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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: 0.573. 5-Year Impact Factor: 0.901. (2013 Journal Citation Reports® Social Sciences Edition, Thomson Reuters, 2014.)

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 2 April 2015

Special focus: Quantitative approaches in tourism economics and management
Guest editors: Yasuo Ohe and Nicolas Peypoch

245 Introduction

247 Understanding tipping behaviour – an economic perspective

Melville Saayman and Andrea Saayman

267 Comparison of destination competitiveness ranking in the European Union using a non-parametric approach

Arnaud Abad and Papangkorn Kongmanwatana

283 Why do they choose a spa destination? The case of Japanese tourists

Hiromi Kamata and Yuki Misui

Other papers:

307 Quality certification, performance and size in hotel chains

Jorge Pereira- Moliner and Juan José Tarí

325 Restaurant consumption as an economic indicator

Aleksandar M. Velkoski

341 Determinants of systematic risk in the online travel agency industry

Won Seok Lee, Joonho Moon, Seoki Lee and Deborah Kerstetter

357 On the relationship between length of stay and total trip expenditures: a case study of instrumental variable (IV) regression analysis

Christer Thrane

369 Achieving balanced regional development in China: is domestic or international tourism more efficacious?

Carey Goh, Hengyun Li and Hanqin Qiu Zhang

387 Heterogeneous preferences for winter nature-based tours in sub-frigid climate zones: a latent class approach

Yasushi Shoji and Takahiro Tsuge

409 Impact of surf breaks on home prices in Santa Cruz, CA

Jason Scorse, Frank Reynolds III and Amanda Sackett

419 Research note: The impact of the tourism industry on the world’s largest economies – an input–output analysis

Giuseppe Ricciardo Lamonica and Elvio Mattioli

427 Research note: Relationship versus transactional marketing in travel and tourism trade shows

Ainhoa Rodriguez Oromendía, María Dolores Reina Paz and Ramón Rufín

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Title: Understanding tipping behaviour – an economic perspective

Author(s): Melville Saayman and Andrea Saayman

Abstract: There are generally three explanations for tipping: social approval, equitable service exchange and other reasons. The combination and importance of these reasons differ between countries and cultures. In this study, three distinct questions were asked. What influences the frequency of the tipping decision? What influences the magnitude of the tip given? Who is likely to tip more than the norm? A survey among diners was conducted at one of South Africa’s largest arts festivals. Using regression analyses, this paper aims to identify the factors that influence tipping behaviour in South Africa. While most previous research has focused on motivational and/or psychological reasons for tipping, this research contributes towards understanding tipping from an economic perspective. The results show that the frequency of tipping and its magnitude are a function of the ability to pay. However, socio-demographics play an important role, especially in the paying of the above-normal tip.

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Title: Comparison of destination competitiveness ranking in the European Union using a non- parametric approach

Author(s): Arnaud Abad and Papangkorn Kongmanwatana

Abstract: This paper seeks to improve accuracy when presenting the tourism performance of European countries and, in particular, the position of destination management organizations, which play a central role in the tourism development of their countries. The paper measures the performance of European countries and endeavours to explain the dispersion of the efficiency ranking scores in the European Union (EU). Three types of methodology are applied to establish the tourism performance of the destinations. The study covers 27 large and small countries in the EU, but excludes Malta. In addition, two representative indicators of output are used: destination attractiveness and annual data on bed- nights and nights spent. Therefore, the paper uses data envelopment analysis (DEA), super-efficiency DEA and the non-radial Nerlove–Luenberger super-efficiency DEA model to narrow down the partition between efficiency and inefficiency scores in large and small countries in terms of development.

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Title: Why do they choose a spa destination? The case of Japanese tourists

Author(s): Hiromi Kamata and Yuki Misui

Abstract: The purpose of this study is to segment Japanese spa tourists according to push motivation using a factor-cluster market segmentation approach. The study examines why these tourists choose spa destinations from among the numerous available tourism options, and what kind of attractiveness they seek. The authors derive 7 factors from 44 motivation items by factor analysis and the tourists are segmented into five clusters. Their analysis reveals that these tourists chose spa destinations when they were in search of a ‘soothing’ experience, one of the seven factors considered specific to spas. The answer to the question on the kind of attractiveness sought varied by segment.

