The impact of the dimensions of environmental performance on firm performance in travel and tourism industry

Most experts would agree that recovery from the COVID-19 crisis will be slow (see Figure 6.2), in large part due to the impact that the crisis has had on the global travel and tourism industry (Romei, 2020). Until there is vaccine, the virus will influence nearly every sector of travel from transportation, destination and resorts, to the accommodations, attractions, events and restaurants. The first section of this chapter looks at the future for these different sectors, a future heavily influenced by technology and a heightened emphasis on health and safety. The second part of the chapter focuses on a theme that has been prevalent in this book – the need for adaptability or ‘COVID-aptability’. Consumer demands and behavior will be permanently altered by the pandemic, and all stakeholders in the travel industry will need to adapt. One part of adaptability is redesigning servicescapes – a necessity for many after the lockdown, and this is the subject of the penultimate section of the chapter. The conclusion looks at lessons learned from this crisis.

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Impact of Information and Communication Readiness on the Tourism Industry

Impact of Globalization and Advanced Technologies on Online Business Models - Advances in E-Business Research ◽

10.4018/978-1-7998-7603-8.ch012 ◽

2021 ◽

pp. 186-201

Author(s):

Woon Leong Lin ◽

Bee Lian Song

Keyword(s):

Fixed Effects ◽

Panel Data Analysis ◽

Tourism Industry ◽

Policy Effects ◽

Travel And Tourism ◽

Economic Progress ◽

The World ◽

Information And Communication ◽

World Economic ◽

The Impact

This study examines the impact of ICT readiness on the tourism industry and how it leads to growing competitiveness by deploying three-panel data analysis techniques (pooled OLS, fixed effects, dynamic GMM) with 177 nations for the period 2011 to 2019. ICT readiness is gauged using the World Economic Forum's Travel and Tourism Competitiveness Index, whereas tourism's contribution towards economic progress is gauged by overall international traveler arrival. The observations indicate that ICT readiness causes a statistically significant effect on tourism's role in economic progress. Tourism policy effects and guidelines for future works are discussed as well.

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Digital Imaging Trek

Information and Communication Technologies in Support of the Tourism Industry ◽

10.4018/978-1-59904-159-9.ch012 ◽

2011 ◽

pp. 286-313

Author(s):

Stephen C. Andrade ◽

Hilary Mason

Keyword(s):

Digital Imaging ◽

Digital Communication ◽

Tourism Industry ◽

Digital Recording ◽

Communication Infrastructure ◽

Travel And Tourism ◽

Travel Experience ◽

The Impact

This chapter introduces the concept and activities of the digitally enabled tourist and the impact such as tourist has on the travel and tourism industry. It summarizes the existing and emerging technical environments that encourage the use of hand held digital recording devices and personal Internet communications. Additionally, it looks at ways tourists publish and exhibit digital visual and written artifacts of their travel experience. The chapter introduces general types of digital communication infrastructure to be considered by the industry to create an experience to support this type of tourism. The authors hope that further understanding of the digitally enabled tourist will inform travel professionals to better facilitate commerce and practice in the industry.

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THE IMPACT OF ESG FACTORS ON MARKET VALUE OF COMPANIES FROM TRAVEL AND TOURISM INDUSTRY

Technological and Economic Development of Economy ◽

10.3846/tede.2019.10294 ◽

2019 ◽

Vol 25 (5) ◽

pp. 820-849 ◽

Cited By ~ 1

Author(s):

George H. Ionescu ◽

Daniela Firoiu ◽

Ramona Pirvu ◽

Ruxandra Dana Vilag

Keyword(s):

Economic Impact ◽

Economic Performance ◽

Market Value ◽

Listed Companies ◽

Geographic Region ◽

Tourism Industry ◽

Important Influence ◽

Travel And Tourism ◽

The Impact ◽

The Relationship

The aim of this paper is to investigate the relationship between environmental, social, and governance (ESG) factors and firm market value for the companies from travel and tourism industry and, in the same time, to investigates the question if the association between good ESG scores for travel and tourism companies and their market value can be used as a performance predictor. The impact of extra-financial ESG performance on market value of the companies was estimated using the modified version of the Ohlson (1995) model, based on a sample of 73 listed companies, worldwide distributed, during the 2010–2015 period. The overall results of this research are consistent with the value enhancing theory (as opposed with the shareholder expense theory). From the ESG factors, the governance factor seems to have the most important influence on the market value of the selected companies, regardless of the geographic region where they are located. Thus, our findings provide new insights into the influence of each ESG factor on the market value of the companies, providing a useful tool for stakeholders to measure economic impact but also for use as a predictor of economic performance.

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Philanthropic giving, sales growth, and tourism firm performance: An empirical test of a theoretical assumption

Tourism Economics ◽

10.1177/1354816618809260 ◽

2018 ◽

Vol 25 (6) ◽

pp. 835-855

Author(s):

Keling Wang ◽

Yaqiong Miao ◽

Ming-Hsiang Chen ◽

Dengfeng Hu

Keyword(s):

Firm Performance ◽

Empirical Test ◽

Critical Factor ◽

State Ownership ◽

Tourism Industry ◽

Sales Growth ◽

Theoretical Assumption ◽

Return On Equity ◽

Corporate Giving ◽

The Impact

Aiming to test a theoretical assumption that corporate giving (CG) could increase sales of tourism firms and hence firm performance, this study empirically investigates whether CG could increase sales growth and enhance firm performance in the Chinese tourism industry. Empirical results can enhance theoretical innovation and development. Panel regression test results reveal three interesting findings and support the theoretical assumption. First, there is a variation in the impact of CG on tourism firm performance. While CG does not significantly affect Chinese travel firm performance, it has a significant effect on hotel firm performance in terms of sales growth, return on asset, and return on equity. Second, state ownership is not a critical factor in the financial impact of CG on travel and hotel firms. Third, the Chinese hotel industry might use CG a short-term image builder and sales and profitability generator rather than as a long-term competitiveness strategy. Lastly, there is an inverted U-shaped relationship between CG and hotel firm performance.

