World Regions – Follows the United Nations World Tourism Guidelines. There are four world regions which are divided into 15 sub-continents as follows:
- Americas (North America, South America, Central America, Caribbean);
- Asia Pacific (Central & South Asia, Northeastern Asia, Southeastern Asia, Australia & Oceania);
- Europe (Northern Europe, Southern Europe, Eastern Europe, Western Europe); and
- Middle East/Africa (Middle East, Northern Africa, Southern Africa)
Write-Down – Reducing the book value of an asset because it’s overvalued compared to the market value. This is usually reflected in a company’s income statement as an expense, reducing net income.
Zero-Hour Contract – A type of United Kingdom employment contract where employees have no guaranteed hours of work but must agree to be potentially available, although they are not obliged to accept any employment. This type of contract increased during the past recession.