Development Strategies for Tourism Destinations: Tourism Sophistication vs. Resource Investments
AbstractThis paper investigates the effectiveness of development strategies for tourism destinations. We argue that resource investments unambiguously increase tourism revenues and that increasing the degree of tourism sophistication, that is increasing the variety of tourism related goods and services, increases tourism activity and decreases the perceived quality of the destination's resource endowment, leading to an ambiguous effect on tourism revenues. We disentangle these two effects and characterize situations where increasing the degree of tourism sophistication is a viable development strategy and where it is impracticable and describe the optimal policy mix.
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Bibliographic InfoArticle provided by Società editrice il Mulino in its journal Economia politica.
Volume (Year): (2012)
Issue (Month): 2 ()
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J.E.L. L83; O1; D11;
Other versions of this item:
- Rainer Andergassen & Guido Candela, 2010. "Development Strategies for Tourism Destinations: Tourism Sophistication vs. Resource Investments," Working Paper Series 35_10, The Rimini Centre for Economic Analysis, revised Jun 2013.
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
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