created and shall have the following functions:

The Office

of Tourism

Development

Formulate plans and policies for the development of the tourism industry, including but not limited to national tourism plans and the identification of master physical plans for touristzones within the country;

65

Gather (i) Cause (b) Coordinate (a)

(b) (c) (d)


(e)

Monitor and evaluate plans, effective implementation;

programmes

and projects

of the

Ministry

to ensure

their

Conduct research studies and surveys for the continuing Compile and integrate statistical

analysis of the tourism industry;

data on the tourism industry and publish the same;

Coordinate and assist in the implementation of tourism-related projects, plans or operations of local governments, governmental agencies, public corporations, and where clearly necessary and feasible, those of private entities so as to make possible the accelerated and balanced growth and development of tourism in the Philippines which is responsive to the needs of targetted travel markets, domestic and foreign, and beneficial to a greater number of Filipino communities; Analyze specific geographic areas with potential tourism value leading to the preparation of a national tourism development plan which will establish the order of priority for the development plan of tourist zones; Formulate a government plan for each zone in coordination with other government agencies and local government(s) exercising political jurisdiction over the area, provided, that the plan of the zone to be developed shall cover specifically those aspects pertaining to tourism; provided further, that the tourism development plan is fully coordinated and integrated with other sectoral plans for the area;

(h)

Zone Administration

and Control

Coordinate with appropriate .Iocal governments and other government agencies, to assist in formulating and implementing zone regulations, including building codes, hotels standards and such other restrictions as may be necessary within a tourist zone to control its orderly development; preserve such historical, cultural and/or natural assets or relics giving the zone its tourist value and significance; and assure adherence to approved zone development plans;

Ensure through proper coordination with appropriate government agencies and local private agencies the social growth of the community within a tourist zone as well; carefully control possible negative social impact brought about by tourism development. SEC. 21. Office of Product Development. and shall have the following functions: The Office of Product Development is hereby created

(a) (b) (c)

Develop and conceptualize and facilities;

new products which can lead to the enhancement

of tourist sites

Undertake pilot tests for testing products and programmes;

the viability

and acceptability

of new tourism-related

Encourage and promote joint undertakings products and programmes. Office of Tourism Coordination.

with the private

sector

of new tourism-related

SEC. 22.

The Office of Tourism Coordination

is hereby created

and shall have the following functions: (a)


Initiate and coordinate with all sectors, both government national tourism plans and policies; Coordinate priority activities and the private sector; Provide support assistance. and projects and private, the development of the

of the Ministry,

and other government

agencies,

to all tourism-related

activities

of the private

sector

needing

government

66

(9) (1) (b) (c)

SEC. 23. Office Character and Head. The Offices under Sections 18 to 22 hereof shall be essentially staff in character, each of which shall be headed by a Staff Director. SEC. 24. Regional Office. The Ministry is hereby authorized to establish, operate and maintain a Regional Office in each of the administrative regions of the country, under the immediate supervision of the Deputy Minister for Tourism Services and Regional Offices. A Regional Office shall be headed by a Regional Director and shall, within its administrative region, have the following functions: (a) (b) (c) (d) (e) Implement laws, policies, plans, programmes, Provide economical, Coordinate Coordinate rules and regulations of the Ministry;

efficient and effective service to the people; bureaus and agencies;

with regional offices of other ministries, with local governme~t units;

Perform such other functions

as may be provided by law.

SEC. 25. Foreign Field Offices. Subject to the approval of the President the Ministry shall have foreign offices as may be necessary in the marketing and promotion of the Philippines as an international tourist destination, which shall oversee and implement the Ministry's marketing and promotional programmes. 26. Abolished/Transferred Agencies. Compliance with the following is hereby prescribed:

(a)

The Bureau of Tourism Services is hereby abolished and its functions are transferred to the Office of Tourism Standards and Regional offices in accordance with Section 28 (a) and (b) hereof;

(b)

The Bureau of Tourism Promotions is hereby abolished and its functions are transferred, may be appropriate, to the Bureau of Domestic Tourism Promotions and Bureau International Tourism Promotions in accordance with Section 28 (a) and (b) hereof; The Civil Aeronautics Board by the nature of its responsibilities Ministry of Transportation and Communications in accordance hereof;

as of

(c)

is hereby transferred to the with Section 28 (a) and (b)

(d)

The Intramuros Administration and the National Parks Development Committee (E.O. Nov. 30, 1963) are hereby transferred to the Ministry in accordance with Section 28 (a) and (b) hereof.

SEC. 27. Attached Agencies. The Philippine Tourism Authority and the Philippine Convention Bureau shall thereby be attached to the Ministry. Due to their operation and control over tourist parks and attractions, the Intramuros Administration, and the National Parks Development Committee are hereby attached to the Ministry. SEC. 28.

Transitory Provisions

(a)

The transfer of functions under Section 26 (a) and (b) hereof shall include such appropriations, funds, records, equipment, facilities, other assets and personnel as may be necessary to the proper discharge of such functions. The remaining appropriations and funds shall revert to the General Fund and the remaining records equipment, facilities and other assets shall be allocated to such appropriate units as the Minister shall determine or shall otherwise be disposed, in accordance with Auditing Code and other pertinent laws, rules and regulations. The liabilities, if any, which may have been incurred in the performance of the same functions or for other purposes shall likewise be treated in accordance with the Auditing Code and other pertinent laws, rules and regulations. The herein provisions shall likewise apply in the transfer of agencies under Section 26 (c) and (d) hereof. h7

SEC.

(b)

Incumbents of the abolished bureaus under Section 26 (a) and (b) hereof and the transferred agencies under (c) and (d) of the same Section shall, in a hold over capacity, continue to perform their respective duties and responsibilities and receive the corresponding salaries and benefits unless in the meantime they are separated from the service pursuant to Executive Order No. 17 (1986) or Article III of the Freedom Constitution. Incumbents, whose positions are not included in the new position structure and staffing pattern approved and prescribed by the Minister under Section 29 hereof or who are not reappointed, shall be entitled to the benefits provided in the second paragraph on the same Section 29. To apply to and closely coordinate with the Fiscal Incentive recommend appropriate incentives which are competitive countries particularly within the region. Review Board to evaluate and with those offered by other

(c)

(d)

After a period of two (2) years from the approval of this Executive Order, the mandate, powers, functions and position structure and staffing pattern of the Ministry shall be reviewed by the President to determine the appropriate changes which may include continuance of the Ministry or integrating the mandate, powers or functions of the Ministry into a corporate set-up. Any subsequent reorganization shall be approved by the President through an appropriate Executive Order.

SEC. 29. New Structure and Pattern. The officers (the term "officer" as used in this Executive Order is intended to be within the meaning of the term "official" as used in the Freedom Constitution) and employees of the Ministry shall, in a hold over capacity, continue to perform their respective duties and responsibilities and receive the corresponding salaries and benefits unless in the meantime they are separated from the service pursuant to Executive Order No. 17 (1986) or Article III of the FreedomConstituti

The new position structure and staffing pattern of the Ministry shall be approved and prescribed bythe Minister within one hundred twenty (120) days from the approval of this Executive Order and the authorized positions created thereunder shall be filled with regular appointments by him or by the President as the case may be. Those incumbents whose positions are not included therein or who are not reappointed shall be deemed separated from the service. Those separated from the service shall receive the retirement benefits to which they may be entitled under existing laws, rules and regulations.Otherwise they shall be paid the equivalent of one-month basic salary for every year of service, or the equivalent nearest fraction thereof favourable to them on the basis of the highest salary received, but in no case shall such payment exceed the equivalent of 12 months salary. No court or administrative body shall issue any writ of preliminary injunction or restraining order to enjoin the separation/replacement of any officer or employee effected under this Executive Order. SEC. 30. Prohibition Against Changes. No change in the reorganization herein provided shall be valid except upon prior approval of the President for the purpose of promoting efficiency and effectiveness in the delivery of public services. SEC. 31. Implementing Authority of Minister. The Minister shall issue such rules, regulations and other issuances as may be necessary to ensure the effective implementation of the provisions of this Executive Order. SEC. 32. Notice or Consent Requirement. If any reorganizational change herein authorized is of such substance or materiality as to prejudice third persons with rights recognized by law or contract such that notice to or consent of creditors is required to be made or obtained pursuant to any agreement entered into with any of such creditors, such notice or consent requirement shall be complied with prior to the implementation of such reorganizational change. SEC. 33. Funding. taken from funds available Funds needed to carry out the provisions in the Ministry. of this Executive Order shall be

68

SEC. 34. Change of Nomenclature. In the event of the adoption of a new Constitution which provides for a presidential form of government, the Ministry shall be called Department of Tourism and the titles of Minister, Deputy Minister and Assistant Minister shall be changed to Secretary, Undersecretary and Assistant Secretary, respectively. SEC. 35. Separability. Any_portion or provision of this Executive Order that may be declared unconstitutional shall not have the effect of nullifying other portions or provisions hereof, as long as such remaining portions or provisions can still subsist and be given effect in their entirety. SEC. 36. Repealing Clause. All laws, ordinance, rules, regulations, other issuances, or partsthereof, which are inconsistent with this Executive Order, are hereby repealed or modified accordingly. SEC. 37. Effectivity. This Executive Order shall take effect immediately Philippines, this 30th day of January upon its approval. in the year of Our Lord,

APPROVED in the City of Manila, Nineteen Hundred and Eighty Seven.

SIGNED: CORAZON

C. AQUINO

By the President:

SIGNED JOKER P. ARROYO Executive Secretary

69

DIX 2 1988 INPUT-OUTPUT TABLE SECTOR CLASSIFICATION

71

APPEN

1988INPUT.OUTPUT TABLE SECTOR CLASSIFICATION


39-SECTOR TOURISM

DESCRIPTION

59-SECTOR
MAIN TABLE

DESCRIPTION

TABLE
PRODUCTION 01 SECTORS 01 PAlAY CORN COCONUT/COPRA SUGARCANE BANANA OTHER CROPS INCLUDING AGRICULTURAL SERVICES

CROPS & AGRICULTURAL SERVICES

02 03 04 05 06
0708

02

LIVESTOCK

& POULTRY

LIVESTOCK
POULTRY

03
04

FISHERY

09
10 11 12 13 14 15 16 17

FISHERY FORESTRY COPPER MINING GOLD MINING CHROMIUM MINING NICKEL MININGOTHER METALLIC MINING STONE QUARRYING & SAND PITS OTHER NON-METALLIC MINING & QUARRYING FOOD MANUFACTURES BEVERAGETOBACCO MANUFACTURES MANUFACTURES FOOTWEAR & WEARING APPARELLEATHER & LEATHER PRODUCTS CORK & CANE PRODUCTS FURNITURE & FIXTURES PAPER & PAPER PRODUCTS PUBLISHING & PRINTING RUBBER PRODUCTS OTHER CHEMICALS & CHEMICAL PRODUCTS PRODUCTS OF PETROLEUM NON-METALLIC PRODUCTS MINERAL

FORESTRY
METALLIC MINING

05

06

NON-METALLIC MINING

07

BEVERAGE & TOBACCO MANUFACTURING

18 19

20
08
lEATHER WEARING APPAREL & FOOTWEAR

23 09
CORK & CANE PRODUCTS INCLUDING FURNITURE PUBLISHING & PRINTING

24

25
26 27 28 29

10

11

CHEMICAL

& CHEMICAL

PRODUCTS,PETROLEUM

PRODUCTS

12

NON-METALLIC PRODUCTS

MINERAL

73

FOOD, TEXTilES, 21 TEXTILE WOOD, PAPER, 30 31 22

1988INPUT.OUTPUT TABLE SECTOR CLASSIFICATION 39-SECTOR TOURISM TABLE


13 14 MACHINERY EQUIPMENT

DESCRIPTION

59-SECTORMAIN

DESCRIPTION

TABLE

BASIC METALS METAL PRODUCTS & TRANSPORT

32
343536

BASIC METALS METAL FABRICATION MACHINERY EXCEPT ELECT'L ELECTRICAL MACHINERY TRANSPORT EQUIPMENT

MISCELLANEOUS MANUFACTURES

MISCELLANEOUS MANUFACTURES CONSTRUCTION


ELECTRICITY & GAS

CONSTRUCTION
17 18 19 ELECTRICITY & GAS

WATER SERVICES TOURIST BUS/CAR SERVICE

WATER SERVICES LAND TRANSPORT SERVICES

20

OTHER LAND TRANSPORT


SERVICES WATER TRANSPORT SERVICE WATER TRANSPORT AIR TRANSPORT 44 SERVICE

22 23

AIR TRANSPORT

SERVICE

SERVICE

24

& TRAVEL AGENCIES STORAGE & SERVICES RELATED TO TRANSPORTATION COMMUNICATION

STORAGE & SERVICES RELATED TO TRANSPORTATION

25
2627

45

COMMUNICATION WHOLESALE AND RETAIL TRADE

TOURIST SHOPS
OTHER TRADE

28

FINANCIAL

SERVICES 48

BANKS NON-BANKS INSURANCE REAL ESTATE OWNERSHIP GOVERNMENT OF DWELLINGS SERVICES

29

INSURANCE REAL ESTATE OWNERSHIP GOVERNMENT OF DWELLING SERVICES & HEALTH

49

30

50
51

52
53

33

EDUCATION SERVICES BUSINESS SERVICES

54
55

PRIVATE EDUCATION SERVICES PRIVATE HEALTH SERVICES PRIVATE BUSINESS RECREATIONAL SERVICES SERVICES

34
35

RECREATIONAL SERVICES

& CULTURAL

& CULTURAL

74

FABRICATED 33 15 16 37 38 39 40 41 21 42 43 TOUR 46 47 31 32 PRIVATE 56

1988 INPUT-OUTPUT TABLE SECTOR CLASSIFICATION 39-SECTOR TOURISM TABLE 36 DESCRIPTION


59-SECTOR MAIN TABLE

DESCRIPTION

PERSONAL & HOUSEHOLD SERVICES

57

PERSONAL

& HOUSEHOLD

SERVICES 58
HOTEL & RESTAURANTS

37 38

RESTAURANTS, ETC.
HOTELS & OTHER LODGING

PLACES 39
SOCIAL & RELATED COMMUNITY SERVICES

59

SANITARY, SOCIAL & RELATED COMMUNITY SERVICES

FINAL DEMAND SECTORS

PCE GCE GDCF NTE FTE

PRIVATE CONSUMPTION GOVERNMENT

EXPENDITURE EXPENDITURE

CONSUMPTION

GROSS DOMESTIC NON-TOURISM

CAPITAL FORMATION

EXPORTS EXPORTS (EXPENDITURES)

FOREIGN TOURISM

PRIMARY M IMPORTS COMPENSATION DEPRECIATION

INPUT SECTORS

CE
D

OF EMPLOYEES

INDIRECT TAXES LESS SUBSIDIES OTHER VALUE ADDED

75

SANITARY,

PSIC CLASSIFICATION OF TOURISM-ORIENTED SECTOR


PSIC 71242 Tourist's service buses and cars, including chartered buses, and rent-a-car porter service, social

2.

PSIC 71920

Tour and travel agencies excluding escort service

tourist guides,

PSIC96900

Amusement and recreational service, not elsewhere classified Includes beach resort operation boating and yacht club operation Personal and household services Includes laundry shops, barber and beauty shops, tourist guides and social escort services, massage and bath operation Restaurants and other eating and drinking places Includes cafes, refreshment stands and kiosks, day and night clubs

4.

PSIC 97

PSIC 982

Hotels and other lodging places Includes motels, pension houses, and dormitories

76

1 3. 6. PSIC981 5.

77

~NMv~w~~mO~NMV~w~~mO~NMv~w~~mO~NMv~w~~m ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

-UJ

C/)< ~uot:o
.> >Q.

i=

<~ti=

aaavaaNm~~~aavm~m~avN~av~aNaVmaaMwawa~M m ~~vNm N aVMaN mm~wm aN~v~ ~vw Nv~ am w~ v ~ va ~0 ~v ~M ~~~N WvMW

11)

~ ~

~Mv

N ~ ~- ~ 0

~ N
0)- N": N "':

m~ WM

~- ~- N ~ ~
W W~ N m ~ ~ m M ~v
D N"""NI/) ...O)I1)I/)"'N 11)~ 0)0) N CC

~ ~ m
~

v- m

~- ~

N W

~ ~ N

0) 0) 0;

"'CCNI/)I/)

",N...O)... O)"'O)I/)CC o;":OM"'-

"'... CC 1/)", ... 0)-0)- 0;

11)~

0)

~-

~oomoo~mN~mmvm~~~~om~oo~~o~o~moom~o~Mmm ~ m o~~omm~m~v~o ~om

~ W v ~" ~" m

~ M" m

ci
aI~ ~- NN ID ID N

~~~NmVOVM~mV W M" N ~ ~" ~M~~mN~m

MM

v"

M~

~" N ~

M~~ M ~" ~N~ ~ M

8 0" ~
~ N 8 Nr..NM'" O"""MaI MCO r..r..

M ~ ~ ~"

-~

m M 0" V

mv Nv v" .~" N

~m m~

~oOm ~~m~ N' ~"

r.. M co

O~~"'N CO"'CO"'CO ai co;~- ai ai

MN"'r..",

~~ '" ~O co ID ",- CO-

MCO

.OOOOOM~~~moo~.w~~oO~OO.WOO~Nmoom~O.Nom M mo~~~ m ~~.~~

~ ~
0)

,..
"'O><DOOO>NCO<D 0> 0>0> O><DCON

~ N ~
~ '"

N ~

m
.m ~ ~ ~ ~ ~

0- .-N N ~~ "'- ~- .: co" ~'"N "'~~~ N~ N


a I''" ",- co" co" ",0"'1'-""" mmcol'-~ co" .: 00 """ co" 1'-I'~

N~~.~ .~WW~

mm ~

N .-~

O.~ ~~~

~ m

~m ~.

N~

.~~. mMW~

~ M-~ ~-

ON ~~

~- ~

o~wm ~~mm

'" COCOO~'" "'CO ~'" """"'1'-"'0


m mol'-oo ~I'-

co
m
CO

N ~-

~
NOM
onom coon

.~ ~
O<D~COO~OMon<DM"'on NMNO"'MoncoNomMco

N~-""-"'-"'-":MM-on-~-N""-""~oco N~ o>ononMO"'~Oon"'NO<D""O~OCOMOOCO""O""~"'M ~<D"" "'~<D ",on ~ Monon N

>C'
O>~ CO '" M M <D CON m ",on m~ CO~MM ""Mmo NN~N 0) '" .0It) ~ ~I'ai ci O)~ ~ .o"'O)o~ .o"""O).o~... N ",- CO; .,; ~~ ...1'-0"""" It) "'I'-",~O)~.. "'01'-1'-1/) 01'~'" ~ r-: .0 '" It) .0

~
.~

Q) II)

oi ",- oi
CON M

ai

~"'co~ "'N

m-~.ai
N~ ~ ~ ~<D

"'-0

oi~-

M""-

~-OO.M

~-

~m

ciai"'-NI'--air-:lli<Ci 01'-.0

co"

~
OOOVOOOO~O~O~V~~~NO~Mmoo~ooo~moom~ON~~O ~ MN~ N~~~Om V ~~O mm N~~ V~O ovm m ~ m ~ ~N M~ ~N ~~ ~vNv mM~~

Q) ~ W N 0 ~m M- ~ ~ ~- ~ ~ M ~ V~ M M m M ~ ~
~ ..: ...0'"

c
:=
'C 0

Q)

.~-

>-

It>"N"'-NMNIt>"a)M ~ ~"""<om <0...


~..:

'" ~ ID

MID"'lDm ~~mm~ <O~<O"""

"'~ mo <OM m MM

M '" m M ~ It>"

E E

u
v N

OOOVO~OOO~OOM~V~OVO~~MON~omO~VOOMNO~~NO N V ~~~ m M ~~V

~
~ ~"M~ ~~ ~~ ~~ NO ~V m

><
>:=
'C 0

m M

v"~m

m~

mNMMOM ~O moo

Nri~

NNN

~~~ MmN

VM ~~

riN

~~mN ~O~N

ov"N

~~ m~

WW

VM~~ vvO~

M~(Q~O
~ ~

In~

~mri
M~

'a) ~~~~~
co;

Iri

N!,-Q)~" NInO..!'-

O-..:~'ai(QNM-":Nco;

Q)~ ~~

~~

1ri/D
~~

M Q)

..:
iii
~

E
0
O~ ."~

E
~ ~ M M
~

... Q)

N ~ 0 ~

M~N~mM~~

~~~N~Nm .W 0 m m" .~" ~~N ~ m ~

~~

mm

N~O N ~ ~ m

ON~

mN

mm ~ .M

~~.~ m~"

Mm~M

~. ~" w N

mo

Mm~

MmO ~" ~" ~"

...OO"'N...

on ~coon "'... a '" "'N"'...on co'" '" g N


N
rD LCiLCim" ...onNO~O coi"'-m"

Q)Q)

"""NO'"

on

LCicoicoiM M"'~~

co

rD Q)

0 CJ
mONmo~N~mNo~~w~oo~omMoommo~mw~ooo~omooo m ~ M~WmWNNmMN ~M m 0 ~m~~mM~M~ W~
(0 '" '" 0m",OIC')o...", ~"'(Oo"" OI~OI"'OI m a ...

U)
0)

.
~
~ ~ N N M ~mm~~~ ~ ~ M ~~ ~

~-

~ W ~ ~- .M- ~ N ~-

N ~-

mm m~

mM

~ W

mm ~M

~ ~ N ~m~ WN

~WWN mmMW

0 ~

m
M

M ~

M-

M-

.,,~

8_,.: m",~", lIS 01lIS "'(0 0"'m...(O...o II)C') ~ IIS",-~ ~ C')C') ,,

(Om "'~

C') ~ II)

ONOOOONOONmOO~MOMwo~~mOMNO~~WOOON~ON~WO ~~ ~ wm

mo ~" 0;

~
V v"

N m" ~ m ai

mv N" v" ~ ~

~ow

MNm ~" ID

N~ ~" M

v~~

VM

vN~

mm 8 " ~

WO

vm ~" N

~~

M Ln

0
~ 0

a)NLn~N OM 1'-0 I'-a)LnCDO)

I'LnOa)I'-a) O)LnI'-O.

"ai,.;.,: ."
~

Oa) a)a) O)CD

LnO a)a)

~"a>" N 0 ~"w':':~"
~ ~

~ ..CD M
a)

ON

MM"

NOOWOOO~~~OOOMm~~vovmMo~vo~~m~OO~MOVWVO N M ~~N~M ~VM~W

~~~W~

~ W or)
~

mmNN~v~~~ m M-

N
~

~~N

~~V

~~N
~

O~~

V~

M~

v~

mm~M

m~~M 00 VM N

MM

~w-

NN

MN~

Ma M-

a M M N co

N"'~a~ "'vNmv ""COMav

~M "'m VN

M ~ co

CO- ma-aioa-im..;..;m
V mNMV"" MN~ a V

",-",' ",-m
00 ~~ co'" ~'"

Ili m ~N NN
M ~

6'
Q.
0 0

~NMv~~~~mO~NMv~~~~mO~NMv~~~~mO~NMv~~~~m ~~~~~~~~~~NNNNNNNNN"'MMMMMMMMMM

-W

~uo!::o

C/)< <.> >0-=


~I-

79

MOONooo~.~m~.mmOO.OMMooomommMmOO~.ON~~O

~NMv~w~mmO~NMv~w~mmO~NMv~w~mmO~NMv~w~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

-UJ

i=

~uot:o

(/)< .>
>0-

<i=

"I-

OOOOOOOM~NmmO~MNNmOW~Mom~o
8 ~W ~~vOO~Nom~mm mmOVNMWm~Nm

8 ~~ VmmM Mm m~m~

OM

mVm

~m

N~mm

..."""tD""" ...M...tD...m...~

aJM'"

~m~~mwm

~Nm

~~

V-Mm~-a~m
M~~ ~m m ~ N N ~ mN~ N NN m~~~ mm ~~ ~~

w'~-V.,,- N ai ~ MaJaJ~aJai ..."""O"""

a~m

~~-

~-~~M

w-~-

~w-m~-

..."'tDaJ"'aJ

tDm

aJ

ai.:.,,-.,,-~-r-:ai ~ ~"'...

a N aJ~ aJ...

ai '" ~

aaaaaaaawwma~~N~awaow~aMMamaa~aamma~amN M~V MW w~w av ~~ mv~

r.:Na N
'" '" ~"'I{)

cr> v aI- N- aII{)N I{) aI CO"alNCO ~

mM

~M~

~m

~,-: ",- NrD

.-'"

ww

"'W

Wm

~v

mvNM

.--",

w~m

"'COCO"""" 0 aI",I{)CON '" mmm"o

OCO alCO COCO

0) CO 0)

ooooooovow~mV~~Mm~O~ONO~WO~MW~OOOVOO~~V N ~W~mN ~ m~~MW WNm V~~ m W W 0 VM ~~ ~NMM ~~M~ ~M ~M ~mM mvm

~ In

co co ~
0) ,..

