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The business and finance of tourism and recreation

ISSN 1354-8166 (print); 2044-0375 (online)


Editor: Stephen Wanhill,
Professor of Tourism Economics,
University of Limerick,
and Emeritus Professor of Tourism
Research, Bournemouth University

This journal is covered by Thomson Reuters in the Social Sciences Citation Index (SSCI) and Current Contents/Social and Behavioral Sciences. Impact Factor: 0.515. 5-Year Impact Factor: 0.745. (Journal Citation Reports®, 2015 release, Thomson Reuters.)

This journal is indexed in Scopus

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Editorial coverage

Tourism Economics, published bimonthly, covers the business aspects of tourism in the wider context. It takes account of constraints on development, such as social and community interests and the sustainable use of tourism and recreation resources, and inputs into the production process. The definition of tourism used includes tourist trips taken for all purposes, embracing both stay and day visitors.

Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).

Core subject areas:

  • forecasting
  • public policy (strategies, fiscal and other intervention policies)
  • economic development
  • market structures and competition
  • sources of capital provision
  • labour economics (quality and productivity issues)
  • business aspects of marketing
  • private and public sector interaction
  • economic appraisal at sector and project level
  • mathematical modelling
  • developments in the components of the product
  • structure of the tourism industry (including such issues as ownership, corporate size, international operations, etc)
  • regional economic effects of tourism developments
  • analysis of international data on tourism, such as WTO statistics

Submissions - Notes for authors

Please send papers by e-mail to Professor Stephen Wanhill, c/o  JEdmondson(at)ippublishing.com (this address is obtainable by clicking on Professor Wanhill's name in the preceding sentence). Receipt of your paper will be acknowledged by e-mail and it will then be forwarded to Professor Wanhill.

Length and presentation of contributions

 Papers will normally be about 5,000 words long. However, this is by no means inflexible and substantially shorter or longer papers will be considered where appropriate. Research notes and shorter report-style pieces will also be considered (1,500-2,000 words).

Submissions should be double-spaced. They can be sent to the editor either by e-mail or post c/o the publisher (details above). The publisher will send an acknowledgement on receipt of submissions. Electronic versions must be in Word (postal submissions should include one hard copy and a disk or CD).

The title page should contain full names and addresses of the authors and their affiliations. As this page will not be forwarded to referees, the title of the article (without authors) should be repeated on the first page of the text.

An abstract should be provided, comprising 100-150 words. Between 3 and 6 keywords should appear below the abstract, highlighting the main topics of the paper. The text should be organized under appropriate cross-headings (not numbered paragraphs) and where possible these should be not more than 800 words apart.

References should follow the Harvard system. That is, they should be shown within the text as the author's surname (or authors' surnames) followed by a comma and the year of publication, all in round brackets: for example, (Smith, 1998). For textual citations, where there are two authors please use the word 'and', not the ampersand (thus: '(Smith and Jones, 2012)'. Where there are more than two authors, please use the first-named author only, followed by 'et al' in italics (thus: Smith et al, 2012). At the end of the article a bibliographical list should be supplied, organized alphabetically by author (surnames followed by initials - all authors should be named). Bibliographic information should be given in the order indicated by the following examples:

Articles: Figini, P., and Vici, L. (2010), ‘Tourism and growth in a cross section of countries’, Tourism Economics, Vol 16, No 4, December 2010.

Books: Dwyer, L., Forsyth, P., and Dwyer, W. (2010), Tourism Economics and Policy, Channel View, Bristol.

Notes should be numbered consecutively in the text and typed in plain text at the end of the paper (not as footnotes on text pages).

Tables and illustrations should be presented separately at the end of the text. Authors should bear in mind that, in the print version of the journal, illustrations will be reproduced in black and white.

Prior Publication

Articles are received on the understanding that they are original contributions, and have not been published officially, either in print or electronic form, or submitted for publication elsewhere. In this respect, ‘discussion’ or ‘working’ papers, conference presentations and proceedings are not considered to be official publications, unless they have been formally deemed so by conference organizers, or presented as edited works through recognized publishing channels. If in doubt, authors are asked to draw the attention of the Editor to any prior dissemination of the paper in their letter of submission. Please note that articles should not be posted on personal Websites or social networking sites before or after submission.