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Title: Quality certification, performance and size in hotel chains

Author(s): Jorge Pereira-Moliner and Juan José Tarí

Abstract: This paper examines the relationship between quality certification and performance, and quality certification and size in hotel chains operating in Spain. In an initial phase, a quantitative study is made with secondary and objective data to analyse these relationships. In a second phase, a qualitative analysis is applied to reach a better understanding of the quantitative results. The findings show that chains with certified hotels achieve better performance levels; that better performance levels increase with the percentage of certified hotels within the chain; and that quality certification has positive effects on some performance variables. In addition, size is not a key factor for certification, although it could be an enabler.

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Title: Restaurant consumption as an economic indicator

Author(s): Aleksandar M. Velkoski

Abstract: This study investigates the relationship between restaurant consumption and aggregate macroeconomic activity in the USA. Using a set of 2005 chained US dollar quarterly same store sales data for restaurant consumption from Q1 2007 through Q1 2012, it empirically examines whether restaurant consumption is an aggregate macroeconomic indicator. Two categories of restaurant consumption are examined: non-incentivized spend and incentivized spend. Aggregate macroeconomic activity is measured by gross domestic product. Non-incentivized spend is found to be a procyclical coincident indicator of aggregate macroeconomic activity in the USA. Coincident indicators are comprehensive measures of economic performance that help to confirm whether a nation is prosperous or depressed. The study found no relationship between incentivized spend and aggregate macroeconomic activity.

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Title: Determinants of systematic risk in the online travel agency industry

Author(s): Won Seok Lee, Joonho Moon, Seoki Lee and Deborah Kerstetter

Abstract: Systematic risk, or the variance of asset returns that cannot be eliminated through diversification of a portfolio, has received limited attention from tourism researchers. This is problematic given the dramatic changes experienced by the industry in the last two decades and the fact that there are unique determinants of systematic risk owing to the tourism industry’s idiosyncratic business environment. Therefore, the primary purpose of this study is to identify financial/operating determinants that influence systematic risk for online travel agencies (OTAs). Panel data from 10 US OTA companies listed on the New York Stock Exchange Index from 2001 through 2010 were analysed via a two-way, random-effects model using generalized least squares. The results indicate that advertising expenditures, liquidity and firm size are significant determinants of the systematic risk of OTAs. Appropriate financial/operating management for all three determinants are recommended to decrease that risk. This investigation of OTAs’ systematic risk provides practical insights to the OTA industry.

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Title: On the relationship between length of stay and total trip expenditures: a case study of instrumental variable (IV) regression analysis

Author(s): Christer Thrane

Abstract: The relationship between length of stay (LOS) and total trip expenditures (TTE) has been scrutinized many times within a micro-econometric framework, usually by means of ordinary least squares (OLS) regression analysis. The author questions this practice because much evidence suggests that LOS is an ‘endogenous’ independent variable. One of the basic assumptions of OLS regression is thus violated, and a new method – instrumental variable (IV) regression – is called for to produce a consistent, unbiased estimate of LOS. A non-technical case study on IV regression shows that the LOS–TTE relationship estimated by IV regression analysis is only about half the analogue OLS estimate. The study concludes with several important implications for the statistical modelling of micro-level tourism expenditures and for cross-sectional regression-based tourism studies in general.

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Title: Achieving balanced regional development in China: is domestic or international tourism more efficacious?

