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Modelling perceived value as a driver of tourism development

Author

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  • Guizzardi, Andrea
  • Stacchini, Annalisa
  • Costa, Michele

Abstract

This study investigates visitors’ perceived value in little known small areas, at the early stage of tourism development, participating in a European regional development project, for improving the local tourism supply and marketing initiatives, with limited investments. We suggest to employ an Ordinal Structural Equation Model with Pairwise Likelihood estimator to deal with non-normal and missing data. We detect which destinations’ aspects convey the greatest value to tourists, identify market segmentation variables, test the relations of perceived value with satisfaction, intention to recommend and destination image. Results are relevant for policymakers and destination managers, even more in the post-COVID-19 tourism recovery.

Suggested Citation

  • Guizzardi, Andrea & Stacchini, Annalisa & Costa, Michele, 2020. "Modelling perceived value as a driver of tourism development," MPRA Paper 101245, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:101245
    as

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    References listed on IDEAS

    as
    1. Katsikatsou, Myrsini & Moustaki, Irini & Yang-Wallentin, Fan & Jöreskog, Karl G., 2012. "Pairwise likelihood estimation for factor analysis models with ordinal data," Computational Statistics & Data Analysis, Elsevier, vol. 56(12), pages 4243-4258.
    2. Tsu-Ming Yeh & Shun-Hsing Chen & Tsen-Fei Chen, 2019. "The Relationships among Experiential Marketing, Service Innovation, and Customer Satisfaction—A Case Study of Tourism Factories in Taiwan," Sustainability, MDPI, vol. 11(4), pages 1-12, February.
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    4. Jan Zawadka, 2015. "Preferences and Behaviors of the Elder People Resting in Valuable Natural Areas," Springer Proceedings in Business and Economics, in: Vicky Katsoni (ed.), Cultural Tourism in a Digital Era, edition 127, pages 27-35, Springer.
    5. Katsikatsou, Myrsini & Moustaki, Irini & Yang-Wallentin, Fan & Jöreskog, Karl G., 2012. "Pairwise likelihood estimation for factor analysis models with ordinal data," LSE Research Online Documents on Economics 43182, London School of Economics and Political Science, LSE Library.
    6. Eid, Riyad & El-Gohary, Hatem, 2015. "The role of Islamic religiosity on the relationship between perceived value and tourist satisfaction," Tourism Management, Elsevier, vol. 46(C), pages 477-488.
    7. Lin, Zhibin & Chen, Ye & Filieri, Raffaele, 2017. "Resident-tourist value co-creation: The role of residents' perceived tourism impacts and life satisfaction," Tourism Management, Elsevier, vol. 61(C), pages 436-442.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Perceived value; Ordinal SEM; Tourism development planning; Segmentation variables; Small areas; Destination marketing.;
    All these keywords.

    JEL classification:

    • O29 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Other
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • Y8 - Miscellaneous Categories - - Related Disciplines

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