Futurecasting the tourism marketplace

Authored by: Luiz Moutinho , Ronnie Ballantyne , Shirley Rate

The Routledge Handbook of Tourism Marketing

Print publication date:  December  2013
Online publication date:  January  2014

Print ISBN: 9780415597036
eBook ISBN: 9781315858265
Adobe ISBN: 9781317936206

10.4324/9781315858265.ch41

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Abstract

The tourism industry is by nature a dynamic one, but recent years have witnessed turbulent and chaotic change from dramatic demographic shifts, climate change, technological revolutions, two major terrorist incidents and a global economic crisis, all of which have momentous implications for tourist trade. Yet tourism remains one of the most valuable economic sectors in the world and the European Travel Commission (2012) indicates that even with a backdrop of on-going government austerity limiting and slowing economic growth, tourism demand in Europe has not significantly dropped. Holidays remain an important aspect of annual expenditure – an emotional and protected purchase. Thus, tourism marketers face unique opportunities in a global context that is stifling other industries. But with opportunities come considerable challenges. This environment of unprecedented worldwide flux and uncertainty makes for extremely difficult and risky business decision making. Analyzing future trends or ‘futurecasting’ in the tourism sector has become a critical success factor for marketing managers.

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