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The importance of workers in labour-intensive industries, such as tourism, is undeniable. In this sense, it has been investigated for decades from various methodological approaches. However, in the academic literature on tourism, the partial least squares-structural equation modelling (PLS-SEM) technique has hardly been used.

Therefore, this work uses that technique to contrast which factors define the employees' wages in the Spanish tourism industry. Additionally, an importance-performance map analysis (IPMA) analysis is carried out, which provides informed decision-making.

Thus, the main results obtained are the verification and measurement of the relationships of Human Capital, Labour Conditions and Market with Wages, and the relation between Human Capital and Labour Conditions. Besides, the improvement points in each variable are identified. Especial emphasis is given to those related to Human Capital and, partially, to the Market.

However, there are certain limitations to this study. Mainly, as the indicators used are given by the 2018 Salary Structure Survey, they are stiff and so the design of the model turns to be more difficult.

Considering the turning point that the temporary cessation of the tourism industry activity due to the COVID-19 pandemic has been, it is essential to take advantage of it to identify and correct existing deficiencies. Therefore, this work aims to be a base document for the identification of these problems.

La importancia de los trabajadores de industrias intensivas en mano de obra, como el turismo, es innegable. En este sentido, se ha investigado durante décadas desde diferentes metodologías. Sin embargo, en la literatura académica en turismo, la técnica PLS-SEM path modelling apenas ha sido utilizada.

Por ello, este trabajo emplea esta técnica para contrastar los factores que definen los salarios de los empleados en la industria turística española. Además, se lleva a cabo un análisis IPMA, que permite la toma de decisiones informada.

Así, los principales resultados obtenidos son la verificación y medida de las relaciones del Capital Humano, Condiciones Laborales y Mercado con los Salarios, y la relación entre Capital Humano y Condiciones Laborales. Además, se identifican los puntos de mejora de cada variable. Se presta un interés especial a aquellos relacionados con el Capital Humano y, parcialmente, el Mercado.

Considerando el punto de inflexión que el cese de actividad temporal de la actividad de la industria turística ha supuesto a causa de la pandemia COVID-19, es esencial aprovechar para identificar y corregir las deficiencias existentes. Además, este trabajo pretende ser un documento base para la identificación de estos problemas.

No obstante, existen algunas limitaciones en este estudio. Principalmente los indicadores utilizados proceden de la Encuesta de Estructura Salarial de 2018, son fijos y, por ende, el diseño del modelo se torna más difícil.

The aim of this chapter is to examine the role of real exchange rates in the relationship between tourist arrival and economic growth in Malaysia over the period of 2000–2018. We disaggregate Malaysian tourists into six geographical regions, namely Asia, Singapore, Europe, Pacific region, Americas, and Africa. Using a non-linear autoregressive distributed lag model, we find that the appreciation of real exchange rates with positive growth of economy plays a prominent role in influencing international tourist arrivals from Singapore, other Asian countries, Pacific region, Europe, and Americas. Our study suggests that real appreciation is important in providing some insights into the effectiveness of growth-led-tourism policies. In line with this, some implications are provided at the end of this chapter.

Despite developments in the fields of technology and health, some people may still have congenital or acquired disabilities. In our world, where one in every seven consumers is disabled, these consumers also have the right to utilize the services offered to them in the best way as the other six. With the developed technology and innovations, it has become easier and more inexpensive for disabled consumers to access products and services. The number of disabled consumers is also increasing day by day in the tourism sector. However, the designs of touristic products are not suitable for every type of disability. The concept in disabled tourism that is known as “Quiet Tourism” in the literature represents the group including consumers with hearing and speech loss. This section aims to present consumers with hearing and speech loss who have to continue their lives this way becoming a new market for accommodation firms and what types of difficulties and opportunities may be encountered. It is aimed to show that the existing infrastructure at accommodation firms is not adequate, but there is a considerable potential.

West Java, one of the provinces in Indonesia, is trying to develop the coastal tourism sector by applying the eco-tourism concept. The observation results found that there were differences in the concept applied by the local government, namely toward mass tourism. Therefore, one of the strategies proposed is developing tourist areas using a combination of eco-tourism and mass tourism. The increase in the tourism sector in this area will not only help the economic growth of the local community but also contribute to the improvement of the economy of West Java. This study aims to estimate the risks that will occur if the developer uses the mix-use method. The research was conducted by interviewing and distributing questionnaires to the Tourism Office, National Disaster Relief Agency, Business Actors and Communities, and Tourists. The method used is descriptive with quantitative analysis using a risk matrix based on AS/NZS 4360-2004 (Australian-New Zealand Standard). Meanwhile, the qualitative analysis used the interview method and Focus Group Discussion (FGD). The findings in this study are that both quantitative and qualitative analyses can provide input through risk identification and priority. This research also provides theoretical and managerial implications.

The growth of tourism development in Malang makes some regions optimize their tourism potential, leading to economic growth in Indonesia. Malang regency has several tourism villages with the concept of sustainable tourism. Using leverage analysis from the multidimensional scaling approach (MDS), we find two sensitive attributes. An analytical hierarchy process (AHP) test was conducted, resulting in the best strategy for each tourism village: developing strawberry-picking tour for Pujon Kidul and new tourism packages related to water attraction for Sanankerto and developing Bromo volcano tourism package for Gubugklakah. These strategies are believed to increase the development of tourist villages without compromising their sustainability.

The development of the tourism and hospitality industry in Belarus has a long-term positive trend. This process is uneven and the growth rate is below the global average. To stimulate the development of the tourism and hospitality industry, measures are being taken in the form of creating visa-free zones, stimulating business activity, holding major sport events. The potential for growth in this industry has not yet been exhausted. The assessment of the competitiveness of Belarus in comparison with the neighboring countries showed that the development of the tourism and hospitality industry requires improvement of the business environment, increase of openness for tourists, strengthening of country marketing in the world tourism market.

