Elgar original reference
Edited by Larry Dwyer and Peter Forsyth
Larry Dwyer and Peter Forsyth Tourism economics has been a rapidly expanding subject over the past decade or so – this is partly a reﬂection of the increasing interest in tourism research generally. Tourism papers are published in tourism and in economics journals, and there is now a specialist journal, Tourism Economics, devoted to it. There are several texts on the subject as well. What speciﬁc contribution is tourism economics making? Tourism economics is not so much a new branch of economics, but rather it is an industry- or sector-based area of work which draws on, and applies, developments in general economics. In this respect, it is like transport or energy economics. As with these areas, there are some aspects of tourism economics which have been, or are becoming, of particular importance, in the way that choice modelling is a characteristic and important aspect of transport economics. Tourism economics draws on several, mainly microeconomic, branches of economics and econometrics, such as demand modelling, taxation theory, environmental economics, human capital theory and industrial organisation. More recently, it has been drawing on trade theory and general equilibrium modelling. Recent developments in tourism economics have taken one of a number of forms. There are some areas which have been part of the traditional content of tourism economics which are being made more rigorous. Perhaps the best example of this is in demand analysis and forecasting. This has long been an important aspect of the subject, with many contributions, with a distinct emphasis...