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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.

The main research questions addressed by this study focus on Subjective Well-Being (SWB) and to what extent the individual's SWB relates to the individual's need for personal growth. Specific interest is devoted to the effects of intentions (to have personal goals) and behavior (to achieve personal goals).

Can SWB and happiness research help to explain the tremendous growth in demanding amateur sport event participation? Most research on SWB and events has, so far been undertaken on cultural events leaving a gap related to sport events, especially obstacle running events. Bestial is an obstacle race event held in Arucas on Canary Islands, Spain. Apart from competitiveness, the race also contains elements of altruism as many competitors do help each other at various obstacles along the route, in groups (mainly) teams. A sample of 700 participants answered questions about behavior, attitudes and SWB.

The results show significant relations between SWB and both intentions and behavior but also that intentions and behavior are not correlated.

The “Bestial” is different from an average running event in some respects. It is a rather local event for Gran Canaria without international participation. For some participants it is more challenging and enduring but for others it is a team sport where one helps other team members to complete the race. In this study, these two types of participation have not been separated. The test of whether the SWB of participants is higher than the SWB of the average citizen is not satisfactory. Data for the average of SWB in Spain had to depend on a study from another year and where standard deviation was not available.

The results of this work are useful for event managers to improve their design and develop the most appropriate marketing messages.

The study aims for an explanation to why demanding physical activities, such as obstacle races, are so popular. In this study of obstacle race participation, hedonia is regarded as less relevant and focus is on eudaimonia and an assumption that participants in an obstacle race have a high SWB since they can feel that they make progress towards goals. One intended contribution of this study is to distinguish between “to have a goal” and “to progress towards a goal”. Thus, the model proposed is based on hypotheses that SWB is influenced by both. Two types of goals are studied: first a mainly individualistic goal of becoming physically fit and second a more altruistic goal of “becoming a better person”.

In the conclusions, the importance for a happy life of simply having goals for personal growth and the value of anticipation for happiness is discussed.

The purpose of this paper is to establish the link between customer information sharing and new service development.

Through a survey of tourism firms, 295 questionnaires were collected in three large tourism locations in Tanzania. Thereafter, the hypotheses were tested by structural equation modeling (SEM) after undertaking both factor analysis and confirmatory factor analysis.

Results indicate that there is a positive association/link between customer information sharing and new service development. The link here expresses the association that exists as customers share information and the extent of use of this information for the firm benefit in facilitating new service development. Specifically, customers post service information and customer interaction behaviors positively support new service development; however, customers’ pre-service information revealed no link.

These results offer practical evidence that post service information and interaction behaviors form the groundwork for development of new services in service-related organizations.

These results evidence that customer post service information and customer interaction behaviors form the groundwork for development new services in tourism. Hence, the study strengthens the value co-creation and innovation views in the service arena by extending knowledge in the use of both the service and the customer environment for service improvement.

The purpose of this article is to examine the role of customer engagement (CE) on electronic word of mouth (eWOM) behavior among vacationers in Tanzania. The article disaggregates CE into cognitive process, affection and behavior and integrates eWOM passing into the eWOM concept.

A sample of 278 vacationers who had used social media before and/or during their trip in Tanzania was used. They were drawn at three major airports in Tanzania when exiting the destination. Structural equation modeling (SEM) was used to test the proposed relationships.

It is revealed that both the affective CE and behavioral CE positively relate to vacationers' eWOM seeking, giving and passing behaviors in tourism-related sites. On the other hand the cognitive CE relates positively only with eWOM passing behaviors.

The varied relationship of the three CE dimensions (cognitive, affective and behavioral) with eWOM behaviors further confirms the multi-dimensionality of CE and the enduring psychological connection of individuals beyond participation in activities.

CE is multifaceted and enduring and thus managers should take a long-term, enduring and multidimensional perspective in facilitating CE development. Different content appeals are needed in facilitating CE in online platforms as CE dimensions relate variedly with eWOM behaviors

The study links CE and eWOM in a novel way by disaggregating CE and integrating the eWOM passing component into the eWOM concept in tourism-related social media sites.

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 focusses on festivals taking place in coastal regions whose central element is seafood. The purpose is to analyse the role of seafood festivals as potential tourist attractions for local development. The decision to focus on coastal areas is based on a perceived knowledge gap regarding the interactions between different sectors of the sea economy.

Qualitative exploratory case studies of seafood festivals in Italy and Sweden have been performed using an analytical model. The participatory observation methodology contributed to a better understanding of the phenomenon.

The analysis shows the close relationship between seafood and tourism, and although it takes variable forms, food is a fundamental lever for maritime and coastal tourism and local development. Findings suggest that local food events can help strengthening gastronomic identities, despite there is a different articulation between tradition and marketing in the two countries.

Since this paper represents an exploratory study of five seafood festivals, research needs to be extended and replicated before any findings can be generalized. However, the model is flexible enough to be tested in different food events.

