4th Edition
The Economics of Tourism Destinations Theory and Practice
Revised and updated, the fourth edition of The Economics of Tourism Destinations provides a guide to the economic aspects of tourism for students and practitioners to decipher the methods of measurement of supply, demand, trends and impacts as well as the role of tourism in development strategy for destinations and regional development.
Each chapter combines theory and practice, and international case studies are provided. New to this edition:
- Three brand new chapters on overtourism, terrorism and pandemics, and sustainable development, covering the importance of risk management and sustainable strategy in relation to tourism management.
- New content on climate change, Airbnb, the impact of events and sustainable tourism development.
- Pedagogical features: new case studies, discussion questions and student activities to show theory in practice and encourage reflection on the content.
- Updated data throughout and reference to important new literature.
Combining macro and micro aspects of economics to the tourism destination, this book is an invaluable resource for students studying this topic.
1. The Economic Characteristics of the Tourism Sector
What is Tourism?
The Economic Characteristics of Tourism
What Is a Tourism Destination?
2. Measuring Tourism
Introduction
A Tourism information system (TIS) or Destination Management Information System
The tourism satellite account (TSA)
WTO Tourism Statistics
Tourism and/or Holiday Surveys
The Tourism Production Index - WES
The Swiss Tourism Barometer
3. Tourism Demand
Determinants of Tourism Demand
Trends in Tourism Demand
Tourism Demand Worldwide
Holiday Participation and Holiday Frequency
Seasonality
4. Overtourism
‘Overtourism’: What Does it Mean?
The Causes of ‘Overtourism’
Cities Do Not have the Monopoly of Overtourism
Five Case Studies
Indicators of Overtourism
Strategies and Measures
Concluding Remarks
5. Tourism's Vulnerability: Terrorism and Pandemics
Tourism Demand and Terrorism
Measurement of Terrorism Impact
Security Threats is More than Terrorism
Tourism Demand and Pandemics
The German Tourism Market and COVID-19
Covid-19 Impacts of Inbound Tourism on Australian Economy
Government Support to the Tourism Sector
Recovery: Business as Usual?
6. Tourism Supply
Tourism Supply in the Tourism System
Tourism Supply, the Tourist Product and Its Life Cycle
Tourism Supply and Market Structures
Supply Trends
7. Pricing and Taxation
Pricing in Tourism
Tourism and Taxation
8. Competition and the Tourism Destination
Introduction
The Competitive Forces of M. Porter
Porter’s Generic Competitive Strategies
The Determinants of Competitive Advantage in Tourism
The Poon Concept
The WES Approach
The Price-Competitiveness Approach
The Bordas Model
The Ritchie and Crouch Conceptual Model of Destination Competitiveness
The Dwyer-Kim Model
Synthesis of the Models
Ten Key Factors for a Competitive Destination
The Travel and Tourism Competitiveness Index (TTCI)
The partial model of destination competitiveness of Modul University
9. Forecasting Tourism Demand
Introduction
Concepts of Demand Measurement
Qualitative Methods
Quantitative Methods
Case Studies based on Regression Analysis
Final Remarks
10. Tourism as a Development Strategy
Introduction
Tourism and the Value Chain
Possible Options for a Good Strategy for Regional Development
Sustainable Tourism
Tourism as a Strategic Option for Regional Development
Comparative Advantages of Tourism
Economic Disadvantages
Can Tourism be a Strategic Vehicle in Developed and Less Developed Countries?
Critical Remarks
11. Tourism Export-Led Growth
Introduction
Methodologies for Measuring Tourism’s Contribution to Economic Growth
Case Studies of Tourism Export-Led Growth
Tourism and Poverty Reduction
Conclusion
12. The Economic Impact of Tourism
Introduction
Balance of Payments and Tourism
The Magic Tourism Multiplier
Measurement of Income Generation
Measurement of Employment Generation
Special Characteristics of Employment
The Impact of Events: Special Features
Computer General Equilibrium (CGE) Models
Use of CGE Modelling in Tourism
13. Micro-Evaluation of Projects in the Tourism and Hospitality Industry
Introduction
The Nature of a Tourism Investment Appraisal
The Discounting Methods
The Necessity for a Feasibility Study
A Business Table: A Practical Example
14. Macro-Evaluation of Projects in the Tourism and Hospitality Industry
Foundations of CBA
Externalities in Tourism
Identification of Cost and Benefit Items
Quantification of Cost and Benefit Items
Valuation of Cost and Benefit Items
Willingness to Pay and Consumer Surplus
Three Case Studies of CBA in Tourism
15. Tourism and Sustainable Development
Definitions
Sustainable Tourism as a Development Tool
Key issues for Sustainable Tourism
Which Sustainability Model?
Impact Tourism on Climate Change
Impact Climate Change on Tourism
Impact of Tourism on the Environment
Sociocultural Impacts of Tourism
Conclusion
Six Case Studies
Biography
Norbert Vanhove (PhD in economic sciences, Erasmus University, Rotterdam) started his career in tourism at WES Research & Strategy (Bruges) and is co-founder and honorary president of TRC (Tourism Research Center). He is one of the founding fellows of IAST (International Academy for the Study of Tourism) and has been vice-president of Association Internationale d’Experts Scientifiques du Tourisme (AIEST) for over ten years. He has been visiting professor (1967–2001) and later treasurer at the College of Europe. Since 2002, he has been part-time professor at KU Leuven (Tourism). In the years 1979–2000, he was general director of the Regional Development Authority of West-Flanders and of WES Research & Strategy.
