International Demand and Country Risk Analysis
- The Fondazione Eni Enrico Mattei series on Economics, the Environment and Sustainable Development
Chapter 2: Salient Features of Small Island Tourism Economies
The Economics of Small Island Tourism 26/05/2008 17.57 Chap 02 p.3 2. Salient Features of Small Island Tourism Economies1 2.1 INTRODUCTION Empirical analysis in tourism demand has typically been based on the consumer theory of demand, one of the foundations of microeconomics. Supply and demand of international tourism as a good or service can be viewed as international trade, and the consumption of international tourism requires the crossing of borders. However, application of international trade theory to analyse international tourism demand may not be feasible because most international trade theories are based on relative factor endowments. In international tourism demand analysis, it is not possible to compute factor endowments. However, it is possible to measure the worth of a tourist attraction by counting the number of people who visit, or money spent while visiting, an attraction. The theoretical elegance is obscured when the worth of a tourist attraction in a cross sectional setting is to be analysed. Hence, it is conceivable to place tourist attractions or destinations with similar attributes in an analytical framework. Small Island Tourism Economies (SITEs) are an example of a tourist destination. This chapter evaluates the common characteristics which impinge on SITEs and the implications of sustainable economic prosperity. These economies are relatively small in size and have small populations. They are all islands surrounded by very delicate ecosystems, and have an overwhelming reliance on international tourism for economic development. In analysing the common attributes of these economies, the main attributes which form the acronym SITE...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.