The Economics of Tourism DestinationsThe 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. |
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accommodation airlines allows analysis assume average behavior Candela carrying capacity Chap characteristics choice competition condition constraint consumers consumption contract countries cultural currency defined depends destination management Economics of Tourism effect elasticity environmental equilibrium example exchange rate externality factors Figini forward contract function global identify important income increase information asymmetry informational cascade international tourism Internet investment marginal cost number of overnight number of stays offer optimal organization overnight stays package holiday perfect competition price discrimination problem profit purchase refer region relationship relevant restaurant revenue Ryanair season Sect social solution specific spending strategy structure sustainability tour operator tourism activity tourism demand tourism destination Tourism Economics tourism expenditure tourism firms tourism flows tourism market tourism product tourism sector tourism services transport travel agency trip types of tourism UNWTO utility variables World Tourism Organization yield management