Analyzing the Symbiotic Relationship: Tourism Economics, Consumer Behavior, and New Age Practices as Coping Mechanisms for Emerging Challenges in Hospitality and Tourism

Sunil Kumar (), Sanjeev Kumar Saxena, Bhola Chourasia and Nishi Priya
Additional contact information
Sunil Kumar: Institute of Hospitality, Management and Sciences, Director Academics
Sanjeev Kumar Saxena: Assam University, Associate Professor, Department of Hospitality & Tourism Management
Bhola Chourasia: Assam Down Town University, Associate Professor & Associate Dean
Nishi Priya: Amity School of Hospitality, Amity University, Associate Professor

A chapter in Proceedings of the International Conference on Innovation and Regenerative Trends in Tourism and Hospitality Industry (IRTTHI 2024), 2024, pp 108-138 from Springer

Abstract: Abstract This research paper aims to comprehensively explore and analyze the intricate dynamics within the contemporary hospitality and tourism industry, addressing challenges posed by economic uncertainties, environmental sustainability concerns, and health crises, exemplified by the recent COVID-19 pandemic. The purpose of the study is to illuminate the nuanced relationships between economic resilience, sustainability practices, consumer behaviors, and the emergence of New Age practices in the industry. The methodology involves a rigorous approach, incorporating hypothesis testing, regression analysis, and data interpretation to uncover key insights. The findings reveal a substantial positive correlation between annual travel expenditure and travel frequency, emphasizing the central role of financial capacity in shaping travel behavior. Additionally, age-related distinctions in travel motivations are identified, with younger demographics showing a heightened interest in cultural exploration. The study highlights the association between preferences for cultural exploration and specific accommodation choices, particularly favoring vacation rentals. Furthermore, gender-based differences in culinary preferences underscore the need for tailored offerings for female travelers. These discoveries provide valuable guidance for industry stakeholders navigating the evolving landscape of hospitality and tourism, offering actionable insights for strategic decision-making and targeted marketing.

Keywords: Hospitality and Tourism; Tourism Economics; Consumer Behavior; Sustainable Tourism; Wellness Tourism (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-437-2_9

Ordering information: This item can be ordered from
http://www.springer.com/9789464634372

DOI: 10.2991/978-94-6463-437-2_9

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().