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Tourism 2025 – Growing Value Together/Whakatipu Uara Ngatahi is a framework to unite New Zealand's large and diverse tourism industry and ignite strong, aspirational economic growth. Its goal is to see the tourism industry contribute $41 billion a year to the New Zealand economy by 2025, up from $24 billion now. It provides vital context for some collective actions by big or small industry clusters and for thousands of actions individual businesses will take each year. The paper aims to discuss these issues.

A wide range of tourism industry stakeholders were consulted over an 18‐month period to ensure the project was being developed on a solid, evidence‐based foundation. There was strong stakeholder support for a framework which the private sector takes ownership of and responsibility for, but which also recognises that public sector support is vital. The project team developed a “straw‐man” growth framework model which resulted in carrying out detailed investigations and consultation to test and, where necessary, adjust that model into its final form.

There were four major forces shaping the global tourism market. There was one positive force for New Zealand countered by three tough challenges. The strawman growth framework comprised five separate yet inter‐connected “cycle of growth” themes. These themes are relatively consistent with global national tourism plans that were studied. Used intelligently and in harmony, with the industry fully understanding the inter‐relationships and inter‐dependencies within the “cycle of growth”, the key themes enable the tourism industry to successfully come to grips with the challenges and opportunities ahead.

Tourism 2025 is aimed at aligning the industry on a pathway towards aspirational growth.

This paper explores the challenges faced by the micro, small and medium enterprises (MSMEs) in the tourism industry in building capabilities toward being resilient in the wake of crises through a stakeholder perspective.

This study identifies the barriers to building resilience through detailed literature review and expert interviews. A total of 13 barriers were identified and were classified into into three main categories, namely economic barriers, organizational barriers, and stakeholder barriers. Subsequently, primary data were collected to emperically validate the nature and strength of interactions between these barriers and to quantitatively identify their impact.

The study identifies that in long run, stakeholder barriers are the most significant in building capabilities toward being resilient in the wake of crisis. However, for initial recovery, economic barriers need to be focused. Subsequently, organizational capabilities needs to be developed through stakeholder support.

The study provides actionable insights to help MSMEs in the tourism industry to recover economically and to help them build lasting capabilities through organizational capability development and stakeholder support.

This study is novel on two aspects. First, the study investigates role of MSMEs in the tourism industry and how MSMEs are pivotal in helping the industry recover from a crisis by being resilient. Second, the role of stakeholders in the MSMEs sector in tourism is underexplored area and this study adds value to this nascent literature.

This study aims to examine the relationship between board capital and firm performance in the Chinese tourism industry.

The study’s sample includes firms from the Chinese hotel, air transportation/travel and catering industries. This study explores the governance environment in tourism industries. This study estimates three dimensions of the board, including education, expertise and directors interlock. These dimensions are further grouped as human capital (i.e. education and expertise), social capital (interlocks) and board capital (sum of social and human capital). Ordinary least square regressions with multiple robustness tests are used to investigate the effect of board capital on firm value in Chinese listed tourism firms during 2005–2018.

This study finds that board capital positively impacts firm performance in its dimensions of human and social capital. This study also highlights the two important ownership contexts, namely, institutional investors and state-ownership, that shape the board capital-firm performance association in the Chinese tourism industry.

The findings suggest that board capital plays a significant role in corporate decisions. The results illustrate that higher board capital improves both governance mechanisms and resource provision roles of the board, resulting in higher firm value. The results further offer implications for managers and shareholders of tourism firms when electing directors as shareholders’ representatives.

The study has two important contributions. First, it extends the prior literature of firm value by considering the board’s human and social dimensions in the tourism sector. Second, contrary to prior research on board, this study takes three facets of board capital, education, expertise and interlocks that improve governance mechanisms and bring new resources in the shape of skills, knowledge and expertise.

This study examines the economic crisis caused by coronavirus on the global tourism industry in general and the Indian tourism industry in particular. This paper highlights the strategies that tourism companies should implement in times of crisis to reduce the negative impact. It also discovers the business opportunities which can be offered amid this deadly pandemic.

The study is based on a systematic literature review. The literature has been explored by utilizing the keywords “economic crises,” “coronavirus,” “Indian tourism industry,” “Global tourism industry” on the three most popular databases namely Scopus, Web of Science and Google Scholar. In this study, statistics, current events, published research papers and a synthesis of news transmitted by various media sources were used to assess the economic crisis caused by coronavirus.

