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Competitiveness: The Birth of a New Paradigm. According to conventional economic theory, macroeconomic factors such as the cost of manpower, interest rates, exchange rates and scale savings, are the most important determining factors of competitiveness.

Tourism policies and competitive tourism development 1.1 The goals and objectives. When devising the main policies implementing a destination's tourism development strategy, one of the main objectives is to improve both population's quality of life and the physical territory where the tourism experience takes place. This means that such strategy has to better the level of “Economic prosperity” (Growth and Competitiveness) as well as the feeling of well being of its local inhabitants (Perception of physical and psychical well being).