This book offers students an accessible and applied introduction to microeconomics in tourism and hospitality through a comprehensive analysis of the market mechanism, demand and supply, firm behavior and strategy, and transaction and institution. This book not only helps students to master core microeconomic theories that are essential for understanding the tourism and hospitality industry, but, more importantly, it guides students to analyze consumer behavior and firm strategy specific to the industry. Throughout the book, readers are guided to develop the economic analysis of tourism and hospitality that progresses from economic intuition to graphical representation and to mathematical quantification. Carefully corralled case studies showcase the applications of key microeconomic theories in solving a wide range of real-world problems, including Uber’s surge pricing, Airbnb’s supply adjustment, and McDonald’s and Burger King vying for prime locations. This book is written in an accessible style, illustrated with exquisite diagrams, and enriched with a range of other features, such as chapter summaries, review questions, and further readings to aid readers’ further understanding. By reading this book, students will be able to develop an economist’s way of thinking, which will enable them to analyze tourism and hospitality businesses in a rigorous and critical manner. This book is essential reading for all tourism and hospitality students and teachers.
Economic Principles for the Hospitality Industry is the ideal introduction to the fundamentals of economics in this dynamic and highly competitive sector. Applying economic theory to a range of diverse and global hospitality industry settings, this book gives the theory real-world context. Looking at critical issues around sustainable economic development in the hospitality industry such as diversification, technology, determinants of demand, and pricing, it enables students to effectively conduct business analyses, evaluate business performance and conduct effective improvements over time. Written in an engaging style, this book assumes no prior knowledge of economics and contains a range of features, including international case studies and discussion questions, to aid beginners in the subject. This will be an essential introductory yet comprehensive resource on economics for all hospitality students.
Cullen introduces the applications of economic concepts in hospitality management and within hospitality organisations, showing the development of policy through identification, evaluation, planning, implementation and outcome appraisal.
Behavioral Economics for Tourism applies behavioral perspectives to business and policy challenges in the tourism industry. The book enables professionals and early career researchers to succeed by focusing on market and consumer trends, technological advancements, and the modern tourist. It covers the transformation of purchasing decisions, tourism hosting dynamics, digital mediation and disintermediation of tourism organizations, service design, and planning policy considerations. The volume concludes with case studies illustrating successful and unsuccessful behavioral tactics and strategies for tourism businesses and organizations. - Provides behavioral profiling of the digitally-informed, mobile, self-managed tourist - Allows the tourism industry to better understand tourists, both cognitively and emotionally - Supports business success, technology development and sustainability in the tourism industry - Features case studies on behavioral tactics and strategies for use in tourism
The measurement of tourism, for example analysing competitiveness and evaluating tourism projects, is not an easy task. Now in its third edition, The Economics of Tourism Destinations: Theory and Practice provides a succinct guide to the economic aspects of tourism for students and practitioners alike to decipher the methods of measurement of supply, demand, trends and impacts. This new edition has been revised and updated to include: Three new chapters: Tourism as a development strategy, Tourism export-led growth, and a dedicated chapter on Macro-evaluation of tourism projects and events, including the travel cost method and the contingent valuation method. New case studies from emerging destinations in Asia, Australia and America to show theory in practice. New and updated data throughout. Each chapter combines theory and practice and is integrated with international case studies. Combining macro- and micro-aspects of economics to the tourism destination, this is an invaluable resource for students learning about this subject, as well as being aimed at tourism researchers and policy-makers.
The measurement of tourism is not an easy task. In the last decade there has been a growing interest in the tourism world in new methods to measure demand and supply of tourism. Fully revised and updated, the second edition of The Economics of Tourism Destinations provides a succinct guide to the economic aspects of tourism for students and practitioners alike to decipher the methods of measurement of supply, demand, trends and impacts. This book emphasizes new aspects such as measurement of tourism (e.g. Tourism Satellite Account), supply trends, competition models, macro evaluation of tourism projects and events and the role of tourism in a development strategy. Each chapter combines theory and practice and international case studies are provided.
Tourism Economics and Policy combines a comprehensive treatment of economic concepts and applications in tourism contexts. Topics include tourism demand and forecasting, tourism supply and pricing, measuring the impacts and benefits of changes in tourism demand, tourism investment and infrastructure, tourism taxation, aviation, tourism and the environment (including climate change) and destination competitiveness. The text provides an excellent basis for students to appreciate the relevance of economic analysis to the solution of real life tourism issues and as an input into tourism policy formulation.
"The publication of the second edition of The Economics of Tourism is a timely contribution to the theory and practice of tourism. The book retains both the rigour and relevance to the study of tourism as the original text which is considered to be the gold standard of tourism economics and is a must for those who study and undertake research into tourism from economic, environmental and social perspectives." Professor Haiyan Song, The Hong Kong Polytechnic University, HK "This Second Edition is a "Wikipedia" of tourism economic research and strategic thinking and a must read for academic, corporate and policy thinkers. It builds on the earlier solid economic analysis of the sector to reflect contemporary geopolitical and socioeconomic issues. Going beyond a globalizing, poverty divided world to one where climate, population, resources and the green economy are dominant issues. We are proud of its genesis and continuing association with TTRI." Professor Geoffrey Lipman, University of Nottingham, UK
This book offers students an accessible and applied introduction to microeconomics in tourism and hospitality through a comprehensive analysis of the market mechanism, demand and supply, firm behavior and strategy, and transaction and institution. This book not only helps students to master core microeconomic theories that are essential for understanding the tourism and hospitality industry, but, more importantly, it guides students to analyze consumer behavior and firm strategy specific to the industry. Throughout the book, readers are guided to develop the economic analysis of tourism and hospitality that progresses from economic intuition to graphical representation and to mathematical quantification. Carefully corralled case studies showcase the applications of key microeconomic theories in solving a wide range of real-world problems, including Uber’s surge pricing, Airbnb’s supply adjustment, and McDonald’s and Burger King vying for prime locations. This book is written in an accessible style, illustrated with exquisite diagrams, and enriched with a range of other features, such as chapter summaries, review questions, and further readings to aid readers’ further understanding. By reading this book, students will be able to develop an economist’s way of thinking, which will enable them to analyze tourism and hospitality businesses in a rigorous and critical manner. This book is essential reading for all tourism and hospitality students and teachers.
