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Tourism Economic Impacts

  • João Romão
Chapter
Part of the New Frontiers in Regional Science: Asian Perspectives book series (NFRSASIPER, volume 28)

Abstract

Tourism is following a path of sustained growth at the global level, with important socio-economic impacts all over the world, justifying a critical discussion on the existing methods (and limitations) for their estimation (tourism satellite accounts, input-output methods, or computable general equilibrium and social account models), along with an overview and analysis of different techniques to assess the economic value of nonmarketable tourism-related assets, like nature or cultural heritage (hedonic prices or contingent valuation) or immaterial valuable aspects (like the loyalty of visitors). The communal character of many tourism resources, with the consequent appropriation and provision problems characterizing the common pool resources, is also discussed. A more specific discussion on the contribution of tourism for economic growth (tourism-led growth hypothesis) and its limitations in the long run is framed within the consideration of the historical dimension of tourism development, through the analysis of the evolutionary aspects of the life cycle of tourism destinations, including potential negative long-term consequences of specialization in tourism. In this context, the analytic contributions related to the evolutionary economic geography, emphasizing the roles of place and time, emerge as useful tools for the study of the economic dynamics of tourism in contemporary societies, mostly when discussing the role of tourism within the context of a regional economy and its relations with other sectors, activities, and innovation dynamics.

Keywords

Tourism economic impacts Economic growth Resilience Tourism Area Life Cycle Evolutionary economic geography Path dependence 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2018

Authors and Affiliations

  • João Romão
    • 1
    • 2
  1. 1.Centre for Advanced Studies in Management and EconomicsUniversity of AlgarveFaroPortugal
  2. 2.Regional Economics and Business NetworkHokkaido UniversitySapporoJapan

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