OOW-V-~ M
N~M~ ~ N
~ r-. I() oml() ..,.r-.r-. ~..,.C\I 0 ~ 0

o;

CO;

~-

0;

"'". "'. In.In. """.


.--~-~I()(D (DO r-.m..,. r-. r-.

,CO..,O "'O","aJ~

"'CO "'"~

"'". "'. 01.


N

"'" co

~
~
0
0 m

oooooo~om~~m~~~m~ooooov~o~~o~VOO~OOO~OOOM~ ~ M mom~moo~~oo~m

><

.~

~ N
~
",~ N"'~ ai ~~ V
~VM~VMO

N ~- M~~~~
0;:
M ~

~~v

N
~ ~v

~~
~-~ ~
Mm ~ ~

m~~ ~OO~

~~ ~M

m [;) ~o1ifij 8 ~~
0)-

~vOO MOO~~

m ~- ~-

OO~ ~M

~-~

~~~

~MOO M~~ I It)",... ...~"'... 0)":"'-0 (D"'O)'" ~ 0;0 9 '" ~

It)

"""'OO(D

I"""

Q) II)

~
N '"

::)

'.;:
II) Q)
ooovo~o~~~mm~~m~~~o~-~o~vomN~moo~~o~~vo m ~ vmmNmO~~Nm~ -~v
8 NN ~~ m~m mv -mmN ~~ N

(,)

E
vN ~N~N ON m m ~N~~OmmO~~-

c
~ -v m ~~~m N -No~~~~m v mmN N NN ~~~ m~ -N --

Q)

M .--M N --~ ,..:vN

Mm~---N~-m-NN---~-

O~v-

MO

O-NMM

OM

~m-o--

.-=
'C 0

>-

..."'U)I'-I'-I'~(OI'-(OO 0" (0- ",- ci ...~U)NO~ "'(oI'-~'"

0(0(0"'1',.: 0"

~O N'" 0" (0NM "'...

U)U)

'"'" M r.: I'-'" '".".

ai 1'-- oj ci M

~...'"

ci ~-

U)

0"

E E

u
~ ~

0 ~ma ~ M ~ v ~ ~- M" M m- M m m m~m~ mN v ~ ~ ~m~~ v" ~ ~~ ~ ~

maaa~NvvaNM~~m~~~maNMmavaa~m~~aa~ma~~mm ~ mNMmmm~N~M~MMN~~ ~ m M~vaM~aMa~ M~N amM vN~ N ~m ~~ m~~m vm~v ~m

M~mm N~

0 ...~"'~'" M "'~all'-'" ...~"'all'-'" I'~

oj

m..:or;malN
"""N~'" lOaI~~'"

NIO ~O ON

",-,.,~N
aiM 10M

10 M 10

:c
0
OOOOOOOV~~~VN~No~wom~~ON~OmOvvOO~~ONvmw

:8. ~. R. ~. ~. ~. v. ~. ~. ~. RI. v ~ N ~ ~ v ~ ~ ~ V M
N~ N ~ ~ M ~ vWv~ Mm N~mNOWM M

><

>-

,.,-",-

~ '"

N to:

E E

u
... N W,.:
oooommOOMVVV~OOVWVMO~OO~O~MOVO~~OOOOOO~NON ~V WW~~OOOMM~O ~~ ~mNOO~V

0
O~N~

~. m. ~. ~ ~ ~

~. :3. ~ m

v. ~. ~ ~ v ~ m ~.

~ ~ N M
~~

~ ~ :8 1R ~. N N ~.
NN~~

~ !e~~~a) ..-";'-"-cDai,... ~ ~~1:::8~


~ ,,- cD ~- ~-.,,N

Oa)~~~

..-0 ~..

~~ ":0 ~~

00

.,,an

@ anM

(,)

cn .
0)

Q)
NNV N~W

Mm m
oowm

wW oo~

m8 0- ~M m~ ~ ~~ ~~ N M ~ .
M

.V-

~N MN

N V- ~- M m~
00 m

~ ~

~ ~

~oo MO

MM. ~

~Mv ~~V

N .

a> 8

t-.a>COLl)", Ll)""~t-.co
~Ll)~a>~

NO) 0Ll)
o~

t-. co
~

~ ~*8NN
co" ~ ai":N

~"

co"co" M 'i

Ll)"
M

~S! ~
rD"; ~

","
N '"

OOOOWNON~MW~M~~M~~O~O~O~~OWOv~OOONOM~~O MN MM~W~W~~NON ON ~Nv~~N~~N~M

a N
~

~~

~" ~~" ~ a ~ ~ ~ .M
~

~"
~

~~W~M W ~ ~.

~ ~

N"

~ M"

~N ~O

~ ~

N
~ W

NM Ov

~" ~"
~

~ ~
N

~M NM

~Mv~ vv~W

'"
M M ~"N

'" ~-

CX)CX)"""(\I",(\I
r--"'cx)cx)~"'(\1 "'- ~- r--- r--- (0"'- "'..."""a"'... '" a)"""""" ..,. ~M"""a) OM'" ~'" "'M

'"
~ "'~ a)

co"

~-~-

,."Iii

~~

~oorom~m~vVNMvrov~v~o~~moV~oNN~Moo~mo~o~m ~ rov~~~Moro~~MMm~o

M~m

~M

M~O.

.M

~
N v

N. ~. v. N. ~. ~. ~. v. ~ ~~ro~~~v~vMm~~~M
~VM~~NmN ~ NM N~M

N. m. O. N. ~. ..~.
~ ~ N~ ~

O. ~. ~~v
~~~ ~

~. v. ro~
~

~~~ NN

roo ~. ~. ~. Ov~~

m v ~N
~O

MM..

COMO~. ~ m M m mm~.N ~

~ M

Q)I"-~OM mM'otMI"on I"-

NO'otl"-O

~m Q)I"-

Non

0 ~

I"-

M iii
~

co" ~- Q)-..: Q)- oj iii


Q)~on~m COl"-Nmm I"-CO Q)on

~ M

a.iii co" N Q)- 0"


on ~~

a.-.j
Mm

0~ ~

00

0 Q.

~NM~~~~~mO~NM~~~~~mO~NM~~~~~mO~NM~~~~~m ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

~ ~uct:O 80

-w

(/)< .>

~I-

<>a.

'"

~NM.~~~mmO~NM.~~~mmO~NM.~~~mmO~NM.~~~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM
-w i= ~oot:o i= ,> >a. ~I-

(/)<

<-

OOOMOWONMM~V~Nm-~vO~V~OMVONWN~OOO-O~V~~ m -OVW~M~-~~mV V ~MMW~~M

8-~-W
~- --N
N~N
M "

a 0- W M v- v~- a W ~~M~N~O WM -0--M~_-m-

WNM

N~N MmM

N~ v~

v-Mm~o ~

m~~w ~mMO

N N- ~- W

~O N~

M N

O~-~ MWN~

Mm ~ m

-or;
mmmv(O ~~(Oa)

,.: .co" ,,- ..;.:


..;.: a ~ or;or;.: ~~ N
mm a)m" M

III m 0

NvmN~ ma)o~V M(OIlI~(O

ai..; a

(Oa) VM mM

M M V

ooooooo~om~oovoo~vovomom~o~oomOON~Ov~~~ m Nm mMmM~

~
m N~ vN ~ ~ N ~ V V ~v V ~ ~M~

~m

~. M

vm~~v

M m~

~ m

v-

M ~

v'

m~ ~.

~.

m ~

N~ ~~

m~

N ~.

m~ ~m

NN~~ ~~~m

N Mm

~ '"

..,ailti,.:..,-~NO '" .0 "'~ CO)""" CO) '" "'CD r--~ ~


",,.: .-ai tD m

"'~~m~ ~"'~~CO)

m~ "'~

~ CO)

OOOOOOOVO~~OO~~VN~OvO-O~~O~O~vOO~vOvNv~ ~~

~~NM_~; m m 8 M 8~~~ v~-~~ -m -8~81 N-NI

0- 0-

~~~m~

M- m- 0- ~- .n.

V-

~-

~M

~ V-

M~~~

N- "! V- ~-

~- ~-

vm

~~vv

~- ~- 0- M-

~ M...OO~N ~ "'0<000'" ..."'MInInN

.0) NN N

cn cn ,.: M

~ M

~~ mv

Iri ~-':.D...'
~~ 00 ~ "'-

OO~ """ <D~

",-ai ..,-

N 0 <0

&J I oj

N~~mr;; r-: ~-oj

~
~~~wm.
~VMM~ ~

OOOOOO~~~MV~OM~~ooomNVO~~O~M~moo~mov~~~ mM~~~O ~~N~vN


~~m~M~ v~m~

><

.~

~
M~~~N ~
...N
--=" or; ai
NM ~~~ ~~M

mMO~~ O~mvN

.mN ~~~~ ~~

~v~ ~~~

~~ ~~

O-~~
~MNM V~~~ 0 mN ~~v~ N~~ ...O=NOI --tNCO CO -CO'" -=...

V-O-~-N
..: =" "," ai or; oj ai

~~~~ N~m~

M~ ~~

O-~ ~-

~~mM ~VNO

co """010'"
CO ="""NCO -t 0 ",= =CO 01" 01"

-"'-

~~wO-

=> u =
C/) oooooooo~~~oo~m.~No~~~om~O~~~NOOOOOOO~O ~m. ~~~~~
oo~

Q) C/)

~-~

MM~~

---M It)aI
,-"':O

In

Q)

:s 0
E
ooooooo~oo~ov~~m~~o~v~ow~oWOWOOW~~O~~M~ ~ MN MN~N~ 8
~ Mm ~NvvW MMW ~WM ~~ ~v W m m~ WN ~~N ~M~ m~m~ N~~~

'" N
~ W ~~ ~~ ~~ W N M ~~ m M mN ~~

Q)

N~-~ ~~ ~
N ~ ~~ .~~

~~~O~

~~O~.~~ ~ ~
N~
<0

~~~ ~.~

~~N
M

~~

~~ .~

~om~ N~~m

~-~-~~

~ ~ ~

~ ~

~. ~m

N-~

N N g alMO It) -NONaI...


ctiai"':
"'aI

It) N '" <0 M --Inlt) N

>-

u
><

0 WM M-~ MN mMM mW ~. W-~ MO-~

N~-m~~

N CO '" N

ai.-",-ol)-'-"'-~-"'-.m m .: COO"'N... "'vm",ol) N mol) N~ ..,-,.:ai ol) ~ 0


~

Nm",O~ mLnN.. O"'~...~

"'0 COCO ",m

N N '"

:=
'C
OOOOOOOV~Nmoom~M~mO~VOOV~ONOM~OONNO~~M~
v~~N ~~~ ~m ~ ~N ~~~~M Ovv ~O ~ ~~ ~~~O M~M~~

>~N ~~ M~v~ N~Nm 1

E E
~MW~
v ~~

.. m
M ~~ M
ooooooo~~~moooM~.Mo~Nm~~mo~o~~oom~oM~~~ ~m~o ~~~~
N~~ o.~~~~

V.m~ N

O~M

00. N~ ~

0 ~ M

MV

~N ~

~.M 0 ~

~~.M~
~~~~

'" '" N <0 Q)

I'-~I'-M~ <OMNQ)N InOM<O<O

N'" <ON <ON'"

... Q)

NNco"O-~N
"""<0"'<0 M"'N'"

0"; ..: ..:


NI'~~

... 0

u
..N~~~

cn
I

Q)

0)

M
~N~.

..mM ~~

~m

~~mM ~~~o

.".,,~

-iN.-M

~M

ci ~

.,,-

NcD ~

N-

cD~-N .~

'" IX) ~ ".. '"

O)...~~".. IX)M"'O)(O """""",,0)

M""" ~O 0)",

IX) It)

0"

N M" .,; M N
""""'" ~

It)" ai
"""

~ It)

ai

aaaaaav~amma~a~am~a~a~aNmamammaw~~amv~a wv ~a

~ W
Ma N~

m~ N~

~ ~ N
~ M

v~ ~~

N-. ~ W m ~N~ ~

m~M~Ma ~~~~w~

~
~

~ M

m
M

w V

~ ~
OM ~N

~v ~~

N ~

~
M W

~M ~~

N~ N
~~ ~

~aM W~M

0 ~- w
~~~ V N

~ ~ ~- ~
ma~ ~~

~ww~ ~~vm

'"

,,-

(0 v ai m "m(O"",

Q)NO "'mvN(O~" ai.,;..:.,;,o (OO"'(OQ)

OOQ)
~-..:

S"
'"

Q)(O

"""
~air.: Q)'" ""

M";

N N r.: '" '"

Q)
M

"'~"aaaMU)"""ma

am", '" M-

N~N~m m"'~'" "'m~ ~

~"'~U)~ ",oom

""'~aaU)m"'aMaaMam.oaMU)"'a~mMm"""" mM.o"'.o~ M~'" .0... "'~ ~""" "'...'" ~m

"," ...'"

~M ~

~~-~ ~

~~ ,,~~

a '"

m~'"

~~ .0'"

"'mM Ma"

o m ...M'"

aa~...Mm.o "~oo""-~m ~-~

'" '" '"

"""~"'m ..."'a>a>~ ...~a>...a>

m... ~'" "',..

'" '"

mm '"

0 0 0

co"

"'o""""'~... """..."""

ai ci

,
",m

",- M

ci

... '"

~-

c.. c ~

~NMv~w~romo~NMv~w~romo~NMv~w~romo~NMv~w~rom ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

i=

-w

(1)< ~(.)ct:o
,>

<>a. "I-

i=

81

~NMV~~~mma~NMV~~~mma~NMV~~~mma~NMV~~~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

-w

i=

~uo!::o

cn< .>
~Ii=

<>a.

~- ~ ~ ~ M ~ m ~ M N ~- M ~- ~ ~ ~ M M ~ m ~ ~- m-MOM
tDor)
~~ O~ ~~
'" ~ (\I '" ~ '"

m~~m

~ ~ ~
~~OM~~~~ ~M~

mmo~~m mm~~~~

~m~mmmM~~~o~~~mM~o m~M~~M~~~~~

mM~~~

~~~~m

~N~
~ ~~
or) ~ "-

~~~

Mmm

~~

~M-

~mmm ~m~~

M-NM-M-

OOOOOOOOON~OONNO~MO.O~OOMOOOMOOOONO~M~M ~M ~M ~. ~m

.-~ ~m ..~
m~
'" '" N '" NI'--O)I'--a) a) (')CO coco .--~~ N ..-

N M
N m ~~

~N 00

W~

m ~

M-

~ m

M~ ..~

~- ~-

m ~ ~~

~m ~~

M~

MO v W~ M ~v~v~M W_~_~_~_m_~v~~WN~ ~WmMWN ~Mvvv~~M~ ~.v ~.M.V_~~.~.O. 0 ~M~v~~~ N ~N~ ~~ N.O. NN NM OMO~ m.w.w_~Ov~~ ~NM vmN~Nm~ v ~.~ N ~ W.~_N.W-i ~vMW N~ I I'a 0) I'-O"'~'" ""I'-I'-~~ CO""'"

00

00

O~

~OO

~W

~W

M~W

~O

OMO

~W

OONMM

In In
m ~- ~ N N N m N

0) ..-

~
~~~~

O~NNO~O~~M~VOON~~~o~~momNO~~N~OO~~~M~M~ ~O~~ ~VVm~om Mv~ O~OO~MO Nvv~~ MVO~m ~M~ ~~M Mm M~ OOMN O~~O ~OmNVOV ~N

'0: cu
..NN<OO)O)

>< ~~~~~~ O~~ MN


~

~~mOV-MN
NmO~~~~ N~ ~~MN ~ M m ~N

N
'"

~W~

m~M

~-

W~

::> u

Q) (/)

i
Q)
OOOOOOON~mMNo~~oo~omoooo~omo~~oO~WO~~N~ ~mmmm ~~O~~ ~~ ~m ~W O~ W ~ ~~ wm ~ m O~ N~ MM ~~ ~W~W m0~M

E
on

:c 0
E
~a~aaa~~m~v~a~a~~aaMamaM~a~a~Maamm~~~vv N a av~~~M

0~ ~

Q) ~ ~M

0
~~ N

~~
~
~ m

~M~
~~
on ~

O~
~ ~

W ..;

NW-

m-

0-0-

>-

E m 8.m.N
N N M v~ v~ av ~~ N v N ~ v v V N NM VM

u
><

m M. ~ N. ~ m. mMN

m~Mm~

M. M. ~. a. M. ~MNNM

~. v

m. V

~. m. ~~

N~

~. ~

m. ~ a~

~m

~
'C 0

>OOOOOO~M~~~O~NN~~~ONo~oomo~ommOONmMNN~m ~M~m~ N~M~~~ O~~MM ~M~~~~

E ~.~~m
~ ~ N ~ ~ N M ~ N~~M

.. O_~ ~~~ooo~w~ow~o~~~~oow~~o~momo~~oo~womm~o ~w~ ~O~MNN M~m ~~N~W~ ~~~~~ ~M~~~ mmo MNN ~~ W~

0
N~~m~ ~

~m~~o.

0 ~

~ M

~~ MO

M-~- ~ M~
~M ~N

M m

~M N~

cn
0) CO)
~ W ~M MN w~ NW mMNO M~N~

Q)

.
M M ~" ~MW ~ ~ ~
~~~M~ ~

~ m" m m" m w ~MN~~ ~" ~ N" M ~

~ ~ N N ~ ~

m M ~~

m"
N

N" ~ ~

~~"
m~

O~~OOO~V~NV~M~NM~~OM~VOO~O~O~~OO~~OVMN~ N~M ~M~~ro~v~M~~~ M~M ro~MO~M~OM~~~

M ~ Mom
~~M ~V~ ~roOOM~N~~~ ~N~~~

N ~ 0 m ~ M~ ~
0 MVV

8"~" M
N"

~N~ V~~

mm~
0 ro N M

~N O~

N m
NO N

m
M ~

~ M

~~ ~~

~"~"
~N NN

MN

ooooooooooooooomooooooooooooooooooooooo

(') m oj II) ~

0 0

0 D-

::::.

~~-~~~~~~~"""""""""""""""C')C')C')C')C')C')C')C')C')C')

82

~"'C')"""<D,,"~o)O.-"'C')"""<D,,"~o)O~"'C')"""<D""~o)O~"'C')"""<D,,"~O)

~mmo~m~~

~mmw

~O~OWOo~~~~~m~~

~mOMO~~~~~~~~~M~~OM~~~~ Mm~mMm~W~~~m~~o~~~~m~m~m~
88 ~ "'0 0 00'" 0'" '" 0

...(\10000 (\I ...0 ~~MN~~~m ~- ~- M m ~ ~ ~ ~ '" "'..."""" ~ ~~"...'" ~N~~a~-aNa~~m-m~ ~~N "'-O":":tD (\I ""z,"""'" ~~
~~~O

0(\1

'"
'" 0

",-a.-"-N", or)

~m~~~~~~~~Mm~~mOW~~~~O~

8-N '"

.~ mm

MW 0 N

NMmM ~~ON

~- ~ ~ m .NO N

a) ~ I'--

a)"COCO" "'" "0 O)~ ~O)

8
M

aiaiiMO

Oa) "a) N~

co 0 0)

M~

Mm

or;8"'-8~ ~ N"CO"'~ or; .--N ",-or; 0-

~CO I'-~ 0""'"

'" N

a;a; ~ sre

~-V-NM

o ...alalalO) I{)N ': ':..,-N"'-"; NN <0 I{) 8 "I{)~ ~<O ..,..,..,-

aI

",I{)"<O""""

<OaI

'" N 0) 0) a

<0

r-co"'..."' ~ (O...m...o
N
r--~(O(O~
m~"'~on mmon

~-~

~~-Nm

..:ai":tDN
",COCO

ai..:
~~

(Oon on",

'"
..;N..:..:rri..: ~

m
(0 (0

",(0 m

~~

'"

'" "'~~O'"
m. M. m. M. a. m. v. vmv~vNM
N~~
m~mvm~a

...~.~M~"'CO

0) a; ~ CO

","'.",0).""" c? 0" or; ,.: CO"'O)""" "'M.~O)~.

~M '" M
0 ai~" ~"'... ,.: 0

,.:

-i

cD":

0"

~~m~~~~ ~mOMm~~

'"
~M m~~

0- "'-C')_O.~.r--. C')-CX). CX)~ aI"""""I'-""'" M"'MI'-M """ 0 M~~-~~~-~ '" '" '" CO; .: Oal"'M'" CO; ai M"" a
N

C')

",<O~NO)

~O)C')C')CX)"-<O

CX)C') CX)
0)

'"
~" m ow N m ~" ~" M ~ ~

m m ",ai

COCO"""... "'CO '"


"'cococo'" o"'~COCO co-cDIri ci r.: "'... """ ci
...",~coCO'" co ~"'...~co ~'" "'co

... '" a
'" '"

~-

..,- ",-..,-

~~

N '"

~OM OO~

v" v" ~
~V roM

OOO~ V~~N

'"
'" ~ m~" v" ~
MO~N VM~~

C?~~"'O~"" 10'" "'


"'0"'<0 """""<0
10

'" '"

ai."...:ai..; 10 <oC?m """"<0


~- N N"" <0-~-

..;",-",NIX) ~"' '"


ai 0-

'" N '"
'" oo~oo ~~ a

It)

",~

'"

co'" N""-

16 ~~
oi
'"

co M

It)It)

co-a;
1t)1t)... ",- <Ii

a;
MM""

8
~
0

-w f=

~UQt:o

cn< <.> >a.


~I-

f=

~NMv~~~mmO~NMv~~~mmO~NMv~~~mmO~NMv~~~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

I-

=
(.) t::~
i=

~woC/)<

< > Q: "I-

M~mN~M~~Mma~~M~M~~m~am~~N~~NmMamMm~mN~~ ~~aaMNam~~~~~aM~~~~mMNmOONN~amM
8 ~~mM~~Na ~Nm~ooM~m

0> 0>
88 a a 0 a 00 00 0> a

00000 0

00

0>

~ 0 .~
~M~Mmma~~~~~~N~M~mmMMN~~oom~~M~

mNMmNM~~
8 ~OO~N~~~OO N~~~~~~m~~N~~~~~N~MNM~~MN~~mm~ ~Mm~M~moo~oo~~~~a~~~~~~~~~~amm~N

~ M ~- ~ ~ m m ~ M ~ N ~- 0 ~- ~- ~ ~ ~ ~ 0 ~" 0 m M .0 ~a
mM
a> ..'" a> (0 In

~ ~- 0 0 ~" M N" ~- M
In a a

on"
"(OM" (0",,0> ~~" 00

..-N (0-"0 r.: ,,- (00> 00 a> M ala> '"

m m
M M ai

~-

N~" ~~" ~ ~ ~ ~-~" ~ 0 ~"N~ M~~~~ ~~N~~~M~ ~ N ~


~~~ ~

N"N
on" N ~-

~a

~o

Nmm- m ~- aNN ~- a ~-a a"~~N N~~N~~NN~ ~

8 NM~M~mmavw~mNv~~vmwv~M~~Nmvmmv

~
0)
V ~v ~~ ~ ~V~N ~N~ VMNwm M~M ~~~~~~Ma~Wa~ ~M~ ~m~ M ~WN~w~~aN~ma~mmM ~~ 1

~. ~ ~ 00 00 v' w' W M. W ~ M ~ m ~ ~. ~- v- N m' ~ m ~- w' ~ 0 ~ ~- 00 MOO 00 00 ~- N ~ W m-~ i 01. '" N~NN~w~av~N~w~m~ 8.M_m ~vam~m~~NavNw~Na~ ~~~N aJOI ~_m.M.~_N_M ~_m.m_",-~_m.",-~_N_~m_m.m.v m_~_~.~_m_~_m.~_N_N_m. 8 -~_v'W'~01 ..(C OI~
(Co aJ

~v m~~~~v~m

N~WWN

.~ cu

~
Q)

000000000000000000000000000000000000000
a a a '" '"

>C'
a ~aaaa a~
a a a

C/)

~
Q)

c
:=
'C 0

Q)

>-

E E
0

()
)(

:=
'C 0

>m w a m ~
~ C\I~~~..~C\I~ a m a C\I .~ a ~ a a o~ a

... 0

0 ()

E E
~_m~-o mC\l .~, ~~ .~ ~ ~-M~-:::""-N O_O_M_W_M_~_m_m_~-~_W_..C\lO~.WW~M. ..~~..~ 8 ~~ ~WC\I~MM m~ NM ~ ~

8
a ~ ~ a a ~ a a ~ a a a

~om ~~O ~mM C\I~ N

w ~~ m .C\I

~ ~~ ~~. N

u
000000000000000000000000000000000000000

Q) 000000000
M IX)

(/)
I

0) CO)

8N r--

~v~~ ~~a~

~mmaaa~vva~~~Nm~~~aa~m~m~vm 88 aav~ 8 ~~~m~ ~v~~ m~a~v~a~v~~vvav~~~~~~ m-N 0- ~ ~ ~-w ~~ ~~- ~ m 8-m~ ~ N M ~M OM ~~-~ ~ W ~~-a- ~ ~ M~ ~~~~~~N~~~v~~~v~~va~~Na~N
88 ~~ ~aNm~ am~~~~~~vam~~v~~~~mmvaa m~a~v~N~

v~~m

M 0- ~- vN~N ~

~- ~- N~~ ~

Nm~~~~m~N ~~a~~~~~~~N~~~a~~~~am~am~

~-

~- ~-

m~

~ M ~N

NN~ ~ N ~ v- ~v v- 0-

0 ~- M ~ ~- m

~v~m~~m

~mOMO~~~V~~~V~MV~OM~V~~M~O~o~oo~~mmmmm~ mmvmV~m~V~Mm~~mO~Nm~~O~o~ MmmmMm~~N~~~m~OmN~Nm~mmm~

V- ~ m-~ M m m-~ M- N ~ M ~- ~ ~- ~ M- M V- m V- ~- ~- M 0
~~0~v~
8 ~mm~v~

~mm~ ~~Vm
M~~ ~~

M-~ ~ ~
~~~m~mMNNVo~~~mMNO m~M~mM~Nmm~

m ~- M m ~- ~ ~~~~

~mmo~m~~ ~VMN~mNm
~mm~ ~~~~

mM~~~

~- N m- ~- 0- ~ 0 N 0 ~ ~ m m ~
~~~~~

~ N ~
N

~ ~- ~

~- M

~~

M N- M M

~NOMm~~m ~M~

~- ~-

0 0

D-

:::.

