scholarly journals Evaluation of the Virtual Economic Effect of Tourism Product Emotional Marketing Based on Virtual Reality

2021 ◽  
Vol 12 ◽  
Author(s):  
Manati Talafubieke ◽  
Sheng Mai ◽  
Nuermila Xialifuhan
Keyword(s):  
Virtual Reality ◽  
Economic Performance ◽  
Economic Effect ◽  
Economic Benefits ◽  
Tourism Industry ◽  
Internet Technology ◽  
Consumption Structure ◽  
Virtual Tourism ◽  
Tourism Product ◽  
The Impact

Rapid development of Internet technology has led to great changes in all fields of life. Tourism industry has also gone to the Internet with the change of the times. Regarding the application of Internet technology in tourism, in fact, virtual tourism products are directly used to promote economic development. Online tourism stores have all kinds of tourism information in the database, realize network roaming, provide convenient information services for both the supply and demand of tourism, and can realize the rapid and stable sustainable development of tourism. This article mainly studies the evaluation of the virtual economic effect of emotional marketing of tourism products based on virtual reality (VR), the meaning algorithm of VR, etc., analyzes the virtual economy of tourism products based on VR, and helps tourism enterprises to grasp the needs of tourism consumers more accurately, so as to design products and services that are more in line with the demands of tourism consumers, the process of ultimately improving the user value. This study mainly uses the VR method, VR platform eye map processing, VR eye map regional detection and feature extraction method, and VR tourism product emotional marketing related experiments, to study the evaluation of the virtual economic effect of tourism product emotional marketing based on VR. The economic performance information of the virtual tourism industry is equivalent to the amount of these indicators, and the impact of the comprehensive evaluation on the economic performance of virtual tourism is quite equal. The results show that from 2017 to 2020, the virtual economic revenue of VR tourism product emotional marketing increased from 50 million to 1 billion. However, people give more importance to the tourism experience brought by virtual tourism products, and the reasonable consumption structure of virtual tourism hinders the improvement of tourism economic benefits. To promote the rationalization of the consumption structure of virtual tourism, the basic industry of tourism consumption is developed and the necessary design and processing is increased, in order to increase the supply of tourism products and to enrich tourism consumption.

scholarly journals ASSESSMENT OF THE ECONOMIC IMPACT OF THE REGION'S TOURISM INDUSTRY: MULTIPLICATIVE EFFECT

2021 ◽  
Vol 71 (3) ◽  
Author(s):  
Oksana Pidvalna ◽  
Svitlana Bohuslavska
Keyword(s):  
Information Technologies ◽  
Economic Effect ◽  
Tourism Industry ◽  
Retail Trade ◽  
Transport Infrastructure ◽  
Tourism Product ◽  
Main Indicator ◽  
Multiplier Effect ◽  
Business Entities ◽  
The Impact

The tourism industry is expanding its influence on the region’s economy by increasing the accessibility and accessibility of tourist facilities (development of transport infrastructure, communication and information technologies, formation of extensive networks of the hospitality industry, wholesale and retail trade, etc.). A characteristic feature of the regional tourism industry is the multiplicative economic effect, which is manifested through the positive dynamics of economic indicators of business entities involved in the business process of creating and implementing a comprehensive tourism product. The paper proves that the sphere of tourism is formed and developed in the relevant area under the influence of various factors that are reproduced in this area. However, the sphere of tourism itself is considered as a factor that influences and changes the socio-economic development of the region. The main indicator of the multiplier effect is the cost of tourists, so the policy of the region should be aimed at maximally stimulating such costs. This is the first task of maximizing the multiplier effect. The second task is to reduce the level of savings. Recognizing the fact that the impact of the multiplier effect of tourism, compared to the impact of other activities, is the most significant because it is a catalyst for the development of many industries, considering existing models for calculating the generalized multiplier (and on their basis), the author proposes to create a method of accounting for the indirect impact of tourism on a number of components of the economy and social sphere (differentiated model of the multiplier) of the region and the country as a whole. The assessment of individual components of the tourism multiplier should be based on a clear methodological basis and the availability of appropriate software. Thus in each component of the tourist multiplier the contribution to the corresponding sector of economy and social policy of the state should be considered. Thus, the use of a tourism multiplier to assess the impact of social processes on the tourism industry makes it possible to determine the equilibrium relationship between consumption and income, ie the process of income generation in different sectors of the economy, at the expense of tourists and tourists.

