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Casino Business in the Context of Tourism Development (Case: Montenegro)

Author

Listed:
  • Iva Bulatović

    (Faculty of tourism Montenegro Tourism School, Mediterranean University, Podgorica 81000, Montenegro)

  • Ana Stranjančević

    (Faculty of tourism Montenegro Tourism School, Mediterranean University, Podgorica 81000, Montenegro)

  • Darko Lacmanović

    (Faculty of tourism Montenegro Tourism School, Mediterranean University, Podgorica 81000, Montenegro)

  • Andrej Raspor

    (School of Advanced Social Studies, Gregorčičeva 19, 5000 Nova Gorica, Slovenia
    DOBA Faculty of Applied Business and Social Studies, Prešernova ulica 1, 2000 Maribor, Slovenia)

Abstract

Special Interest tourism (SIT) represents an answer to mass tourism and its goal is to ensure tourist destination sustainability. The casino industry is growing intensively in the territory of Montenegro and a question arises whether casino tourism development is an opportunity or a danger for Montenegro and its sustainability. The goals of this paper are to show and assess the current offerings and potential for development of casino tourism in Montenegro, to point out advantages and challenges in development of casino tourism in this type of destination. Econometric models were used for the needs of this paper (time series correlations and regression for defining relation between casino business and tourism, ARIMA model for prognosis of casino business in the context of tourism until 2020). For the first time in the territory of Montenegro, 14 anonymous interviews were carried out with casino players to determine the quality of current offerings for development of casino tourism in Montenegro. The main finding suggests that casino tourism in Montenegro is not sufficiently developed, but that we can boast of a high-quality casino offering such as Slovenia. Limitations lie in the lack of data over a long period and the non-existence of the records on number of casino tourists in Montenegro. The emphasis is put on the economic effects of developing casino tourism, rather than the social ones.

Suggested Citation

  • Iva Bulatović & Ana Stranjančević & Darko Lacmanović & Andrej Raspor, 2017. "Casino Business in the Context of Tourism Development (Case: Montenegro)," Social Sciences, MDPI, vol. 6(4), pages 1-16, November.
    • Handle: RePEc:gam:jscscx:v:6:y:2017:i:4:p:146-:d:120949
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    References listed on IDEAS

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    1. Xinhua Gu & Pui Sun Tam & Chun Kwok Lei & Xiao Chang, 2016. "The Economics of Taxation in Casino Tourism with Cross-border Market Power," Review of Development Economics, Wiley Blackwell, vol. 20(1), pages 113-125, February.
    2. Pedro Longart & Eugenia Wickens & Ali Bakir, 2016. "Consumer Decision Process in Restaurant Selection: An Application of the Stylized EKB Model," Tržište/Market, Faculty of Economics and Business, University of Zagreb, vol. 28(2), pages 173-190.
    3. Imad A. Moosa, 2017. "Econometrics as a Con Art," Books, Edward Elgar Publishing, number 17257.
    4. Huang, Tzu-Wei (Arwen) & Tseng, Wan-Yu (Quentina) & Lin, Jing-Yao (Jerry) & Tay, Ching-Xiong (Dennis), 2017. "Investigating casino event management integration: The case of East and South Asia casinos," MPRA Paper 87915, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Bulatovic, Iva & Papatheodorou, Andreas, 2023. "Civil aviation and tourism demand in Montenegro: A panel data approach," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 9(1), pages 25-36.
    2. Lorin DRAGAN & Dana HIRGAU, 2021. "What do international tourists seek for when playing in the casinos? A Bucharest gambling market study," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 13(3), pages 291-305, November.

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