Title

A paradigm shift to a new strategy for small island economies: Embracing demand side economics for value enhancement and long term economic stability

Authors

Authors

R. R. Croes

Comments

Authors: contact us about adding a copy of your work at STARS@ucf.edu

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

WOS:000236425900006

ISSN

0261-5177

Share

COinS