Factors Affecting the Performance of Tourism Crowdfunding Projects: An Empirical Study

Li, Huiying; Wang, Zhisheng; Fang, Bin; Yu-shan, Liu

doi:10.1007/978-3-319-28231-2_11

Cited by 4 publications

(2 citation statements)

References 26 publications

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“…Despite the fact that tourism is a strategic industry in many regions and that crowdfunding is experiencing exponential growth, there is hardly any research that jointly addresses these topics. Previous studies are mainly exploratory and describe the tourism crowdfunding projects as exemplary cases (Belleflamme, Lambert, and Schwienbacher 2014; De Boeck 2018), considering that tourist firms are similar to nonprofit and charitable foundations (Li et al 2016). Table 1 summarizes the main empirical studies about crowdfunding in tourism.…”

Section: Developing a Model Of Crowdfunding In Tourismmentioning

confidence: 99%

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

Martín

Hernández

Herrero

2020

Journal of Travel Research

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This article is a first step in examining reward-based crowdfunding in tourism as a socially responsible investment where individuals collaborate with projects that contribute to the development of their communities in economic, environmental, and/or sociocultural terms. Thus, the present study develops a model where social consciousness and perceived risk are postulated to influence individuals’ attitudes toward and intentions to participate in a project of crowdfunding. Based on a simulated crowdfunding project of “enotourism” that contributes to the development of a region in Spain, results reflect that the main drivers of individuals’ overall attitude toward crowdfunding are social consciousness and platform risk. Additionally, individuals’ intentions to fund the tourism project are influenced by their specific attitude toward the project and their overall attitude toward crowdfunding.

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Section: Developing a Model Of Crowdfunding In Tourismmentioning

confidence: 99%

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

Martín

Hernández

Herrero

2020

Journal of Travel Research

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“…At the same time, the acquisition of financial resources within the tourism industry is a challenging task and innovations that respond to tourists' changing needs are urgently needed (Cortese et al ., 2021). At the same time, the risks and uncertainties of tourism and leisure projects make raising funds very difficult (Li et al ., 2016; Ghaderi and Henderson, 2012).…”

Section: Introductionmentioning

confidence: 99%

Searching for the crowd in sustainable tourism and leisure projects

Crescenzo

Simeoni

Ulrich

et al. 2023

EJIM

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PurposeBuilding a cycling route is an interesting example of sustainable, environmentally friendly leisure and tourism project and this also fosters innovation in eco-friendly transport options. Financial resources must be found to achieve these ambitious goals and crowdfunding could be the answer. The study analyses the factors that influence potential backers' decisions to contribute to the fundraising campaign.Design/methodology/approachA Fuzzy-set Qualitative Comparative Analysis (FsQCA) was applied to elaborate a map of factors that could influence the process of the crowd's contribution to a crowdfunding round for supporting the enhancement of a cycling route. The factors taken into account were the motivations to contribute, the crowdfunder's features and the dynamics of the fundraising campaign.FindingsThe results demonstrate the strategic role played by rewards in the design of a crowdfunding round for a sustainable tourism and leisure project. The results also add more insights by considering backers' attitudes to rewards.Research limitations/implicationsUnderstanding the factors that can influence the decision to pledge in the tourism and leisure context has extremely valuable implications for tourism businesses developing the business idea and associated capital raising strategies. The study also has practical implications for all institutions trying to foster innovation in eco-friendly transport, particularly in promoting more cycling and improving the image of cycling in the culture.Originality/valueThe study is a step forward in understanding the factors that lead backers to support a sustainable project in the tourism and leisure context and the related dynamics of the crowdfunding round.

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Investment crowdfunding in the visitor economy: the roles of venture quality, uncertainty, and funding amount

Kim

Hall

2019

Current Issues in Tourism

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Factors Affecting the Performance of Tourism Crowdfunding Projects: An Empirical Study

Cited by 4 publications

References 26 publications

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

Searching for the crowd in sustainable tourism and leisure projects

Investment crowdfunding in the visitor economy: the roles of venture quality, uncertainty, and funding amount

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