Pub Date : 2023-12-01DOI: 10.1177/13548166231219638
Alejandro Alcalá-Ordóñez, Verónica Segarra
After the publication of a significant number of papers analyzing the tourism-led growth hypothesis (TLGH), a new line has arisen within the scientific literature, which attempts to analyze the capacity of tourism as an instrument of economic development, given that this concept has been widely linked to both economic aspects and socio-economic conditions of the resident population. Because of the new line mentioned, this work reviews 57 published articles (from 2005 to 2022) that examined the relationship between tourism and economic development. Specifically, the empirical results of the reviewed works suggest that tourism has positive effects on socio-economic development, acting as a tool that reduces poverty, lessens inequalities, and improves the living conditions of the resident population. In line with this, papers reviewed suggests different policy recommendations as promote access to financing, trade, campaigns for tourism or major relevance of public and private sector investments.
{"title":"Tourism and economic development: A literature review to highlight main empirical findings","authors":"Alejandro Alcalá-Ordóñez, Verónica Segarra","doi":"10.1177/13548166231219638","DOIUrl":"https://doi.org/10.1177/13548166231219638","url":null,"abstract":"After the publication of a significant number of papers analyzing the tourism-led growth hypothesis (TLGH), a new line has arisen within the scientific literature, which attempts to analyze the capacity of tourism as an instrument of economic development, given that this concept has been widely linked to both economic aspects and socio-economic conditions of the resident population. Because of the new line mentioned, this work reviews 57 published articles (from 2005 to 2022) that examined the relationship between tourism and economic development. Specifically, the empirical results of the reviewed works suggest that tourism has positive effects on socio-economic development, acting as a tool that reduces poverty, lessens inequalities, and improves the living conditions of the resident population. In line with this, papers reviewed suggests different policy recommendations as promote access to financing, trade, campaigns for tourism or major relevance of public and private sector investments.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" 9","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138609978","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-12-01DOI: 10.1177/13548166231218765
E. De Simone, Mara Giua, Cristina Vaquero‐Piñeiro
This paper investigates the influence of accreditations on tourism demand, namely, World Heritage List (WHL) designations and Geographical Indications (GIs). The analysis examines Italian data at the NUTS3 level spanning from 1999 to 2019. Contribution of the study is two-fold. Firstly, by utilizing a Difference-in-Differences model in conjunction with Propensity Score Matching (PSM-DiD), the study evaluates the impact of jointly recognizing both accreditations as a binary treatment (yes/no). Secondly, by employing Generalised Propensity Score Matching (GPSM) for continuous treatment, the study gauges how the impact of the two accreditations is contingent on the number of recognitions (consistency). These impact assessments concern both domestic and international tourists. Conclusions highlight the positive effects, encompassing tourism arrivals, overnight stays, and tourist expenditures, associated with both the combined recognition (PSM-DiD) and the consistency of accreditation (GPSM). These findings support the implementation of place-based policies promoting diverse local assets, notably cultural heritage and agri-food excellence.
{"title":"Eat, visit, love. World heritage list and geographical indications: Joint acknowledgement and consistency as drivers of tourism attractiveness in Italy","authors":"E. De Simone, Mara Giua, Cristina Vaquero‐Piñeiro","doi":"10.1177/13548166231218765","DOIUrl":"https://doi.org/10.1177/13548166231218765","url":null,"abstract":"This paper investigates the influence of accreditations on tourism demand, namely, World Heritage List (WHL) designations and Geographical Indications (GIs). The analysis examines Italian data at the NUTS3 level spanning from 1999 to 2019. Contribution of the study is two-fold. Firstly, by utilizing a Difference-in-Differences model in conjunction with Propensity Score Matching (PSM-DiD), the study evaluates the impact of jointly recognizing both accreditations as a binary treatment (yes/no). Secondly, by employing Generalised Propensity Score Matching (GPSM) for continuous treatment, the study gauges how the impact of the two accreditations is contingent on the number of recognitions (consistency). These impact assessments concern both domestic and international tourists. Conclusions highlight the positive effects, encompassing tourism arrivals, overnight stays, and tourist expenditures, associated with both the combined recognition (PSM-DiD) and the consistency of accreditation (GPSM). These findings support the implementation of place-based policies promoting diverse local assets, notably cultural heritage and agri-food excellence.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":" 37","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138613593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-27DOI: 10.1177/13548166231214573
Daniel Thiel, Erick Leroux, Emmanuel Labarbe
In order to reduce overtourism and traffic congestion, local authorities may have to divert recreational vehicle traffic to off-site service areas. The problem that will arise is how best to accommodate different types of users with opposing preferences in the same area, some wanting to be as close as possible to the major site to be visited, others seeking peace and quiet. We have represented their specific attitudes using a two-stage decision-making process via a conjunctive model followed by a compensatory model. We then propose to model three strategies, seeking either to optimise customer attractiveness, or profit, or space occupation, in order to define a location, capacity and price for this shared area. Using a realistic data set, the results show that economic performance follows a concave curve as a function of the population mix. Moreover, only the strategy of maximising attractiveness suggests always mixing users in the same area.