The Impact of Digital Transformation and Virtual Reality in Tourism Marketing

2021 ◽  
pp. 1-14
Author(s):  
Ali Yuce
Keyword(s):  
Virtual Reality ◽  
Communication Technologies ◽  
Tourism Industry ◽  
Digital Transformation ◽  
Information Communication Technologies ◽  
Information Communication ◽  
Tourism Marketing ◽  
Body Of Knowledge ◽  
Tourism Product ◽  
The Impact

The study is trying to build and present a body of knowledge about the relationship between growing digital transformation and the tourism industry from the marketing perspective. As information communication technologies became more sophisticated and affordable with their size, price, and functionalities, more innovative marketing approaches are emerged to influence the consumers' behaviours and perceptions that ultimately influence intention to visit a tourism product or service. Integration of smartphones with virtual reality has revolutionized digital marketing and the tourism industry by influencing consumers' attitudes and behaviours more than other technologies. Moreover, discovering the crucial features of VR technology can help to increase customer satisfaction and improve business growth in the tourism industry. Therefore, this chapter strives to expand our understanding by exploring the functionalities and unique features of VR technology for productivity growth, consumer engagement, and creating alternative digitalized tourism opportunities.

The Impact of Economic Crisis on Tourism Industry: A Bangladesh Perspective

2016 ◽  
Vol 2 (1) ◽  
Author(s):  
Md. Ziaul Haque
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Political Crisis ◽  
Strong Impact ◽  
Negative Consequences ◽  
Policy Makers ◽  
Tourism Product ◽  
International Tourist ◽  
Sustained Recovery ◽  
The Impact

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money

The Impact Of Economic Crisis On Tourism Industry: A Bangladesh Perspective

2015 ◽  
Vol 1 (1) ◽  
pp. 15
Author(s):  
Md. Ziaul Haque
Keyword(s):  
Economic Crisis ◽  
Tourism Industry ◽  
Political Crisis ◽  
Strong Impact ◽  
Negative Consequences ◽  
Policy Makers ◽  
Tourism Product ◽  
International Tourist ◽  
Sustained Recovery ◽  
The Impact

The tourism sector is experiencing numerous challenges as a result of the global economic crisis. After a significant contraction in 2009, tourism rebounded strongly  in  2010  and  in  2011  the  international  tourist  arrivals  and  receipts  are projected to increase substantially. The Tourism industry is expected to show a sustained recovery in 2012. The crisis has particularly strong impact and slightly negative consequences in Bangladesh. The country is undergoing a political crisis, as well, and it seems that the forthcoming elections may be the only solution for the restoration of stability and social peace.  In addition, tourism can be the driving force behind Bangladesh economic recovery. However, for its achievement the country’s policy makers should take several measures towards restructuring and improving the sector. These measures include: enhancement of alternative forms of tourism; environmental protection; creation of quality infrastructure; and boost of competitiveness through a tourism product that offers value for money

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 An overview of the tourism economic effect in the European Union Member states

Turizam ◽  
2020 ◽  
Vol 24 (4) ◽  
pp. 165-177
Author(s):  
Gordana Petrović ◽  
Darjan Karabašević ◽  
Svetlana Vukotić ◽  
Vuk Mirčetić
Keyword(s):  
European Union ◽  
Economic Effect ◽  
Research Area ◽  
Tourism Industry ◽  
Economic Effects ◽  
The European Union ◽  
Economic Activities ◽  
Tourist Destinations ◽  
The World ◽  
The Impact

Tourism has a notable role in the economies of many countries, and particularly in the countries of the European Union, which are still one of the world's most recognized and visited tourist destinations. The paper aims to analyze the impact of the tourism industry on the economy of the European Union. In this context, the paper is based on research and literature review, in particular, statistics data of Eurostat and the World Travel and Tourism Council. The results achieved by the tourism industry are reflected through certain economic indicators: GDP, employment rate, income, the balance of payments, turnover and consumption. The research area is one of the most visited tourist destinations in the world, which generates significant tourist turnover and justifies the status of an extremely important determinant of economic development. The well managed tourism industry complements other economic activities and increases the income of each EU Member State, and the tourism industry has direct and indirect, positive and negative economic effects.

scholarly journals How do traditional Māori values affect the sustainability of Māori tourism businesses?

