Did the context of economic crisis affect the image of Portugal as a tourist destination?

Abstract

Purpose – This paper aims to introduce the articles in this issue and explain the pertinence of the strategic question. Design/methodology/approach – A brief context for the strategic question is provided, as well as the issue alignment and a content analysis of the articles selected. Findings – A contextualization for the economic crisis affecting Portugal is presented and its impact on the Tourism Industry discussed. The articles range from a series of research studies on Portuguese Tourism, demonstrating its evolution over the past three years (2011-2013), and various viewpoint/position papers reflecting the perspectives of the main stakeholders of this industry and how they analyze the context of crisis that is affecting the country since 2010. Research limitations/implications – The articles selected for this issue contribute to shed light on an important phase of Portugal’s history, allowing for an understanding of the impacts of the financial crisis on domestic tourism and sectors such as restaurants and hotels, as well as the government’s perspective on the evolution of the industry over past three years. The information presented and analysed reveals some interesting lessons, namely, that a financial crisis may not affect directly the growth and development of the tourism industry. Originality/value – The present theme issue analysis the context of financial crisis that Portugal is facing and brings together, for the first time in a single publication, the views of major stakeholders of the Portuguese Tourism Industry.

Structural breaks in international tourism demand: Are they caused by crises or disasters?

“…With regard to Ireland and the five countries of southern Europe analyzed, the results reveal the existence of structural breaks in four of them e Cyprus, Greece, Ireland and Spain -and the absence of any structural break in Portugal and Italy. Costa, Gomes, and Montenegro (2014) and Cellini and Cuccia (2015) maintain that the tourism industry of Portugal and Italy, respectively, as a whole has been more resilient to economic crisis than the other industries. In the case of Italy, the authors show that the "tourism industry has been able to substitute domestic demand with foreign demand, thus limiting the negative effect of severe domestic crisis".…”

Global Economic Policy Uncertainty and Tourism of Fragile Five Countries: Evidence from Time and Frequency Approaches

“…Over the past decades, the relationship between Economic Policy Uncertainty (EPU) or GEPU has been confirmed to have an impact on tourism activities (e.g., Alegre, Mateo, and Pou 2013; del Mar Alonso-Almeida and Bremser 2013; Perles-Ribes et al 2016; Wu and Wu 2019a). Previous studies (e.g., Andraz and Rodrigues 2016; Birău 2014; Bodosca 2015; Brito 2014; Costa, Gomes, and Montenegro 2014) have used traditional analysis methods based on autoregressive models, and linear or nonlinear cointegration techniques, such as the Johansen, fractional, and threshold cointegration tests, which have been frequently applied in the first strand of the literature to focus on whether the EPU and tourism activities are cyclical or anticyclical associations among the series.…”

Causality between European Economic Policy Uncertainty and Tourism Using Wavelet-Based Approaches

“…Over recent decades, the relationship between global financial crisis or European EPU and tourism activities has been extensively studied around several main strands. Previous studies have used classical analysis methods based on autoregressive models, and linear or nonlinear cointergeneration techniques, such as the Johansen, fractional and threshold cointergeneration tests, which have been frequently applied in the first strand of literature to focus on whether the financial crisis or European EPU and tourism activities are cyclical or anticyclical association among the series (e.g., Andraz and Rodrigues 2016; Birău 2014; Bodosca 2015; Brito 2014; Campos-Soria, Inchausti-Sintes, and Eugenio-Martin 2015; Costa, Gomes, and Montenegro 2014; Hall 2010, 2013; Ikkos 2012; Kapiki 2012; Okumus, Altinay, and Arasli 2005; Papatheodorou, Rosselló, and Xiao 2010; Ritchie, Amaya Molinar, and Frechtling 2010; Sheldon and Dwyer 2010; Smeral 2010; Song and Shanshan 2010; Song et al 2011; Tuluc 2011).…”