This book provides a comprehensive introduction to travel marketing, tourism economics and the airline product. At the same time, it provides an overview on the political, socio-economic, environmental and technological impacts of tourism and its related sectors.This publication covers both theory and practice in an engaging style, that will spark the readers’ curiosity. Yet, it presents tourism and airline issues in a concise, yet accessible manner. This will allow prospective tourism practitioners to critically analyze future situations, and to make appropriate decisions in their workplace environments. Moreover, the book prepares undergraduate students and aspiring managers alike with a thorough exposure to the latest industry developments. “Dr. Camilleri provides tourism students and practitioners with a clear and comprehensive picture of the main institutions, operations and activities of the travel industry.” Philip Kotler, S.C. Johnson & Son Distinguished Professor of International Marketing, Kellogg School of Management, Northwestern University, Evanston/Chicago, IL, USA “This book is the first of its kind to provide an insightful and well-structured application of travel and tourism marketing and economics to the airline industry. Student readers will find this systematic approach invaluable when placing aviation within the wider tourism context, drawing upon the disciplines of economics and marketing.” Brian King, Professor of Tourism and Associate Dean, School of Hotel and Tourism Management, The Hong Kong Polytechnic University, Hong Kong “The remarkable growth in international tourism over the last century has been directly influenced by technological, and operational innovations in the airline sector which continue to define the nature, scale and direction of tourist flows and consequential tourism development. Key factors in this relationship between tourism and the airline sector are marketing and economics, both of which are fundamental to the success of tourism in general and airlines in particular, not least given the increasing significance of low-cost airline operations. Hence, uniquely drawing together these three themes, this book provides a valuable introduction to the marketing and economics of tourism with a specific focus on airline operations, and should be considered essential reading for future managers in the tourism sector.” Richard Sharpley, Professor of Tourism, School of Management, University of Central Lancashire, UK “The book's unique positioning in terms of the importance of and the relationships between tourism marketing, tourism economics and airline product will create a distinct niche for the book in the travel literature.” C. Michael Hall, Professor of Tourism, Department of Management, Marketing and Entrepreneurship, University of Canterbury, Christchurch, New Zealand “A very unique textbook that offers integrated lessons on marketing, economics, and airline services. College students of travel and tourism in many parts of the world will benefit from the author's thoughtful writing style of simplicity and clarity.” Liping A. Cai, Professor and Director, Purdue Tourism & Hospitality Research Center, Purdue University, West Lafayette, IN, USA “An interesting volume that provides a good coverage of airline transportation matters not always well considered in tourism books. Traditional strategic and operational issues, as well as the most recent developments and emerging trends are dealt with in a concise yet clear and rational way. Summaries, questions and topics for discussion in each chapter make it a useful basis for both taught courses or self-education.” Rodolfo Baggio, Professor of Tourism and Social Dynamics, Bocconi University, Milan, Italy “This is a very useful introductory book that summarises a wealth of knowledge in an accessible format. It explains the relation between marketing and economics, and applies it to the business of airline management as well as the tourism industry overall.” Xavier Font, Professor of Sustainability Marketing, School of Hospitality and Tourism Management, University of Surrey, UK and Visiting Professor, Hospitality Academy, NHTV Breda, Netherlands “This book addresses the key principles of tourism marketing, economics and the airline industry. It covers a wide range of theory at the same time as offering real-life case studies, and offers readers a comprehensive understanding of how these important industries work, and the underpinning challenges that will shape their future. It is suitable for undergraduate students as well as travel professionals, and I would highly recommend it.” Clare Weeden, Principal Lecturer in Tourism and Marketing at the School of Sport and Service Management, University of Brighton, UK “In the current environment a grasp of the basics of marketing to diverse consumers is very important. Customers are possessed of sophisticated knowledge driven by innovations in business as well from highly developed technological advances. This text will inform and update students and those planning a career in travel and tourism. Mark Camilleri has produced an accessible book, which identifies ways to accumulate and use new knowledge to be at the vanguard of marketing, which is both essential and timely.” Peter Wiltshier, Senior Lecturer & Programme Leader for Travel & Tourism, College of Business, Law and Social Sciences, University of Derby, UK “This contemporary text provides an authoritative read on the dynamics, interactions and complexities of the modern travel and tourism industries with a necessary, and much welcomed, mixture of theory and practice suitable for undergraduate, graduate and professional markets.” Alan Fyall, Orange County Endowed Professor of Tourism Marketing, University of Central Florida, FL, USA