{"title":"Optimizing shared recreational vehicle service areas: A multi-strategy approach for economic performance and user satisfaction","authors":"Daniel Thiel, Erick Leroux, Emmanuel Labarbe","doi":"10.1177/13548166231214573","DOIUrl":"https://doi.org/10.1177/13548166231214573","url":null,"abstract":"In order to reduce overtourism and traffic congestion, local authorities may have to divert recreational vehicle traffic to off-site service areas. The problem that will arise is how best to accommodate different types of users with opposing preferences in the same area, some wanting to be as close as possible to the major site to be visited, others seeking peace and quiet. We have represented their specific attitudes using a two-stage decision-making process via a conjunctive model followed by a compensatory model. We then propose to model three strategies, seeking either to optimise customer attractiveness, or profit, or space occupation, in order to define a location, capacity and price for this shared area. Using a realistic data set, the results show that economic performance follows a concave curve as a function of the population mix. Moreover, only the strategy of maximising attractiveness suggests always mixing users in the same area.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"45 1","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139235072","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-17DOI: 10.1177/13548166231215382
Puneet Vatsa, Faruk Balli
Tourism demand theory postulates that tourists’ incomes, prices in destination countries, and prices in tourists’ countries of origin are key determinants of tourism demand—but must this hold for long-haul travel? We find the answer to be no. By analyzing three international tourist archetypes arriving in New Zealand, a remote island nation, from seven countries, we demonstrate that neither incomes nor prices affect tourism demand in the short run. In the long run, some evidence suggests that tourism demand is income-sensitive; however, it remains insensitive to price changes. We also show that estimates of price elasticities are sensitive to how models are specified and should be interpreted cautiously. The results of this study are broadly relevant to long-haul destinations worldwide.
{"title":"How important are prices in long-haul travel? Evidence from New Zealand","authors":"Puneet Vatsa, Faruk Balli","doi":"10.1177/13548166231215382","DOIUrl":"https://doi.org/10.1177/13548166231215382","url":null,"abstract":"Tourism demand theory postulates that tourists’ incomes, prices in destination countries, and prices in tourists’ countries of origin are key determinants of tourism demand—but must this hold for long-haul travel? We find the answer to be no. By analyzing three international tourist archetypes arriving in New Zealand, a remote island nation, from seven countries, we demonstrate that neither incomes nor prices affect tourism demand in the short run. In the long run, some evidence suggests that tourism demand is income-sensitive; however, it remains insensitive to price changes. We also show that estimates of price elasticities are sensitive to how models are specified and should be interpreted cautiously. The results of this study are broadly relevant to long-haul destinations worldwide.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"521 2","pages":""},"PeriodicalIF":4.4,"publicationDate":"2023-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139262716","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-10DOI: 10.1177/13548166231212244
Dinesh Jaisinghani, Muskan Kaur, Mahesh Joshi, Sharad Sharma, Abdullahi D Ahmed
This paper analyzes the nonlinear impact of political risk and economic development on tourism revenues. A dynamic threshold panel model is applied to a sample of 119 countries over 8 years. A positive association between economic development and tourism revenues is identified. The results also show that the impact of improvements in political stability on growth in tourism revenues is dependent on the current level of economic development. For highly developed countries, increased political stability does not impact tourism revenues. However, there is a significant positive impact of improved political stability on tourism revenues for less-developed countries.
