The economics of tourism destinations

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Welcome to ETOUR seminar with professor Paolo Figini from University of Bologna.

Paolo will present the paper "The economics of tourism destinations".  The paper models the optimal strategy of the tourism destination (here intended as a meta-economic agent) from an economic perspective. Three key elements in its choice problem are identified: i) the endowment of natural and cultural resources (common goods for the destination); ii) the degree of sophistication in the tourism product, intended as the bundle of goods and services complementary to accommodation that are demanded by the tourists; iii) the need for coordination among local firms, stemming from the anticommon nature of the tourism product. By jointly considering these issues we are able to build a two-stage model for the tourism destination, thus identifying the optimal degree of sophistication of the tourism product and the optimal organizational structure in terms of coordination. This approach helps shedding a light on the underlying rationale in the path of development taken by different destinations, thus overcoming some of the limits of the existing literature. Accordingly, we provide a classification of destinations with respect to the type of coordination and on whether the primary resource is natural, cultural or organizational.

Date: 29th of March
Time: 15.00-16.30
Location: P2517 (Bävern), ETOUR, Östersund


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