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The research question addressed is whether an event portfolio analysis rooted in financial portfolio theory can yield meaningful insights to complement two approaches to event portfolios. The first approach is extrinsic and rooted in economic impact analysis where events need to demonstrate a financial return on investment. In the second approach events are valued ally, with every event having inherent value and the entire portfolio being valued for its synergistic effects and contribution to social and cultural goals. The paper aims to discuss these issues.

Data from visitors to four events in the Sunshine Coast region of Australia are analyzed to illustrate key points, including the notion of “efficient frontier.”

Conceptual development includes an examination of extrinsic and intrinsic perspectives on portfolios, ways to define and measure value, returns, risk, and portfolio management strategies. In the conclusions a number of research questions are raised, and it is argued that the two approaches to value event portfolios can be combined.

Only four events were studied, in one Australian local authority. The sample of residents who responded to a questionnaire was biased in terms of age, education and gender.

Authorities funding events and developing event portfolios for multiple reasons can benefit from more rigorous analysis of the value created.

This analysis and conceptual development advances the discourse on portfolio theory applied to event management and event tourism.

This study aims to advance both theory and praxis for event portfolio management in cities and destinations. An experiment has been conducted with professional event practitioners in a city to determine their opinions and strategies for balancing value and risk within their event portfolio. The first objective is to rank 14 of the city's recurring events in terms of both value and risk. Second, the events are plotted in a two-dimensional chart of value versus risk with the objective to differentiate between the 14 events. The third objective is to describe the event characteristics that event professionals associate with value and risk.

Results derive from an experiment involving the forced Q-sort procedure and professional event managers from a city renowned as an “event capital”. Empirical evidence is analysed by the constant comparative method of how events are being evaluated by ten professionals working for a DMO.

Economic impact and image effects are characteristics of high-value events as is an opportunity to create relations with event owners for future collaboration. Local community involvement is important for all events. The issue of portfolio fit was a common argument for weak-value events.

Results are based on the opinions of ten DMO employees in one large city. Conclusions help build event portfolio theory.

The results and methods are useful for event strategists and evaluators. In particular, the management of event portfolios and policies covering events in cities and destinations can benefit from the documented method for explicitly balancing risks with perceived value.

A portfolio perspective is also suggested as an approach to analyse the total tourist attractions portfolio of a destination.

Opinions regarding public value and risk by civil servants who work with events have not been studied before. The constant comparative method produces results that can be applied to policies governing events. In terms of theory development, concepts from financial portfolio management, product portfolio management and risk management are used to develop event portfolio design and management, and insights are gained on trade-offs in the process. The plot of the events in a two-dimensional chart of value versus risk clearly differentiated the 14 events and is an original contribution.

The paper aims to explore a major issue in international marketing: how to build a global brand in a way that makes a strong local connection.

Using qualitative research methods on a single case, the Brisbane Goodwill Games, the processes used in the staging of this major sport event are analyzed. In particular, the stakeholder relations employed by the marketing department of the Goodwill Games Organization are investigated and a process model is developed that explains how a global brand can be built locally.

A major outcome of the paper is a revision to the four‐step Freeman process to make it more proactive; and three major principles for effective stakeholder management are articulated. The findings demonstrate that stakeholder analysis and management can be used to build more effective event brands. Stakeholder theory is also proposed as an appropriate and possibly stronger method of building inter‐organizational linkages than alternatives such as network theory.

Previous literature has generally dealt with the global brand issue in terms of the standardization versus adaptation debate, and the extent to which the marketing mix should be adapted to meet local needs in foreign countries. This research provides a unique extension to this literature by demonstrating how the brand itself needs to be modified to meet local needs.

This paper seeks to develop a framework for comparisons and benchmarking between wine tourism destinations.

A regional case study was undertaken, including data from a survey of 23 wineries in Canada's Okanagan Valley, British Columbia. The survey provides the winery perspective on development of wine tourism, as well as opinions on what should be done to improve wine tourism.

Wineries were found to be pursuing tourism developments, but kept little data on visitors and related spending. Their goals and opinions on what is needed in the region revealed that they are mostly oriented toward domestic, independent travelers. One hypothesis emerging from this case study is that the growth and increasing sophistication of wine tourism infrastructure, both at wineries and elsewhere in the region, is in large part a function of market potential. On the supply‐side, a critical mass can be facilitated through establishment of major, landmark wineries that are purpose‐built as tourist attractions.

Using this profile of the Okanagan, implications are drawn for comparisons and benchmarking among wine tourism destinations, including a suggested process and measures.

The single case study limits generalizability to other destinations, and the achieved sample of wineries does not necessarily reflect the major corporate wineries in the Okanagan Valley. More systematic comparison of wine regions is recommended.

This research makes an original contribution for applying the concept and method of benchmarking to wine tourism destinations. It is of value to the wine industry, destination marketers, and host community planners.

When people in Michigan had hard‐wearing outdoor clothing on their shopping list, it’s a good bet they’d be off to Getz’s family‐run store which had been in business for the past 100 years and had built up trust between generations of customers and suppliers. Getz had been retailing their comprehensive lines of good‐quality clothing before many of their present‐day customers were born, and they’d even been doing business with some of their current suppliers for 60 to 80 years.

One of the most significant shifts in contemporary business thinking in the tourism and event industry is co-creation and the framework for adopting this collaborative approach is integral for achieving the fundamental goal of value creation. The purpose of this paper is to enhance the understanding of sustainable events by analysing value co-creation processes from the attendees’ perspective.

The methodical framework comprises two steps. First, the study analyses the literature related to festivals and value co-creation, with a focus on sustainable festivals. Second, data rooted research based on grounded theory is conducted, using 12 semi-structured interviews with music festival attendees.

Three distinct festival attendee categories were identified: the sustainable co-creation type, the calculating type and the experience type. Within each category, attendees have different attitudes, personal values and experiences as well as individual assessments of what exactly constitutes value and value creation. These three categories are regarded as key factors in describing different kinds of value co-creation processes in the festival context.

Considering these three types and addressing their personal values, beliefs and value perceptions will allow festival organisers to better manage the development of sustainable festivals and their role as value co-creators.

This paper addresses the need to better understand how value is created in a festival context. The application of grounded theory also considers scholarly calls for a deeper search into the meaning and essence of value for festival attendees.

The purpose of this paper is to examine external event stakeholders’ strategic actions to advance their interests in tourism events, based on their resource relationships with the event. It takes the novel approach of examining stakeholder influence strategies from the external stakeholder perspective.

The study used a qualitative case study research design, with five government-owned tourism events in Sarawak, involving primary data from 37 interviews with external stakeholders.

The stakeholders perceived that they were not overly dependent on the events studied due to their short duration. Two types of resource relationships were found: event-dependent stakeholders and event non-dependent stakeholders. Stakeholders were found to be deploying various influence strategies, which were largely subtle, positive and collaborative in nature, regardless of whether they were event-dependent or event non-dependent stakeholders.

The findings are limited to the context examined in this study. Going forward, stronger public–private partnerships and formalised resource relationships are needed to ensure continuity of resource supplies and greater event innovation.

The study adds to the knowledge of how event external stakeholders exert their influence in accordance with their interests and resource dependency relationship with government-owned tourism events in the context of Sarawak, Borneo.