{"title":"Impact of political risk and economic growth on the tourism industry: Evidence from a dynamic threshold panel model","authors":"Dinesh Jaisinghani, Muskan Kaur, Mahesh Joshi, Sharad Sharma, Abdullahi D Ahmed","doi":"10.1177/13548166231212244","DOIUrl":"https://doi.org/10.1177/13548166231212244","url":null,"abstract":"This paper analyzes the nonlinear impact of political risk and economic development on tourism revenues. A dynamic threshold panel model is applied to a sample of 119 countries over 8 years. A positive association between economic development and tourism revenues is identified. The results also show that the impact of improvements in political stability on growth in tourism revenues is dependent on the current level of economic development. For highly developed countries, increased political stability does not impact tourism revenues. However, there is a significant positive impact of improved political stability on tourism revenues for less-developed countries.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"123 11","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135136851","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-06DOI: 10.1177/13548166231211250
Augusto Hasman, Stefano Borzillo
In this paper, we analyze the factors that have determined why certain companies in the hospitality industry managed to buffer themselves from the effects of COVID-19 more consistently than others. In particular, we focus on downside risk measures. We found that hotel companies quoted in the United States were the most affected and that investors were less willing to hold shares in those companies during the pandemic. We also observe that, although hotels obtained lower returns during the period of analysis, restaurants were more affected by extreme events.
{"title":"The hospitality industry and COVID-19: Stock price crash risk","authors":"Augusto Hasman, Stefano Borzillo","doi":"10.1177/13548166231211250","DOIUrl":"https://doi.org/10.1177/13548166231211250","url":null,"abstract":"In this paper, we analyze the factors that have determined why certain companies in the hospitality industry managed to buffer themselves from the effects of COVID-19 more consistently than others. In particular, we focus on downside risk measures. We found that hotel companies quoted in the United States were the most affected and that investors were less willing to hold shares in those companies during the pandemic. We also observe that, although hotels obtained lower returns during the period of analysis, restaurants were more affected by extreme events.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"30 7","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135589560","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-06DOI: 10.1177/13548166231212654
Stephen W Litvin
The 50 USA states each approached the challenges of COVID-19 as they felt best for their people and their economy. This research evaluates the impacts of the decisions made by the individual states as this relates to their hospitality and tourism industry. As the title of this paper suggests, those states making the hard decision to impose strict restrictions often found their tourism industry to have suffered most during the pandemic.
{"title":"USA states’ COVID policy impacts upon tourism: “Let no good deed go unpunished”","authors":"Stephen W Litvin","doi":"10.1177/13548166231212654","DOIUrl":"https://doi.org/10.1177/13548166231212654","url":null,"abstract":"The 50 USA states each approached the challenges of COVID-19 as they felt best for their people and their economy. This research evaluates the impacts of the decisions made by the individual states as this relates to their hospitality and tourism industry. As the title of this paper suggests, those states making the hard decision to impose strict restrictions often found their tourism industry to have suffered most during the pandemic.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"21 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135589532","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-31DOI: 10.1177/13548166231209365
Chandan Sharma
This research looks at how plausible the tourism-led growth hypothesis is in the midst of corruption and political unpredictability. For empirical investigation, we utilize panel data from 1995 to 2018 for across the world. A dynamic panel data estimation method is employed for the estimation purpose. The outcomes of our analysis show that tourism-led growth is a phenomenon, but this is contingent on institutional factors. Specifically, high levels of corruption, political instability, and violence pose a significant barrier to beneficial effects of tourism on economic prosperity. We also employ panel quantile regression to estimate the asymmetric effects of tourism. Results of the analysis show that tourism is particularly beneficial for low-income economies. However, results also confirm that institutional factors such as corruption and political instability prevent countries, especially developing nations, from taking advantage of tourism.