~NMv~~~mmO~NMv~~~mmO~NMv~~~mmO~NMv~~~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

83

~~M~m

NNmm~ma~mvmVMNMmW~WNw~m~~~aNNMavm
0
Mvw~mwNmam~NmMvv~vm~~Nwm~Nm~a~

'"
01 O.
aJ(C .aJ

Noooo
.

oN

13

OI~
~
a a a

~aJ

'" '"

N "''" '"

N "'-

"'-

~ ~

'"

~ ~
It}

~oooo ",...0
~ ~ It}

o~ or; ~w
M

~ g

It}

It}- or;
0
M

It}

,.:
... ~

8.
c.;

8.
c.;

'"

CD'" ~- ",' ",' I() --I'-CO I()

'" '" N

CO I'co"

1'-0000

01'-

CO 0 I'0 CO' ",'

'" -

CO

I'-

ai

",'
I()

..."'0000 '" ~

~~mo

m m N co co co...co"'
~-~~ """""...m

...0 mo

88

0 a

0'" 0'" am

Nmo ui"'-NIn'" In",colnm In ~ '" "'.., oco.., m ""-

~.., 0..,

'" In- .,; In


a

m m a

-w i=

(1)<
~uo!::o .>

<-

>a. ~f-

i=

APPENDIX

85

~NMv~~~~mO~NMv~~~~mO~NMv~~~~mO~NMv~~~~m ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

-w
f= ~uo!::o ~If=

m< ,>
>a.

<-

ooomOON~VNVOOW~VNNOVMMo~~omo~~oowmomV~M M NN~mW ~ mwwmo v ~~~~~ ~ w~VmV ~~~vO ~MmWN O~~NW WO~NW vvO W~W 8 NN N~ ~~ ~w WW NO 0 ~ 0 M m~ ~~ NM VV ow ~W WN WW W~~M wOv~ ~~MM WN~O

~
0 a OOON~ aaaaa 0050000000000 aaaaa

0~8~~

88~~8

aaa
00000000

~80

80

aa
..""""'..,'"
"'a "'.., "'I'a'" m.., "'m """

a aa
""" ~

88
000000 aa aaaa

8~

8888

N N aI I'-

-m-wvl'-wmMW "'I'-M""" mval"'M --WMaI "'I'NI'NON

mal-

g ~f8~~l;; '" --00-

~* Nv

~OO~OON~~m~~~M~~~~ONmmO~~OMO~MOON~o~mON ~ ~ ~~~~~N~O~~O~ ~ ~ ~~~OM~~~M~MN m ~ MN~MONm~~OMm ~ ~ ~~M~~~~~OO~O ~~~ ~~~ MMM ~~~ ~M ~~ ~~ ~N ~ ~ ~ a ~O M~ M~ m~ MO ~N ~m OM O~~M N~~~ O~M~ ~OOO m "'0"'00 ~ ~I'-""'I''" """"""'" .."'m"'o.. ~ m..""",~ a ",m",~~ I'oooo~

a a
6 6 66666666666666666666 66 6666

~ M
0 0000000

8~~8g8~~88~8 OO~OOOOOOOOO

~88 000

88 00

~ a

88 00

888888 00 0000

~
Q)
VOOOOO~~NM~OO~WNWMomWNovwo~m~~ooooo~omw ~ ~v~~o ~ mWM~~ v om~vN ~ o~omM MV~~~ W~M~~ ~~~vo ooo~~ W~~ W~O M~W N~~ Ov vN WN o~ WM~m NW~~ ~~VM OOMO M~ om v~ Ov N~MN om~N WMNN 0000
Q) 0 .mOlt)N N~~m. t--~ <Dm ~

?-

~ u >C' [0
Q) t-t-N ~It)MIt)It) Nmt--<D<D MmM~M M~OO~ m~ mN Q)N Mt--

.~

~~i318g

m~

cu
00000000000000 000000

~ 0
6 66666666 66666 66666666666666 666666

~~88~ o~ooo

8885858888

reg88

88

8888

~
~MNooomM~~~~~Moo~~m~o~mvO~~O~OMNOO~OOOMNM~ ~vOOO ~V~vM~mMOOm~~ O~V~ ~~v~~OOv~OOvONv ~MMO vOO~NOO~MNMO~~O ~m~o om~o~~~v~OO~N N~N ~~O mmN OO~N ~m MOO OM ~O 0 ~ ~ ~ ~M v~ ~O 00 MN Nm ~OO O~ MOmN O~O~ OO~vOO 0000

Q)

:;
Q)

'" '"

O)NI'-cx)<O"""

~ ~~~~!D
66666
<O~ "'... "'0 1'-'"

0~0)"'1'-

"'...

0 (.)

g~~8
0000 ~~~~~~~~~~~~~ 0000000000000 ~~~ 000 ~~ 00 ~ 0 ~o 00 00 000000 0000
CX) """~"'<O '" OOOON

8*88~~a888888
6 66

888

88

88

888888~~~~

0) "'1'-<000 ...I'-O)NI'-CX)

~~

~
~ .c

cu
OOO~OOOONM~O~M~~~~O~~~OONO~O~OOO~~O~~~~ ~ ~M~ ~~~~~~ M NON ~~~~MN ~ ~~M ~m~~OM ~ ~~m ~~ON~~ ~O~ ~Mm ~~~ MN~ ..."'CON"'", ..."'~I()CX)~...N '" '" ~ m ~ ~ ~ ~ ~ ~ N~ m~ N~ N~ mN mM ~M ~~ ~M~~ ~N~~ ~~~N ~N~~

...~
0 000000 0000 00

8
0 000000000000 0000 00 0000 6

~
88~ OO~ 8N8888 ~8~ 000 8 ~ 88 888888 0000
0 '" N

'"

N""""'O...CO

CX)I()

ONI()NI() I()CO O"'CO"'~ 00 ",I()...N'" I()'" "'OO~"""CO ON~O'" CO...

U) Q)

66666

66

c -:c
>~ 0
000000000000000000 00 ooomONOON~Nomw~~woom~vo~~oooVWOOVOOWWM~ N 0 ~WN ~~~wm~ m ~ m~~ ~M~O~~ M ~ ~mo ~Vom~~ N N NO~ O~OW~M w~m om~ M~N MW~ ~N m~ m~ ~~ O~Mm ~m~~ ~~~~ ~~~O N~ mN WW M~ ~~NN MNm~ Nm~W O~O~

'" '"

N 0
0 000000000000000000

88~

~~88~8

888

88

~N88

8~
000000

8008
0000

'" M

""""'M~"'M """"'OM""'" 8 ~ ~"'MO'"

"'

~""" "'~M

M) "'M "')

E E

~ :R;:S!~8 '" ~"'O~'" 0 00000

&lID "'... no

B
)(

:=
'C 0 6 6 66666666 66 666 66

>~ 0
0

~oomOOOM~mmMMVmON~om~OOM~O~N~~OOO~O~O~O m ~ ~~v~~m~o M~ ~ ~ m~~~~v~~ O~ ~ 0 ~~m~~vvO ~~ ~ N NM~m~Nmo 00


~NN ~Ov ~Mm ~OO MO m~ om ~N ~NM~ MO~v mMNm ~moo

~v ~~ ~N v~

O~~ ~mm ~O~ O~O

'" '"

"""~a)", ""~a)"""

1'-0 a)C')

888~08~8 0000000000000000000

88

~8~

88

m888
6666

80888
00000

.1; """a)I'-~ ;1;~~~m '" '" O~I'-""'"


66666
a) ~ "'C')"'~~ oC')~~'" 66666666

~~

"' "'0
a)~ I'-a)

0 (.)

E E
WOM~O~VVVOMm~W~ON~O~~OOMNO~O~~OOO~OVOOO W ~~ O~O~WO~~NV 8 ~~OMNV~WV ~~M~m~~v~ vM~NNo~omo

...
W
~ ~ N 00 8

~~ ~M ~M 00

W~ O~ ~v ~O

O~ v~ ~N ~~

~~N~ ONW~ VWVM ~OOO

a a m ~

~ a ~ a

'" '"

"""O"'CO~'" "'~CO"""

~ ...~...",...It) """...It)~ "'...'" '" ~'"

cn
Q) CO)
N~OOooooowmOO~WNm~o~~wom~OVMNOOONmONMNO ~~ W Nv OW ~ M~ WOWW~ m

y
00 0000000000 00
~N WW V W Wv Ov 0 ONv OOOO~

.
8
w~m

~ a

~8 00

a~a88~8888 0000000000

88 00

~a
00

88 00
00 000000

~~88 0000

8
a

8
00

aa

CO '"

It)",~ ~"'It)", O"'OO'"

It)~

COlt)
" """

"
6 66666

66

wmw

~w

N~~
~MO ~OO

~ 00

8 88888888
0000000000000

M~W

NO

~N~

m~o WOO

m~~

MW 00000

~N

V
0

88

~~ 00
~

m
6 66

8~ 00

88
6666666666666

~88

88888 000
00

66

66

666

co O)M~NCO"'M ~ ~~~N'" O)~ N M"' 8 ~ M'" ...~~ MO)...", N ~"'No)N 0)", 0) ~N~N'" ~ 0) """MN... '" 8 N OMOON CO...

00000000

~oo~ooo~~m~~om~mM~o~m~o~~ooVM~oom~oNmoo ~ N V~mN~

MMmM~

oMm

om

vvv~

0 ~

8 0 8

~~~~~ ~88o~ MV~OO 00000 888~8 88888 0000000000000000000

2~~ ~o~ 888

~~ 00 88

~~8~ ~MOO ~~88

aaaaa

aaaaa

aaa

aa

aaaa

~ o~ ~88 o~ 000~ 88888 00000a


~o

N~~

'" I ~ ~ I'~

001'-"'<0 M~I'-~I'-

00 I~

R ~~~a;~

aa

aaa

"'MI'-""" M"'MI~ MI'-"'",I'OMOOM

<01 "'I """ 1'-1

~&J
00000000

~NM.~~~~mO~NM.~~~~mO~NM.~~~~mO~NM.~~~~m ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

-w f=

~uo!::o

C/)< .>

>a. ~I-

<-

f=

87

~NMV~w~mmO~NMv~w~mmO~NMV~w~mmO~NMV~w~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

-w

f=

~()ot:o

(J)< .>
~If=

<>Q.

9
0 N
OOOOOOOMM~MO~V~wo~owmVOV~ONMVWOO~NOM~O~ ~~v~~~OO~~N W~N~~~~NvO~ ~m~~Wm~OW~N ~OM~N~VO~M~ vvO ~~N NNW mWV N~ Mm ~N ~~ ~omw V~W~ vvvN NM~M ~~ Vm ~~ ~M VMmm ~wmm ~O~M MVNO ..."""~""" ~ """"""'"

~ ~'O'8~~ ~~
'" """...coo '" """"'~'" ..."""",...CO ...o~~o~...", "'co "'0 CO'"

""" "'co

888~88~8888
OOONOOOOOOO 00 0000

~88 000
666 66 6666 66 6666

88

~N08 ~ooo

80 00

0888

66666666666

a aaaaa
'"

aa
~O

0>
~
8 m~M M~mO ~~~ V~M ONN ~mo~~~ ~~O Nv N ~~ ~~ ~OONvm N~~ Ov ~ ~~ mV

OOOOOOOOOO~O~~MmVoom~OO~NO~O~NOOM~OMM~V CON ~MMMV~ N~~ N~N~~M Vm~ m~~ ~m ~~ ~ 0 mM ~~ O~ ~m OOMM

'"

"""",(Om ~o8re~ O"'~O~


"'(0

""""""(0

r-r-

~ ~ 00000000000000000 000000 0 0000000

8~~ OON
00

8~8588 000000
~ &'.~(')

~58 000

88 00

~ 0

58

85 ~588 000000

~ ~~~

OJ
~

~ 'u ><
.~
IX)
OOOOOOO~OMv~m~~o~mO~O~ONMONMNMoo~mOO~~N v m~~~~ovO~ ~ ~mN~ONO~~ ~ In~~o~om~~ N v~~~vOIn~O M N m v ~ ~ N v ~m mo Inv O~ ~~~O Mvm~ N~vln M~~v m~ O~ M~ M~ v~m om~ ~m~ M~M

~ 8 0
0 00 00 000

~~~~888~8 o~ooooooo
000000000 000000 00 0 0 00 0000 00 000

c
0

5 0

88

~~58 0000

88

888

~ ~~~~r;; ...""""'~... ~ 1R~;:8'O '" o~~o..."""

0 01

o~"'o... ~""""""

~OI 010

~$ """ ~m

Q)

==
r-~
OOONo~omomvwwmowmmO~~NONMOONwwOONmOOMom
IX> M~v ~vm W~O ~vO M~ N~ m~ NO NO~N m~~~ ~~~~ ~O~O mM mM Mm OW ~mm W~~ M~~ vM~ ~ W M N W M ~ ~ OWNNvMNvW~~ NNMO~MmN~mv mVO~VMmO~~~ OO~~O~vOO~O

Q)

~
8
a
6 666666
0

~ a
a
OOOMOOOOOOO

888~8888808
00000000000 000
00

808 000
00 0000 00 000 ...a~~ N

88

~888 MOOO

80 00

8~8 000

(5 ~1Z~ a mr--m :&~{;;

...CDNm

~NCDaa

r--

a~

.~
C
.Co

~ ~~ C') am~ ~ """ @~

m'"

..u ';:
CD
oooooooo~~m~WW~NOOOOO~ONow~omW~~OOWOOONOO~ ~ 0 NN~~~~m~WON ~ N ~wm~~oom~oowm ~ ~ m~~OO~~ONN~~ ~ ~ NN~~O~~OO~O ~NO N~OO mooo ~~~ ~N ~N m~ NN OONOO ~o~m ~~W~ ~~~O m~ O~ ~W ~~ ~~OO~ ~~~~ ~~~~ ON NO CO ~"'OOltO ..."'COO""" to O~"""tO '" ~"'~O~

~
'" 0 '" 0
6 6666666

"'to"'~O ""'" "'COCOOlCO...OI """"'"""" ""... to 0 to'" 0 "'01


O~ 0'" """ "'to

II) Q) 00000000000 000 00 0000

0 0
6 6 66666666666 666 66 6666 66 6666

~ 0

8~8N~~~8888

808

88

~~88

8~ 00

8808 0000

c >LC) ~ m~v ~Mm ~aw ~m Mv NN ON v~va MMmv wm~w ~~ma vN ~~ 00 a~ vamN ~N~m MN~~ 0000 vaaw~~amavN~NN~Nmmamwvaw~amm~Naa~~a~mvW N ~w~~M~aNMawvw~~~Mwa ~ wNm~~w~~~vv~vMwm v aa~NMN~~vvMNavvw M ~aaa~M~vwvamaa~~

:c
0

E E
0000000000000000 00 00

~ a
6 6666666666666666666666666 666666

~8~88~8~~8~88888

888 000

88

@888 0000

88

0000

8888

a ~;1;~~!n ~ MCD...mN ~ ~~~~g1, N 66666666 N~OOM

0 0>

"'O>MO>O ",m

NO> "'0

~~ "'m ~~

u
:=
~

0
.q
OOOOOOOMm.m"""l'-vmvOVOMII>"'Oll>MO""""'II>OOll>"'Oll>om", ommmmm",moml'II>MII>Ml'-v"'II>v"'m MvI'-I'-Oll>~M"""M vm"""m"'m~oo'" """~ vv~ I'-MO mol'm", "'m mil> OM "'M"'~ Mmvm mvmo Mvm'"

>8~0~0~~88~8 ooooo~ooooo
00
66 66666666666 666

><

'C 0

M'" MI'M'" "'M

M"'~II> mll>ml'mo~~ Mv"'M

E E

~88 000

88

*~88 0000
6666

808888
000000
666666

0> 0 ~ I/) 0> 0 (0 N

a)(oOM~ O>"'(OMI/) (ONI/)MO Na)~~~ a)(O~M~ a)~NO>I'(O~M~O "'~OO~

~O 0>0> ~a) N'" NO 00> I'-M NI'-

000000

00

u ... 0
...t-. m~ M~"'O>"'MO"'t-.1() MI()~...~...~com... ~t-.m m...o>
t-.co O~ "'OM "'0> OMCOO~O>OOt-.M CO 01() "'CO ...~~ O~O

0
~M "'0>

C')

OOOOt-.O>OOCO",I()"'O>~"""M"'OMO>~O"""OO>OO>"'OOCOt-.Ot-.O>"'CO
m
t-.'" O~ co 0

coco t-.
co... ~O

u ~~ MO
oooo~ooooo

0>1() 0 8
~ O~

mt-.t-.1()
mm...'" OMt-.'" ~~O~

'" m

Q)

...a
88
00

~"'...'" ",m"'"""

",...",...a.

(/)
I

88~8&J888~8
666666666666666666

888 000

~ 0

88 00

88
00

8888
0000

0 '" ~ '" 6

",a """~"'aI~'" """""om "'0000 66666

",... """
o

"'...

~
m ~aI "' 66

OJ

66

66

6666

N
~ ...m NM ml'...N ~"'MmOQ)CO",...ml'~NONM~mmMO~ ~~mNQ)mQ)MOl'-Q) OCOO~"'I'-NCO~NN

OOOOONOCOCOOOl'-coo"'m"'oOCOO"'Ol'-"'o~O"'COOOCO~OQ)MI'-M
co N I''" '" N I'~

M~ ~CO 0'" ~N

M co M N

Q)I'N~ MN m~

"'N I'-Q) ON ~N

Q)MMm ",OCO'" mm"'N NN~N

~m o~
oooo~oooooo

88~~~~888~8
66666666666

~ 0
6

8 0
6

00

88
66

~ 0
6

88
00

8~
66

000000

8888
666666

~ 8~M~~ CD ~"'II>"'CXI 8~!Z~:8 ~~oo~


0

C\I

CXlC\I"'CXlC\I"'CD

"'CXlII>"'CXI

m...

~~ C\lM~ fSfS II> M'"


00000 00

66

~ ~

mOO~Mm~~v~~Nmm~om~omv~o~~om~omOO~~ONvN~ 0 ~v~~~NmmMV~M~Nv ~ ~~m~~~~Nmm~m~m~ ~ ~~MNOVM~MNmO~MN 0 OVVMV~o~moooo~~

~NN ~v~ ~~~ O~~

~~ ~M ~O O~

m~M~ NOmO omo~ VV~O

~~ vm VN ~m

O~MO ~mm~ mmV~ OOO~

...""""N'" '" '" "'~o.~'" "'",~a)",


0. "","No. ""a)"""'"

0'" 0 "' 088 88 ~~88 88


00

~ 8888
0000

M
0

808&J88~~~808808
000000000000000000000000

000000000000000000000000

00

0000

~ ~

~16~r::8! "'oo~o
000000

'" 8 "'N

~[C; ",a)
00

~"""""""""'CDO)a~"""""""""'CDO)a~"""""""""'CDO)a~"'", ~~~~~~~~~~""""""""""""""""""""""""""""""

"""...CDO)

-w 1=

(1)<
~oct=o .>

<-

>a. 01-

1=

()

88

~--~ ~ ~--o~()~--0

~-~~
~NMv~w~~mO~NMv~w~~mO~NMv~w~~mO~NMv~w~~m ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

-w

j::

~oot:o

(/)< .>
~~
>a.

<j::

y
ooo~o~oo~~~~~~m~~vom~mo~~o~~~OOO~NO~V~V N m ~~NONNNO~Om
~~V V~ ~~V~ vO ~~m~ v 0 ~~~~~~

0
C') 0 0 8 ~m~~~m~O~mN 8 m~~~~vo~~ NOOvooooo 00000000000000000000 00 N ~ v 0 0 vNmm~o 8 vv~~ o~mm

8
~~~
000

~N~ ~~N N~O

m~ ~~ O~

88
~~~~
~~Ov 0 8888 0000

m~~~ ~o~m ~~N~

ON ~~ ~m

8
~ 6666

N~m~ ~V~O ~vNv

'" '"

"'~"""'" ..."'..."'...