2021 ◽  
Author(s):  
◽  
Adam Ransfield
Keyword(s):  
New Zealand ◽  
Research Question ◽  
Social Science Research ◽  
Science Research ◽  
Tourism Industry ◽  
Structured Interviews ◽  
Business Sustainability ◽  
Tourism Product ◽  
Kaupapa Māori ◽  
The Impact

<p>The Māori economic asset base has seen significant growth over the past 100 years. Research estimates the Māori economy to be valued at 50 billion (NZ Foreign Affairs & Trade, 2018). While this figure represents the Māori economy, Māori tourism makes a significant economic contribution to this asset base. When considering the different aspects of the New Zealand tourism product, a key aspect that sets New Zealand tourism apart from other destinations is the unique Māori culture. This cultural aspect is a key motivating factor for international tourists intending on visiting New Zealand.  Māori tourism businesses offer a range of tourism products and services that are embedded in, and informed by Māori values. When incorporated in business, many of these traditional Māori values align closely to the three pillars of business sustainability. Literature on Māori tourism, Māori values and business sustainability provide some insight into this phenomenon. However, little is known about how these three components interrelate. Ultimately very little is known about how traditional Māori values impact the business sustainability of Māori tourism businesses. The aim of this thesis is to investigate whether Māori tourism businesses incorporate traditional Māori values into their business and if so, how does the application of these values affect the sustainability of Māori tourism businesses.  Developed from an interpretive social science research paradigm aligned with Kaupapa Māori research, this thesis assesses the impacts of the incorporation of Māori values on the business sustainability of Māori tourism businesses. Semi-structured interviews were selected as an appropriate method of data collection. 12 respondents from eight Māori tourism businesses were interviewed and their responses along with an analysis of the wider literature enabled the researcher to answer the overarching research question – how are traditional Māori values affecting the business sustainability of Māori tourism businesses?   Key research findings include the following: the importance of hiring Māori, developing cultural capacity of staff and stakeholders, preventing cultural misappropriation, providing opportunities for local communities, the relationship of Māori with the land, the importance of sustainable relationships, the impact of climate change on Kaitiakitanga, and the importance of making a profit – but not at the detriment of culture and the environment. The findings identified that to have the ability to implement sustainable practices requires financial sustainability.  This thesis makes a contribution to the literature on Māori values, Māori tourism and business sustainability by providing a greater understanding of which Māori values are applied by Māori tourism businesses and how these values impact business sustainability. In particular, this thesis has done something that previous literature has not, that is, it has attributed the specific effects of individual Māori values against the pillars of business sustainability. This gives the indication of which values have the greatest impact on business sustainability. Finally, in accordance with Kaupapa Māori research, this thesis has provided a practical contribution to the Māori tourism industry. This contribution is in the form of recommendations made to enhance the business sustainability of Māori tourism businesses.</p>

scholarly journals Asymmetric Impact of Institutional Quality on Tourism Inflows Among Selected Asian Pacific Countries

2020 ◽  
Vol 12 (3) ◽  
pp. 1223 ◽  
Author(s):  
Muhammad Asif Khan ◽  
József Popp ◽  
Mirza Nouman Ali Talib ◽  
Zoltán Lakner ◽  
Muhammad Atif Khan ◽  
...  
Keyword(s):  
Institutional Quality ◽  
Threshold Level ◽  
Economic Benefits ◽  
Tourism Industry ◽  
Asia Pacific ◽  
Distributed Lag ◽  
Long Run ◽  
Asymmetric Impact ◽  
Asian Pacific ◽  
The Impact

