|
|
|
|
Conclusions
Despite favourable market prospects local tourism economies have certain difficulties in coming to terms with the consequences of spreading globalisation. The small-to-medium-sized enterprises in particular, which are the suppliers of most tourism products and services, are unable to function on the basis of the "shareholder value" concept. In regions that have already been developed and exploited for many, many years, tourism cannot guarantee high returns on investment - this is one of the idiosyncrasies of the tourism industry. Today, venture capital tends to be invested in leisure and theme parks rather than in tourism destinations. A basic question that needs to be asked is whether or not the "new economy " is compatible with the principle of economic sustainability in the area of tourism.
Prof. Peter Keller
|
