Competition and Contestability in the U.K. Package Tour Industry: Some Empirical Observations

Brian Davies and Paul Downward

Working Papers from Staffordshire University, Business School

Abstract: This paper explores competition and contestability in the U.K. Package Tour Industry (PTI). Using econometric analysis of a panel-data set, evidence is presented that questions the market power/efficiency hypothesis in the PTI. In keeping with Evans and Stabler (1995), there is evidence that the industry is segmented according to the size of the firms. In contrast with Gratton and Richards (1997) the results suggest that it is difficult to support the contestability hypothesis in the industry overall.

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