HOW DID LENDING CHANGE AS BASEL III CAPITAL AND LIQUIDITY REQUIREMENTS WERE INTRODUCED?
As for most individuals who are in the process of choosing a holiday destination the process can be accompanied by high levels of uncertainty. This is due to the fact that one of the main characteristics of a holiday is that it is intangible (Nielson, 1970). In the next section the challenges of choosing a holiday destination will be discussed and in turn highlighting the need for the travel planning process but also the need for the recommendations and opinions of others.
2.2.1 The difficulties of choosing a holiday destination
One of the difficulties of choosing a holiday destination is related to the complexities of buying something that is said to be intangible. Purchasing a holiday package or choosing a destination is-a-kin to the choosing of specific service. Due to the nature of services and their unique characteristic of being intangible and inseparable it makes it difficult for the end user or consumer to evaluate the product as no prior test can be conducted (Zeithaml, 1988). Unlike services, tangible products are high in search qualities. These are qualities that can be assessed prior to purchase such as an items colour, feel, function & and even its smell (Ford et al, 1988). These qualities combined effect the consumers perception of the product before purchasing allowing them to be more sure of their purchasing decision. The same cannot be said for services on the other hand. Services are high in experience qualities. Experience qualities relate to services whereby their attributes cannot be gauged until during or after the se
