The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period 1980-2002. We introduce an instrument for tourism based on the UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and economic growth. An increase of one standard deviation in the share of tourism in exports leads to about 0.5 percentage point in additional annual growth, everything else being constant. Our result holds against a large array of robustness checks.
For many countries tourism is an industry of great economic significance; it is seen as a main instrument for regional development, as it stimulates new economic activities. Tourism may have a positive economic impact on the balance of payments, on employment, on gross income and production, but it may also have negative effects, particularly on the environment. Questions arise as to whether it is possible to keep on developing tourism in a certain area without negative or irreversible influences on the environment. Tourism and Sustainable Economic Development provides a theoretical framework for these problems, as well as practical illustrations on the following topics: the conditions under which specialization in tourism is not harmful for economic growth; the trade-offs, if any, between tourism development and economic growth; the need for government intervention and the various policy options and instruments available to policy makers. The book comprises two parts. The first part presents general views on tourism and sustainable economic development, and some opinions on the relationship between tourism and the environment. Some of the basic concepts implicit in sustainability are examined in relation to regional development, urban tourism, art cities, and rural tourism. The second part of the book concentrates on strategies and policy instruments. The purpose is to concisely define and bring together some policies which appear to be necessary, and whose implementation is required if we are to reconcile tourism development with the protection and conservation of the environment. Some analytical tools for policy making with regard to tourism and the environment are developed. As will become clear, there are many gaps in our knowledge that need to be filled if we are to be successful in controlling tourism in a way that puts this important industry onto a sustainable development path.
The book aims at providing an overview of the main economic issues related to tourism activities. While tourism is an important sector, contributing to more than 10% of the European Union’s GDP, research and teaching at the university level has only recently grown to a considerable level, and the field still lacks a firm research methodology. This book approaches tourism economics as an applied field of study in which tourism markets are represented as imperfect markets, with asymmetric and incomplete information among agents, bounded rationality, and with a strong presence of externalities and public goods. The economic issues studied in the book are approached both intuitively, largely using examples and case studies, and formally, with mathematical formalizations in text boxes.
"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 Special Issue addresses relations between tourism activities, smart specialization strategies, and sustainable development at different territorial levels, including the local, regional, national, and international. Framed by appropriate conceptual frameworks to define the contemporary dynamics of innovation in tourism, case studies supported by advanced quantitative methods and developed in rural and urban areas of Asia, Europe, and Africa are presented and discussed. The concept of smart specialization inspires the formulation of regional innovation policies and strategies, emphasizing the importance of endogenous resources and existing territorial capabilities. By exploring the diversity and variety of each economy to develop inter-sectoral relations, this approach aims at promoting the creation of spillover effects of innovation processes supported by adequate key enabling technologies, potentially leading to the sustainable development of places, regions, and countries. As an activity that mobilizes contributions from different economic sectors, tourism may play a central role in such strategies. As described and discussed in this Special Issue, aspects related to the creative sectors of economies, information and communication technologies, traditional products and lifestyles, food production, or diverse cultural values can be mobilized to generate innovative and sustainable solutions for tourism development.
This insightful volume delves into the intricate relationship between economic growth and tourism effectiveness in China’s diverse regions. With a focus on practical insights and accessible language, this book is essential reading for policymakers, economists, and tourism professionals seeking to understand the dynamics of regional development. By emphasizing China’s unique experiences, the text offers valuable lessons applicable to regions worldwide. Engaging and concise, it navigates complex concepts with clarity, making it accessible to a global audience. Highlighting key trends and emerging theories, this work serves as a vital resource for anyone interested in the intersection of economic development and tourism efficiency.
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.
This Modern Guide captures the evolution of foundational tenets, theories, frameworks and models that buttressed tourism economics into an evolving discipline, shining light on both new and old approaches. It systematically examines current and future trends and issues related to new economic perspectives, consolidating the notion of tourism economics as a discipline.
"The strongest overview I have encountered of the scope and the current state of research across all the fields involved in advancing our understanding of tourism. For its range of topics, depth of analyses, and distinction of its contributors, nothing is comparable." - Professor Dean MacCannell, University of California, Davis "The breadth of vision and sweep of accounts is remarkable, and range of topics laudable... a rare combination of the authoritative, the challenging and stimulating." - Professor Mike Crang, Durham University Tourism studies developed as a sub-branch of older disciplines in the social sciences, such as anthropology, sociology and economics, and newer applied fields of study in hospitality management, civil rights and transport studies. This Handbook is a sign of the maturity of the field. It provides an essential resource for teachers and students to determine the roots, key issues and agenda of tourism studies, exploring: The evolution and position of tourism studies The relationship of tourism to culture The ecology and economics of tourism Special events and destination management Methodologies of study Tourism and transport Tourism and heritage Tourism and postcolonialism Global tourist business operations Ranging from local to global issues, and from questions of management to the ethical dilemmas of tourism, this is a comprehensive, critically informed, constructively organized overview of the field. It draws together an inter-disciplinary group of contributors who are among the most celebrated names in the field and will be quickly recognized as a landmark in the new and expanding field of tourism studies.
This unique and thoughtful book considers the tourism specialization, economic growth, and tourism competitiveness of a very specific type of tourism: small islands practicing warm water island tourism. This new book thoroughly examines the phenomenon of why some small island destinations have been more successful than others. The main premise applied is that success and survival of small island tourism hinges on resolving the mystery regarding the relationship between competitiveness and quality of life. In addressing this question, the book reviews four relevant and interconnected concepts: tourism, competitiveness, quality of life, and scale (or size). In doing so, the book enhances understanding of the potential of tourism for the improvement of the quality of life of the residents of small islands. In the last chapter of the book, the author assesses the impact of COVID-19 on tourism and specifically its ramifications for small island destinations. Whether small island populations can rise from beneath the COVID -19 burden that threatens their economic future is yet to be seen. Small Island and Small Destination Tourism: Overcoming the Smallness Barrier for Economic Growth and Tourism Competitiveness is written from a sustainable perspective that combines tourism dynamics, development, competitiveness, quality of life, and business. As such, it is aimed at a broad but higher-level audience including graduate students, academicians and researchers, practitioners, policymakers, and international organizations.