Refereeing

All papers, other than research notes and reports, will be subject to a 'double blind' review - i.e. the anonymity of both authors and referees will be maintained throughout the refereeing process. There will be a minimum of two referees for each paper. Papers by authors who are not academics (such as submissions from industry) will also be subject to review before acceptance, but their distinct nature and aims will be fully taken into account.

Copyright

Authors will be asked to assign copyright, where possible, to IP Publishing Ltd. Relevant authors’ rights are protected.

Author Checklist for Final versions

Editorial Board

Editor: Stephen Wanhill, Professor of Tourism Economics, University of Limerick, and Emeritus Professor of Tourism Research, Bournemouth University, c/o IP Publishing Ltd, 4th Floor, Hamilton House, Mabledon Place, Bloomsbury, London WC1H 9BB, UK.

Special Advisers
  • Professor John Fletcher, International Centre for Tourism and Hospitality Research,
    Bournemouth University, UK
  • Professor William C. Gartner, Tourism Center,
    University of Minnesota, USA
  • Professor J. Mazanec, MODUL University
    Vienna, Austria
  • Professor Lindsay W. Turner, School of Applied Economics
    Victoria University, Australia

Editorial Advisory Board

  • Professor Eugeni Aguiló
    Universitat de les Illes Balears, Spain
  • Dr Albert Assaf
    University of Massachusetts-Amherst, USA
  • Professor Esteban Bardolet
    Universitat de les Illes Balears, Spain
  • Professor Carlos Pestana Barros
    Technical University of Lisbon, Portugal
  • Professor Juan Gabriel Brida
    Free University of Bolzano, Italy
  • Professor Nevenka Čavlek
    University of Zagreb, Croatia
  • Professor Jim Deegan
    University of Limerick, Ireland
  • Dr Sarath Divisekera
    Victoria University of Technology, Australia
  • Professor Larry Dwyer
    University of New South Wales, Australia
  • Professor Peter Forsyth
    Monash University, Australia
  • Professor D.C. Frechtling
    The George Washington University, USA
  • Dr Twan Huybers
    University of New South Wales, Australia
  • Dr Stanislav Ivanov
    International University College, Bulgaria
  • Professor Carson L. Jenkins
    University of Strathclyde, UK
  • Professor Woo Gon (Woody) Kim
    Florida State University, USA
  • Professor Brian King
    The Hong Kong Polytechnic University, Hong Kong
  • Professor Adele Ladkin
    Bournemouth University, UK
  • Dr Peter Morrell
    Cranfield University, UK
  • Professor Yasuo Ohe
    Chiba University, Japan
  • Professor Andrea Saayman
    North-West University, South Africa
  • Dr Mondher Sahli
    Victoria University of Wellington, New Zealand
  • Dr Neelu Seetaram
    Bournemouth University, UK
  • Professor Egon Smeral
    MODUL University, Austria
  • Professor Haiyan Song
    Hong Kong Polytechnic University, Hong Kong SAR, PR China
  • Professor Natalie Stoeckl
    James Cook University, Australia
  • Dr Brian Terry
    Terry & Partners, UK
  • Professor John Westlake
    Prince of Songkla University, Thailand

Vol 21 No 4 August 2015

701 An R&D-based endogenous growth model of international tourism

Isabel P. Albaladejo and María Pilar Martínez-García

721 The economic sustainability of tourism growth through leakage calculation

Fernando J. Garrigós-Simón, José Luis Galdón-Salvador and Ignacio Gil-Pechuán

741 Economic valuation of tourism destination image

María M. Carballo, Jorge E. Araña, Carmelo J. León and Sergio Moreno-Gil

761 Why negative outputs are often ignored: a comprehensive measure of hotel performance

A. George Assaf and Ljubica Knezevic Cvelbar

775 Where to invest in touristic promotion? Game theory as a decision instrument for the public sector

Jean Max Tavares, Giana De Vargas Mores and Edegar Luis Tomazzoni

791 Value of intermediation in the Spanish tourist supply chain

Juan Carlos Pérez Mesa, Emilio Galdeano Gómez and Mª Carmen García Barranco

807 Effects of diversification strategies on US restaurant firms’ performance

Kyung Ho Kang and Seoki Lee

833 Valuation of mudflats in nature-based tourism: inclusion of perceived value of festival experiences

Youngjoon Choi, Won Seok Lee, Choong-Ki Lee and John Dattilo

853 Effects on consumer welfare of visitor satisfaction with recreation information availability: a case study of the Allegheny National Forest

