The purpose of this paper is to re-examine the economic models and assumptions that have given rise to current day tourism. It suggests alternate models based on new values to…
Abstract
Purpose
The purpose of this paper is to re-examine the economic models and assumptions that have given rise to current day tourism. It suggests alternate models based on new values to help tourism emerge from the current COVID crisis and “come-of-age.”
Design/methodology/approach
The paper delineates the assumptions of neoliberal economics upon which much of tourism has been based. It then summarizes the work of progressive economists in developing new models that value capital other than financial. Six of these models are briefly described and applied to tourism.
Findings
Some assumptions underlying the neoliberal economic model that need re-examining are the ideas that: self-interest drives ideal economic behavior; success comes from competition, not cooperation; encouraging consumption for its own sake; giving owners priority over other stakeholders; and more income translates into more happiness. Redesign of economic systems requires consideration of social capital, natural capital, intellectual capital, compassion capital, trust capital and spiritual capital to name a few. Examples of alternate systems using these capitals are the collaborative economy, the circular economy, the creative economy, the gift economy, the sacred economy and the regenerative economy.
Originality/value
The paper’s approach is to interlace modern economic thought with the future maturation of tourism and to suggest that tourism policymakers and leaders learn from these thinkers to create a new model for the future of tourism.
Details
Keywords
This concluding contribution draws together key issues discussed in the various chapters of the book and connects them with future trends for tourism education. It places task in…
Abstract
This concluding contribution draws together key issues discussed in the various chapters of the book and connects them with future trends for tourism education. It places task in the changing world of higher education in general, and discusses changes in knowledge acquisition, ways of learning, knowledge content, and the role of educators in the future. This coverage leads to new learning technologies and their impact on the learning spaces of the future. Finally, the chapter discusses how projected tourism education programs can be designed to address society’s needs at this critical juncture in the history of the mankind. Creating responsible leaders for this global industry is perhaps the most important goal of future tourism education.
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Today's long haul travelers require destination information before they travel to a destination, and also while they are at the destination. The increasing complexity of the…
Abstract
Today's long haul travelers require destination information before they travel to a destination, and also while they are at the destination. The increasing complexity of the tourism industry and the increasing sophistication and diversity of travelers, makes access to this information both more important and more difficult, especially for long haul destinations. Indeed there are substantial search costs for travelers to identify products in long haul destinations. More accessible information sources on a destination's facilities can reduce the substantial search costs that are incurred in the planning and organization of a long haul trip, and thereby facilitate market transactions in the destinations.