"'0 "'0

66666666666

666

66

6666

66

0 "'~~"'a> """ ~ ~r.;;:~&Jm M~ '" 00000000 0~00

~ ~

"""""""'...a> ...oo"""...a>

0>
(\J
OOOOOOO~O~~OOO~~~MO~O~OOMONO~~OOM~ONMNV ~ ~O 0 VM ~ ~~ ~ ~v 0 ~M ~~~OO~ OO~~~ vmv~~ OOMM~ ~
0 000000000000 000000 ~ vN

88
V
N
0 0 V 00 ~

8
~ ~
~ 8 ~MN 000

00 V M ~

N ~ ~ ~

8
m Nv

~~ ~v N~ OM

8 8
666666 0 0000000

M V m N

M~ ~~ M~ ~~

ON ~~ ~m N~

v~~v ~V~OO ~~O~ om~~

~ M

~ ~
000

...o~coco",...", '" M(O"""""'""", '" '" O~OO""""'" 0(00(00

~8m~~

"'COCOCO "'MCO"""

:3 ~~
~

MCO "'(0

666

666666666666

0)

,..
IX>
C\I
OOOOOOONOM~OON~~~~omowo-~o~O~-OO~Nowmmo ~ ~V ~ ~~ V ~~ M WM 0 Ov ~~O-~ ~-Vm~ NvO-~ N~_~v 0 0000000000-00 6666666666666 66 6666 -M000 666

~ u ><
.~

gg
M
~ 00 --000 OM 000000 g WMW 000

g
-N 66666666

-M ~ m MOON m -NM

NW Mm

g
o M~WW vN

M-N~~OM omwo W-MM

~W Ov ~~ ~O

~omw N_~O W~vW O~W~

co 0 CO /'CO M ~ M

O)lnln/'-ln COM/'-/'-M 1n0).,..,./,MOInMCO ONO)OO /,-O)N"'M OCOMCON ONOOM

MM NO) CO~ CON NM O)CO /'-CO COCO

G)

:;:
G)

u
"(U
00

0
N

l"aaaaaamooaMvmawa~VmamaNaMooa~oooo~aaw~aoovoooo MNavoo~ ~~~oom woom~vN ~oo~v~ v~mmMa mmNv~ vOO~M~v aNN~m N~NV V aa~M a 000000 00000

8
~~
ma ~aa 000 00 00 NN~a 0000

8
a~N w
a a 0000 88

88
M~ ~ ~Mam

oooo~ vaa ~~~ MNN

~w ~oo ~w ~M

WvNW mNv~ ~m~~ WMNW

m~ 000 Wv ~v

8
66 00000000 6666

~moo~ wwma MNNv ~~mm

8
o w '"

o ~ '"

'"
"'w "'OCOO)", m",m~", """ wm "'CO COI'-

~w~

"'

.~ ~ .c

66666666666666666666

m WI'-I'-W'" """'ww,,, 01'-"""0) o~oo

"' m """ 1'-1'-

.G)

(,)

.~
U)
WN a~~~ ~aa N~ N

C\J
aaaaaaaa~~~aammmMaam~~aNMa~~awaaamaaaMa ~M~

to

*~~
~mw~~ 8 Nm~w
8 wW a~ N ~ a~ ~a

m~N 8 ~w 000 00000 000 00 0000 a 00


~ I()

m~~~~
~mm NM~ 0 ~a ~~ ~~~~ N

~~wNm

~~~
000 00 0000 a 00
~
"'~~"'I() oo~""""

Mv~

WN

~~

v~wm

~*~M

~ ~

~M vW

~a

00 m

","OO"'I()~ 00"'","00

~'" mo

8J 8~~;::~
01()"'1()~ o(')oo~

8J8
(')1() ~~

oom

G)

000

00000

I()I()

66666666

c
.-=
It)

>C\I
~~ON~O Nro~NM~ MMvvWm MvOOm~ ~~ ooooooowovoowm~VMVOW~WO~~OOO~OOMWVom~wv m W~ W ~m m ~~ ~ vN ~ ~~

'C 0

E 0 u
0
0000000000000000000 0

E
8 ~~ 00 00000000000000000000000 .. N 0 ow M 00

88
~ M ~~ ro mN

8 8 ~ro 00

mro~ N~~ N~M mMM

88

vro N~ roo row

0 m m ~

~~ NW Nro ~v

mm~ ~N~ WN~ MOO

~mM~ WOvM NmW~ N~mro

~ 0

8
0000

N 0

aI M aI m ~

"MalaI'" ~MOal'" m~~"", o"'omal """'~~ alMmM'" O"'OOM

m~"'mM

""" m~ """ o~'" aiM ~o "aI

om

~"

00000

00

)(

.-=
N
NvNm ~MON ~Mm~ M~M~ W

>..,.
ooooooovmwmOON~~~mov~mo~~OWO~Noovwom~~w

'C 0

E E

~~~~ 0000

g OM mm
V g Nm g a OM ~~~~~ 00000

v~mm~ NNNmm vNMv~ ~OOWN

va g 00 ~o~ a a

~wm ~m~ v~v MWv

vv 00 w~ 00

a ~ ~ W

o~ ~m ~o NN

wm w~ ~M m~

~~ 00

~O ~~

N ~

~ a

~~ 00

~O O~

~~ 00

gm ~

~Nm~ vWOv wmmv ~~m~

'" on '" on

mm"'-Mm cocomono M"'COm~ CO~MO'" CO COCO

coon 0 ~t-"'t-m

~~~~ 0000

N~~N 0000

t-0

t--ooonm om<o",t--

00000000

o~oo'"

on", <om

onon

u
... CO)

0
N
~~MO O~MO ~O~~ vNOO~ 8 mN o~ 0000000000 MM~MO~ ~NOO~v~ o~Vm~m M~O~ 88 0000 N~ 0 ooooooo~oomMOOOM~~~OOON~mv~omO~NOO~NOMN~M ~~O~ OOOmM ~~~v

(,)

cn I
0000
0) CO)

G)

8
N

OOONmNm 88

~ V ~ M N

~~ ~OO mm N~ ~ 0

~~

OvOvNm ~~ ~~ ~~ Ov o~ 00 00

~~

~~Mm mOO~N Nm~m

8
66

mvM OOMO 0000 6666

~ 0> 0>

0> 0""""'0

6666

6666666666666

"'1'-"'""" ~~~~~ 1'-""""'1'"""0>"'0"'0>'" 0""""'",

~"!~~o-:
0000000

0>'" 88 "'0N 1'-1'-

00

~~

C\J C\J
OOOOOOO~ONOONNm~mmO~OMom~omOOOO~N~omov~ .~M Ov

~O
~~Nmmm ~~~vvN

mm

NmmVmO

~M~~~m

N v v

Nm

~v M m

N ~~ v~ 8

mm ~M ~~ vv

v~O m~M ~Mm ~~M

mNN~ ~~m~ ~v~m ~V~M

'"

~~ ~~ ~~
N~ 00 o~ ~~

v~ N~ ~~

N 000000

88

m~
000

~
0

N
0 0

~~
o~ 00

V
m ~

Mv
~o 00

V~O
MON 000

8 0000

v~~ ~oo

000000000000000000000000

'" "' m""" on onlX>"' r-.. ~on 8 '" 0 6 on ~~o~o 66666

mmr-..on ~IX>"'om

8.1i~~m

~8

onon ~ onr-.. r-.. r-..", m "' 66

~ (\J

~m"'oooO()~O()m.o"'(I)oO()"'O()om..oo.OOO~"'OalO"'O.OOal"'.0 alO(l)aI(I) ",mM.'" aI~O() ."""0()0 "'."'.(1) """

OO~

alO ~ooo~

O.

~0()
00000

(l)aI~"'O(l) "'m(l)."'~ "'.O~"'O O(l)OO(l)M

.0 000000

88
000000

mMO "'Mal MM'" M~.

0 000

88
000

"'~

MO M'" (I)'" o~

~ 0 0() 0()

000()0 00

'"
00

.'" m. aI~ (I)~

"'
0

8
00

"'~O mO(). alaIM "'M'"

88
000

alaI.M""". m~(I)o O()."'",.",m ~~OOm",.

'"
M
0 8888~""" 0000 I'm I''" m

000

00

000

0000

~"'...""" m~l'-o~ O)"'Nm", ..."'mNO oom...", ",1l)"'NN o~oo~

...""""'...

aaaaa
-W

ON ~O "'N m... moN "'I'-'" """

m",

a aa
C/)< .> <>a. ~I-

:1:
:1:~ 0:1: ():1:

~o
()

~NMv~w~mmO~NMv~w~mmO~NMv~w~mmO~NMv~w~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

~uo!=o

89

m .-

~ ~

ooooooooo~ooom~oooomoNoovoMONNOO~~OM~~m v~ om Nv ~~ NN ~N ~o ~M Mm vO ~m 88 m~ ~~ v~ M~

I'M ~ ~ M N 0 0 M v 0 N 8 Nm M~ ~M ~M N M N ~ ~v o~ m~ ~M N~ ~~ ~~

"""I'-~'"
o)l'-Q)(Oon 1'-1'~(ONMQ) I'-Q)MI'-I'aaN~M aNaa~

I'-N

~M
~o ~o o~ 00 M ~ V 00 V 000000 o~ov

~m

8
m ~o~m

m~ 8

~~om ~~~N ~~~~ M~~~

~ ~~~21Z
I'on a (0

~~ aa
~ (Dm
""" """ ",m ...'" "'0

00

00

00000000000

000000

a aaaaa
'" 0 """""""'"~... "'0"""'"
8 """","0 0"""'" ~..."'o'" mo","""" ~..."""'"

~N 1'-'" Q)O) MM

~ ><
vooooomv~vNMOOO~N~WOWvWOMoooomN~OO~MNvO~M 0 v~NOOOO~ ~ ~M~~OOv ~ ~MVOO~~ ~ NN~VO~ 00 ~M~M~N OvNm~O~O~ O~~~M~OOOv ~v~vvw~moo mO~OOM~~V ~ ON ~~ N~ ~O M~~N OvMOO ~OOOv ~v~~ NN~NN~v om~m~oo~ vOO~N~~M OOOO~MN~

.~

~
~ 0

...

c
0 000000000000000000000 0000000 0
In I''" '" '" """O>"'~ N""~N'" O~OO~ 0>'" """ """

O~NONO ~OOOOO

0 000000000

88
~N~ NOO ~ 0 N 0 00 0~M mNO 0000 ~ 0 0000000 N~ 00

8 8

88

Q)

...o~oo"'...'" 0 00000 00
0>
g ONI'-O> O>~~O>~ """"0"" 0>0 "'N "'

(D 0 (D m

'u
~~m~o~~~~~~~o~~m~oo~~OO~~ON~~~OONm~~~M~ ~~m~ ~o~m~~~ MM~N M~~O~~~ m~mo m~m~m~~ ~~~O ~o~~~m~ ~o~~m O~~M~ ~NN~~ ~O~~O ~~~ ~~~ M~~ ~O~ ~N ~N ~~ O~ ~~~~ ~M~~ ~N~M ~ONM ~O~MMNm ~~~~~mm O~O~N~~ ONONN~~

==
O>"'aI""~ "'N""O>N 0>0> aI'" ~

Q)

u
.~ .c

~
ONOOOOO 0000

~~~8 ~o~o
0000 000000000000000000000 0000000 6 66666 66

0~88888

88800 00000

888 000

88 00

~808

8888888 0000000

c
ooooooow~mNmOMMOM~OWOOO~WOMO~~OOW~O~~WN
mOMN~ ~~~mw MN~mN ~O~WO ~M N~ N~ O~ MN ~~ W~ ~O M m N ~ W~ O~ N~ ~M ~ ~ ~ ~ ~M ~M mw N~ ~m wm O~ NN OMMW ~N~N ~~~~ mN~8

.Q)

u
'"
0> M

.~ cn
Q)

~8~~8 ~~~~~
00000

"'~O"'<D
"'0>"'1"-'" .1;~:8(;;fi!
8 <D ~

"'...
"'0 c;?~ "'... ~<D
~'" ~~

~8

~~
00 a 00 a 00 00 000

E 0 c >:=
'C 0
8 ~NvMNmo ~ M ~~~vMm NM~MN 0 ~ ~~ ~ mO~MmmM

00

~8 ~~

~ ~

88 ~~

~8 ~ ~~

8~ ~~

8880 ~~~a

'" "'~"' ~"""I"-~ '"


..."'I"-~ ~ o~~o'" 66666666

~O~OOON~MN~OO~O~~vomomOO~O~OM~OOvMvvM~~ ~ 0 Nm~vv~ m ~ om~vm~ v~~O~ OM~~m ~ m m 0 ~N ~N ~ 8

v
N
o~ ~~ vmv~MNM 8 8 N~~~v~m ~MNOM N

E E
N 0 N 0 0

~ N

m m

~~o~mN

0M V~ v~ ~~ 000000000000000000

8
v N ~ 00 v v 0 V N NM 00

88

~~ 8

VM 00000 0000000

N~~

000000000000000000

0000000

~ MalalvM ~ "-N"'COCO M NmmCOal -mo-o'" a "'vmNaI co "'Mv-aI N o~OOv 6 66666

OalmvN

"'aI ~aI vCO mal Mm aiM co"66

v'"

0
oooooov~~~~om~NoMmo~a~oo~oMOMVoovvNm~mN
moN~v ~Nm~~ ~Nm~~ ~~MvV g ~~oo M~NNvm m~~~mm aM~~~M omMNo~ m~Mv

:c
0
v
~ 00 M OO~M 00000 OOOM 000000 0 0

g g
~ M ~ m ~ v M W ~ m MM Nv Mv Nm

><
~ ~ M v 0
~~ 0

>g
vv vm ~o Ov N~

Nmmm~~~ ~OM~MN~ WMm~~mm mvN~~~m W


~

co '" f;J

"'co~"' ~~~r::~::~ oo

"'

'"

gg

WMN
000

E
00000 000000 a
0

...~~OOIn ~N co """""""" In'" """N",,""N

00

00

00

0000000

0000000

N 0

O"'OON 00000

CO... 00

u
... "'O~OOOO"""aI"""O"O""""O"aI"'O"'MO"'O""'OOM"'O"M"'" 0""" ",..""""'m OalM "Malmal'" """'" ~"'maloo ",mm O""'OmM ""'M "'~~""'o "'OM "'000"'0 000 ~OOOOO Mal""'" """""'" O"""M" 0""""0 "' a 00000

0
"'M" """" M..m "'~" a 000 ..'" aI" "'0 OM

u 88 M'"
"'0

m "~m ""'0

m..

Q)

(f)

m
666 6666666666666666666

.
~~~OOO.~~~M~~-M~-~O..NO~OO~oo~o~m~O~~~N ~O~ N.-NO~~~~.-~

"' 88

8~
a 00

~ m

M a

.. 8
a 00

M~

m'" M'" ..m "'0

mM
00 00

~mM'" """aI ~"alO "M~~

888
0000

'" ~ g~~~<D~:g '" o",oo~ "'CO


a

m '" '" 00

..."""

ooocoo... ~"'oo"'~ ~o~"'~ """m...o

mo "'... CO... co~

00'" ~

66

6666

66666

66

~~g
OMO N~O
.OO~NO 000000000000 -0000

~~~~~~~Ngm~~

~M.

~m.mNONNmO~O NM-om8 NOaa ~ 8 ~~~


666666666666666666666666666

re~~
-a 000

--.M~ _ 8

.
'"
~
N 0
0

~~

~~

8 O. N
00

-~M
a

~8
00 00

~-

~~~
MM om~ 8 ~. 00
000

~O~

M.NO

rem~~
O-N~ ~.N0000 0000

~ """"""0 ...COO"""

666

"""'" '" 0"'00 00000


'"
CO ~ CO ./

CO 8

~~~~

~CO ...'" I:::~ "'0"'0 """"'

...~

f;!~

"'0. """ 00
00001'I()

"'0.

OOOOOOOOOOOOOOONOOOOOOOOOOOOOOOOOOOOOOO

1'-1'-

'" a ~ 0

I'-

~ ~

I() '" I() ~ am 0000

'" '" ~

"""

I()I() """ mm

1'-1'"""
mm

~NM~~~~romo~NM~~~~romo~NM~~~~romo~NM~~~~rom ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

~ ~uct:o 90

-W

C/)<
0>

<-

<-'I- ~

>a.

APPENDIX

91

o~
~N~v~~~~ma~N~v~~~~ma~N~v~~~~ma~N~v~~~~m ~~~~~~~~~~NNNNNNNNNN~~~~~~~~~~ l

~ ~-

o~
-0

0
~a~~~a~N~~m~~~~~N~~~~ma~~aa~NMa~N~amN~~ M~N~~~~MM~~~MN~a~~~N~~ ~~NaaMM~~~~~NN~~~~ M~m~~~N~M~~N~~~NM~ ~M~~~m~m~N~~~~~Nm~aM~N N~ 8

0
~~ ~~ ~~ ~~ Nm~a ~~mM ~~N~ MONO ~~~~~~a~ M~~~~~~M ~N~a~Mmm a~Naa~MN

ooooooooo~oooooooooooo

~a ~ ~aa~~aaa aaaaaaaaaMNaaaaaaaaaaa 00

8 88
M~
Ma

~m~ ~~a

~
m~N
000 a

88 8
N
Noaa ~aaa

~~~~~~~~ ~~NN
00 00000000

8 8
~~
a 888

8
~ <o~ ~~

~8 t-.t-.
t ,

mm

00

0000

00000000

0>
mmMOM~VmWONVMVWOONwo~vom~omNMMom~mMmNMM V~mmNMMmWWMm~O~VVvvomo ~~w m~~~w~~NNWN~w~ o~~ m~MmWvOvON~~MV

8
Mmv ~m~
8 ~MVM MOOM ~m ~Nm~ MVmONWMM

8
N~~W v~NN NNm ~mm

Mm NM wm

ONmN

Vmmm~mV~

O)t-.~ COlt>

:;;;:""""'~"""'"

~w~~moo~wmmwvmoo~vowmm

oooooooo~ooooooooooooo
.,;,..: ~ ~
0) IX)
-~m~mN~~~~m~-m-~~~oo~-~a~~a~~~Na~-oo~-m~N w-~moo~~ooa~~~w-oom~a-~mm ~Na~mN~~~m~~~oo-~~w

~88m85~~5~oo~~~88~8885~ oOOVOOOONOOOOOOooooooo
00 0000
00000000

85 00
00000000

~~~5 ~ooo

88~88888

,..
8
~oooo
8 OONNW mam~ --Na-N-W~ aam~ ~~m awoom -~~~

":
~~NNa-NooNaw--waaWNaa~~

~ aa~NW~~W-Nm~a~~~WN

~~

)(

~W

m--a

-~N~

-NW~W-NW

mN~

~~
1'-'"
<0 CO CO'"

"'00 NOM

~ ":0
MCO

~88888g~88~88888~88~8g

~~~~~~~~~~~~~~~~~~~~~~ 0000000-00000000000000 """CO l'-l'8 ~~~~ vNNm

88

~~ 00

~~~~ 0000

~~88

~~~~~~~~ aaaaaaba

88588888

c
/'Nm~mmo~~Nm~~~~Nv~~~mmMo~~ov~~~o~m~~M~~M NOM~OV~~NmmMMMM~MM~Mm~ MVOm~Nm~~~~~NN~~0~

Q)

;
V~0
~~m N~ mM~M oommVm~VOMmmN~NM~~

'(3

8
Ov

Q)
M~OOOONOOOOOOooooooooo

VM~MV~~~V~~~MNOO~MOV~V

~N M~

mVm~

u
00 0000
Q) C/) ... Q)

0
00 0000 00000000aaaaaa~aaaaaaaaaaaaaaa ~"! 00000000

88

~~88

m~mo V~~~

~~mVNmm~

mvm

~::J O~vO~N~~~~~888888~~~8~88~88~88 0'" m~ 88888888 ...0


~Nv

'.;::

c u
8 ONo omro ~OO ow Mo MW ~o-OO ~MV~ --ow WMMo mM~Nom-oW~-~o~W --mow~mm -ovoN~NN

>
to
MmW~W~VWVOO~MMOOMOO-Mo-v-o-vomOOOWONomOOW-NW -WN-MW~WomMo~VM~M~V~WV 8 vomoN~__ooOOOOv~oo~~ WMmVW~o--N~M-~moN WWVNVVV-NVOOW-OOoNmMowroo

"'1<\1

"'OM '"
"'UI "'I 0... MI

~88858~5g8~8g~88~88~88
0000000000-0000000000000000000000000

85
66 6666 66666666

~8~5
":0

85g88888

C/) Q)

66666~6666666666666666

c
,~
'C 0

Q)
Nv~ooa~OOMvv~~aOON~Moov~~vamma~oo~~a~oomvwoow~ vM~WNwaooooa~aVa~N~~WNOOM w~~aMm~moovNoo~~~vm~~~NOO oowamwooMavamvoowvvNaa~Moo ooww~vaa~w~M~oo~a~~~aNav ~m wa ~M Mm wmM~ M~~~ M~Ma oo~m~ NNoom~oooom ~Noo~am~m N~vaoov~~ a~~aaNNv ONM "'OM MCD mM

>~g8~~~~o88~8@~88N88~o8 aaaaaaaaaa~aaaaaaaaaaa
6666~66666666666666666 66
00 0000

E E
6666

88
66666666

~~88

88~88~o8 00000000

...m
CDM m

":0

NCD

u
)(

0
.q
~M~ma~~mVMNmmvaNmNVMNmav~a~M~aa~~~~vmMV ~~~~a~V~NmV~MN~mvmMmma m~m~~N~~~~~~vm~Mmm m~ ~~~~

,~
'C 0

>v~mM~Mmv~mNmMaVvm~ NMN~~~mN~~NMmvaa~Nav~v 8 ~am MN~ ~m mN VM ~M~~ V~M~ vmN~

aa~m~VVN

.,..,.'"
M~Ma~M~N mm~a~~~~ ~~ma~vNN 00000000

~88~88~088~~0~88~88~8~ 0000000000000000000000
ooo~oooooooooooooooooo 00

80 00

m~oo 0000
0000

88~88888
00000000

"'.,. t'-'"
":6
NOO

00'" 000

.1;~

E E
0u

u ~~~880m888~80~88~88~08
000000000000000000000000000000000000

VMMV~mVNWMOOOMVOO~NOWOOM

cn
I

Q) 66~6666666666666666666

80
66

~~oo
6666

88088888
66666666

0)

M
(\J
V~~W~M~M~w~vmNmW~W~~Nwa~va~~NMaM~WV~V~~ ~Mv~~a~mmM~~WMaNv~a~a~ N~m~~~NM~WMN~wamN~
vMN~a~~a~w~mmM~~~W ~~~~~~vv~wa~NNaavNaVN~

av~
m~v

mm
N~ ~N

~~

~N~N

~~NW
M~~v aaNN

aWM~~aWN

w~~

8 a~m aavaaaaa

~~~~ v~v~

~N~888~88o~88o88~88o88 a~aaaaNaaaaaaaaaaaaaaa
a~aaaaaaaaaaaaaaaaaaaa

88
00

~o88
00
0000

0000

00000000

88888888
00000000

~M~~N~~~OOV~~~~~~M~OO~O~OO~M~~O~N~~~M~V ~~MM~O~M~V~~~~~~~~OOV~ ~~

~88888o88o~88888~88888 ~ooooooooooooooooooooo ~ooooooooooooooooooooo

M~~~~V~~v~~~ov~ ~~ M~~~V~~V~~~~~~~ ~~~MOOV~~~~~OMOO~OO~NN

v~ ~V~

88 00 00

~~ N~ ~N

~N

~v~v ~N~ MMO~ ~VN 8 ~NV~ V~V~ ~~MN OO~OOOOO ~888 88888888 0000 00000000 000000000000
~~~M M~~~V~MO

~
~o~

~NM~~~~mmO~NM~~~~mmO~NM~~~~mmO~NM~~~~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM l

93

N<o'"

~VooN

o~vm

~N~

Wv

~N

ON~

~~OVM~vN~VmM~NMMO~

...
m~mVNVN~~~~MmOMwmMO~O~OMNovmo~o~~~o~~mo MO~OWOOO~MVmONWOOmNNOOvv ~mwOmv~OOmN~NmNmW~~

CO)

0
~mv

W~

N~ ~O

~ v~ mv~o

omoooo

WVMVV~Mm

m~0 O~vO~N~~

~;: ...'" "'... "'... ...m


":0

mmC\l """C\I

(Q<D~ ~

...~
~<D "'0) ":0
~N

N~ N'"

..."'CO) """ o~"'..."'...~m"'... ":0

~"""

~o88~8~~o~~o~~88~88~oo OOOOOOOOOONOOOOOOOOOOO
00000000

mNNVwmm~V~om~MVNmV~~~~o~wo~m~~ovmmmmmm~ VNm~mV~VmMMM~VmMON~mmN vw~wm~~w~~~~~vN~wm mmom~~O~V~~mMmmvNN ~Nmmmm~~O~MWOmONm~ONm~ 8 ~0~ ~mm

o~ 00
00 0000 00000000

~w ~m ~m ~M

g~8~ ~OOO

~WN~ mowv MVmN V~mM

~mm~Vwmm mv~~wowm v~~ON~W~ OV~O~O~~

88~8oo88

OOOOOOOOOOOOOOOOOOO~OO

""...~ In"" In In "'... """" NIn ~q

Oln'"

~~MN~~m~~~M~~mNm~~Mo~mommo~~m~oN~ommm~o
mmMN~~~m~~~~~~m~~m~~~m ~o~No~NONM~Nm~mmM~~~~~
~N~ 8 M 88

~~ ~~

mmmo O

~~~~~~~mN~m~N~~~MMoo~o oMmmm~~mm~mMNoo~o~oMN~

00

oooooooooooooooooo~ooo

00

00

0000

0000

00000000

00000000

00

...
0')