Author(s): Carey Goh, Hengyun Li and Hanqin Qiu Zhang

Abstract: Many developing countries are now suffering from rather large regional development gaps. Can tourism promote balanced regional development (BRD) and so narrow such gaps? This study empirically examines and compares the impact of both international and domestic tourism on China’s regional development using the Gini coefficient method and the Granger causality test. The results indicate that the spatial distribution of the total tourism industry is more unbalanced than that of the regional economy. However, the imbalance in the spatial distribution is decreasing more rapidly than the imbalance in the regional economy. The Gini coefficient decomposition analysis shows that declining tourism spatial distribution imbalances are mainly and increasingly caused by domestic tourism. Granger causality tests show that tourism development will promote BRD through domestic tourism rather than international tourism. Finally, the authors draw out the policy implications for China’s tourism industry and BRD.

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Title: Heterogeneous preferences for winter nature-based tours in sub-frigid climate zones: a latent class approach

Author(s): Yasushi Shoji and Takahiro Tsuge

Abstract: This study investigates off-season tours by examining people’s heterogeneous preferences for nature-based tours in sub-frigid climate zones. To explore heterogeneous preferences for winter nature-based tours in Shiretoko, Japan, the authors conducted a discrete choice experiment with a latent class model. Even though the visitors’ preferences were different, it was possible to segment them into three groups based on the results. The first segment clearly preferred a wildlife observation tour and considered the possibility of finding rare eagles and detailed interpretation highly important. At the other extreme, the second segment preferred an adventure-based drift ice tour and were not interested in eagles or detailed interpretation. The final segment comprised those visitors whose preferences were between these two extremes. The findings show that, for satisfactory and profitable tours, tourist agents should provide specific recreation experiences to cater to these heterogeneous preferences rather than experiences thought to be acceptable to all visitors.

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Title: Impact of surf breaks on home prices in Santa Cruz, CA

Author(s): Jason Scorse, Frank Reynolds III and Amanda Sackett

Abstract: The growing field of ‘surfonomics’ attempts to document surfing’s economic contribution to local and regional communities, as well as the consumer surplus that surf breaks provide to millions of surfers. To date, no research has examined the extent to which the value of surf breaks is capitalized into home prices. This study uses the hedonic price method with data from three distinct beach- adjacent neighbourhoods in Santa Cruz, CA, USA, to estimate whether proximity to surf breaks leads to higher home values. The authors find that, after controlling for proximity to the beach, ocean views, the specific characteristics of the homes and neighbourhood effects, proximity to surf breaks is a statistically significant contributor to overall home value. A home that is right next to a surf break is valued on average at approximately US$106,000 more than an equivalent home a mile away.

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Title: Research note: The impact of the tourism industry on the world’s largest economies – an input– output analysis

Author(s): Giuseppe Ricciardo Lamonica and Elvio Mattioli

Abstract: This paper evaluates the role and position occupied by the tourism sector in the economic systems of the most industrialized countries. As the sector is not officially recorded, the analysis focuses on one of its most important components: hotel and restaurant services. The main novelty of this study is that it takes joint account of the direct and indirect links between the other economic sectors of a country and those of other countries. The analysis uses the World Input–Output Tables and two descriptive measures: the backward and forward linkages. Joint consideration of these two indices reveals that only for China does tourism prove to be a key sector, while in the remaining countries it proves to be an independent sector.

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Title: Research note: Relationship versus transactional marketing in travel and tourism trade shows

Author(s): Ainhoa Rodriguez Oromendía, María Dolores Reina Paz and Ramón Rufín

Abstract: The hypothetical mix of relationship marketing and transactional marketing perspectives is a major theme in the general literature that should be researched in relation to tourism and travel shows. This issue is addressed in the present paper which analyses the effect of managing relationships among three partners (trade organizer, exhibitor and end customer) on the exhibitor’s performance during the fair, and comparing that effect with the influence of transactional marketing management, in which business performance depends on conventional tools. The results point to an overbalance on the side of transactional marketing in the case of tourism and travel exhibitors. By contrast, in the case of the business-to-business relationship between trade show organizers and exhibitors, the weight of relationship marketing seems to be comparatively higher and, most relevant, to affect the exhibitor’s performance in terms of their business with end customers during the show.

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