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The Future Outlook for Portuguese Travel Agents

Author

Listed:
  • A. George Assaf

    (Isenberg School of Management, University of Massachusetts-Amherst, 121 Presidents Drive, Amherst, MA 01003, USA)

  • Carlos Pestana Barros

    (Instituto Superior de Economia e Gestão, Technical University of Lisbon, Rua Miguel Lupi 20, 1249-078 Lisbon, Portugal, and UECE (Research Unit on Complexity and Economics))

  • Luiz Pinto Machado

    (Escola Profissional de Hotelaria e Turismo, Travessa Dos Piornais, São Martinho, 9000-246 Funchal, Madeira, Portugal)

Abstract

This paper adopts a three-stage procedure to measure and test the productivity and efficiency standings of Portuguese travel agents during 2005–2007. In the first stage, the authors use a bootstrapped Malmquist index approach to obtain estimates of total productivity growth. In the second stage, they obtain year-by-year efficiency scores, using a bootstrapped DEA model. A bootstrapped truncated regression is then adopted in the third stage to identify the covariates that explain technical efficiency. Results from a sample of 25 agents indicate that, on average, Portuguese agents experienced an increase in productivity over the period of the study. On the efficiency side, however, most travel agents were found to be operating at a high degree of inefficiency. Differences in productivity and efficiency between individual travel agents appeared to be related to factors such as market share and management style. The results are discussed and policy implications are derived.

Suggested Citation

  • A. George Assaf & Carlos Pestana Barros & Luiz Pinto Machado, 2011. "The Future Outlook for Portuguese Travel Agents," Tourism Economics, , vol. 17(2), pages 405-423, April.
    • Handle: RePEc:sae:toueco:v:17:y:2011:i:2:p:405-423
    DOI: 10.5367/te.2011.0034
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    References listed on IDEAS

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    Cited by:

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    2. José Solana-Ibáñez & Manuel Caravaca-Garratón & Lorena Para-González, 2016. "Two-Stage Data Envelopment Analysis of Spanish Regions: Efficiency Determinants and Stability Analysis," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 10(3), September.
    3. Bozana Zekan & Irem Önder & Ulrich Gunter, 2019. "Benchmarking of Airbnb listings: How competitive is the sharing economy sector of European cities?," Tourism Economics, , vol. 25(7), pages 1029-1046, November.
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