From an idealistic viewpoint, the existence of the tourism industry in a country/region is a blessing because of its anticipated sustainable economic benefits. To turn this idealistic state into a realistic one, institutions need to play a pivotal role in optimizing the desired incentives. The present study examines the asymmetric role of institutional quality in stimulating tourism inflows (receipts and arrivals) in selected Asia Pacific countries involved in tourism. The previous literature has established that improving institutional quality attracts tourism inflows to a destination. However, the literature fails to identify the specific point (threshold level) above (below) which the relationship turns positive (negative). To the best of our knowledge, this is the first study that estimates the asymmetries in the nexus of institutions and tourism inflows, using robust nonlinear autoregressive distributed lag approach. Our results show that the tourism inflow in Asian Pacific countries responds asymmetrically to any changes in institutional quality, and there is a single threshold of 7.52 points, where the impact of institutional quality reverses. We conclude that our findings are robust to the alternative measures of tourism inflows. The study offers useful policy inputs for devising short and long-run policies for the betterment of the institutional framework in the region by understanding the asymmetric impact of institutional quality on tourism inflow.

TOURISM INDUSTRY AND THE COVID-19 PANDEMIC: IMPACT AND CONSEQUENCES

2021 ◽  
Vol 7 (201) ◽  
pp. 49-60
Author(s):  
A.G. Sarafanova ◽  
◽  
A.A. Sarafanov ◽  
Keyword(s):  
Virtual Reality ◽  
Tourism Industry ◽  
Pricing Strategies ◽  
Technological Level ◽  
Coronavirus Infection ◽  
The Russian Federation ◽  
The Republic ◽  
The Impact ◽  
The Relationship ◽  
Tourist Flow

The study aims to explore the relationship between the pandemic and the tourism industry. The emergence of infectious diseases is one of the consequences of tourism and mobility of citizens. The article examines the scientific research of foreign authors on the impact of epidemiological diseases on the tourism industry. The pricing strategies of travel companies caused by the policy of curbing the spread of coronavirus infection are analyzed. The authors cite some forms of adaptation of the tourism industry to the conditions of the COVID-19 pandemic (in such countries as Costa Rica, Jamaica, the Republic of Fiji, Finland, Greece, Iceland, Israel, Japan, the UAE, China). A statistical analysis of the tourism development in the Russian Federation (the number of incoming and outgoing tourists, the number of hotels and similar accommodation facilities) was carried out. The COVID-19 pandemic has reoriented the outbound tourist flow to domestic destinations. The advantages of developing domestic trips in comparison with international ones regarding their role in the economic development of regions are presented. The pandemic has led to an inevitable surge in the use of digital technologies due to the norms of social distancing and nationwide restrictions. One of the most popular forms of technological applications in the tourism industry is virtual reality. The use of virtual reality can contribute to the creation of a new, more sustainable model of tourism. The article presents four scenarios for the recovery of world tourism, developed by the McKinsey Global Institute and the Oxford Institute of Economic Policy (Oxford Economics). The authors identified priority areas of transformation of the tourism industry in the post-pandemic period, including at the technological level.

Are environmental strategies profitable for companies? The key role of natural competences from a resource-based view

2017 ◽  
Vol 55 (10) ◽  
pp. 2126-2148 ◽  
Author(s):  
Franck Brulhart ◽  
Sandrine Gherra ◽  
Magalie Marais
Keyword(s):  
Economic Performance ◽  
Economic Benefits ◽  
Equation Modeling ◽  
Resource Based View ◽  
Content Type ◽  
Simultaneous Development ◽  
Environmental Strategies ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to investigate the relationship between proactive environmental strategies (PES) and economic performance from a resource-based view. The authors determine the nature of this relationship and the processes and conditions that are involved. The mediating role of natural competences is a major focus, particularly the effect of their simultaneous development on economic performance. Design/methodology/approach The authors use structural equation modeling on a sample of 188 companies from the food-processing and household products industries in France. Findings The results confirm the positive impact of PES on economic performance. Unlike the natural competences individually, the simultaneous development of these competences mediates the relationship. The results also highlight the influence of conventional competences on economic performance and the impact of organizational and procedural competences on the level of simultaneously developed competences. Practical implications The study demonstrates the economic benefits of PES to practitioners. Moreover, it provides them the information on the key role of natural competences and how they can be developed to make PES profitable. Originality/value The findings support a “win-win” view of the PES-economic performance relationship, whereas prior studies showed contrasting evidence. The main contribution lies in the consideration of natural competences in this relationship and in their operationalization.

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