Title
A paradigm shift to a new strategy for small island economies: Embracing demand side economics for value enhancement and long term economic stability
Abbreviated Journal Title
Tourism Manage.
Keywords
tourism; small island economies; globalization; competitiveness; economic development; demand; value and policy; SMALL STATES; TOURISM; GROWTH; Environmental Studies; Hospitality, Leisure, Sport & Tourism; Management
Abstract
The article answers three interrelated questions pertaining to small island economies and tourism development under the condition of globalization: (1) why is tourism relevant for small island economies; (2) why is a supply perspective inappropriate for these economies; and (3) why is a demand perspective more appropriate for small island economies in the era of globalization? Empirical realities indicate that small islands have performed well in specializing as tourist destinations, despite their size constraints and resulting disadvantage in economic terms. The Caribbean region is an appropriate proxy for small island economics. However, globalization may be taking its toll on sectoral specialization in the Caribbean as a development strategy. The supply side strategy seems to have lost its effectiveness. To reverse this trend, the study proposes the implementation of new tourism strategies based on a demand focused approach to sustain value enhancement. These strategies have important managerial and policy implications. (c) 2005 Elsevier Ltd. All rights reserved.
Journal Title
Tourism Management
Volume
27
Issue/Number
3
Publication Date
1-1-2006
Document Type
Article
Language
English
First Page
453
Last Page
465
WOS Identifier
ISSN
0261-5177
Recommended Citation
"A paradigm shift to a new strategy for small island economies: Embracing demand side economics for value enhancement and long term economic stability" (2006). Faculty Bibliography 2000s. 4675.
https://stars.library.ucf.edu/facultybib2000/4675
Comments
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