~ >< '0:
~maNa~MMm~m~~~MaVm~~NNam~amN~~aV~V~~~~m N~~~MamM~~~M~V~a~NvN~a ~NNM~~M~~Mavvm~~~~ a~~vaNv~~m~~~~VMa~ a~M~~V~MMV~~~~a~NNa~~~ 8 ~~~ va~ ~~ m~ ~~ M~ vN~~ ~~Ma v~~~ ~~~N ~~aMam~~ mm~~~~~~ Nv~a~NM~ aV~aa~M~

CO

~888~8~08~~~~~88~88~88 aaaaaaaaaa~aaaaaaaaaaa
00000000

80 00
66 6666 66666666

g~~o 0000
",Q) ~a

88~88888

~
m~mMWWNmONNvm~MwmNmOO~OV~O~OM~OWWWMOVWV M~~MM~~Mm~W~MwmWNNv~m~ N vw~vomwMm0 v ~OmN~O~OO~ ~wmW~~~OMO~VmOOom~o~m~ VVwm~mmo ""M~ ~~w 8 ~NNm """ Nm~ ~~WW ~O) O~mOOWMM~o8~8~~~88go8~88~88oo8 t--.o O~ g8~8gg88 ~.., "'0)

66666666666666666~6666

:;:
Q)
OMv~~ mM~M~ ~~~ m~~

Q)

'(3

u
Q) (/) -Q) > OOOOOOOOOOMOOOOOOOOOOO

8 gg 00
0000 00000000 vm NM ~W WmNO Nm~W ~MOW

8 ~~o8
6666
"::6

8
66 66666666

m~

M~Nv

6666666666666666~66666

~
8 ~m~~m~V~~~OO~WN~Wm ~~v~N~OOOm~WWWN~~NNOOO~~ ~~v mwm

~ u
~~m~mm~~voowvOOWOO~~WO~OOOvOOWOOv~O~v~~v~mo ~~vm~~WOON~~WmmNmV~VV~N ovoo~~00~~oomoo~w~~~00 mN ~~WV
mm~~ ~NOOOO 000000

~~~N~~N~

Q)

Q)

ooooooooooooooo~oooooo

~WNNNooo~vm~0000 ~ a N~~OO~~~OO~WOO~O OOOOOOOOOOOO~OOOOOOOOO ~~~ 000 00 ~ a

88
00
~m~ woo 0000

8
0000
o v a a 00000000

000 mN ~~

8 88888
00000000

OOv~~NVNO VN~OO~V~ O~VONW~N

:c 0
~~~~~~~~m~~NNm~~~~N~m~o~No~o~~oomNoN~mo N~~m~~~~~~~~~~~NMmN~M~ ~Mm~~M~~MM~0~m~M~~

>8 mOO
MM
8 NN N~ ~~~~ O~~OOM~~ ~MN~ M~~

~N

Nm~~

~MN~

m~~~~NOM

~~M

~~~ mo~m

mN~M~~~~~Nm~~~N~~N N~~~~O~~M~~m~~O~MMOO~m

~~~

E E

u
>:c
~~m~VM~VOOOOV~OOOM~OM~~MVO~~OvOONMOMmM~~~~OO M~N~~~OO~m~VO~NM~Om~M~~ Nvm~m~~~~OOMMm~N~~v 8
OM~

oooooooooooooo~ooooooo

~000~~~~~~~8g~88~88888 oo~ooooooooooooooooooo
00

88
00
0000

~~08
0000

88088888
00000000

00000000

mN~ OO~ v~
VM MN

><
mvNOO OOOOv~
~~~N ~omo

M~MOOmNOO~ mOO0 8
MNv OVOOVOOV~

0
0 ovOOOOO~OMN OOOOOOOOOOOO~OOOOOOOOO 00

E
OOOOOOOOOOOOO~OOOOOOOO 00

E
M ~ 00 ~ ~ 0

~VmM~OO~~~o~mV~oom~~ NMN~OON~~~Mm~mm~ONvO~~O M

mNMM ~v~N

88
v

MONN~oo~~Nvm

88

88

~M~~ ~NOO 0000

88
0000

M 0 00000000

88888

00000000

Co)

-w~~~mwm~m~~~wm~~Nm~~~~o~womN~moNo~~mw~o

cn .
0') oooo~ooooooo~ooooooooo

Q)

~~~~~~~~~~m~w~~;828~~~ N~~~NmW~~W~~m~O~WWONm~ g880~~888~~8~g88~88888


666666666666"':66666666666666666666666

~~OO~NON~~O~mN~O~~~~N~

~~ ~m 88
00

~N

~~~~ m~~~ ~~~8


0000

W~N~

~~~8~~~~ ONNO~O~~ 88888088


00000000

~~~m~mm~

aM~~m~~oooo~w~~a~~mOOvOOMva~ooaa~~Wa~Naooa~mN Mm~v~ooMaN~amMW~v~a~ma~ ~waooW~~~~~N~aMa~ooN ~MMv~~OOMNw~a~~NMvOO M~~vwooa~aNmwaNOON~waNOON ~aavv~w~Noow

a~v ~~~

ooooooooooo~oooooooooo

aaaaamaaamv aaaaa~aaaa~Naaaaaaaaaa

~a ~~

88

a N

88

a ~

~ a

~M ~N v~ ~~

00

~ a

m~~w a~wm ~MOO~ ~OOWM

vNvMMWMa ~~v~~oooo vmMavMm

00

WMN~ maaa 0000

avooa~~M~ 8g v g

0000

a 00000000

aaa 000

g
00000000

~~mMVV~aVaWV~aMooV~~W~Na~~a~vVNa~w~~~oo~v aN~a~oo~aN~MNaaMV~M~oo~N Nvmv~WWNvaNNmNwmM


~~mammWvaoo~MvooNNN MNvM~~NWMNooooMwaaNNa~Moo

88

wvm
OO~M

~~

~a
mM ~v

aa~a

aN~~
Mvma ~mmv

~WMVaooNa

aNN

8 MaV aNva~N~N

amM~ Na~a

~~8888~~8~288888~88888
aaaaaaaaaa~aaaaaaaaaaa
0000000000000000000000

88
00

~888
00
0000

88888888
0000
00000000

00000000

94

"'"CO""""

~~mLO"'~

000

mooo

00

o~

~~OO~

M~ N O~ ooooooooooNooooooooooo

88
~~~m0 ~0 ~N ~ ~~N~

8 ~O
OJ'"""

88

~~ ~M

M m~m~

8
~~
8 ~m N~~ oMoo~o~N ~~mm NmNM

~~~m~N~m

(0.,.",
MJ'-~

~~N

~g .,.'" "'CD

~o

~O

"""'" ~~

C\J"'~

o'"
C\JC\J ~'"

"""..,

1'-0 an """~ I'-~ "'0


~an

m~ ~~

Nm'" mMN m".

gj~ ~~

Nr-".m
~O

.'"

O~

.-"0

~:

I()"'~

"'o~

~~
"'mIX) (OM 8

I()C') "'I'-

~~

...'"
mM Mm ~~ ~~

CO'""" """M

~m COal

og """
":0

~-~~ o~
NMv~w~mmO~NMv~w~mmO~NMv~w~mmO~NMV~w~mm ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

Uo --U
0
C') ~wwww~m~m~~""N~""~~Nm~~""OWMOM""MMOWMNmmm~~ ~~m""M~O~MMmNmNM~W~mm~w

WMWWmM ""M~
8 o M~"" ~W NMMO m..w mm M wN N

mm~~N~m~~m m~ Mm ~~~

MN

ON~""M~m~

MOWNWmM~~m~~~NMMM~

","m,," """'" "'Il} CO"" m", ~'"


oU)

~88~~~~~~~Mm~~88~88~~a
000000000000000000000000000000000000

m~m""N~mmOOM~~M~MN""O~Nm

8~
00 ":0 aaa~ 00000000
,,"m

NM

M~~~

MMm~

88~88a8a

OW~ONM~N

0000000000000000000000

m
N m"'MmO~OOWWwwWOVm~WMMmmOO

w"'oom~oo~VV"'OO~M"""OW~VMm~ommo"'~omo~v"'mw",v'" OM

~8o~8o~~8~m88~88~88~8o 000000000000000000000000000000000000

vOO~m"'OO~MWmM~VW~VWOOO"'WO

8~
00 OO~O 00000000

Mm

~88~
~m Ma>

~MvOO

88~88~8~
"':0

ovwo~"'m'"

.0)

00 00

0000000000000000000000

~
8oo~8o8~8~;1;88~88$88~8~ 0000000000000000000000
6666666666666666666666 66 6~66 66666666

c Q) 'u

00 C\J
w~wm~~mMNmmW~NMWMw~o~~omoomM~OO~O~NmVNO M~~~MmV~~VMO~m~m~Wo~mo ~~~N~M~~~mWovmv~ ~NmMmv~~~~mm~w~o ~OV~N~~~mWN~~mmMO~OmVm 8 ~w~NV MOm~m ~V ~N WO NW ~~NN ~mNm NO~~ mmw~ WWmmM~WO W~~O~~W~ Ov~~mo~~ ~MOO~NvN

>< .~

cu

8~ 00
":0

~~~~ o~oo

8~~88~~~ 00000000

; r-C\/
N~~ 000 88

Q)

0 (,.)

~~~~W~~N~~~ON~~~~O~M~MON~O~~NMO~~~~~~O~ M~~~~NW~~~WO~m~~W~WO~N NM~O~~~~N~M~N~NW~W~WM~ M~O~~~~N~M~M~N~N~~O~~O mOW~~MWm~M~~O~MM~~O~~W ~~~N Nw~N~~~~w

8
MN 00 ~~N M~ wm~o 0000

88
00 ~OOO
00000000

8
00000000
0 MN~~ 00 ~OO

mm ~m ~M ~m ~~mOWNNM 88 ~

~M~O ~~NM ~NM~ O~Mm

~m~~wwom M~ON~ON~ N~~ON~M~

Q) (/) -Q) >

OOOOOOOOOOOOOOOO~OOOOO

0000000000000000000000

.2
wM~~
8 OO~~~OMOm~~ O~ ~~~~ ~~~W ~~~N~~~~ ~~~NWW~M

c
CD C\J
m~~~~NNmoNmMM~N~~W~W~~o~oomNo~o~w~~m~~~ OMM~~~~O~~m~~~mNM~~M~O ~m~~0

8
~~~~WWN~~WO
W~o~w~m

8
M0
NN~WOW~M

OM~~~

m~~~

(/)
~~WN~~N~WNM~~~~M~mOOmN ~~NW~MmNWW~~M~MO~W

Q)

OOOoooooom~OOOONW~ 0000000000000000000000

8
~~~
~OO NN ~~om ONOOOOO

~0
~ 00000000

OOON~~N

8
NM~ON~NW

N~mM
~O 8

88
m ~w

88

c
.~
'C 0 C\J
~V N~~~ Mv~mm~~~ o~~mNm~MmNo~mv~~~~~~MOO~~OO~~OO~M~~~~mm ~~~M~O~Nm~~NMm~O~m~NOM ~~vM~~vo 8 ~N~~~mo~v~m~~

Q)

0000000000000000000000

OO~OOOO

00000000

>LC> ~m~vv~Ov ~M~Omm~MV~OM~OO~mMO~m~ N ~ NN V~mNNmN~~OmMV m~ ~N NM Nmvv v~vO ~N~~ mmmN~M~M ~m~O~~~M V~mOMNNM

0 (,.)
66666666666666666666666': 6666 >< .~ 'C 0
C\I OOOOOOOOOO~OOOOOOOOOOO

E E
a a 00 0000000000000000000000

88 8
oM NM N~ 00 ~m 00 00000000 NM O~ 00 mN~M vO~O 0000

88 8
v M 66666666 ~ a

88 8

88

88

88

N~M 000

>-v
m~m~~~~~NmM~MNM~mN~M~oom~oM~~mo~N~mmM~~ ~~~M~m~~O~~NO~~~m~M~~~ ~~mm~m~~M~~N~M~NO~M~mN ~~~~~~~~~Nmmm~m~~NOM~m OOm~~~Nm~N~N~~~~m~o~~~ N 0~

u
u Q) cn
I
~o~o O~OOvW~oo ~~

6666666666666666666666

~6

00

0000

6666

66666666

C') (\I v~oo~~owm~voooo~w~~ov~mowm~ooomv~momv~~v~ov OOOW~OOOv~O~~~~w~oo~mOOOO~Nm~ OWWWmON~WOOOm~~oo~m~~m~~WWN WvOOWvv~ON~mOOOOO~~~~NOW~vo ~~~~mvNmm~Nm~V~~OWO~NmVWW v~N~ vm~oo~~oN~

-8
om
00

8 88

vN

w
~

~
N

~m~~ NO~~ ~m~~ W~~O

O~N~v~~m ~Nv~~m~o ~ONOO~N~

0)

M
OOOOOOOOOOOOOOOOOOOOOO~OO

0000000000000000000000000

~~m~ OOO~
~~OW

~m 00000000
00

o~mo~~~m 8

88

0000

00000000

C\I C\I
m~W~Mvm~v~mNm~M~w~aw~ma~ma~~~~aMmNmaaNm MvaM~m~ww~vwm~amMmVmN~ wv~~~aw~mMvNmNavav~~vv m~Nmwmw~aaaN~wm~m~~vaw ~wNmw~~~~~mw~mNm~~aMma v~v~~~M~~~m~va

ooooooooooooooooooooo~

aaaaaaaaaa~aaaaaaaaaaa

00

00

Noaa

0000

00000000

00000000

~~~WNm~awm~aw~a~~~~W~Ma~~a~~M~aa~M~~~a~ w~~~~w~~awmwaaN~~~Mm~~ ~wm~N~a~Nm~M~Nm~~~

~M

~~~~

mm~wMa~~

~~m~~~~mN~~~wM~aM~ N~M~N~~~~~N~w~a~wwa~am

NM~ ~~~

mm ~~ ~N

~MW~ ~N~N ~~mM

~~W~N~~W N~~aNa~N ~~~aM~NM

~~~8~8~go~go~~88~88go8 ~a~aaaNaaa~aaaaaaaaaaa

~~ 00
00

2~8o 0000
0000

88~88888

00000000oooooooooooooooooooo~o ~"! 00000000

~ ~-o~ ()~ --0 ()

~NMv~~~~mO~NMv~~~~mO~NMv~~~~mO~NMv~~~~m ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM l

95

~~OON

a~aa

88

wN
Ma

8
~aa

a~v
ON

m~ NN wm ~~

oo~
Na~a

mmoo~ ~~~~ ~vmN ~~moo

~oow~
MaN

Mv~~m~WM www~m~aa ~N~a~VOOM mVwa~~M~

vWV

NNNM

0000

am

~OON

~~

000

O~

OOOON~OOO

~o

E E

8 8 NN
~~~ ~M

~mmN~mN~~

88

~m ~M MO ~M

~m~~ M~~O m~~m m~mm

O~~M

~~~~ON~~ mo~~~~~~ ~~mN~mMN O~MOM~~N

~0 00000000

~~v m~o

",

~OO

VOOv

OO"""M

~OO

W~~WWM"'~~"""OOVV~M""""'~m'"
01"-

Wv
a>a>

"'OOOW

"'M~~

"'M

omvo~o~~ ", m",

~v'" "'~

"'Ma>

00

OOOON~OOO

~OOVm"'M~WWWOOmmVw~Vo"'~V

"""0 """'" """ """ """


~i8 ..m

"""...
m~", "'... ~8 Mm
m... ~...

0000

":0

M""" "'I'-~ ~~
coO> 0>1'a> 0>

~r::

"'..,.., 0

..,..,'" "..,
0.alO Nal

":0

~~

O~<D "'O~

~~ ~~
~~

~CX)

"""" "It)
~m cn~

am

~"! ~~

~8

"'aim "'v ...'"


<D~ "'~ ~~

NaaaaaV~aMmaaM

~'-:

NaI'"

~~ ~a ~~

co I'-.

~~ ~
000
~

c
~N~MMM~MMNNN

vV~~~mMo~~~~mM~V~~~~o~m~omNNN~~MN~~VM~~ ~ ~~ ~~ ~ ~MN MMNMNNNNM

a:
u.
~ci~~~ci~~ci~Mci~cicici~ciciciciciciciciciNcicicicicicicicicicicici
-J
~~~m~mNm~MNm~mmM~mNmmaN~aV~Na~v~~~mM~mN aMam~N~Nm~~~~~aa~~vaN~~a~m~~vamaVm~~vmM m~~N~m~Mm~~mmmmN~~~MVm~~~~~Vm~~~mM~MV~M MV~~~~mNvmMaaa~mM~~~~NvNmmm~~MmNvNMVNmm ~N~vNM~~Nmav~Nm~~Ma~~vm~mm~~~~m~~NNm~m~ ~~~~a~~N~M0MMm~~mm~amamaNvammNv~m~~~~a~ ~maaammam~~mam~~M~~m~~~~m~vm~m~~~m~~~~~

<0

~O~~OMmm~~~mO~~ONm~~MNN~~O~ONNO~MO~MN~~ om~~mo~M~o~N~mNmNm~ mN~~~~m~MmM~NNm~O,,",m ~~mm~~~~NN~~~~mmoo~~~m~moommmOO~~Mm~~mN

8
mo~~~
8 N~~~~ ~~~N ~m~Nm~oo ~Nm~~~~m

~~MNM~m~~mM~~~N~~N~N~M~~~ mmM~~~~~O~~MmN~~M~O~~m~m~

8 8
~~~~ MMm~ ON OM
O~O~ m~o Nmm 8

8
Nm~ ~~~

~ ~
0)

N~~~~~N~~N~~~~~~N~~~~~~~~~M~~~~~~~~~~~~
m
C') 0~N~ MOM~~~~~~~ ~ooo O~OO~NOOOO OOOOOOOOO~~OOOOO~OOOOO o~~~m~N~O~~M~~O~Mm~~~mo~oom~Noo~~m~~~m~ ~m~oo~~~~~~~M~OOmmmMNm MOWN~NmOM~NMMmNN~OOm~~ WW~N~N~~MW~~Om~MN~Om~~

~~~~~Mm~~Mm~~~O~~OONOOOONO~~N~OOO~

~
W~ ~o ~O ~O~~ N~M~ NO~O

~ 0000000000000000000000 00 0000 OOOOOOO~

.~ m

8
m~ ~O w~ ~O 00 'otCC~"! O~ ~w 00000000 ~NWN O~O~ ~~~ MOO N~ ON 00 ~ m ~
0)1"1"-1/)

)(

8
OMMO~~~m 8 8

m~NW~~~~ ~m~~~mNN

c
IX)
CO) """"""
88 00000000 oooooo~o "'~o~ ~ooooo~ooooooooooooooo 000000000000000000000000 0000 o",m",~'" 00 "'00000 00 00 ~"'oo ~ooo ~ 88 "'~~ 000

Q)
o"."""""""""om""""."', mo""""'"""o"""""""'~o"'om"'m"'o "'~~",~o""""""""""'~"""m"""m...~ "',..~m"""o"""o""""',..o mm"",.~..."""""..""" "'0 """ "'... "'". """""" """"'~ """0... "'m",... "'o"",. ,..~"",.~..."",. "'~"'~"""...moo""""""""" o"""o...m"'o

'u
;
Q) '$~ ,..~

8 ~~~"'0"'

8 ~"' 88 "'~"""~

..
c
C') ~MO~Nm~~~Mm~~NO~~MO~N~ ~~N 88 ONOOOMO ~0~~~~~ 8 M ~~~ ~O~ M~ Mm ~~

Q) (/)

>
t-..
o~~mmm~mmNO~N~~~m~~~~~OM~o~~~momM~ON~m~ 0~~~mNo~~0~~Nmm~~m ~~NO~m~~Om~~~M~~Mm

Q)

.~

~~N 000000000000000000000000 ~~

8
0

88
~~

~o

8
00 ~ 0 0~~~~~~~~~~~~~~~~~~~~~~ 88888 ~OOOOOOO 06666~66 ~~ O~N~ NOOO ~~~~ 0000

~m 8

m~~~ M~O~ m~~~ O~~OM~NM 88 ~

~~o~~~m~ N~~Om~m~

"in
Q)

E
Q) <D
~M~NNN~N~M~MM~~Om~O~NM ~~

Q .-= "C 0

~8gg88~g8~~88~88~88~88
000000000000000000000000 ~~~~ 0000 00000000 oooo~ooo

88

reo~8

~..."'... 88~8o888~o~~~~~~~~~~~~~~~~~~~~ ~...":0

E
C')
~NM~N~~mmm~~~m~N~~O~~N ~~ M~ ~M~N ~~~.

0CJ
~~~~mNO~~N~~NNN~~~mmmmO~~O~N~~OO~~~~N~~ ~~~~mO~O~~~Mm~M~m~~~~~ MO NNO~
~~M~ ~~m~N~~~ ~m~mM~~~~N~O~mMMN~O~~m

~~M~

)(

.-=
"C
0 '.r
CO) vNvmVVMWVm~m~mMM~NO~ ~OMWmMmmm~mWNVVVmOOWOM w~~W ~WM~~0~N~~MM~ 0000 ooooo~oO~Oovo ooooooooo~oooooooooooo m

>000000000000000000000000 0000

~~~888g~8~~o8888re88~8~ 000000000000000000000000000000000000

88

~~~~

88888~oo
ooo~oooo

E E

.. 8
~
0 0

0CJ

mvmm~mM~mNm~ww~mm~M~w~ow~o~mM~ovVN~VM~N mNMNm~m~mW~mMOmvOM~m

8
m
00

8 8
v
O~ WN

~~ ~
~

Wm~M mm~N

O~mN ~MMm
~o~~ 0000

M~MmW~~M

v~oomwmo
MNWNWNmM 8 ~m 88 o~ 00000000

Q) (/)
I C') C') O~M~vWOOMWWOO~OO~NOON~vOO~Ov~ON~WOO~WNMM~NM

u
mm~M~OOOOWMMOOmMM~VMM
~m~N~~W~MNMMNOO~OMN oomOOVVmmMm~NMOO~~W~MO~~OO 8 MOON ~vW

000000000000000000000000

0000

oo~ooooo

0) CO)

~RJ~o88~8o~~o8~88M~8~88 OOOOOONOOOOOOOOOOOOOOO 000000000000000000000000

8~ 00

~~ N~ MN

~~~o 0000 0000

~oooom MWON ~OO~W

8~~8888~ 00000000 o~oooooo

MOOv~v~mw MM~O~OOWOO Ov~O~WMM

N
C')

~~~8a88~~g~~~Ma~~~8~8~ ooooooooo~oooooooooooo
cicicicicicicicicicicicicicicicicicicicicici

oom~Noo~mooo~o~o~NV~MOO~O~~o~v~mo~vmoovoom O~OON~m~NVMMVmOOVN~~MOOOO~ ~~O~N~mOO~OOVMMMV~mO~NOO Vm~~~mO~~~~~N~O~~NOm~OO

8~ 00
cici

OON V~ ~O

~8~~ 0000
cicicici

O~MM N~~~ M~m~

8~~8~~~~ 00000000
~cicicicicicici

mMN~~~ON N~NOOOOO~~ NNMO~~VO

c;;
OOvv~ONmO~~OOvNW~~v~ ~OO~~~NNOOWWNWO~OO

~N~N~~N~OOOONo~m~wmvo~~oo~voo~oooom~~~woomw ~OvNOO~OOOOO~~vN~NWOOO

NON
OOON W~~

~v
W~ O~

VNN0
~Nmm Nm~OOOOvOOOOO

8 888 000
000

V~~
O~~

VV~ NW~N

888~8888~5~~~~8~58 ooooooooooooooo~oo
000000000000000000

88 00
00

~888888888888
aaaa~aaaaaaaa
0000000000000

~~
~~ o aO y
~ N M V ~ W ~ m m 0

~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

N M V

~ W ~

m m 0

N M V

~ W ~

m m 0

N M V ~

W ~

96
Ii)

O~NO

~M~N

~~M

~~v~

vm

~v~

vom~O~~~~N~N~~mN~~

>-

C')

~~No~~~~mO~O~M~V~~NMvoom~O~MNMo~~m~~mNN ~m~~~~00MNMmM~NMOv

8
~~N ~~ N~ ~N~m Nv~~ M~~ ON~OmM~~

~NO ~~~

~
0

88

m m

~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM

o~

~NM.~~~mmO~NM.~~~mmO~NM.~~~mmO~NM.~~~mm

~~

I"-'otM

:R~~
~co

"""0

"on", "'~ "" "'0

~~ ~~

a~~

M~M

"""

monm

Mal

1;J~C\I ~m ":0
vM

I'-O)M

~&1N
NO MM ""0) ":0

"'0)

1%)"'", ~~~

~~ ~~

N~

...""" "'...
~I()~ COM

~;1;
"'0) "':0

~"'O>

"'...'" ...~
NO>

13ffi ~...

