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Following previous research highlighting the importance of gastronomy experience through cooking classes, this study aims to explore the relationships among gastronomy experience, cocreation, experience satisfaction, subjective well-being (SWB) and quality of life (QOL).

Data were obtained from domestic tourists who attended the Korean temple food cooking classes. Structural equation modeling (SEM) was used to verify the hypothesized relationships. The degree of cocreation was also tested for its potential moderating role on the relationships between gastronomy experience and experience satisfaction using a multigroup analysis.

Results revealed the strong and positive effects of the four dimensions of gastronomy experience on satisfaction. Furthermore, experience satisfaction was found to indirectly influence QOL through SWB. The effects of the education and entertainment experiences on satisfaction were found to be more positive in the high degree of cocreation group compared with the low degree of cocreation group. However, the influence of the escapism experience on satisfaction was greater in those less involved with the cocreated experiential activity.

Findings may assist tourism marketers and local stakeholders to better understand the nature of gastronomy experiences and the importance of cocreation when designing and promoting gastronomy tourism experiences.

This study introduced an integrative framework that provides a better knowledge of the cocreated experience in the context of gastronomy tourism, and this model may be useful in designing impactful gastronomy experiences that lead to true value cocreation and consequently enhancing QOL.

The recent rise of nonperforming loans (NPLs) in some Asian economies calls for close analysis of the determinants, the potential macrofinancial feedback effects, and the implications for financial stability in the region. Using a dynamic panel model, we assess the determinants of the evolution of bank-specific NPLs in Asia and find that macroeconomic conditions and bank-specific factors – such as rapid credit growth and excessive bank lending – contribute to the buildup of NPLs. Further, a panel vector autoregression (VAR) analysis of macrofinancial implications of NPLs in emerging Asia offers significant evidence for feedback effects of NPLs on the real economy and financial variables. Impulse response functions demonstrate that a rising NPL ratio decreases the GDP growth, credit supply and increases the unemployment rate. Our findings underline the importance of considering policy options to swiftly and effectively manage and respond to a buildup of NPLs. The national and regional mechanisms underlying NPL resolution are important for safeguarding financial stability in an increasingly interconnected global financial system.