Culture is more and more considered as an important driver of tourism. However, it is critical, for policymakers, to evaluate the potential returns from investments in culture and generally cultural offer, in particular in multiregion settings with a potentially inefficient distribution of...

Culture is gaining increasing importance in the modern tourism industry, and represents a significant force of attraction for tourists (both domestic and international). Cultural tourism allows destinations and regions to expand their customer base, diversify their offer, extend the stay of the...

We analyse the links between soccer match results, bets and stock returns of all listed European soccer teams. Using an event study approach, we measure abnormal returns following wins, ties and losses. Wins are associated with positive abnormal returns, and ties and losses with negative...

This paper investigates the effectiveness of development strategies for tourism destinations. We show that resource investments unambiguously increase tourism revenues and that increasing the degree of tourism sophistication, that is increasing the variety of tourism related goods and services,...

In recent years, several papers have been focussing on various aspects of the tourism destination. The destination is a central issue within tourism studies, embodying in one single concept all the specific and problematic features of tourism, such as its systemic nature, in which “space”...

The Tourism-Led-Growth hypothesis is investigated in this study. We employ a panel of 187 countries for a period that spans from 1995 to 2009. Panel unit root tests confirm that both GDP and tourism receipts are non-stationary. Alternative panel cointegration tests are employed and the results...

The aim of this paper is to analyze theoretically two levels of competition that are relevant in tourism markets, i.e. between and within tourist destinations. In particular, the focus of this paper lies in the relationship between the degree of (exogenous) differentiation between destinations...

Asset liquidity in modern financial markets is a key but elusive concept. A market is often said to be liquid when the prevailing structure of transactions provides a prompt and secure link between the demand and supply of assets, thus delivering low costs of transaction. Providing a rigorous...

We study the frictions in the patterns of trades in the Euro money market. We characterize the structure of lending relations during the period of recent financial turmoil. We use network-topology method on data from overnight transactions in the Electronic Market for Interbank Deposits (e-Mid)...