The obtained findings demonstrate that coronavirus severely affected the economy of the world and India. The pandemic has hit the economies that are dependent on tourism the worst. These countries are expected to bear the brunt of the crisis's consequences for longer than other economies. This coronavirus outbreak indicates that the tourism industry was unprepared to deal with such a pandemic, which affected and crippled the economy.

This study demonstrates economic crisis, management strategies and business opportunities during any crisis, chaos and disaster, in addition to its academic contribution to the existing body of the literature. Policymakers and industry practitioners might be offered suggestions based on the findings of current study to design futuristic strategies for better economic crisis management. The data given in this study is timely because taking an exact idea of tourism losses through the data is difficult, as the data changes as quickly as the virus spreads.

This paper forms its originality by concentrating on the aspects of economic crisis, strategies to mitigate the negative impact of coronavirus on the tourism economy and detailing the business opportunities which these crises can offer. This paper provides an evaluation of the current status of the tourism economy of the world and India as well.

The study aims to investigate the relationship between aggregate and individual dimensions of sustainability and financial and stock market performances of the firms in the travel and tourism industry (TTI) across different geographies.

The sample under study consists of 146 firms belonging to TTI that have consistently obtained environmental, social and governance (ESG) rating over the period 2011–2017 as a part of Thomson Reuters Asset 4 ESG database. An empirical multivariate panel data model is developed to analyse the impact of sustainability (ESG) on firm profitability and market value within three tourism-related industries (transportation, hotel and leisure).

The study extends the existing literature by investigating the impact of each of the vital dimensions of sustainability performance – ESG – and examines how each dimension would affect financial performance and market value among firms within three tourism-related industries (transportation, hotel and leisure). Among the three tourism industries, hotel industry is observed to have the highest ESG compliance, followed by the transportation industry. Based on the agency and stakeholder theory, the authors hypothesized all ESG components to have significant positive effect on the financial and stock market performance; however, the results reveal that each dimension has different impact on financial performance and market value of firms in the tourism industry.

The study could help firms in the travel and tourism industries to understand which of the dimension of ESG activities is significantly important for their financial and stock market performance.

The unique contribution of this study is that it considers wider definition of the term “Sustainability” and examines the relationship between financial and stock market performances of the firms and each component of ESG. This is one of the few studies at the global level that provides much needed evidence in the area of sustainability performance by the travel and tourism firms.

This paper aims to address the immediate effects of the COVID-19 crisis in the Portuguese tourism and hospitality industry by examining whether some specific characteristics make people more vulnerable or more immune to unemployment.

Using an extensive micro-level data set of personal and job-related attributes containing all unemployed individuals in the Portuguese tourism and hospitality industry, a logit model with 56,142 observations is estimated to assess how each characteristic contributed to the unemployment odds during the COVID-19 crisis (until the end-July 2020), relatively to the pre-COVID period.

The most vulnerable workers to COVID-19 unemployment seem to be older, less educated, less qualified, women and residents in regions with a higher concentration of people and tourism activity. Moreover, the COVID-19 crisis is generating a new type of unemployment by also affecting those who were never unemployed before, with more stable jobs and more motivated at work, while reducing voluntary disruptions.

Public effort should be made not only to increase workforce education but especially to reinforce job-specific skills. The COVID-19 crisis has broken traditional protective measures against unemployment and separated workers from their desired occupations, which justifies new and exceptional job preservation measures. Policy recommendations are given aiming at strengthening worker resilience and industry competitiveness in the most affected sub-sectors and regions.

This study extends the current understanding of worker vulnerability to economic downturns. Herein, this paper used a three-level approach (combining socio-demographic, work-related and regional factors), capturing the immediate effects of the COVID-19 crisis and focussing on the tourism and hospitality industry (the hardest-hit sector worldwide).

This paper aims to address the key sustainability issues in Canada's tourism and hospitality industry.

The foundation for this paper was laid during a well attended Worldwide Hospitality and Tourism Themes (WHATT) roundtable discussion between industry leaders and hospitality educators in May 2012.

The paper provides valuable information on the concept of sustainable development and outlines key sustainability issues and trends in the Canadian tourism and hospitality industry. The umbrella organization for the hotel industry in Canada, the Hotel Association of Canada (HAC), collaborates with key stakeholders to find innovative and sustainable solutions to challenges the industry is facing. Top future trends are captured in the conclusion.

