Tourism and the Economic Paradigm

Abstract

This chapter provides an up-to-date review of the core topics pertaining to tourism economics. Particular focus is laid on the system of concepts, principles and theoretical arguments derived from modern economics. In tourism research, the economic perspective advances our knowledge with respect to the mechanism behind tourist behavior, the underpinnings of tourism firms’ efficiency and productivity, the rationale for promoting tourism development, and the global impacts of the tourism sector. This chapter also identifies streams of potential future research concerning the changes in tourism patterns, business dynamism, macroeconomy, and globalization, in the wake of the unprecedented pandemic. To address those research questions thoroughly, it becomes more vital than ever before for tourism economists to pursue interdisciplinary collaboration.