{"title":"Good and bad effects of corruption and political uncertainty on tourism-growth linkage: World-wide evidence","authors":"Chandan Sharma","doi":"10.1177/13548166231209365","DOIUrl":"https://doi.org/10.1177/13548166231209365","url":null,"abstract":"This research looks at how plausible the tourism-led growth hypothesis is in the midst of corruption and political unpredictability. For empirical investigation, we utilize panel data from 1995 to 2018 for across the world. A dynamic panel data estimation method is employed for the estimation purpose. The outcomes of our analysis show that tourism-led growth is a phenomenon, but this is contingent on institutional factors. Specifically, high levels of corruption, political instability, and violence pose a significant barrier to beneficial effects of tourism on economic prosperity. We also employ panel quantile regression to estimate the asymmetric effects of tourism. Results of the analysis show that tourism is particularly beneficial for low-income economies. However, results also confirm that institutional factors such as corruption and political instability prevent countries, especially developing nations, from taking advantage of tourism.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"53 8","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135813184","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-26DOI: 10.1177/13548166231208471
Narasingha Das, Partha Gangopadhyay, Cem Işık, Rafael Alvarado, Munir Ahmad
The purpose of this research note is to investigate the nexus between volatility in international tourist arrivals, volatility in foreign aids and gross domestic product (GDP) volatility in Cambodia over the period of 1993–2018 by using partial and vector coherence wavelet models. The partial wavelet coherence models show that volatility in tourist arrival has strong impacts on GDP volatility across all time and frequency domains. Secondly, we find from the vector wavelet coherence plots strong and significant coherence between GDP volatility and volatility in overseas development assistance to Cambodia across all time and frequency domains.
{"title":"Do volatilities in tourism arrivals and foreign aids matter for GDP volatility in Cambodia? Partial and vector coherence wavelet models","authors":"Narasingha Das, Partha Gangopadhyay, Cem Işık, Rafael Alvarado, Munir Ahmad","doi":"10.1177/13548166231208471","DOIUrl":"https://doi.org/10.1177/13548166231208471","url":null,"abstract":"The purpose of this research note is to investigate the nexus between volatility in international tourist arrivals, volatility in foreign aids and gross domestic product (GDP) volatility in Cambodia over the period of 1993–2018 by using partial and vector coherence wavelet models. The partial wavelet coherence models show that volatility in tourist arrival has strong impacts on GDP volatility across all time and frequency domains. Secondly, we find from the vector wavelet coherence plots strong and significant coherence between GDP volatility and volatility in overseas development assistance to Cambodia across all time and frequency domains.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"119 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136376105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-20DOI: 10.1177/13548166231207132
Victor Oluwafemi Olorunsola, Mehmet Bahri Saydam, Hasan Evrim Arici, Mehmet Ali Köseoglu
The tourism and hospitality (T&H) industry can significantly impact the environment by using natural resources and waste generation. Measuring and improving firms’ emission performance in this industry is becoming increasingly important. However, the prediction of financial indicators and governance scores on firms’ emission performance is still poorly established. Drawing on the agency and stakeholders’ theory, our research explores whether financial indicators and governance scores predict firms’ emission performance in the T&H industry. Data on all companies that are publicly traded was acquired from Thomson Reuters Eikon using 485 publicly traded tourism firms as of the end of the fiscal year 2021. Our findings suggest that governance pillar score (GP), management score (MS), board size (BS), and market capitalization (MC) are the best four predictors of carbon emission reduction scores in T&H companies. Theoretical and practical implications are presented, and directions for further research are provided.
{"title":"The predictive roles of financial indicators and governance scores on firms’ emission performance in the tourism and hospitality industry","authors":"Victor Oluwafemi Olorunsola, Mehmet Bahri Saydam, Hasan Evrim Arici, Mehmet Ali Köseoglu","doi":"10.1177/13548166231207132","DOIUrl":"https://doi.org/10.1177/13548166231207132","url":null,"abstract":"The tourism and hospitality (T&H) industry can significantly impact the environment by using natural resources and waste generation. Measuring and improving firms’ emission performance in this industry is becoming increasingly important. However, the prediction of financial indicators and governance scores on firms’ emission performance is still poorly established. Drawing on the agency and stakeholders’ theory, our research explores whether financial indicators and governance scores predict firms’ emission performance in the T&H industry. Data on all companies that are publicly traded was acquired from Thomson Reuters Eikon using 485 publicly traded tourism firms as of the end of the fiscal year 2021. Our findings suggest that governance pillar score (GP), management score (MS), board size (BS), and market capitalization (MC) are the best four predictors of carbon emission reduction scores in T&H companies. Theoretical and practical implications are presented, and directions for further research are provided.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"45 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135567607","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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