":0

DIX 6
COMMODITY x COMMODITY EXTENDED TECHNICAL COEFFICIENT MATRIX, 1988

97

APPEN 40-SECTOR

~NM.~w~mmO~NM.~w~mmO~NM.~w~mmO~NM.~w~mmo ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM.

i=~!::

-,>

(J) <Q. ~Ii=

ooomooN~~N~oom~~NNo~MMo~~omo~~oommom~~M~ M NN~mm ~ mwwmo ~ ~~~~~ ~ m~~m~ ~~~~o ~MmmN O~~NW mo~Nm NN N~ 0) V ~~o m~~ 8 ~~ ~w WW NO 0 ~ 0 M m~ ~~ NM ~~ om ~m mN WW m~~MN mo~~~ ~~MMW WN~OW

(I)

v
II)

O)v
11)11) 0)11)

~'"
11)0 11)11)

v'"

",II)

~ 0

a
66666 co "'co co~ ~

0~8~~ OOON~

aaaaa

888~8 0000000000000

~80

80

88

aaaaa

aaa

aa

aa

8~ 00

aa

8888~ OOOON

V
~a) a)~

~'" o~

",II)

aaaaa

a;

-0

~OO~OON~~mwm~M~~v~ONmmOv~OMO~MOON~ommONV m ~ ~WvWWN~OWWOv V ~ mW~OMWm~M~MN m ~ MN~MONm~~OMm ~ ~ WmMVWmVWOo~o ~~~ vvW MMM Vmm ~M ~V ~~ ~N V ~ ~ 0 mo M~ M~ m~ MO ~N ~m OM O~~MV N~~~m O~MWW ~ooom

'"

~
'" '"
66666

0
0 00 00 00

~ M
6 66666666666666666666 6666666

8~~8~8~~88~8 oo~ooooooooo
00

~8~ 000

88

~ 0

88

88

8888~ OOOON

6
~ ~ Q)
?-

r-- """ ..."'~ 00

~~

"'0

"'0

~gJ 0<c "'N ~'"

0<C

~ 'u .~ cu
M ~'" "'(0

><

vOOOOO~~NM~oomWNWMomWNovwomm~~ooooo~omw~ ~ ~v~~O ~ mWMm~ v om~vN ~ o~omM MV~~~ W~M~~ ~~~vo ooom~ W~~ W~O Mmw N~~ Ov VN WN o~ WM~m Nwmm ~mvM COMO M~ om v~ Ov N~MN~ om~NN WMNNM OOOOv

~ ~~ ~g
~ '" N(O M~~"" (OQ)

0 Q)

'" NO>

"'0> O>~

~ 0
00000000000000
(0 MO OM

~~88~ o~ooo
00000 00000 000 00 0000 00 00000 00000

88858588

88

re~88

88 00

8888~ OOOOM

c
~MNooomM~~~~~Moo~~m~o~mvO~~O~OMNOO~OOOMNM~~ ~vOOO ~v~vM~mMOOm~~ O~~~ ~~v~~OOv~OOvONv ~MMO vOO~NOO~MNMO~~O ~m~o om~o~~~v~OO~N N~N ~~O mmN OO~N ~m MOO OM ~O a ~ ~ ~ ~M v~ ~O 00 MN Nm ~OO O~ MomNOO O~O~M OO~~OOO OOOO~

Q)

:=
~~~8
N~OO o~ooooooooooo 000 00 00 00 moooo

Q)

u
6666 666666666666666666666 66666661 00000

8~88~~D888888

888

88

~ a

88

88

8888~ OOOOM

~ r;:~ """00'"
~...'" '" ",Q)

~ mQ) ...0"""'"

Q)Q)

~O

"(ij

'c
.c u OOO~OOOONM~O~M~~~.O~~~OONO~O~OOO~.O.~~~~ ~ ~M~ ~~~.~~ ~O~ ~
1
m ~ ~ ~ ~ ~ m~ N. N~ mM ~M ~. ~N~.~ ~~.NN ~N~~~

u
~ N~ mN ~M.~~
M ~ .~~m NON .~M .~~.MN ~m~.OM ~~ON~~ .Mm ~~~ MN~

M"'O> '"
0> a)

""""'0>

t'C
Q)

Q)

~ ~~ ~~
OM M O>~ V'" MM """ ~O
00 O~

0>'"

5 0
6 666 000000 666666 666 66666 0000 6666 00 66

88~ OO~

8N8888

~8~ 000

58

88

8888~ oooo~

w ~
'C 0
000 00 0000

'C C Q)
aaamaNaaN~Nam~~~~aam~~a~~aao~~aa~aa~~M~~ N a ~~N ~~~~m~ ~~m ~N a~Mm N~ ~~NN~

00000

><
m
~~am~~ a~a~~M M~N M~~ m~ ~~ ~~~~ ~~~a ~~ M~ M N

>~
~ N

m~~

~ma Na~

~M~a~~

om~

m~

~m~~

mN

MNm~~i

a ...NO

<OM

Nm~~a a~a~~

~ ~~ ~M
U) M N ...~~ ~a U)U) "'~~... a~ U)<O

MO) ON

~ a
0 0 000 000000 000 00 0000 00

N a

88~ 000

~~88~8 000000

888

88

~N88

8~ 00

8aa8~i aaaa~i
000001

E
~oomoooM~mmMMVmoN~om~ooMmo~N~~oOO~o~o~om m ~ ~~v~~m~o ~ ~ m~~~~V~~ ~ 0 ~~m~~VVo ~ N NM~m~Nmo M~ O~ ~~ 00 mNN ~OV ~Mm ~oo MO m~ om ~N ~NM~ MO~V mMNm ~moo ~V ~~ ~N v~

ci

cici

cici

~N

u
.~ 'C
0

>~ 0
0 0 0000000000000000000

><

O~~ ~mm ~o~ o~o

~ ~ 0 N

888208GJ8 0000000000000000000

88

~8~

88

oo~88

80 00
000000

888
000

~ ~

~ ""

m N

a aa aa
<0<0 <0'" MO ~

N CO m

~~ In,,"
OCO N~ O~

Nm ~N

~f2 ,,"N CO""


~M ~~

m~ N,,"

E E

u
... ~ 0
00

0
WOM~O~VVVOMm~WOOON~O~OOOOMNO~O~~OOO~OVOOOV W ~~ OOOO~WOOOOONv W ~ 8 ~~OMNvoowv 8 ~ N OOOOMOOm~~VOO ~ 00 VM~NNO~OmO 0000 ~M ~M 00 WOO O~ OOv ~O

O~ V~ ~N ~~

OO~N~ ONW~ vWvM ~OOO

0 0 00 ~

~ 0 ~ 0

W W ~ ~ I

01

M~'"""" '" "' <0 """""'M

<OM

...<0 "'

u
6 66 66666666666666

cn

Q)

~8 00

o~o88~8888 0000000000

88

~o 00

88

000000

~~88
666666

00

8
66

~ '" W 01
6

00000

00

~'"

"'... 00

0
N~OOooooowmOO~WNmmom~wommOVMNOOONmONMNO~ ~~ W NV WOWW~ w~m OW ~ M~ m ~N V Wv 0 ONV WW W Ov OOOO~

-=t

wmw

N~~
~MO ~OO

~w

~~ 00
66 6 66

m ~

8~ 00

88888

0000000000000

888
6666666666666

~ 00

8 88

M~W

m~~

NO m~o WOO

~88

MW 000000

~N

~N~ 0

88 88
00

~ M ~,

It) '" It)

a> """
~'" MO ~M

888
000

66

666

'" a>'" It) ~'" ~ M ..'" W l "'0000

"'.. OM M" """

""" "'.. """


6 000 00

~OO~OOO~~~~~O~~~M~O~~~O~~OOVM~OO~~ON~oovl ~ N V~mN~

MM~M~

OMm

O~

VVV~

~O

N~~

~ a ~ ~
a

8 a 8
6

~gg~~ MV~OO 888g8


00000

~88o~ 00000 88888


00000

~~~ ~O~ 888


000

~~ 00 88
00

~~~~ ~MOO ~~88


0000

o~ O~ 88
00

~88 000 888


000

~ M ~ ~
6666666666666666666 666666

...all} Il}

~ ~~
...NN a) M II) Ma) MN 00

M~

Il}Il} ~...

~8
Nil} a)~ NCO 00

00000

-NM~~~~~mO-NM~~~~~mO~NM~~~~~mO-NM~~~~~mo NNNNNNNNNNMMMMMMMMMM~

~~!::

-,>

CI) <-

~I-

Q.

99

~~
~~ o~
~NMT~~~~mO~NMT~~~~mO~NMT~~~~mO~NMT~~~~mo ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMMT

I-

-.> -~
1-

In II-

<- ~ '" ~

00
~o
0 C\J
OOOOOOOMM~MO~v~~o~o~mVOV~ONMV~OO~NOM~o~m ~~v~~~OO~~N ~~N~~~~NvO~ vvO ~~N
NN~ OO~V ~N ~~ vvvN NM~M ~~ ~M ~O~M MvNO~ 8

N~ MOO

~OOO~ V~~~

~~ vOO

vMOOOO~ ~~OOOO

'"
...0)", ~.1;2 a""" """ 2~

"""

"""

~m~~~OO~O~~N ~OM~N~vO~M~

~~~~~~~~~~~ 00000000000000000000

888~88~8888
~~~ ~~ ~~~~ 00 0000000 OOOOv
0) 00 00

~88

88

~N08

800888;

~...~ '" "'

"'0)

~Q)

a aa
a to) 8 mm mID mm IDID ~

aa

m
~ OOOOOOOOOO~OW~Mm~oom~OO~NO~O~NOOM~OMMW~~ CON ~MMM~~ N~~ NWN~~M ~~M ~OON~m ONN ~mo~~~ ~m~ m~~ N~~ ~~O ~m ~W O~ N~ ~ 0 ~ N mM W~ m~ ~~ O~ wm m~ ~~ COMMa

8
mWM M~mo~

~~~ "'...m

m m8
m...

88
regs
a~

~
000000 000 00 00 00 OOOO~

8~~ CON
~
a) 00

8~8088
gre
000 00000 00 0 00 00 00000

~08

88

~ 0

08

80

~0888

000

000000

0)

~ 'u '~
a>
OOOO~OWOMVW~~~O~~O~O~ONMONMNMOO~~OOWWN~ V ~~~~WOvOW ~ W~N~ONO~~ ~ N ~W~O~O~~~ v~~~vO~~O M N ~ V (0 a)""", o ~ ~O>'" f88 (O~~ ~ 8f8 00 00 ~'" "'M ...~ ~ ~ N v ~~ ~O ~v O~ ~~~O Mv~~ N~v~ M~~v ~~ OW MW M~ V~~~ O~Wv ~~~~ M~Mv

><
a) 00 o~ ~

cu

8
0
0>

c:
666666666666666666 66 6666

~~~~888~8
o~ooooooo 0 00 00

a 0
66666

88

~~o8 0000

88

888~ ooo~

Q)

==
r-.
OOONo~omomvwwmowmmO~~NONMONNwwOONmOOMmmo ~ W OWNNvMNVW~~ W M NNMO~MmN~mv M ~ mVOmVMmO~m~ N ~ OO~~o~voomo

Q)

u
.c:
u 'c
6 6 66666666666 666 66 6666 66 6666

.~ a
000 00 0000

cu
OOOMOOOOOOO

~ a
gJ ~

888~8888808

M~V ~Vm wmo ~vO

808

M~ N~ m~ NO

88

mO~N ~~~~ ~~m~ WO~O

~~88

mM mM Mm OW

80 00

~~mm W~~v MM~~ vN~O

~ ~
a 01

a) M

~o U)

o~

888~ ooo~

~ 01
~ a

U)

a a
M '"
Q) Q) '" Q) 00000 ~O> """ a", ~a

01 a

a
~'" 0>". ~
O>~ "'~ "'M a~

u
(D oooooooov~mMWWvNOOOOOvONow~omW~~OOWOOONOOOM~ ~ 0 NNMMMMmvWON v N MWm~~OOm~oowm ~ ~ m~~OOv~ONN~M W V NNWMOW~OO~O ~NO N~OO mooo ~~M vN vN m~ NN OONOO vo~m v~WM v~WO m~ O~ MW ~~ v~Mv~ vvW~M WMN~~ ON~OO

I"'~ 'C
Q)

Q) Q) "M M~ " """ """

"'0>

UJ

:c 0
~ N ~ v M ~~t'-~Mt'-ONMO~V~~~t'~Nm~~~t'-~~VV~VM~m OO~NMNt'-t'-VVMNOVV~ ~OOOt'-Mt'-V~VOmoo~~ M~O mt'-V ~Mm ~O~ ~m MV NN ON V~vO MMmV ~m~~ ~t'-mo vN t'-~ 00 Ot'-

00000000000 00 0000

'C
6 6 66666666666 666 66 6666 6666666

c:

5 0

~ 0

8~8NR8;~8888

858 000

88

~~88

8~ 00

8888~ oooo~

Q)

>< It> voo~t'-~omOVN~NN~Nmmom~vo~~omm~Noo~~o~mV~N

>~ 0
00

vOmNO ~N M N ~~m ~,-m OOOO~

M...m

E
0 (J ><

E
0 0000000000000000000000000 00

~8~88~0~~8~88808 0000000000000000000000000

088

88

~888

88

8888~ OOOOv
00000

a) Ma) v m", co ~~ ...",a

m 8

"'v ~8

ci

cici

a)~ """ ~M a",

va 8m

mco

cici

:c 0
vmWWmNm~OON mo~ O~ MvmN

>~
~
NN~ vv~ ~MO mw Nm m~ WMN~ ~mvm mvmo OOOOOOOMmmWW~vmVOVOM~WO~MONWN~oo~Wo~omw~ OmmmmmNmOm~ ~M~M~vN~vNm Mv~~O~~MNWM

MN M~ MN NM

MN~~~ m~ O m ~vNMm

m~m ~~O

0 (J

E E
00

8~0~0~~88~8 ooooo~ooooo
66666666666666666666

~88 000

88

~~88 0000

80 00
66

88882
OOOON

...IX>M <0 0) on IX> ~

O)M <OM N~ IX>M ~O)

MN MM MO ~... M~

66666

..-0 66666

O)~:;; 0..-

o~

OMwo~mOO~M

O~O

o~

~O

Ov

~~ MO
oooo~ooooo

88g8&188888
0000000000

088
000

88
00

g 0
000 00 a

08 00
00

88
00

~
C\I
ooooo"'o"""oo""'o"'m"'oo"'o"'o""'o~O"""OO"'~OIX)M"Mm ...m ~"'MmOIX)""""'m" "'M ~"'O"'M~mmMO~ m" ~~m"'lX)mIX)MO"1X) ...'" O"'O~"""""'~"""

0
00

00

.~m o~ 88~~$~888~8 oooo~oooooo


00000000000000000000

'" '" " '"

~ 0

'" '" " ~

8 0

88 00

M~ ~'" 0'" ~'"

M '" M '"

~ 0

IX)" "'~ M'" m~

88 00

8~ 00
00

...'" "IX) 0'" ~'"

IX)MMm~ MO"""'" mm"""M """~",IX)

8888~ OOOOM
00000

~ ~

mOO~Mm~~V~~Nmm~om~omv~o~~om~omOO~~ONVN~~ 0 ~v~~~NmmMv~M~Nv ~ ~~m~~~~Nmm~m~m~ ~ ~~MNOvM~MNmO~MN 0 OvvMv~O~mOooo~~

~NN ~v~ ~~~ O~~

~~ ~M ~O O~

m~M~ NOmO omo~ vv~O

~~ vm vN ~m

O~MO~ ~mm~m mmv~m ooo~m

~ 0
0

888RJ88~~~888888
000000000000000000000000

888

88

~~88

888888g 00 oooo~
00 00000

000000000000000000000000

o~

()~

~o

~NMv~~~mmO~NMv~~~mmO~NMv~~~mmO~NMv~~~mmo ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMMV

()

100

~~

OOoovN~

OM~NW

Wv

~N

vv~

NOMNmWO~NW

~W

u Q) cn I

... C') ~ oooo~mOOWV~Nm~VNMNOMm~ONNomomNoow~o~mNWO V~ M~vmNMON~~ OO~ M~~V~V~WOOV ~~OO OOVm

~M Nm

00 v

WW v~

m~ 0

OO~~~W

~ ..,

~~o~~

88888
OOOON

co
~ 00000
r-

~ ~~ ~~
~r...r-

r-.., r-~

r-o corNO

0.., r

"'MIt)
ON

00000

M ~ It)

""
~
aI

alai M""""aI a ~

alCD "It)
It)

8m
~o

mm
a:::

00000

'" "'--(0 '" (0", "'...


0) I'-

-"""

""" "'
1'-'" 1'-"""'" "'0

'" 01'1'-1''" "'--(0 0 00 00

-(0

f=

-0

~t:

In <>Cl.
~I-

f=

~NM~~~~~~O~NM~~~~~~O~NM~~~~~~O~NM~~~~~~O ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM~

f-

-.> -~

(/) ~f-

<- ~ '" ~ ,-,ff-

aaa~amaa~~M~~~m~~vam~ma~Ma~mmaaamNamvmvv N m ~~NaNNNa~am v a M~~~~~ a N vNmm~a a ~ ~mM~~mma~mN 8 vv~~ a~mm

a a DaDa

8
000 aaa 00 aa ~~ 00 a~~~~ aaaaa

~
000 00

a a

00000000000 aaaaaaaaaaa

8~0~~8~88~8

080

~~v ~N~ ~~N N~a

v~ m~ ~~ a~

88

~~~. aaa~

~~vm m~m~ ~amm MMN~

va ON ~~ ~m

8~

8888~

~~m~N N~m~m ~vMav ~vNva

co ~~ ~~ 0 M'" """ ~ ~RJ RJ::; '" 00 00

M W'" C\/...'"

"'W "'...

OOOOOOO~OW~OOOW~WMOWOWOOMONo~mOOMWONMNV~ W ~O ~mw~~ 0 VM oom~~ ~ ~~ vmv~m W ~v OOMM~

In In 6 66 66666 6 6 66 6 66 66 66666
00

~ 0

~~ 00

o88~8 000000000000

~ V M ~

N m ~ ~

~~ ~v Nm OM

8~

M V m N

MW m~ M~ ~~

~g

ON ~W m~ Nm

8~ 00

888~~ oooow

V~~vN ~v~~v ~~O~v O~~~~

w "'...m

"'CO

~ ~~ ~g
a aco ...MN Mawww moo 66666 com N'"

COM m...

...
0)

OJ 'u ;
OJ oooooom~oM~mo~o~~momoNoM~o~~~~Oo~~o~~~~m
MNO~~~ ~~m~~N ~~mmMO M It) ~~~~m ~~~~~ mmN~~ ~~~M~~ 8 N~N~

~ OOOOOOONOM~OON~~~~omo~o~~o~o~~oomNo~mmo~ ~ ~v m ~m V ~~ M ~M

'0: ~

)(~
m~o~m ~~vm~ NvO~~ N~~~v ~ ~ m MOON M m ~ N~ Mm NM M~N~ ~~OM om~o ~~MM m~ Ov m~ ~O ~om~v N~~O~ ~~v~~ O~~~N

'"
In m In"""O CO '" moooo """

m
"'

co

~ 00 ~~
aaaaa
00000
...~
MM 1t)0)

a88~8
00000

a
It) ~

aa

a ~ 8~ 0 0 00
a aa aaaa
00

~~~~ o~oo
aa aaaaa
1

~~
IX)""", '" moooo OCO ...~ CO

8~8~~ oooo~

U
~ u 'c .c u OJ
00 0) 00 00 oooo~ OO~M 00000000000000000000

8
~
0

ONN~m 88

~~
mo ~OO 00 NN~O

~~~ ~OO ~~~ MNN

O~N ~
0

~~ ~~ ~~ ~M

M~

~~N~ mN~~ ~m~~ ~MN~

~MOm

m~ ~o ~~ ~~

8 ~ 0

~m~~N ~~mo~ MNN~~ ~~mm~

8 088 ~

co
WW WM

~ ~~ ~M
00000

O)~

MW 0)",

~~

66666666666666666666

6666666

.oooooooo~"'~oommmMoom~oooNMooo"'omooomoooMom
~MOO mmM v 0 00 mOON g ~m M
~ N

t;
000
mN o~"'~ ~oo N~ N

'C OJ 'C

OO~mNm OOOOm~M '" 00 00 ~mmoo'"

g
Nm~m 00000000000000
g mm 000 N ~

Mv'" m~~ m 00 ~ "'mm

NM'"

mN "'00 0 m ~o

~OO

v~mm mm~~ m v 00 MOO., ~OO~~ ~ vm

m 00

~o ~~

~ 00 N M

8 __-""" ...0'"
N
'" a)

-O""""a)

'" "'NN... NN

OJ

000

00000

000

00

0000

00

0'" ~o

00

'"

'" 0

00 00

NN ON

00 00

w
;0=. 'C 0
a 00 00 M am a N 00 ~~ a

)(

>ooooooomovoomm~VMvom~mO~~OOO~OOMmVom~mvo
m m m ~ ~ m~ ~m ~~ vN ~~ ~~ON~O NOO~NM~ MMvvmm Mvoom~ ~~

u
)(

.'=
'C 0

>OOOOOOOvW~WOON~~~mov~mo~~O~O~Noov~om~~~M

E E
U
0
ooooooo~m~MOOOMw~~omN~~VWO~O-NOOWNOMN_M~ -~OW mO~M -~~v M~O88 mm ~~MO O~MO -O-W vNm8 ~N MM~MO~ ~Nm-v~ O~v~-~

g mw ~~~~ 0000
0 OM

NvNm ~MON ~Mm~ M~M~ ~

V g Nm g ~~~~~ 000000000000 vo
g 0 OM

v~mm~ NNNmW vNMv~ ~OO~N


00

~~m ~m~ v~v M~v

vv 00 ~~ 00

0 ~ ~ ~
N ~

O~ ~W ~O NN

~W ~~ ~M W~

~Nm~~ v~Ov~ ~~Wv~ ~~W~~

~O~

~~

~O ~~

~~

~O ON

~~ 00

~ W

~~~~~ 00000

N~~Nm OOOOv

... 0000 0000 Now 0000000000000000000000000

OJ (/)

u 8
N
0

OmN~N~ 88

8N

~ v W M

-Ov

~~

-W ~m ~~ N~

Ov ~~ ~W -W

~
OOOOOOO~ONOONNm~mmO~OMom~omOOOO~N~omov~o ~M OV ~O mm ~~ v~ ~~ N~ ~~ ~~ ~M~~~m NmmvmO ~~Nmmm ~~~vvN

00 00 00

-~

OvN~~ ~~M~N ~m-NO N~~~~

~v mM OOOOv 00000

8
000000

88
N

m~
000

~ M v v

~
0

N
0 0

N ~ M m

~v Nm ~~ v~

N 8

mm ~M ~~ vv

v~O m~M ~Mm ~~M

mNN~~ ~~m~~ ~v~mm ~v~M~

~~
o~ 00

V
m ~

Mv
~o 00

v~O
MON 000

8 oooo~

N~ 00 o~

~~

v~~m ~oo~

66666666666666666666

66666

~~NOOO~~~~~ONWO~~~O~~~oo~ooo~~omoNo~oomM ~~o mowmw N~~ N~M~~ m~~ ~N~~O ~~~ N~N~W ~~~ ~N

~NN OO~

mo ~OOO~

O~

~~

wm~~ow ~~W~N~ N~O~NO OWOOWM

8
00000

~ 000000

88
000000

~MO ~Mm MMN M~~

0 000

88
000

MO MN WN O~

00 00

~~

N
~ 0

~ 0 ~ ~

~N ~~ m~ W~

0 00

8
00 0 00

N~O ~~~ mmM ~M~

M 0 000

8
000

mm~M~ ~~WOO ~~~~~ ~~OOW

M 0

8888
OOOOM

000

00000

~NM~~w~~mO~NM~~w~~mO~NM~~w~~mO~NM~~w~~mo

~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM~

101

OOO!

~ a

~~ 00

~~~~~~ 000000

~~o 000

~~ 00

~ a

~~ 00

~~~ 000

~~~~~ 00000

Nm

E E

88
M ~00 ~~ 00 mN

8 8

moo~ N~~ N~M mMM

88

vOO N~ 000 oom

a m m ~

~~ Nm NOO ~v

mm~ ~N~ mN~ MOO

~mM~m mOVMo Nmm~m N~mooo

~
M 0>

0>0>

O>U)

0> N CO CO I

NO>/'.