Food events represent a key instrument for the integration of territorial policies in which tourism and food products might be used as strategic instruments for the development of coastal areas.

This paper is a first attempt to analyse and compare seafood events, contributing to filling the gap in event literature referring to coastal areas. The model introduced can be used to determine the articulation of tradition-marketing in different food events.

This analysis relates to the strategic orientation of public, private and not‐for‐profit festivals and the adoption of stakeholder, financial, marketing and management strategies that enable them to achieve their organisational objectives. The paper aims to address these issues.

In order to test the effectiveness of this new strategic SWOT approach, data from the four‐country study of festivals were employed to investigate how a strategic approach can be adopted by festival managers in the public, private and not‐for‐profit sector. The strategic issues that confront all festivals, including, financial management and related issues of costs, revenue, sponsorship and support are the subject of analysis.

The findings indicate that among festival managers there are some interesting and significant differences between the three ownership types in terms of their strengths, weaknesses, opportunities and threats. Private and non‐profit festivals are comparatively more strategic in responding to financial opportunities, threats and weaknesses and public festivals are more dependent on a single stakeholder and source of revenue. Other significant differences exist in terms of stakeholder management and sponsorship strategies, which can be explained with reference to resource dependency theory.

Strategic SWOT analysis can provide a more rigorous and structured approach to researching the multiple challenges that festival managers face and the strategies they adopt. This paper demonstrates that it has some utility in identifying strategies in response to financial, stakeholder and sponsorship imperatives.

Strategic SWOT analysis provides event and festival managers with a new tool for understanding the range of challenges and opportunities that they can address through adopting a more strategic response.

The field of festival and event management studies is largely devoid of any literature with reference to analysis of strategies that different festivals adopt in response to identified weaknesses, opportunities and threats. This paper provides new insights into the strategic management of public, private and not‐for‐profit festival organisations using an original approach and an extensive four‐country dataset.

The purpose of this paper is to propose and test a model explaining the value of event experiences.

Three versions of the explanatory model are tested by regression analysis of data from a survey of 650 visitors to a sports event.

The three model versions are significant and explain the value of event experiences with satisfactory R2 values (0.29, 0.46 and 0.68) using the concepts “Extent of visit”, “Experience intensity” and “Expenditure”. The measures of event experiences (Use-Value, Direct Use-Value as well as Indirect Use-Value) meet requirements for reliability and validity.

The paper reveals that explanatory models are basic but novel in a sports event context and provide a basis for further research. Furthermore, the definition of Indirect Use-Value has been clarified and adapted for higher relevance to destination managers focusing on event tourism.

The purpose of this study is first to describe and discuss an innovative strategy, pursued by a music festival, to reduce the environmental impact by allowing only vegetarian food in the festival area. A second aim is to discuss the effects of the vegetarian strategy for the festival in terms of branding and communication impacts. A third aim is to assess the effect on the ecological footprint of the festival from the vegetarian food strategy.

Festival visitors’ food consumption was surveyed in 2010 (719 responses) and again in 2012 when only vegetarian food was served on festival premises (663 responses). The EPA event calculator, developed in Australia, was used to calculate the ecological footprint of the festival. The implementation and the impacts were studied from the festival organisers’ perspective through two (one hour long) interviews with one of the festival managers.

For the festival brand, the vegetarian strategy proved to be extremely successful in terms of media attention and an enhanced “green” image of the festival. An analysis of the environmental impact of the vegetarian strategy indicates a remarkable drop of 40 per cent in the size of the ecological footprint.

Based on the results of this study, a vegetarian strategy can be recommended as an innovation for festivals that have core values and a brand image grounded both in sustainability and the reduction of environmental impacts and that are truly concerned about the environment.

Festival Footprint Analysis.

The purpose of this paper is to develop both a systematic framework and priorities for comparative and cross‐cultural festival management studies, based on literature review and results of a four‐country study.

This research is based on four samples of festivals in Sweden, Norway, UK, and Australia that are systematically compared. The survey is designed to profile the festivals in terms of vision/mandate, ownership, age, size, assets, venues used, decision‐making structure, and programs. Costs and revenues are examined in some detail, including trends in each category. Festivals' use of volunteers and sponsors are specifically addressed. Levels of dependence on a number of types of stakeholders and other strategic management issues are also explored. Respondents are also asked to respond to statements regarding challenges and threats to their festival and organization.

The empirical research identifies important similarities and differences that exist within the UK, Sweden, Norway, and Australia, by three ownership types, in how festivals are organized, their operations and strategies, stakeholder influences and dependencies, threats, and strategies.

In the recommended framework are five components: antecedents; planning and management; planned event experiences and meanings; outcomes and the impacted and dynamic patterns; and processes. Specific points of comparison are enumerated within each component, foundation theories and concepts are identified, and some research priorities suggested for each.

The framework developed in this paper can help advance both the process and applications of comparative festival studies.