Seong-Hoon Cho, J.M. Bowker, Roland K. Roberts, Seunggyu Kim, Taeyoung Kim and Dayton M. Lambert

871 Research note: Better tourism market analysis by using import gap analysis

J. Reid Cummings and Donald R. Epley

881 Research note: Quality of government and tourism destination competitiveness

Seojin Lee

889 Research note: An analysis of the spatiotemporal disparities of inbound tourism development in China, 1991–2010

Kai Wang, Jing Yi and Yongmei Wang

899 Research note: Are hotel property taxes fully passed on to hotel guests? Implications from recent research on property tax incidence

James Mak

907 Research note: Promoting the international demand for agritourism: empirical evidence from a dynamic panel data model

Fabio Gaetano Santeramo

917 Research note: Estimation of the welfare benefit of boating at Maduganga Ramsar wetland in Sri Lanka

Rathnayake Mudiyanselage Wasantha Rathnayake


Title: An R&D-based endogenous growth model of international tourism

Author(s): Isabel P. Albaladejo and María Pilar Martínez-García

Abstract: According to the tourism area life cycle (TALC) model of Butler (1980), the evolution of a touristic destination follows an S-shaped curve which is upper-bounded by its carrying capacity, usually assumed to be a fixed constant. This forecast prevents a tourism-based economy from maintaining positive growth rates in the long run. However, infrastructures, transportation networks, accommodation facilities and the variety of attractions can be broadened to increase the tourism carrying capacity. In this paper, innovation is the motor of carrying capacity growth. The model follows the tradition of R&D-based endogenous growth models and allows the long-run sustainability of economic growth in a tourism-specialized economy. Along a balanced growth path, the income from tourism grows at the same rate as the innovation, and the carrying capacity will grow as the rate of innovation surpasses the foreign economic growth rate. The long-term growth of the economy depends on the real exchange rate.

Read the full article here

Title: The economic sustainability of tourism growth through leakage calculation

Author(s): Fernando J. Garrigós-Simón, José Luis Galdón-Salvador and Ignacio Gil-Pechuán

Abstract: The development and growth of tourism depend on its sustainability over time and on its benefits for destinations as a whole. However, calculating sustainability is not an easy task. This article focuses on the economic sustainability of tourism growth and, after an exhaustive review of the literature, proposes a quantitative mathematical model to measure it by analysing and calculating leakage in the hotel sector. Leakage analyses the amount of revenue generated by tourists that does not remain in the destination economy. Through a sample of 204 interviews with managers, this study validates the model created and calculates leakage in a mass tourism destination (the Valencian Region in Spain). The paper opens new areas of research in sustainability literature and will be of value to tourism planners and governments in their efforts to implement appropriate tourism development policies.

Read the full article here

Title: Economic valuation of tourism destination image

Author(s): María M. Carballo, Jorge E. Araña, Carmelo J. León and Sergio Moreno-Gil

Abstract: This paper develops a novel methodology for estimating the value of destination image, which incorporates two principal advantages over the methods used to date. First, it allows tourism destination image to be assessed in economic terms, so a formal cost–benefit analysis can be executed to ascertain whether or not a specific marketing action should be implemented. Second, it enables a disentangling of the economic assessment of tourist destination image in terms of destination attributes. This can be used to design marketing actions aimed at optimizing marketing efforts to enhance a destination’s image.

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Title: Why negative outputs are often ignored: a comprehensive measure of hotel performance

Author(s): A. George Assaf and Ljubica Knezevic Cvelbar

Abstract: Studies often overlook negative outputs when measuring hotel performance. This paper investigates the consequences of such omissions by comparing two performance models, one that includes negative outputs (customer complaints) and one that excludes negative outputs. The authors show that excluding negative outputs underestimates the efficiency and productivity results. The results also indicate important differences in the performance ranking of hotels when negative outputs were excluded from the model. The authors also found that hotel size and hotel classification have a minor impact on performance when accounting for negative outputs.

