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The purpose of this paper is to analyse how London Interbank Offered Rate Index (LIBOR) and the spread between LIBOR and the base rate of interest as set by the Bank of England (BoE) influences the variation in house prices in the UK.

This paper uses monthly data over a long time series, since 1986, to investigate the relationships between house price and LIBOR. Data are drawn from several different sources to include housing, financial and macro-economic variables. The time series is sub-divided into a series of splines based on stages in the economic and property market cycle. Both value-based and percentage change models are developed.

The results show that BoE base/LIBOR margin variable has a strong positive and significant effect on house price; however, the percentage change model infers a weaker and inverse relationship. The spline analysis re-emphasised the significance of the BoE base/LIBOR margin variable. Where variation between base rates and LIBOR is reduced, a significant positive effect can be observed in the average house price; however, where significant variation exists, the BoE base/LIBOR margin has little effect and LIBOR itself becomes a significant driver.

The results highlight that the predictive qualities of the BoE base/LIBOR margin, as the contribution of this margin to the explanation of house price, exceeds both the base rate and LIBOR variables individually. Also highlighted is the contribution of unemployment to the explanation of house price. In both the value and percentage change models, unemployment is shown as a negative and highly significant contributor.

Previous papers have demonstrated the important linkage between house price and interest rates, the originality in this paper lies in examining the impact of LIBOR and the spreads between LIBOR and base rate as key variables influencing variation in UK house prices.

The seasonality in the behavior of travelers is something that goes back to the origin of the trips themselves. This seasonality is due to multiple factors, some easy to counteract and others difficult to solve. But, regardless of the causes, it is a phenomenon that generates significant negative impacts on society and the environment in which the phenomenon of tourist seasonality occurs. All tourist destinations have seasonality, but in some cases, it is very high and in others it has a minimal incidence. The objective of this chapter is to ponder the impacts and consequences of seasonality in regions with a strong tourism development, allowing to put into context the aspects of society impacted by this phenomenon and the positive implications that the reduction of seasonality would have. For this, an analysis of a theoretical model with two regions in opposite situations is carried out, raising the possible effects of a high seasonality. The cases of the Balearic Islands and the Canary Islands are also reviewed, as real examples of the regional typologies taken into consideration in the theoretical model. This seeks to ponder the problems attributable to seasonality. As a final reflection, the enormous typology of negative impacts generated and the need to continue analyzing the seasonality and its impacts are emphasized.

The purpose of this paper is to investigate the factors that condition decision making by entrepreneurs in the tourism sector. Specifically, the authors consider whether the decisions related to seasonal closure are conditioned by non-economic factors related to quality of life.

The study uses data from a survey of entrepreneurs in two highly seasonal tourist locations in Spain: one coastal destination and one mountain destination. The information provided by the survey was used to determine the factors that condition the decision to close for part of the year and to analyze the way in which entrepreneurs evaluate the costs and benefits associated with the period of closure.

The results show that entrepreneurs acknowledge the cost of shutting down during the off-peak season. However, although they recognize this cost, other elements are important in their decision making such as the quality of life of the entrepreneur, the presence of a more profitable secondary activity in a different destination and the tenure regime of the business. Entrepreneurs attach great importance to factors that justify the closure of establishments for several months a year. This, in turn, means that public policies designed to reduce the intensity of seasonality lose effectiveness.

This paper sheds light on whether there are underlying non-economic motives that lead to a shutdown during the off-peak season. There are no previous studies that analyze the influence of the decision to close and which consider aspects related to the quality of life of entrepreneurs. Therefore, the study presents the first analysis of entrepreneurs’ assessments of the costs and benefits of a seasonal resting period.

Sports events are tourist attractions and their image components can relate to the destination image concept and structure. This study examined sports event images held by active and passive sports tourists at four marathon races in Germany. Some differences in the perception of event images were found for active and passive sports tourists as well as for different types of destinations. For active sports tourists, emotional, physical and organisational image associations were clustered closer. For passive sports tourists, social and historical image associations were clustered closer. The type of destination elicited different event images among active and passive sports tourists.

Many destination marketers organise events to draw economic benefits over the short and long term. However, this chapter suggests that events can result in more than economic benefits, as they can be used to improve a destination’s branding and image. The authors explain how the organisation and implementation of successful events can enhance the destination’s attributes. They explore the consumer-based brand equity (CBBE) of the event and examine its relationship with other variables, including the destination’s image. Moreover, they maintain that music festivals can enhance the destination’s image and branding, particularly, when the visitors share their positive experiences with others. The authors make reference to two Portuguese events: NOS Primavera Sound event and NOS ALIVE. In conclusion, they imply that such music events are improving the brand equity among customers and adding value to the destination marketing of Portugal.