Creating a Value Proposition for Tourists in Times of Heightened Risks

In the context of increased competition and unpredictable external circumstances, understanding the needs and demands of consumers has become a decisive factor in meeting their expectations, which affects the competitiveness of tourism enterprises. Changes in consumer behavior, driven by heightened risks, necessitate rethinking the approaches to shaping the value proposition of tourism products. This article aims to identify the factors that must be considered when forming a value proposition for tourism consumers by determining the impact index of various factors (especially the risks) on tourism product choices. It was suggested and proven that safety is crucial in creating a value proposition in times of heightened risks. This study used Ukraine as an example to develop a conceptual approach to creating a value proposition for tourists during times of increased risks by determining the impact index of various factors (components of the tourism product, components of tourism services, and tourism risks) on the choice of tourism product. Additionally, based on the survey results in Ukraine, the weighting coefficients of each factor were calculated, and the overall impact indices of each group of factors on consumer choice were determined. The study results allowed for conclusions about the new consumer requirements and expectations for developing effective strategies. Compared with other methods, we considered tourism products and services and tourism risks, which allowed us to obtain more accurate valuation results. The approach and the study’s results can be used in other markets with high risks and unpredictability.