nep-tur New Economics Papers
on Tourism Economics
Issue of 2015‒12‒20
two papers chosen by
Laura Vici
Università di Bologna

  1. Brand equity of tourism destinations: The influence of country image and regional image By Ángel Herrero Crespo; Héctor San Martín Gutiérrez; Mª del Mar García de los Salmones Sánchez; Jesús Collado Agudo
  2. The Fundamental Equation in Tourism Finance By McAleer, M.J.

  1. By: Ángel Herrero Crespo; Héctor San Martín Gutiérrez; Mª del Mar García de los Salmones Sánchez; Jesús Collado Agudo
    Abstract: This paper focuses on the customer-based brand equity for a regional tourist destination, and develops a theoretical model including the causal relationships between the dimensions of brand equity (awareness, image, perceived quality and loyalty). Accordingly, the loyalty of international tourists is considered as the main outcome variable for explanation in the theoretical model. Moreover, the paper adopts an international tourism approach and takes into account the hierarchy of destination brands, analyzing the influence of country destination image (i.e. country as umbrella brand) on the regional destination image. The empirical evidence obtained from a sample of 253 international tourists visiting a regional destination in Spain supports that loyalty towards the destination is positively influenced by the perceived quality of the destination, which in turn is directly influenced by the image and awareness of the destination. Additionally, our results support for the idea that the perceptions of international tourists of a regional destination are positively influenced by their perceptions of the country destination where the region is located. The country’s brand therefore acts as an “umbrella brand” for the region’s brand.
    Keywords: Destination branding, country destination, regional destination, brand equity, image, perceived quality, awareness, loyalty
    JEL: M30
    Date: 2015–11
  2. By: McAleer, M.J.
    Abstract: The purpose of the paper is to present the fundamental equation in tourism finance that connects tourism research to empirical finance and financial econometrics. The energy industry, which includes, oil, gas and bio-energy fuels, together with the tourism industry, are two of the most important industries in the world today in terms of employment and generating income. The primary purpose in attracting domestic and international tourists to a country, region or city is to maximize tourism expenditure. The paper will concentrate on daily tourism expenditure, regardless of whether such data might be readily available. If such data are not available, a practical method is presented to calculate the appropriate data.
    Keywords: tourism research, tourism finance, growth in tourism, returns on tourism, volatility, fundamental equation, empirical finance, financial econometrics
    JEL: C22 C32 C58 G32
    Date: 2015–11–01

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