Read the full article here

Title: Where to invest in touristic promotion? Game theory as a decision instrument for the public sector

Author(s): Jean Max Tavares, Giana De Vargas Mores and Edegar Luis Tomazzoni

Abstract: The traditional literature on investment in touristic promotion identifies the ‘natural targets’ as the main tourist issuing regions. However, other parameters should also be considered, such as the income level of the region, the emitter–receiver ratio, geographical proximity and, principally, the existence of a strategic interdependence scenario. This paper, in addition to these parameters, uses the monetary return from tourists to show that the literature needs to move towards multivariate analyses. By means of game theory and a consideration of the main Brazilian states linked to tourism, it is observed that the results almost entirely indicate that decisions on where to make investments in touristic promotion are not as obvious as may be supposed, with the possibility of multiple targets.

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Title: Value of intermediation in the Spanish tourist supply chain

Author(s): Juan Carlos Pérez Mesa, Emilio Galdeano Gómez and Mª Carmen García Barranco

Abstract: Supply-chain management in tourism requires the collaboration and coordination of all companies involved in the production and marketing of tourist products. In order to study the direct and indirect relationships among members of the supply chain, this paper presents an input–output model whose results show the need for balance between direct and intermediated sales, on the one hand, and how individual strategies may impair the benefits of the whole chain, on the other. Additionally, although the producers are the most important agents in terms of turnover, when considering the joint effects of purchases and sales, intermediaries are seen to be the key enterprises of the supply network.

Read the full article here

Title: Effects of diversification strategies on US restaurant firms’ performance

Author(s): Kyung Ho Kang and Seoki Lee

Abstract: Although diversification strategies in the US restaurant industry are actively implemented with strategic importance, research on the effects of diversification on firm value has been rare. This study investigates the individual effect of geographical diversification and brand diversification on firm value in the US restaurant industry context. Furthermore, to investigate the effects of diversification more comprehensively, this study examines whether or not brand diversification moderates the relationship between geographical diversification and the value of US restaurant firms. The study finds an insignificant effect of geographical diversification on firm performance, a negative effect of brand diversification on performance and a negative moderating effect of brand diversification on the geographical diversification–firm performance relationship.

Read the full article here

Title: Valuation of mudflats in nature-based tourism: inclusion of perceived value of festival experiences

Author(s): Youngjoon Choi, Won Seok Lee, Choong-Ki Lee and John Dattilo

Abstract: As a particular type of wetlands, mudflats are a potentially valuable natural resource that has become an alternative destination for nature-based tourism. One prominent example of using mudflats in a tourism context is the Boryeong Mud Festival. To understand the role of the touristic experience in shaping the need for preservation, this study: (a) examines the effect of experiences in a nature-based festival on visitors’ willingness-to-pay (WTP) to preserve mudflats; and (b) estimates the preservation value of mudflats by using a contingent evaluation method. In particular, the perceived value of festival experiences is included in the proposed models when estimating visitors’ WTP. The results indicate that the experience of festival visitors was positively associated with WTP by showing that festival visitors perceived a higher level of utility for preserving mudflats as the functional value of festival experience increased. Based on the error-reduced WTP results, the average respondents’ WTP and the annual aggregate preservation value of mudflats were estimated at KRW 11,039 (US$8.64) and KRW 22,818 million (US$17.85 million), respectively.

Read the full article here

Title: Effects on consumer welfare of visitor satisfaction with recreation information availability: a case study of the Allegheny National Forest

Author(s): Seong-Hoon Cho, J.M. Bowker, Roland K. Roberts, Seunggyu Kim, Taeyoung Kim and Dayton M. Lambert

Abstract: This research quantifies changes in consumer welfare due to changes in visitor satisfaction with the availability of information about recreational sites. The authors tested the hypothesis that an improvement in visitor satisfaction with recreation information increases the number of visits to national forests, resulting in increased consumer welfare. They tested the hypothesis with a travel cost model for the Allegheny National Forest using data from the National Visitor Use Monitoring (NVUM) programme. An ex ante simulation suggests that annual per capita consumer welfare increased when highly satisfactory recreation information was available. The findings, along with the expected costs of providing better recreation information, may be a useful reference for recreation site managers who wish to increase the number of visits in an economically effective way.

