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Full Description
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.
Chapters delve into the theoretical underpinnings of specific topics within the field, providing a range of examples of how to leverage economic theories to better understand, manage, and promote tourism activities to different stakeholders. Offering a kaleidoscope of economic perspectives, the Modern Guide looks at tourism economics from trade theory, choice theory, behavioural economics, public choice, institutional economics, environmental economics, developmental economics, cultural economics and more, with each chapter ending with insights into future research and directions.
Written in an accessible style, this will be an invigorating read for hospitality and tourism management scholars, as well as tourism geographies, tourism marketing and sustainable tourism students. It will also be a useful tool for tourism economists and applied economists looking for a wide range of perspectives on the topic.
Contents
Contents:
Preface xii
Acknowledgements xv
1 Introduction to A Modern Guide to Tourism Economics 1
Robertico Croes and Yang Yang
2 Tourism and the economic paradigm 15
Zheng Chris Cao
3 Tourism in an open system: what do theories of
international trade and competition teach us? 37
Robertico Croes and Simone Marsiglio
4 Consumer choice and its repercussions in tourism: models
and specifications 59
Richard Qiu and Sílvia De Almeida
5 Seasonality and individual choice: towards a theory of
seasonal behavior 78
Jorge Ridderstaat
6 Market behavior of tourism firms and its effects on the
boundaries of firm 100
Nicolas Peypoch
7 The role of information and choice under uncertainty 116
Juan Luis Nicolau and Abhinav Sharma
8 The coordination challenge in tourism destinations: value
creation, enhancement, and retention 134
Paolo Figini
9 Tourism development and economic growth: theoretical
underpinnings and agenda for future research 152
Boopen Seetanah and Robin Nunkoo
10 Tourism and business cycles 170
Lucie Plazakova and Egon Smeral
11 Public economics, public choice and tourism 185
Philippe Duverger, Larry Yu, and Kristin Lamoureux
12 The new institutional economics for hospitality and tourism 203
Mehmet Altin
13 Environmental economics as a framework to study the
tourism phenomenon 221
Sergio Alvarez, Christina E. Brown, and J. Walter Milon
14 Tourism, development economics, poverty alleviation, and
inequality 238
Manuel Vanegas
15 Happiness and tourism activities: an empirical and
theoretical interpretation 259
Salvatore Bimonte
16 Tourism and regional economics 277
Seongsoo Jang and Jinwon Kim
17 The macroeconomics of tourism 294
Hongru Zhang
18 Economics of cultural tourism 311
Martin Falk and Eva Hagsten
19 Tourism and digital economics 330
Aliza Fleischer
20 Tourism and political economy 348
Robin Nunkoo, Boopen Seetanah and Reena Bhattu-Babajee
21 Financial economics for the tourism industry 364
Murat Kizildag
22 Tourism and behavioral economics 383
Milena S. Nikolova
23 The future of tourism economics 402
Yang Yang and Robertico Croes
Index
