The Tourism Markets

Guido Candela and Paolo Figini
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Guido Candela: University of Bologna

Chapter Chapter 10 in The Economics of Tourism Destinations, 2012, pp 311-354 from Springer

Abstract: Abstract As stated many times before, the tourism product is a set of heterogeneous and complementary services, supplied by firms that either directly serve the tourists or indirectly satisfy their demand. In other words, a single tourism demand does not exist (see Sect. 4.2) and tourism should be interpreted as a set of interconnected markets. Each tourism market can be seen as an abstract configuration in which demand and supply meet and in which an equilibrium in terms of quantity produced and price is set. The nature of this equilibrium, its efficiency, and its stability over time heavily depend on the diverse characteristics of the many existing real-world configurations.

Keywords: Tour Operator; Information Asymmetry; Reservation Price; Opportunistic Behavior; Vertical Differentiation (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-3-642-20874-4_10

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