This study examines the influence of economic policy uncertainty on financial flexibility before and during the coronavirus disease 2019 (COVID-19) pandemic. Few prior studies have examined this association specifically for debt and cash flexibility.

Using quarterly data from 2016 to 2022, 1014 observations were collected from the S&P Capital IQ database for listed tourism companies in India. The pre-pandemic period is defined as 2016 Q1 to 2020 Q1, whereas the pandemic period is from 2020 Q2 to 2022 Q3. The data are analysed using ordinary least squares, probit, logit and difference-in-difference (DID) estimation.

The evidence of this study suggests a negative association of economic policy uncertainty with debt flexibility during the COVID-19 pandemic. The findings also suggest that COVID-19 induced economic policy uncertainty results in high cash flexibility. This meets the expectations for the crisis period, as firms are likely to hold more cash and less debt capacity to manage their operations. The results are robust for various estimation techniques.

This study is limited to one emerging country and is specific to one non-financial sector. Future research could extend to more emerging countries and include other non-financial sector companies.

The findings of this research are useful for tourism sector managers as they can effectively manage their cash and debt flexibility during crisis periods. They will need to prioritise cash flexibility over debt flexibility to manage operations effectively. Policymakers need to provide clear and stable economic policies to help firms manage their debt levels during a crisis.

To the best of the author's knowledge, no existing studies have investigated the influence of economic policy uncertainty on the financial flexibility of tourism companies before and during the COVID-19 pandemic. Furthermore, this study establishes a novel set of critical determinants, such as economic policy uncertainty.

As digital technologies expand access to new forms of legalized gambling, including sports betting and online gaming, it is important to assess the impact of macroeconomic and equity market outcomes on fund flows into gambling. The authors’ findings will be of interest to policymakers and the gambling industry, as various forms of gambling, including day trading, gain broad public acceptance.

The authors examine the impact of macroeconomic forces, business cycles, and financial market wealth on gambling. The authors propose a nonlinear model linking aggregate gambling expenditures to macroeconomic, stock market, and gambling industry variables. The authors estimate the proposed model using nonlinear estimation procedures.

The authors find that price of wagering, incomes, and supply of gambling opportunities are the primary determinants of wagering demand. Aggregate wagering is negatively impacted by realized stock returns and market volatility, but rises during recessions.

To the best of the authors’ knowledge, the questions posed and addressed in this manuscript have not been addressed in prior literature.

This study aims to investigate the knowledge domain and development trends that appear in the scholarly corpus on religious tourism.

The most common themes evolving in the religious tourism research field are figured out by conducting keyword and trend analyses using the bibliographic data collected from 988 research articles published in Social Science Citation-indexed journals listed in the Web of Science database between 1992 and 2022.

It has been found that the number of publications has increased exponentially. European countries are the major contributors to religious tourism research. Research has mainly clustered around the areas of spiritual experience, identity, cultural heritage, pilgrimage, tourist attitude, behavior and satisfaction. Judaism, Hinduism and Buddhism are religions that have received relatively little research attention.

Future research should focus on the sustainability of religious tourism sites, mitigating the adverse impact of the commercialization of religious tourism products and recovering religious tourism activities from the COVID-19 impact.

The findings are useful for corporate practitioners, site managers and entrepreneurs to take advantage of the valuable opportunities this segment offers. These findings are useful for scholars and policymakers in acquiring the latest knowledge of developments in this field.

The insights obtained by using a holistic approach are valuable for religious tourists who want to understand the importance of visiting religious sites.

This study identifies key themes that have evolved in religious tourism. In so doing, it presents an agenda for pushing this research corpus forward.

This article examines dynamic volatility spillovers between stock index returns of four main hospitality sub-sectors in US during the coronavirus disease 2019 (COVID-19) pandemic. These are tourism and travel, hotel and lodging, recreational services and food and beverages. Volatility spillovers are explicitly used as accurate and informative proxies for risk contagion between sectors during turbulent times.

The authors employ dynamic conditional correlation-generalized autoregression heteroskedasticity (DCC-GARCH) and wavelet coherence analysis (WCA) to analyze the phenomenon. The authors’ timeframe is divided into three main sub-periods, namely the pre-pandemic, the first wave and the second wave periods.

This study’s results reveal immense negative shocks in returns of all four sub-sectors on the Black Monday (8th March 2020). Moreover, high volatility persistence was observed during both waves with an exception of tourism and travel which exhibited lower volatility persistence during the second wave. The authors discovered magnified contagion effects between tourism and travel, hotel and lodgment and recreational services during the first wave of the pandemic with tourism and travel being the main volatility transmitter. Lower magnitudes of spillovers were observed between food and beverages and other sub-sectors with a decoupling effect being evident during the second wave.

This study’s findings contribute to the contagion theory by providing evidence of disproportional volatility spillover among hospitality sub-sectors despite being exposed to similar turbulent economic conditions.

Crucial implications can be drawn from this study’s findings to assist in risk management, asset valuation and portfolio management. The importance of close monitoring, safety measures, international diversification and adequacy of liquid assets during health crises cannot be stresses enough for hospitality firms. Retail investors, speculators and asset managers can take advantage of this study’s findings to design trading strategies and hedge against risk.

A body of knowledge pertaining to effects of crises such as COVID-19 on hospitality stocks has been proliferating. Nonetheless, there is still a relative dearth of empirical literature on volatility spillover between hospitality sub-sectors especially during periods of rising economic uncertainties.