The impact of COVID-19 pandemic on the psychological needs of tourists: implications for the travel and tourism industry

2021 ◽  
Vol 38 (2) ◽  
pp. 155-166
Author(s):  
Catherine Cheung ◽  
Miki Takashima ◽  
Hyunjung (Helen) Choi ◽  
Huijun Yang ◽  
Vincent Tung
Keyword(s):  
Psychological Needs ◽  
Tourism Industry ◽  
Travel And Tourism ◽  
The Impact

The future of travel

2020 ◽  
Author(s):  
Dr Simon Hudson
Keyword(s):  
Health And Safety ◽  
Tourism Industry ◽  
Lessons Learned ◽  
Travel And Tourism ◽  
The Future ◽  
The Subject ◽  
Travel Industry ◽  
And Behavior ◽  
The Impact ◽  
Global Travel

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.

Impact of Information and Communication Readiness on the Tourism Industry

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.

Digital Imaging Trek

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.

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

2019 ◽  
Vol 25 (5) ◽  
pp. 820-849 ◽  
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.

scholarly journals Service enterprise productivity in action: measuring service productivity

2018 ◽  
Vol 28 (4) ◽  
pp. 524-551 ◽  
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.

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

2016 ◽  
Vol 2 (1) ◽  
pp. 71-78 ◽  
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.

Post-epidemic factors influencing customer's booking intent for a hotel or leisure spot: an empirical study

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Praveen Ranjan Srivastava ◽  
Kinshuk Sengupta ◽  
Ajay Kumar ◽  
Baidyanath Biswas ◽  
Alessio Ishizaka
Keyword(s):  
Hospitality Industry ◽  
New Age ◽  
Tourism Industry ◽  
Buying Behavior ◽  
Sustainable Business ◽  
Content Type ◽  
Travel And Tourism ◽  
Future Direction ◽  
Customer Trust ◽  
The Impact

PurposeThe new coronavirus is a highly infectious disease with mutating variants leading to pervasive risk around geographies and public health system. The economy has been suffering due to the strategic lockdown adopted by the local administrative bodies, and in most of the countries, it is further leading to a major wave of unemployment with millions of job and business losses affecting the hotels, travel and tourism industry widely. To attain a sustainable business in the post-pandemic situations, the industry now must think of information system approaches to convince tourists to feel safe with the most hygienic hospitality and services to be offered in any property. The key aspect of the study is to provide the impact of new-age AI-driven technology solutions that will dominate the future direction of the modernized hospitality industry promising robust health-safety measures in a hotel, and further help create sustainable business and leisure travel facilities to cope with post-epidemic scenarios.Design/methodology/approachThe study emphasizes to provide a robust technology-oriented framework based on a mixed research method that would help hotels to adopt and implement new-age AI-driven solution within the hotel premise to serve customers with at most hygiene, contactless service and thereafter, aiming for faster recovery of businesses and regaining customer trust to fuel booking intent in the post-epidemic scenario.FindingsThe paper provides a technology-focused solution that would impact hotel industries' post-pandemic scenario. The study contributes to helping boost the tourism industry using information management solutions such as biosensors, robotic room services and contactless hosting. The findings show the adoption of robots/RPA solutions and Biosensors by the industry will be a disruptive paradigm shift.Originality/valueThe study expands the scope of research in information technology and management with a focus on the hospitality industry while contributing to new factors impacting customer buying behavior in the industry.

Exploring relationship between sustainability and firm performance in travel and tourism industry: a global evidence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shernaz Bodhanwala ◽  
Ruzbeh Bodhanwala
Keyword(s):  
Stock Market ◽  
Financial Performance ◽  
Market Value ◽  
Tourism Industry ◽  
Content Type ◽  
Sustainability Performance ◽  
Travel And Tourism ◽  
Stock Market Performance ◽  
The Impact ◽  
The Relationship

Purpose The study aims to investigate the relationship between aggregate and individual dimensions of sustainability and financial and stock market performances of the firms in the travel and tourism industry (TTI) across different geographies. Design/methodology/approach The sample under study consists of 146 firms belonging to TTI that have consistently obtained environmental, social and governance (ESG) rating over the period 2011–2017 as a part of Thomson Reuters Asset 4 ESG database. An empirical multivariate panel data model is developed to analyse the impact of sustainability (ESG) on firm profitability and market value within three tourism-related industries (transportation, hotel and leisure). Findings The study extends the existing literature by investigating the impact of each of the vital dimensions of sustainability performance – ESG – and examines how each dimension would affect financial performance and market value among firms within three tourism-related industries (transportation, hotel and leisure). Among the three tourism industries, hotel industry is observed to have the highest ESG compliance, followed by the transportation industry. Based on the agency and stakeholder theory, the authors hypothesized all ESG components to have significant positive effect on the financial and stock market performance; however, the results reveal that each dimension has different impact on financial performance and market value of firms in the tourism industry. Research limitations/implications The study could help firms in the travel and tourism industries to understand which of the dimension of ESG activities is significantly important for their financial and stock market performance. Originality/value The unique contribution of this study is that it considers wider definition of the term “Sustainability” and examines the relationship between financial and stock market performances of the firms and each component of ESG. This is one of the few studies at the global level that provides much needed evidence in the area of sustainability performance by the travel and tourism firms.

Digital Imaging Trek

2009 ◽  
pp. 475-498
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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