“…Meanwhile, the stimulus-overload theory (SOT) asserts that crowding may cause an unfavourable assessment of an area’s population density, and hence, lead to high anxiety among site visitors (Milgram, 1970). Perceived crowding has been widely proven to produce direct influences, either positive or negative, on tourists’ perceived value at the destination (Hou & Zhang, 2021; Yin, Ji, Huang, & Ni, 2023), the level of their satisfaction (Ruiz et al, 2021; Zehrer & Raich, 2016), the intention to revisit (Kim & Yoon, 2020; Yin, Cheng, Bi, & Ni, 2020) or the intention to recommend the destination (Papadopoulou et al, 2023; Nian, Chen, Zhang, Li, & Ren, 2023). However, to our best knowledge, very few papers have examined tourist psychological elements such as perceived crowding (Albayrak et al, 2021; Papadopoulou et al, 2023) as the moderator of the interrelationship among perceived value, tourist satisfaction and destination loyalty.…”