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Service enterprise productivity in action: measuring service productivity

Journal of Service Theory and Practice ◽

10.1108/jstp-06-2017-0104 ◽

2018 ◽

Vol 28 (4) ◽

pp. 524-551 ◽

Cited By ~ 1

Author(s):

Moira Scerri ◽

Renu Agarwal

Keyword(s):

Tourism Industry ◽

Service Firms ◽

Business Systems ◽

Customer Choice ◽

Content Type ◽

Travel And Tourism ◽

Customer Interface ◽

Use Of Technology ◽

Service Productivity ◽

The Impact

Purpose The purpose of this paper is to measure service productivity using the Service Enterprise Productivity in Action (SEPIA) model. The research operationalises only one of the five stakeholder groups, the customer interface which incorporates service complexity (SC), customer interactions, customer channel, customer loyalty (CL) (new) as inputs, and CL (referred and repeat) and willingness to pay as output measures. Design/methodology/approach The research extends our understanding of existing service productivity models with the development of the SEPIA model. Data were collected from 14 organisations operating in the Australian travel and tourism industry, which was analysed using a data envelopment analysis input oriented variable return to scale method as applied to the SEPIA model customer interface. Findings Four key findings from the research include: customer choice and their ability to pay is a determinant of service productivity; service productivity is a two stage process when measured; SC is not categorical; and quality business systems do impact service productivity. Research limitations/implications A limitation of this research is that only one (customer) of the five key stakeholders, customer, employee, manager, supplier and shareholder, was operationalised in this research paper. Practical implications The operationalisation of the SEPIA customer interface using transactional data and measuring non-financial, intangible factors of productivity provide managers with insights on what services to offer, when to invest in or promote the use of technology and whether to spend marketing effort on customer acquisition or customer retention. Originality/value The SEPIA model positions service firms within a social and service value network and provides a range of customer measures that extend the current capital (K), labour (L), energy (E), materials (M) and service (S), KLEMS measure of productivity and can be used to show the impact customers have on service productivity.

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The impact of environmental performance on firm performance: static and dynamic panel data evidence

Structural Change and Economic Dynamics ◽

10.1016/j.strueco.2004.04.004 ◽

2005 ◽

Vol 16 (3) ◽

pp. 395-412 ◽

Cited By ~ 166

Author(s):

Khaled Elsayed ◽

David Paton

Keyword(s):

Firm Performance ◽

Panel Data ◽

Environmental Performance ◽

Dynamic Panel Data ◽

Dynamic Panel ◽

The Impact

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“Chill or thrill”: the impact of the “polarity paradox” on hospitality and tourism

Journal of Tourism Futures ◽

10.1108/jtf-12-2015-0053 ◽

2016 ◽

Vol 2 (1) ◽

pp. 71-78 ◽

Cited By ~ 3

Author(s):

Anna De Visser-Amundson ◽

Annemieke De Korte ◽

Simone Williams

Keyword(s):

Tourism Industry ◽

New Approach ◽

Content Type ◽

Travel And Tourism ◽

Travel Experience ◽

Hospitality And Tourism ◽

The Difference ◽

Hospitality And Tourism Industry ◽

Thrill Seeking ◽

The Impact

Purpose In a society of abundance, complexity, uncertainty and secularisation, consumers seek extreme market offerings. They thereby avoid the grey middle ground and rather seek white or black, or rather utopia or dystopia, in their experiences. This consumer behaviour is coined the Polarity Paradox. The purpose of this paper is to investigate the effect of the Polarity Paradox on travel and tourism and specifically highlight how darker and dystopian type of tourism experiences can add value to the overall tourist experience. Design/methodology/approach The paper is based on literature and trend report reviews to support the direction of the Polarity Paradox trend and the opportunities it presents to the hospitality and tourism industry. Findings Travellers do not seek only beauty and happiness when travelling. Examples of the thrilling or dystopian side of the Polarity Paradox clearly illustrate travellers’ emerging needs to look for the extreme. In fact, new travel and hospitality experiences are all about originality and understanding that whether the experience triggers positive or negative emotions matter less in a market where consumers want to be “shaken up”, surprised, taught something or seek a deeper meaning. The difference with the past is that these same thrill seeking tourists, also seek “white” and chilling experiences and that demands a new approach to market segmentation. Originality/value Until now, the Polarity Paradox has been described as a general consumer trend. In this paper, the authors are the first to analyse its possible impact on hospitality and tourism and in detail describe that black, dystopian and thrilling experiences can be positive when they trigger emotions and reactions meaningful to the traveller. The authors further show that “playing it safe” will not be the future to build successful hospitality and tourism experiences. The examples explore how the hospitality and tourism industry can add elements of “dystopia” and by doing that actually add value to the overall travel experience.

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