As the team of authors includes the president of the Hotel Association of Canada and a partner/Canada's national leader of the sustainability practice in the world's largest consulting firm, this paper will be of immense value to students, educators, researchers and industry leaders. Supports two innovative economic options to boost Canada's tourism marketing – reinvesting a portion of international visitor's GST and charging an international visitor arrival levy.

The paper draws on sustainability theories and best practices in Canada to explain the role of innovation in facing challenges in the tourism and hospitality industry in Canada. As the team of authors represents both the industry and academia, this paper will be of immense value to students, educators, and researchers, as well as practitioners.

The purpose of this paper is twofold: first, to examine the extent to which hotel investments create jobs and, second, to compare whether investment in a particular hotel segment generates more or less jobs in the overall economy and in the tourism, leisure and hospitality industries.

The panel autoregressive distributed lag regression model was used to examine the effect of total hotel investments and hotel investments in economy-scale, midscale, luxury-scale and independent hotels on total employment and employment in the tourism, leisure and hospitality industries in the USA.

Hotel investments increase employment in both the overall economy and the tourism, leisure and hospitality industries. Midscale hotels make the highest contribution to employment in the overall economy. Economy-scale hotels make the highest contribution to employment in the overall tourism, leisure and hospitality industries.

The results support the postulations of growth pole theory. As hotel investment increases, not only does the hotel industry see gains in employment but also does related economic sectors see an increase. Midscale hotels have the greatest positive impact on local labor markets, which is consistent with the assertions of middle-out economics.

Community leaders should encourage the type of investment that benefits the broader area as much as possible by incentivizing the type of growth that is related to employment growth.

This study investigates the relations between hotel investment and employment from a theoretical and empirical perspective by providing objective claims inferred from statistical inferences.

The purpose of this paper is to investigate the role of intersectoriality within the cultural, creative and tourism industries in Italian local development.

The research design builds on the literature on culture-led development and adapts the established body of empirical research on industrial districts to tourism and cultural development. The quantitative analysis of intersectoral specialization and the clustering of cultural, creative and tourism industries in Italian local labour systems (LLSs) combines specialization indexes with principal component analysis and cluster analysis.

About 50 per cent of Italian LLSs specialize in the economy of culture and tourism, mostly in material culture, although tourism has the highest level of specialization. There are three main patterns of agglomeration and clustering. The largest cluster is that of the cultural heritage and content and information industries, which coincides with the systems of medium-sized and large cities, followed by systems of tourism monoculture. The smallest is made up of material culture, typically made-in-Italy sectors. The tourism and material culture industries are monocultures – where tourism agglomerates, but material culture does not.

The analytical approach is quantitative and based on Istat’s Industry and Trade (2012) data set. Further studies are needed on the interaction between agglomerated specialized industries.

This paper contributes to the theoretical and political debate on the value generation and innovation potential of culture and creativity, and bridges the knowledge domains of local development and managerial studies. Novel statistical evidence on intersectoral specialization and the clustering of the cultural, creative and tourism sectors in Italy at the inter-municipal level is provided. This study helps to identify an Italian model of the economy of culture and tourism.

This paper aims to explore the challenges encountered by the hospitality and tourism industry in managing the labour challenges it faces presently and will face in the coming years. Although there are several issues at play, there are actions that industry members can take both internally and by advocating externally for change.

This paper draws on insights from three industry members and two academics to explore key areas in which action can be taken to address labour demand challenges in the hospitality and tourism workforce. The identified action items combine these various types of expertise to provide a holistic frame of action.

The Canadian hospitality and tourism industry is facing an ever-increasing labour demand shortage. Industry members can confront this on multiple fronts, from front-line employee satisfaction to more regional and national advocacy efforts. A combination of activities is recommended.

Hospitality and tourism industry members can take numerous actions from this analysis, including developing stronger organization cultures that align with employee needs, exerting effort in balancing wage gap issues and maintaining pressure on government partners to provide support for establishing hospitality and tourism, so that it is viewed as a valuable career path.

This paper increases knowledge in the hospitality and tourism field by combining the current human resource management theory with observations from industry experts on the needs that exist now and are predicted in the coming years.