From Volume to Value: Rethinking Tourism Destination Competitiveness through Governance, Sustainability and Capital Productivity

Panayiotis Curtis, Despina Sdrali and Constantinos Apostolopoulos

EconStor Conference Papers from ZBW - Leibniz Information Centre for Economics

Abstract: This paper develops a value-based framework for assessing tourism destination competitiveness, moving beyond volume-driven metrics that fail to capture long-term value, capital efficiency, and resilience. Drawing on research from 2000-2021, it integrates financial analysis with strategic management and sustainability governance. Competitiveness is defined through the interaction of three dimensions of capital efficiency, strategic positioning and adaptability in alignment with environmental, social and governance principles. The framework connects firm performance with sector dynamics and destination governance, offering a multi-level view of value creation. The analysis suggests that volume-driven models lead to inefficiency and lower resilience, whereas value-based strategies enhance long-term performance. The study proposes a unified analytical tool for Destination Management and Marketing Organizations (DMMOs) to support an effective and efficient decision making process for a sustainable and resilient tourism development

Keywords: value-based competitiveness; capital productivity; destination governance; sustainability; resilience; ROTA-DuPont ratio (search for similar items in EconPapers)
JEL-codes: D24 Q56 R11 Z32 (search for similar items in EconPapers)
Date: 2026
New Economics Papers: this item is included in nep-mac and nep-tur
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:esconf:344151

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