Read the full article here

Title: Research note: Better tourism market analysis by using import gap analysis

Author(s): J. Reid Cummings and Donald R. Epley

Abstract: In a previous article published in this journal, the authors show that the total requirements approach to analysing a region’s tourism and hospitality industry is superior to the traditional use of location quotients. This paper extends the authors’ previous research by focusing on imports. It introduces the import gap analysis as a powerful, highly accurate analytical tool for use by local policymakers and economic development officials charged with identifying, targeting, and recruiting industries and businesses offering the highest opportunities for growth. The best method to define and analyse the local tourism industry is to utilize both exports and imports as a package approach.

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Title: Research note: Quality of government and tourism destination competitiveness

Author(s): Seojin Lee

Abstract: This paper examines the impacts of the quality of government on international tourism competitiveness. Quality of government is conceptualized in terms of an absence of corruption, a well- established rule of law and bureaucratic efficiency. Based on the cross-country analysis of the Travel & Tourism Competitiveness Index (World Economic Forum, 2013), the main finding of the study demonstrates that quality of government is positively associated with tourism competitiveness and that this positive effect remains robust across a number of control variables and estimation techniques. The results suggest that public policy for building a successful tourism industry should be nested in the broader project of enhancing the quality of government.

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Title: Research note: An analysis of the spatiotemporal disparities of inbound tourism development in China, 1991–2010

Author(s): Kai Wang, Jing Yi and Yongmei Wang

Abstract: This paper explores the spatio-temporal trend structure of inbound tourism development levels in China from 1991 to 2010. The investigation is based on theories of unbalanced regional economic growth and uses econometric methods. Absolute and relative disparities at the provincial level of inbound tourism in China tended to decrease during the 1990s. From 2001 to 2010, the relative disparities gradually decreased, whereas the absolute difference slightly increased. The overall regional disparity in the tourism development level exhibits a non-polarized and unbalanced development tendency along with the emergence of new, secondary tourism economic growth centres. Moreover, gradient differences remain in the three economic zones of China. This paper proposes a paradigm framework for regulating regional disparities and for facilitating comprehensive and coordinated inbound tourism development.

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Title: Research note: Are hotel property taxes fully passed on to hotel guests? Implications from recent research on property tax incidence

Author(s): James Mak

Abstract: Recent research on the excise tax effects of the property tax in small, multi-sector open economies suggests that the property tax may not be fully forward shifted to consumers, as previously believed. This paper adapts this analysis to examine whether local hotel property taxes in Hawaii are fully passed on to hotel guests as lawmakers had intended. The paper concludes that full forward shifting is unlikely. It argues that an excise/sales tax on hotel occupancy is preferable to the property tax as a tourist tax.

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Title: Research note: Promoting the international demand for agritourism: empirical evidence from a dynamic panel data model

Author(s): Fabio Gaetano Santeramo

Abstract: Tourism is a major economic activity for Italy, and one of its most important income sources. In recent years, tourism supply has changed considerably and rural tourism has been growing rapidly. Studies of agritourism are increasing, but the determinants of the international demand for rural tourism remain largely under-investigated. This paper empirically investigates the determinants of the international demand for agritourism in Italy. It shows the luxury nature of rural tourism and demonstrates that international flows are demand-driven. To the extent that entrepreneurs and policy makers wish to encourage rural tourism, subsidies, policy interventions and marketing campaigns may differ substantially according to the foreign countries targeted. The paper investigates these differences.

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Title: Research note: Estimation of the welfare benefit of boating at Maduganga Ramsar wetland in Sri Lanka

Author(s): Rathnayake Mudiyanselage Wasantha Rathnayake

Abstract: Maduganga is a Ramsar wetland in Sri Lanka, an area of high biodiversity and a unique ecosystem receiving high visitation (52,726 local visitors in 2012). Although tourism causes negative impacts on the environment, the welfare benefit it enjoys (in terms of consumer surplus) should be considered while taking natural resources management decisions on Maduganga. The study shows that the value of the annual welfare benefit at Maduganga is about SLR 19.96 million, but the total economic value could be many times higher than this. However, the present value of non-market benefits from preserving the site remains at a figure of SLR 199.6 million per year. The revenue from Maduganga could be maximized if the passenger boating fee were raised to SLR 378.56. It is estimated that this may reduce the present number of visitors by 45%, but enhance total revenue by 294%. The outcome of such a strategy would resolve the crisis caused by the insufficient allocation of manpower and funds for wetland conservation.

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