/'.U) ~CO

COCO COO

00> "'~ COM 00

/'./'.

0>0 ~/'. M~ O~

00000

I"(0

N (00 m...(O

I"- (O",",N
on 0'" moo 66666

oj", "'oj

"'N oj", aI"-

(01"-"'

(00 """ "'... 00

~ ~~~:;,
m N

". 0'" """ 0 CO", Mm


m...", m".", ".

~
00000
moooo
0".".", "'0 "'0

...~O

..m",
a N<D .1; ~8 ...~~ 00000

"""

~ ~~ ~~ <Dm
8~ ~N

ON

~ ~

~ m~ ~~ "'I""""

'" ~

...co coa> coa


~co

~ "'...'" '" ...M'" a... '" aa aa

00000

-.> f::~!::

cn <-0~ff::

~--

~~
Q~
aQ
~NMv~~~~mO~NMv~~~~mO~NMv~~~~mO~NMV~~~~mo ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMMV

=
~vII-

II) ~ ~

~- Q. -I'"

--a
~~~~M~N 8

..,.
0 0 ~M~vM~N~~aM~~Ma~Vm~v~~va<Da~~~Ma~~ 8

0
ww~~aavvNN~~m~~mMMN~~~~~~~~~mNm~~~NW~vma m~~w a~~~N~m~mV~~W~M~M~wmm~vWvWNN~WM~M aw~~ NvNawm~NmM~v~mWW~Nw~m~~~V~~~M~N~a v~mN ~~~ma~aMW~~V~~~~~~~Na)a)NWMW~o)~<DN~a) a~N~ NM<D<D

to

00

00

to

0000

cicicici
() ()

cicicicicicicicicicicicicicicicicicicicicicicicicicicicicicicicici

0>
C') a N ~v M~~~~
m v -o~mm o-Ov~ OOOOM

ooooooooo~ooooo~oooomONOOVOMONNOO~~OM~~OO~ V000 Nv ~~ NN ~M Mm va ~m 00
00 00 a 00 -0 -0 N a

m~~ v~ M~ ~M

M -V ~ M m

co co 0)

-N -0

8
000

Nm M~M ~M

-m
8 M -00 va

N M N ~

~v O~ m~ -M

-M

00 D DD DD

00000000000

~ 'u '0: co
M
00 0 O~NONO ~OOOOO 0 NOO 000000000
.00000m.~.NMOOO~N~WOWVWOMoooomNWOO~MN.0~M~ 0 vWNOOOO~ O.Nm~O~O~ ~ WMW~OOV O~WWM~OOO. ~ ~M.OO~~ Wv~..w~moo ~ NN~vOW mO~OOMWW. 00 WM~M~N ~ WN~

>< 88
~ 0
N

m
N

8
NM 00 00 M 0~M mNO 0000 ~ N~ 0 00 OOOOOOOv

8 8
00000000
<XI <XI N 0) 00000 ~O O)N ~'" 00 o~ N~ "'" 00

ON ~W N~ ~O

MW~N OvMOO ~OOO. Wv~~

NN~NN~.M om~mwoowoo .OO~N~WM~

c
0 000000000000000000000

Q)

;
Q)
C')

U
m
~ """ mm

r-..

m .~
~o~o 00000 000 00

@~~~ ~~vO ~~~8


0000 0000000 00000 000 00 0000 00000000 m

~vm~o~w~oo~v~o~~mvoo~OOOOv~ONW~~OONm~OOWM~~ ~vmv ooo~m~v~

@~~~~~~ ~o~vwm~ 0~~g888 ONOOOOO


66666
aa
m.xla""" "'m'" "'...

~N~~~ ~O~~O 88800


aa

~o~~m

~~~ vO~ 888

OOOO~

~~ O~ 88

~N

~@~~ ~ONM ~808 0000

wmwv

~~~~N~~M ONONN~~v 8888888~ OOOOOOOM

c .c u Q)

I'C
Q) m
<D cry

ooooooowvmNmOMMOM~OWOOO~WOMO~~OOW~OVVWNm mOMNv ~M ~~vmw N~ MNvmN N~ ~O~WO O~ MN ~~ W~ vO M m N ~ W~ O~ N~ ~M ~ ~ ~ ~ ~M ~M mw Nv ~m wm O~ NN OMMW~ ~NvN~ ~~~v~ mN~8~

:c
0
v~~O~ OM~~m NM~MN ~MNOM ~ m 0 v m 0 ~ V ~N ~N ~~ ~~ ~ M 0 0 ~~ NM ~O O~ N~~~v~m~ ~NvMNmO~ mO~MmmM~ vmv~MNMm

0000000 0 00 000 0
It) CO)
~O~OOON~MN~OO~o~~vomomOO~O~OM~OOVMVVM~~O ~ 0 Nm~vv~ m ~ om~vm~ ~ M ~~~vMm ~ m ~~O~mN

'C C

~8~~8 ~~~~~

~8 ~~

Q)

~8 ~~ 00

~ ~

88 ~~ 00000

~ ~

~8 ~~

8~ ~~

>< UJ '" a... ~ '" "' [\.~ ~~ a o)a aO) '" """ "'... ~'"
'" "'~ 0) aa 00000 ooooooo~ 00000000 aa

>~
~ 0 ~ 0 ~~~~~~ 000000000000000000 ~~~~~ ~ ~ ~~ ~ 00

~~8~~8

~88~8

8g

~8

8g88~oo~

u
><

,~
'C 0

>'o:t M
oooooo~~~w~omWNOMmO~OWOO~OMOM~OO~~Nm~~N~ mON~~ M~NN~m ~N~~~ ~~~~m~ ~Nm~W OM~W~M ~~M~~ O~MNO~ ~ M ~ ~ ~ M W ~ MM N~ M~ N~ W ~ M ~ ~~ ~m ~O O~

Nm~~W~~m ~OM~MN~m WM~~~~mM m~N~W~~O

8o~gg ~~~~~
000000000000000000

8~o8~8 ~~~~~~

~ ~

~ ~

8~ ~~

g ~

~~ ~~

8~8888~~

E
CO) CO)
~a~aaaa~~<x)NNa~a~N...a~<x)Na~M~~a~...aaM~a~M"'Na aN~ ~"'~~Nm a<X)M "'M<X)m<X)N M<X)~"'~ N~N~'"
aN~M~ M...m

66666666

ooooooow

u
... NM'" ~~~
W~v ~N~ ~mm "'~M ~~~~~ a~NamM ~~m<X)aa

0
NOM 000 waaa~ ~aaaaa

u 8
a~~~a

...~ <X)~
NO

m ~
~

m... ~m
NO

m~ M~
"'u,

cn
0
I
a 00000 NO

Q) N MN

88

N
a 000

88

8
OM

M<X)

~
a 00

m
M a

...
a 00

NO

m
a 00

qo
C\I
(')

000

0000000000000000000

00

~OO~OOOV~~OOM~~~M~~~OVVNO~OO~oo~o~m~O~OOWNOO ~O~ Nv~NOWOO~~v~~ vvO Nv~vO~OO~ooomv omoo w~Ovm~mN~~O~ OMO ~mVm~o~~mo~o ~WO NM~om~ ~ ~O~ VOO~~O N

~~w 000

OOMV WNM ~MN ~~V ~

~W Nv O~

000

aaaaaaaaaaaa

00000000000000000000000

~ 8 v aaa
0

M~ 8 N 0

~ 0 V ~ M v

~~ ~W 00 ~~ MM 00

WOW ~OOO ~m~ om~

ov 0000

aa

aa

aaa

c;;

OOOOOOOOOOOOOOONOOOOOOOOOOOOOOOOOOOOOOO~

~
~
N 0

<0

:2 :2 0
0 0
-0
~NMv~~~mmO~NMv~~~mmO~NMv~~~mmO~NMv~~~mmo ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMMV

102

..

NaaN~aa

aaamaaN~

MOO

<D~N ~~~~V~N~ Naaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

8
MV~ NN~~~~av

.n
I'I'-

vaaaaa~a

MNa

M~Ma

N~ ---~~NOO m-

-~om-

"'

~ ~~~:C '" ...o~ "' ~'" "' ~'"


moooo

mco

~co

co'"

0000000

0 MN 8 " '"

M'"

OOOO~MNW~ 8 88

"" """

"'m N'"

~O~MMNmm

co ",com ~ 8" a mID ".xl aa

",

M """'CO ..."'
"""

"'~O~...

o880~ ~~~a~

~8
cc

"'0.;1; 8~ 0. cc

'" '"

66666

a> """ .0..'" '" "'~ '" ""'"


"" 8

"'~

'" ,,"N 00

a aa
a>
~mM~m ~~
~

~O ON "'. .'" N'" 00

~CD ,,"0

aa

888

"' ~<X)~
_OM "'M~<X)N

a... aaaa~

W~

a> ~~ '" 0

M""""~
00 ~(\I "'~

00000

~ ~~ ~~ 00 00
'" 000 00

O~ ""a> (\1M ~'"

MvNON Wm~~M ~mWMO O~~~~

...CD"'...'"
0 <0'" "'0> WVN

aaa aaaaa
OOOOW

~~ ow

~ ~g "'0 2 00 ~8

It)

0>

g~ 0... 8~ 00

66666

~
a)
~ m

00

00

a)

cn <- Q. -,> i=~!::"~

i=

103

~MNN~mMO~~ONM~~MN~~~mm~m~mNONNmM~m~N~Nom N~Nm~MMMmm~Nm~mm~m~~~~mm~O~NmN~~mmMmOmNM mMOMm~~mO~m~m~mNN~m

8
m~~ommmN~
8 ~N~~mMm~N~ m~~mOmOMM~ NN~~ONMNm

1<0'" In ",

mN~~mM~O~~OmN~~mN~~

mOO~~~ON~~m~~ONm~mO~N~~~mO~m~~~mM~N~MmOm mMmmMM~~mm~~~~~mm~~~m~

8
mmNmmM~~
8 ~~OMNOO~ ~N~~ON~m

~~ In'"
1'-1'-

O~~~OO~~O~~OONOO~OOmo~ NOOOOO~OOMMOOOOOOOOOOOOOOOMOOOOOOOOOOOO~

OOO~N~M~

~I

000000000"':00000000000000000000000000000"':

':0
onMm (0'"
N~

ml

NmMNNwammNW~N~mM~~maawaW~N~~MM~mMmaa~W~M ~Mm~~m~~w~~mM~~~mNam~waaMNm~m~m~NNa~aNm~ ~N~~~~~~Nm~w~mMm~~mMw~~NaMNm~aM~MM~wNm~w ~aaamma~m~MM~mN~wa~wNMamm~~M~~mmma~aw~NM

~~a~NM~~~a~NaNwN~a~~M~am~~~aammamamm~~~~ Na~~aa~aNaaaaaaaaaaaaaaaaaMaaa~aaaaaaaam
a~~wa~Mw~~w~~NmMM~~~Nw~~~N~am~~~~Mm~~Mwm mmam~amm~NN~M~a~~aa~~Naa~am~~~aa~~a~Naa~

m~

~~
cO":

...m

66666666~666666666666666666666666666666~
co co
0) M~maNa~~~~~mmN~NvNv~Nam~vm~Mvmv~~MMva~~N

~ ><
m~MNNNwa~vm~wmwmWM~~~w
MW~~aa~~a~vaa~aavaa~a~ NaaaaavNaa~aaaaaaaaaaaaaaaNaaaaaaaaaaaaM

.~
~~~am~~M
0)0 aaaNN~M~

M~~&J~8~~$re~~~~~~2~~~R8~m~~~~~~~~~~~~m~~~ ~v~vV~m~~Mm~~~~NWva~~~~NMmmMWV~WNMmN~N~a
8 8
~~wm~Nvw
MaaN~aav

~a~~~~~amN~~Ma~N~~m~~wa~MvMW~~WM~mmmVMNM

...""" ..."""

~~
"'... C\I'"
"':0

m
6666666~6666666666666666666666666666666~

Q)

'u
:;:
Q)
VM~~OOM~~N~~~M~~~OO~~~OO~ONM~V~ ~N~OOO~OOONOOOOOOOOOOOOOOOMOOO~OOOOOOOOO N~ ~~~vNOO~
VMO~~NNOOv~m~~NNmN~N~NOm~m~mOm~~~M~~~VOm om~mVVVM~M~~OMOV~~~~~~~~ONV~~~N

M~~~8~~~~~~N~~m~~~~~~~~~~~~~~~~~~~m~~~~~
8
~NOV~M~N
I'-~

~vm~~~o~m~~O~~~~MN~mVMONm~MN~V~~~~~OOV~O M~NMMOVm~VMVN~VMMN~~M~~~~~~mOM~NV~~O~M~~ CD a)

u
OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON

0 .0":

..-0..~~ ~~

Q) (/) ...

c
"'0) Q)'"

>
~WMw~m~Vvvm~~~mmN~a~vv~~~WWVN~NN~~m~mNva mvw~mMMa~wwm~W~~Nva~~~wmmaaWVVv~MmaNmamM aam~~NmaMMm~N~~~~mawwM~Vm~M~vmvwM~Nwm~vm MmV~vm~MMv~~~mam~mwwN~a~mvm~M~~vvawNm~mN N~mam~~~~~~Nm~wvmmv~Nwav~~v~~NmmvwmmaMwa m~vNvMv~vm~mNamMmv~a~m~~~N~~~~v

Q)
"'~Q) <0""" Q)~
8 ~~avNaaN ~vm~~Mw~

'C
Q)

w
~oov~mvmvoo~o~ooO~~~v~~mM
~~OO~ON~"'O~"'O~mo~~oo~O~ NOOOOOvOOONONNOOOOOOOOOOOONOOOOOOOOOOOO'"

'C C Q)

~~~a~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 000 a~aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa~


Nmaaaamw~~~a~~a~waam~~aa~aMM~Va

Mg ",0) ";0

><
O"'M"'m~v~~~m 8

'C 0 ~OON~~M~v
OOOv"'~MOO

8 8
v~OMNOOv

0 C,) ><
.~ 'C 0
N ~ ~ ~ N ~ M

E E
OOOO~OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO~
<D~)~~~O~<D~<D<DM~OM~))N<DMm~)~NM)~NNmNO~~m<DN ~~~~~mM~N~OmmNN~~m~<D~N<D~)NNm~M)~~<D~<D<D~~N 8 mO)~~~NMN~~N~~<D~~m~~~Mm<D~<DmMN~~~~O~-~-~ )MOM~~)OOMO~~O)~M<D<D~~NmOM)<Dm<Dm<Dm~<DO~~~<D ~<D~~~O<D~mM~N~~)~Nm~~M~O~~)~~)~~mMN~~<D~~~ ~ m ~ ~ ~ ~ <D moo ) ~ 0 ) m M ) ~ ~ ~ ~ mmONOOO<D~N~~~MO~<DOO~~NOO~O~~~~O NO~OOO<DOOONOOOOOOOOOOOOOOOMOOO~OOOOOOOO~ ooo~ooooooooooooooooooooooooooooooooooo~
<D <D ~

>-

E
~om~m~~m~~co~vco~mMCOMVMV"'O~~v...o...~mCO~~NVoCOM ~cococo...v~m...m~OM"'~MOM~NOOVCOCO~CO"'NN~NCONM~VNCOM ~ ~ ~ ...co ~ N N ~ m ~ ~ M M ~ 0 N~M~MCOO~V~CON~Mm~MVN"'~CONmN~COOV~~MO

u ...

0
0 M ...V 0 ...M ~

NVCOCOM~N~"'MMVOCO~"'~M~NM"'~V"'O~m~NOCOCO~mVCO~M'" ...commv~co"'~~VO~COOVM~~OMCO~CO~M"'VCOO"'
M~CO~OOV"'~NCO~~M~~"'OOm~~oo~o...V~~~

m N

m ~

Q)

(/)

..,.
mW~~~M~OOO~~N~~NW~~OO~MmOOOOWNmooow~oo~~oom~o~ ~~OOOOW~MNMOMMM~mOO~W~~MMWOMm~O~WNONMm~mNOO~ N~~mmMWOmWN~O~M~M~MWMWOOO~OOO~N~N~O~mOOOON~M ooWWOO~m~N~OmmOOWNWW~~OO~~~N~O~~M~~~M~M~~OO mNWmmmOOM~OOOM~MmO~~WmOm~N~~NMW~WOO~ON~M~MW ~NOOmMMOW~OMOO~O~~~~~NOO~OO~MOO~~om
OOMN~OON~~N~~~M~~WOOOO~~OO~O~M~~~

.
MN~OOOmOOONOOOOOOOOOOOOOOOMOOO~OOOOOOOO~

M~~OOO"'OOONOOOOOOOOOOOOOOOMOOO~OOOOOOOO~

aa~aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaN

O~OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON

rooooNm~Nmm~WV~VVNMwMow~mroVMwMNOM~~~~om~ro ~ro~~ro~ONN~NroroNroNON~~~~Nvw~orovmmMw~~ro~WNV W~N~~mM~m~roM~wvNm~M~MwNroNwm~~ ~~~NOMmm~~~O~mMMMNrowWWWMNW~W~ wmw~omrow~NM~O~ONMMWM~M~MM~MvroNororo~Mm~~V~ ro~OO~MO~NO~OOO~~ro~~NNm~ro~MNo~~~


M~NNOoro~~Nv~~M~~WOOro~~OO~ON~~~N

V~~OOOWOOONOOOOOOOOOOOOOOOMOOO~OOOOOOOON

~OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON

~NMv~~~~mO~NMv~~~~mO~NMv~~~~mO~NMv~~~~mo

~~~~~~~~~~NNNNNNNNNNMMMMMMMMMMV

105

"'O~mOOvvNm~v

-.~O~N"'MOO~~V~V~~oo~oo"'m~~"'~~m

.~ vv~MMM"'~

>N~~OOOO~~OONO"'V~Omom~OOVVmMmmNm~NOOOO~~N"'NM~m~ 00 ~M~O~~OO~~N~"'OOmO~OOMm~NvO~o M~~OON~M~~OMv~O~MO~~OM~OO~~NO~NN"'~MOOm"'~~~~

M~OONOOOM"'OOOO~~oo~~~m~~m~"'OOVVVMoom~"'~V"'MOOO~

<D'" ...'"

am<D ...,,'"
"'~ ~'" ~'"

<DCO

..fa

I{)"'N

'"
8 to~
<D M 0 ~~~~ N ~ N

o M

<D )

O<D

""" ...'" ";0


m CO N CO V mM.-CO ~
8 ONo~mM"'~ ~~~vNOOv

OM M'"

CO N

N ~

CO ~

m", """ .,,'" ~~ cc

~.,,'" mm~
ui..;

~o... co...
8 NN~~OM~m W~~~MOOOO

MM ...~ ~C\I C\I~

~f6

co:~

MmroroMvMwmv
~~~ro~roomMo
8 NN~~OM~~ W~~VMOO~

".."'~ """ ~v

0"..'"
Ov
~".. ".."..

Ili..:

mo

~~oomN~V~V~~~M~MM~MN~m~~~~VONmOM~~~Mvm~~ ~m~VMMM~~~~~~O~N~~~ONN~~O~~M~m~M~m~~~~~~ m~VNN~~NOvVNM~MmO~~~~N~~N~~~~~~~O~m~MO~N m~mMN~N~m~~~~N~~~v~Vm~~V~~~m~N~mM~~VV~~N ~~~N~~~N~~~N~N~~N~NVm~~V~VV~VNV~VO~~VN~~ V~N~~Mm~mVmm~N~~mV~~o~

"'00

8
~ONm~~~N
8 V~OMNOOm ~M~~VM~N O~o~~~vm

~~
1'-'" N'" "'". N'"

I'-MM

V~m~OON~ONNO~~O~~OO~~~

6666666666666666666~6666666666666666666~

NOOOOO~OOOVOOOOOOOOOOOOOOOMOOOOOOOOOOOO~

";0

~~mMO~MOOW~voovm~OOWVVN~WNOOOOWOOOOMMm~mNm~m~VN MV~~mWNmWm~~~N~N~V~NMm~mMN~VMVOONWOOOVWWwm ~MOOOOM

01(),",

vl'-C\J

o~v~OO~~~NWM~O"'~M~V~~~OW~WM~~W~WO~

O~OOM~~

WNOOOOWVMOO~V~VmWWW~~N~WOm~WMVNMWNv

OMVOO~~MOVNO~WWNvmMN~OWOOW~MVOOOOWOOWm~Vooo~~V oovo~~ ~mmoo~oo~NooNOOv~~~v MOOm~O ~~ON~O~OOO~~OOW~~

8 8
wmNv~~mm OOOOM~MOO v~OvN

8
w~ooov
~~ Ov

8 ono

00 00
0)

NOOOOO~OOOVOOO~~~~~~~~~~~~~~~~~~~~~~~~~~ OOOOOOOOOOOOOOOOOO~OOOOOOOOOOOOOOOOOOOO~

~~ v'"' ~~ am

or-

.~

><
o~~mOMV~~M~~~vo~m~m~m~m~MMN~~~NMm~m~Nm~m v~mOmO~M~~VM~VmmVmm~~N~Mm~NOm~M~~~M~OmMO mm~~m~~N~m~~mOMmVm~~~~~mOmNVOMVm~Mm~~ ~~~m~~m~M~V~~~~~~OOVO~OO~~OOOmN~VOO~~V~~ NM~~~m~moo~o~~~~~~O~VVNOOO~mOVOOONOO~~V~~~MV ~M~m~~m~ONV~~NOV~~~~~OO~~~N~mOOoo~ OOO~~OON~~MMN~M~~~OO~~~OO~OMM~V~

~ 8
m~oVmM~~
~~~VNOOM COin MIn

-;
MN 1'-1'-

8
mM

In In.,.

Oln'" mm

N~~OOO~OOOMOOOOOOOOOOOOOOOMOOO~OOooooooa

"""
~..:
COO
"""~ "'CD'"

c
~maC\lI'-I'-OOOOWvVVmvaC\lMmC\lV~WamC\lV~M~mWvoommamM~M OOmM~I'-C\l~I'-WI'-~OOMl'-mI'-WM~MC\lOOaaWI'-C\lC\lI'-M~mMV~C\lmaOOm ~al'-aaC\lOOaMaVOO~C\lv~aOOC\lmOOI'-~M~C\lVC\lW~maC\l~vma~mM ~l'-mWMal'-a~v~ooammWW~Wl'-vaI'-OOMI'-~~MC\I~WV~C\lmC\lC\lml'~M~Wl'-aWWmmaaVOOC\lV~~C\lI'-OOOOOOWmM~mC\lOOI'-WC\lw~mwaoov v ~ ~ ~ M M C\I m 00 W ~ a 00 I'00 ~ I'V ~ C\I a v 8 W 00 C\l a ~ W v oooo~oooooooooooooooooooooo~

66666666666666666~666666666666666666666~

Q)

'u
;
Q) 00 a ~
a a W ~~aM,.

u
8~
~ 00 ~ ~
voomC\laC\lC\l~a~~aC\la~~aaw~~ 00 ,-M~Mm

Q) (/) '-

00000000000
C\laaaaa~aaa~aaaaaaaaaaaaaaaC\laaaaaaaaaaaaw

~~ om
ana

NN o~

~'"

>
W~NN~~w~~~~mmN~Mm~~~m~~mmMMNMM~m~W~N~~O~ WN~~~~~MOOmNN~~~~~m~~N~~Mm~~MOWN~N~O~~M~ mMm~~~M 8 ~~~WNm~OOO~~~m~~~NWN~M~NO~~M~W~~
mNM~WW~ m~WM~WWO~~mW~~OMM~M~M~mNO~WWOmW~mm~mMNN~ ~o~~m~O~m~~N~mmNM~~~~w ~M~OOm~m~~~~~WMN~~m~~~OM~~~~NOOO

Q)

'C
Q)
N~N ~C')

C Q)
8 ~~OMNOOm OMmm~MWW ~mm~MM~W~NNmNmO~WOO~~~ O~OOM~~m

'C

8
~ONNmW~~

N ""0) ";0

~""~g

NOOOOO~OOONO~OOOOOOOOOOOOOMOOOOOOOOOOOO~

w ~
'C 0
8 NMOO~O~~OOOO~~v o00NOO~V~~mM~m

><

cicicicicicicicicicicicicicici,.;cicicicicicicicicicicicicicicicicicicicicicici,.;

>m~~m~~~~~OOOO~M~v~o~~m~N~N~omOO~OMN~m~~NVNv OO~vNOOO~O~N~ON~~MOOMM~mOOMO~~vNO~~~~mN~~M~m M~M~NMMM~mMM~OOm~~~N~~M~~V~


om~ooV~~O~~~MOmNOOmOOMN~~~~VN~

0 (J ><

E
MOOm~~O~~~MMOMNO~~OO~O~ OOO~M~MOO v~OMNNON

E
~V~VMOONN~NNNN~~N~~NOONmOONOOM~~MmOO~NMMN~~~OO MMO~~V~~ONNOOOOOOOO~~v~Nmv

8
~OON~~V~OO
8 ~OOO~NN~~

ooooooooooooooooooooooooooooooooooooooo~
m~m~~mDDN~~mND~~~~~~m~Mm~m~m~m~mNM~MNm~~ mm~mM~mmmMNMmm~M~m~D~m~mDMm~~mNm~mmMm~ND ~D~mm~DDND~Mm~~N~M~D~~~~~~~~m~D~~~~~~mD~ mN~NmmmmM~Nm~mmMmm~MDD~mMDmMMmm~~DMmmNmD Nmmm~mM~~~NDMMDmM~~~m~~m~~~M~~~~NNDmMDm~

NO~OOO~OOONoaaooooooOOOOOONaooooooooooo~

8~
mal

~v "'aI

NMv valM all"-

":6

~
'C 0

>"'~m CDm",

E
cicicicicicicicicicicicici~cicicicicicicicicicicicicicicicicicicicicicicicicici

~~~~~88~~~~~~~~~~~8~~~88~o~~~~~8re~~N~~8g ~DDDDDMDDD~D~DDDDDDDDDDDDD~DDDDDDDDDDDDm

~~

m", ~'"
<O~

u
'0
mw~o~o~o~~~o~~~~O~W~~~~W~V~OVN~~NmON~WWM Wm~VMNMmM~mNVOOV~MWWV~~mNVVN~~Wm~~N~~NNV 0 ~ ~ m ~ ~ ~ ~ W M m W v m N N m ~M NmNW~~~m~O~~Nv~~~WO~om~mw~WOm~W~MM~V~ N~M~V~m~~~WO~~Nm~Wm~~~woO~O~OVMVW~VNM~~~

"'<0 MO

cn
I

(,) Q)
0 NON V

0 -=t

666666666666~66666666666666666666666666~

~OOOMOMOOO~O~OOOOOOOOOOOOONOOOOOOOOOOOON

~'" ~~:8~~~~~~~~~wN~~~88~~;8~~a~M~&J:88~gj~~~~~~ <01'~a; "'1'"':0

1'-"'1'"""'"

(\1(\1

OC\lC\l~MmmC\lW~~NM~mm~w~~momN~MmmOMmovm~v~~~W MMWm~W~~MmNN~m~~mW~MNM~VMWOV~mMVM~OV~WM~
Mvoo~mN~mwmMmmMON~MM~omm~VMMMmm~~mm~v~C\I~ C\I~VO~vM~oNwmmMmN~v~Mow
vmmNomMW~~OO~MO~~OO~~~ C\lOOOO~~OO~MNOOOOOOOOOOOOOOMOOOOOOOOOOOO~

""""" ~m~~~M~~~~~~~m~~N~:g~~2aN~~~re~~~~~~~~~~~~ ~"'N """ "',..


8
woNmNwoM
O~ONM~~m 8 mMm~~Mwm v~OM..OO~

66666666666~666666666666666666666666666~

""" Ilia
...00 ~~ ON

N'" ,..,.. N'"

WWvWNm~~m~~~~mW~~~~~NmomMN~OW~~~~~~~OMMN Ov~Nv~~m~~NOvWW~~MNM~mMW~W~NM~~WM~O~MN~~ ~NWNNV~ 8 N~WM~m~~NMW~~VWVNO~~O~OO~~~~~NM~ ~~~WO~~ ~~~~~OOmO~~MN~~~N~~O~~~mv~~~mow~ NvvV~M~N~mO~VOVwV~~~OWM~~mWNMO~NvOv~~NvN

~~~~~~~re8~~~8~8~~o8~~~8~88~~~~~8~88~~o~~

~OOOOONOOO~OOOOOOOOOOOOOOO~OOOOOOOOOOOOW

~~ NO <0

"'0

6666666666~66666666666666666666666666666

~NM.~~~mma~NM.~~~mma~NM.~~~mma~NM.~~~mma
~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM.

l
106

C""'"

~NM.~~~~mO~NM.~~~~mO~NM.~~~~mO~NM.~~~~mo ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMM.

l
"'mco "'0 "'CO 8
Mvww~
8 MNNmN MM~mNvm~ wN~vMaaM

NvN~~wmamNmmwa~~~~va~m~mvmN~~mm~M~~ma~w~ ~NvwNmmmvmaVmVmMm~~~m~~mv~mw~amNmmwwa~ww ~mwam~~NW~NNv~NMamwmmMa~amMNmNv~~Nmvv~wm ~mmwNwamaMmw~~Vwv~ma~~~m~mVMNaMMm~vNmaMN aaNwNwMMwmm~NmNw~~w~Na~v~~NMwammmm~a~Mwm mMN~wm~am~mm~~~mN~~vw~~mM

...~

a~NMa~mmvMMw~M~~maam~Naa~ M~~aaawaaaNaaaaaaaaaaaaaaaM~aa~aaaaaaaaN

o~ M~ ~(\J

66666666666666666666666666666~666666666N

ui..:

(\J~

Om~Nv~W~~NmVNmNVOMM~~OV~~mNNmm~mO~mNmNO~ M~~~~m~~v~w 8 ~M~~~~mM~m


8 M~mmm~~~Vm~~~mmmM ~o~N~O~mvMOMM~mmN mNm~~WmNO~~ ~Om~ONm~~m

M~m~WVVMOOM~o~mo~m~~Vm~MW~Nm~~om~NW~~WV~

N~NOmvO~~~~~m~~mOm~MmO~~Vmmooo~mm~~~NNvm MW~N~~m~~vvom~ovw~~~~m~mmNmmOvv
8 mO~NOOvm~mW~OM~~VOOm~~OO~OVMN~~ mmo~w~m~ ~N~vMOOm

~~ ~~
tOm
a)O

~",a) M"'~

~ ~ OOOOOOOOOOOOOOOOOOOOOOOOOOOO~OOOOOOOOOON
0)

N~~OOOWOOONOOOOO~OOOOOOOOOMOOO~OOOOOOOOO

~~

~
~V~~~~O~V-N~~mmv~vm~Nm~-o~~~mV~mOMN~~~~~mN~mVM~--mmMm-OONNvNM-mNm~vm~OMNm~~~~MNM ~N~V-~~~~~~MN-m~M~M-N~~V~~v-~-m~N~~M~~~~ mM~~O~N~vmOMm~O~~mmN~~m-Mm~V-VVOVVMm~~MN -V-VO-Nm~-~-m~M~O~~~~mOOOm~VN~-m~O~MO~NM N~~-v~~~--mom_-vo~_m_O-mvNMm~~v
8 mO-NOOvm-~V-OM--MOO~-NOONO-~N~vmo~~~~m ~V-VMO-mN_-OOO~OOONOOOOO-OOOOOOOOOM_OO-OOOOOOOOO

'u
:;

~ """CO ~'"
v~~ In!'-

.~

><
com "'In

~
co!'-

c
Iri..:
MaNN--a~VMV--~~~M~~N~aM~--~aa-VMm~~~-MmMNmv~M-N~~vmvNNm~-~am~~a-mMamam~~~~va~-~ -aMmm-mV~Nma~NNN~~N_-vm~avv~mMmv~~~Mm~~m~N~av~mM~N~~~~~m~~~~aM-ma~M~ma~~a~Ma--m m~mmM-mNM~mNmN_N~N~NvM-m~-m~~m~mMV-~M~~~ Nom --v ~ NOM m ~ -a "'<0", m...~

mo

OOOOOOOOOOOOOOOOOOOOOOO

Q)

u
~ -~ N a -~
~N-vMaa~

0
~ ~ --m N V m N ---m M m ~ mom
a--Naa~m-Mm--M--~aam-Na--aN~N~M--aaa~aaaNaaaaa-aaaaaaaaaMaaa-aaaaaaaa-

Q)

8
mN NN

'::8

C/) ...

Q)

66666666666666666666666666~666666666666N

"'m cc
~..:

>
C
mmoMMNNN~M~mN~~m~owmM~M~~mom~~~~~~~womm~ M~~~M~WN~~~mm~m~~M~~~~NONmN~m~W~~~~~OO~~ WW~MmN~O~NmmN ~NW~mW~M~mm~~ 8 No~mMO~Nmm~mW~~~~WN~~~MM~~ ~~~~~mNNOM~~NmMNNmMmW~W~~N ~~~M~O~m~mm~M~WmNmWWM~~m~OO~~m~ONNmm~WW~ ~m~~~~~~~M~~M~M~m~~NW~~~N
8 M~N~~OWm~~~oo~ mWW~~~oOO~Om~N mO~NOO~~~~m~~M~MNNOm~NOMM

Q)

'C
Q)

C Q)

'C OOOOOOOOOOOOOOOOOOOOOOOOO~OOOOOOOOOOOOON
N~~OOOWOO~NOOOOO~OOOOOOOOOMOO~~OOOOOOOO~

<OM<O m... m'c8 "'<0 "-M

""""'~

w :=
'C 0
maM~m~~vmmm~~~~mm~m~~~vNNvm~mVN~vm~mv~~m v~mm~N~~
8 ~N~vm~~~ ~ammam~MV~~~a~m~M~m~~~aV~M~~a~~ aMN~~m~NmaNv~~mmN~vM~mMam~~v~m~

><

cO":

>a~~amaam~amvva~vmmmaa~~~~MmM~mmv~vv~a~~~
~m~~vMm~aMa~mNNNmN~~mMam~mNNv~~NM~~~~~~~ MMNmvV~M~~vm~~av~~~a~m~mMN~~~aN~maavavaN ma~~aaM~~MNa~M~~maam~~aamaNMN~~a~N~VMa~~ N~~aaa~aaaNaaaaaaaaaaaaaaaMaaa~aaaaaaaaaOOOOOOOOOOOOOOOOOOOOOOOO~OOOOOOOOOOOOOON Q)OM

u
><
>:=
'C 0
mM~~~~m~~~MW~OOOOM~~WOO~MO~Mm~WW~MWWOOO~WMM NOWOO~~~m~~~WM~M~~OOWM~~m~N~~WNNOOO~ON~~~~N ~OO~~~OON~MMO~NN~OOOOW~~WO~OOOO~NOOM~OMm~~W~M~ O~OOOOOWNNONWmW~W~~OOmNmmMN~O~~~~~NNM~~~OO~~ ~N~mNOmO~~WOM~mmN~~Wm~Oo~OO~~~OMOOOO~~OO~~~M oo

E E
~m~~oooN~N~o~m~~~~oo~OO~~MNw~""m~ ~ O~OO~~~~W~~MO~~OO~~~ONNOMM~JWO N~~OOOWOOOMOOOOO~OOOOOOOOOMOOO~OO~ooooom

8~ MN 8~ w 8 o~m~m~ ~~NOOW 1D~...0.n..: aaaaaaaaaaaaaaaaa6aa66a~66aa66a666a66a6~

u
... 0
N~~aw~a~MmM~m~mmNaa~M~w~~~a~N~~N~~mw~m~N ~~m~~MNa~m~Nwam~~m~~NM~aa~~MmMww~~m~wN~m NamNa~~~ 8 M~amam~~Nw~~ma~N~Nw~N~m~~M~~Na~ ~~am~~M~ ~~~N~m~~~MwN~~mNm~wmmm~~a~~m~wm ww~~waa~~m~N~~mma~w~~m~Mamm~ammm~m~wMmm~ mNw~~mmmm~~aNNa~~~~aMm~mwNM~~~M

u
~~NNaa~~~wwN~M~N~aam~~~aMaM~N~~ M~~aaawaaaNaaaaa~aaaaaaaaaMaaN~aaaaa~aaa

01()

cn

Q)

~~
aaa~wa~w
WN~~N~~m

OOOOOOOOOOOOOOOOOOOOOO~OOOOOOOOOOOOOOOON

~om~WM~V~WN~MmOVW~Mom~w~m~v~~~~~mv~~~~~~ mmW~MWm~m~OWN~~MVW~~~~m~N~~~~~mWMVOWmMNm ~WV~OmMmWNMN~m~M~~W~m~NV~mmVM


NW~m~~O~N~~mvWVVMW~~~NN~~~NmN

~M~ONW~O~~ oo~~WmmmNW
:8f6

M~mvv
N~NV~~WM~OO~~W~M~MOmNm~~~mOMm~MVVmOm~~~N

~~w~w~om~o~~~om~

~~~~O

~~OVNO~VO~~OO~O~

Mw~w~~m~~~~~ovo~w ~NOOMNM~MVMOMM~O~

NOOOOOVOOOMOOOOOOOOOOOOOOOVOOOOOOOOOOOOM

OOOOOOOOOOOOOOOOOOOOO~OOOOOOOOOOOOOOOOO~

"-Q)

wororowmwMN~~o~~romo~ro~oo~~M~NmNM~ro~~roNwroNO ~roMN~OroN~MOro~~N~WN~~~~~Mwro~~mM~~Nm~~~NNN

co"'!'-

w~romm~mro~mMro~~Nro~rom~~Nwow~MNroo~N~m~mN~~m
~MOMM~~~M~~romNN~~mmWNNWN~MM~~WNMW~~WWMWm
O~W~~Ow~W~WWm~N~MmM~mmm~~WMW~WW~~~~~mN~~ ~~M~~~~mON~m~~mNW~~NOW
~~~~OO~W~N~O~~O~WOO~~~

~~
~~NN~roM
~~OMM~~ 8 ~N~mO~MW~ O~~O~NOO~

"'~~

m!'-

OOOOOOOOOOOOOOOOOOOO~OOOOOOOOOOOOOOOOOO~

M~NOOOmOOOMOOOOOOOOOOOOOOOMOOO~OOOOOOOom

.,;..:

8~ ma

I" "'
coo

"'0) """

"'M

"'Q)(\J ~'" Q)(\J

an":

...m~ "'~N

~o",

C')~

re~

C')~

cO":

OJ,,,,,, """",

8~

107

~-~~ O~ 00 --0 ~
.~~~~~NOM.~.O~N~~~O-O~~M~~M~NM~~N~-~~~.~ _NN ~NNN_MN M.-MNMMNM -NM~NM~~MM

O~NM.~~~~~O-NM.~~~~~O~NM.~~~~~O -NM.~~~~~~~-~~__~~~NNNNNNNNNNMMMMMMMMMM.

c .-' tU : aJlI:

a:
-I
~~~v~ow~~~~w~mONw~N~~~~~VM~~Nwvm~~~NV~O~ MM~OV~~Vvv~~~mV~MmM~~~~~W~~OmW~VMOW~~~NW

5 ,.

u.
M~M~NWOVM~~O~~ON~N~MMN~W~m~~~mNMV~OmM~V~ V~MNOW~~NVVNVW~O~NmNW~OVmmOONWNm~M~~O~V~

~N~V~~WW~MM~WmMO~OOOVVMVN~wmmWVNOm~VNWM~ ~~~~~~~~~~~~~V~~~~~~~~N~~~~~~~~~~~~~~~~M
NO~OOOVOOONOOOOOOOOOOOOOOONOOOOOOOOOOOO~

.-

co co 0) 0
mmVVOOOO~MaNaOOOOOOMoomV~m~voo~ooa~voomaaooa~VVmMa oov~~~~~~mN~mmMN~OOM~M~V~~~~~N~~MVaM~~~MOOOO oom~NMNMN~~~ma~NoomOOOONN~N~N~M~VvNm~m~~mm~oo ~MMNvVM~Naooa~MN~N~~aM~~mN
8 Mv~~M ~~~~MMa~ Nam~v 8 mNNMMMOO~

W (.) e:.
8 W~wo~~~om~O~~~N~m~W~NO~~O~~~MW mmNM~~mmm m~NWm~~M~OwM~W~Ororoo~~~rowm~M~~N

m~~~ONN~~mNMm~~momMM~wmMN~w~mN~~~N~~mMW~ N~~~WMNN~WONMN~M~~~MN~mmM~OmmOO~N~W~W~m~ ~~OMw~m~OO~~~MMOOmWNo~mmm~W~~ONmN~NO~~m~ mMm~W~MNM

N~~~~~~~~~~~~~~~~~~~~~~M~~M~~~~~~~~~~~~~

~~~N~~N~~M~~~N~~~~~~~~~~~~~N~M~~M~~NN~~~

~ >< .~

~
MNMNaa~OO~NN~~M~~~aam~Naa~

ffi~R1 ,,~ CD'"


,,'" ",m

~
OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOON

M~~aaa~aaaNaaaaaaaaaaaaaaaMaaa~aaaaaaaav

";0

C <I>
0) C') NNN~OO~mmm~~m.OO~~M~M~~~~WMO.~~MNM~N~.~O mmM.~~~OW.~~o~~~m~~W~mONomWMW~WmNmM~NmWM.N~~.W~M~~~OOM~.mm~mNm~O~NW~NMm

'y :;
<I>

U
(/) ...

~O~NOON~~m~~~M~~OOOO~~O~MO~.W~O N~~OOOWOO~MOOOOONOO~OOOOOO.OOO~OOOOOOOOO 66666666666666666666666666666666666666~N


~&J
N~

8
~W~..O~O
mwo~ommw

",Nit) "'... mo

.0":

<I>

>
8 N~~MOO~m~N~~~M~~mOO~~~O~~O~mN~O ~~~OOO~~OONOOOOOOOOOOOOOOOMOOO~OOOOOOOOO ~~o~o~~~ ~N~~MOOO

<I>

'"
CX>

m~~~N~~~m~~~~~~m~NMOM~m~~m~~~omMmm~~~~o~ ~~~~m~MMNM~MNm~~~N~~~M~~~~O~Nm~M~O~m~Om~ mmmmOm~~NmNm~~Om~~~M~~OO~~M~N~M~O~N~m~~~ O~~~~~~~~~~NO~O~m~NmM~~O~NM~~~m

"""... N"'~

'C

6666666666666666666666666666666666666~6N

~~ 00
ui..:

>:c
0 to
CO)
8 aooavva~~NMaaN~vM~~N~m~oo~MN~aaoo 8 ~v~maM~~ ~~Naa~M~Nw~~M~~~aaoo~~aa~aNMN~~ w~~vMaa~

r-~~vmNW~vMvN~~mm~m~a~~wam~N~~~a MmaW~mmNm

<I> 'C C <I> ~~~~Maw~~amma~~~aM~wm~ma~Mwm~~


8 ~NWWM~NNa

>< w
w~~vNaa~

(Y)
~a~~awm~a~~NNN~~NvWN~~~M~a~~vMw~am~~~wv~ aN~mv~~~NM~~aNa~~w~~N~~~NM~ama~ ~~M~aaw~~NM~~M~~~aa~~~aa~aav~~~ ~~NaaamaaaNaaaaaaaaaaaaaaavaaa~aaaaaaaa~

8
aNawmM~~

~~I'-N

OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO"::OON

&J~ "'cO":

E E

~MoowoomMamwa~~MMm~vvooaOO~~MaNm~OOvw~v~~~N~~ oovvawMwN~mw~mwN~NN~vwmvNw~avamvvMm~~N~~m N~waaa~~v~~a~vamwMwwma~M~~oo~aoomoom~~avw~a

u
><
.~ 'C 0
LC) (')

0
M~~aaaw~aaNaaaaaaaaaaaaaaaMaaa~aaaaaaaa~ OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO~OOON

IDf8 mo

Ili~

>o
~ ~~~~~~~o~~~~~~~~~m~~m~~~~~~oo~~~~~~~mo mNN~O~~~N~~~O~~~N~~N~~OOOm~m~NOm~m~~~~~~

~~~~m~m~~~~m~~~N~~OO~N~~~~~~~mN~m~~~om

E E
ciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciciN

~~~~OONO~~~~m~N~~~Nm~mN~ ~N~m~~ ~~~~oo m~~~~~~~~mOO~~NOO~O~~~~~ ~~~OOO~OOONOOOOOOOOOOOOOOO~OOO~OOOOOOOOO

m~~~~~~~ ~~~~~OO~

MOO ~...'" "'~

~fR mo Iri~

u ...

0
'V
C')
N~~aaa~aa~Naaaaa~aaaaaaaa

OOOOV~MmvN~M~MmvMv~~v~OOMNvNmm~aooav~~oov~vOOv ~~vm~oooo~~~oomOO~Noo~v~~OOOOV~MMMN~m~maOOOO~MaVV ~Nv~M~~OO~OO~~~~Mam~~~Nvam~oo~mMoo~a~aV~~~moo oo~mvvv~Noo~~a~OO~~N~~a~~~~~Na~mMoo~~maMv~m~ ~aaNaa~~~~~~~M~~aaaoo~NaaN C') C')


~maamW~~Ma~~~N~Mw~~mmmmam~~ m~~Na~a~w~mw~wamNN~~mwaa~mmNmN~m~~WMMWN~ w~~a~~M~N~waaN~~M~~a~m~mNNm~~mM ~M~Naa~~~M~~~M~~maam~~aa~aMMN~~ M~~aaamaaaNaaaaaaaaaaaaaaaMaaa~aaaaaaaaa

Ol()(\j

001()
8 NMN~aa~N~vMaaoo

"'~(\j ~re
Maaa~aaaaaaaam

U <I> (/)

, 0 ~
waM~~mNN~mm~m~~N~~~wa~wmmm~

ooooooooooooooooooooooooooooooooo~ooooo~
8 mM~wm~NMmm~a NM~N~~MNamm~

.,;";

.cO

~~a

m~a~m
(o~~~N

.om
8 ~~ ~~

o~

OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO~OOOOOON

...m ~~
.o~

Mil)

C\I
CO)
NNMNaa~~~m~~~w~~~~am~Naa~

~wwwa~~wv~aaNM~~~~~~~~NNVwvmN~~~a~N~mm~~
~mmwNNV~wa~Na~~Ma~NNMmN~v~aN~N~Vw~~wvmm~ m~vm~wa~~aw~mmw~NMw~NN~~~a~a~M~a~~mV~~~~ ~~aN~vwaM~~Nva~m~~~~NM~~v
8 Nm~Mw~m~aNv~ ~MN~~aw~~~Ma m M

"'<O~ "'.~

00

M~~aaa~aaaNaaaaaaaaaaaaaaaMaaa~aaaaaaa

6666666666666666666666666666666~6666666N

1Z~ 00 ui..: "'aJM


"-M
8 ~MN~MM~m ~~~~MOOm

(t)
NNNNOOMm~NN~NM~~~OOm~NOO~ON~~~M

m~N~~~~~~Mm~~~~~MN~~m~Nm~N~Nm~mm~~mMN~~~ OMmN~~~~~m~M~~mmOO~NN~~~~~M~Nmm~ON~m~~mm m~mNm~~OMOmMO~m~O~mMO~NmO~M~~m~m~ON~OmmM ~Om~~~NMm~~mMm~mN~~mMO~mNMmOm~o

0>'" N'"
O>M
N~

M~~OOO~OOONOOOO~OOOOOOOOOOMOOO~OOOOOOOOM

~ ~

OOOOOOOOOOOOOOOOOOOOOOOOOOOOOO~OOOOOOOON
~NMV~~~~mO~NMV~~~~mO~NMv~~~~mO~NMV~~~~mo ~~~~~~~~~~NNNNNNNNNNMMMMMMMMMMV

<O~
~

: In a:

.-'

(U

108

"'...'" : o...~

M~.om~oom~~w~m~MNMMM.WNwmW~WO~M~.~.MMNO.

You might also like