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Economic Valuation of Tourism Destination Image

Author

Listed:
  • María M. Carballo
  • Jorge E. Araña
  • Carmelo J. León
  • Sergio Moreno-Gil

Abstract

This paper develops a novel methodology for estimating the value of destination image, which incorporates two principal advantages over the methods used to date. First, it allows tourism destination image to be assessed in economic terms, so a formal cost–benefit analysis can be executed to ascertain whether or not a specific marketing action should be implemented. Second, it enables a disentangling of the economic assessment of tourist destination image in terms of destination attributes. This can be used to design marketing actions aimed at optimizing marketing efforts to enhance a destination's image.

Suggested Citation

  • María M. Carballo & Jorge E. Araña & Carmelo J. León & Sergio Moreno-Gil, 2015. "Economic Valuation of Tourism Destination Image," Tourism Economics, , vol. 21(4), pages 741-759, August.
    • Handle: RePEc:sae:toueco:v:21:y:2015:i:4:p:741-759
    DOI: 10.5367/te.2014.0381
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    References listed on IDEAS

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    1. W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    2. Qu, Hailin & Kim, Lisa Hyunjung & Im, Holly Hyunjung, 2011. "A model of destination branding: Integrating the concepts of the branding and destination image," Tourism Management, Elsevier, vol. 32(3), pages 465-476.
    3. Edward R. Morey & Kathleen Greer Rossmann & Lauraine G. Chestnut, 2002. "Valuing Reduced Acid Deposition Injuries to Cultural Resources: Marble Monuments in Washington, DC," Chapters, in: Ståle Navrud & Richard C. Ready (ed.), Valuing Cultural Heritage, chapter 11, Edward Elgar Publishing.
    4. Alexandros Apostolakis & Shabbar Jaffry, 2006. "Correcting for Sample Selection Bias in Stated Preference Tourist Surveys," Tourism Economics, , vol. 12(3), pages 451-468, September.
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    Citations

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    Cited by:

    1. Ksenija Leković & Slavica Tomić & Dražen Marić & Nikola V. Ćurčić, 2020. "Cognitive Component of the Image of a Rural Tourism Destination as a Sustainable Development Potential," Sustainability, MDPI, vol. 12(22), pages 1-12, November.
    2. Gavurova, Beata & Skare, Marinko & Belas, Jaroslav & Rigelsky, Martin & Ivankova, Viera, 2023. "The relationship between destination image and destination safety during technological and social changes COVID-19 pandemic," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
    3. Constantin Anghelache & Madalina-Gabriela Anghel & Stefan Virgil Iacob & Dana Luiza Grigorescu, 2020. "Statistical Analysis Of The Tourist Activity That Is In Free Fall," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 20-29, October.
    4. Ali Abbasi & Farzin Ghanooni & Livia Celardo, 2023. "Tourist destination loyalty: a case study of Rome," RIEDS - Rivista Italiana di Economia, Demografia e Statistica - The Italian Journal of Economic, Demographic and Statistical Studies, SIEDS Societa' Italiana di Economia Demografia e Statistica, vol. 77(4), pages 22-34, October-D.
    5. Constantin Anghelache & Madalina Gabriela Anghel & Stefan Virgil Iacob, 2022. "The Social - Economic State Of Romania Under The Impact Of Crisis," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 29-39, August.
    6. Meqbel M. Aliedan & Abu Elnasr E. Sobaih & Ibrahim A. Elshaer, 2021. "Influence of Cities-Based Entertainment on Tourist Satisfaction: Mediating Roles of Destination Image and Experience Quality," Sustainability, MDPI, vol. 13(19), pages 1-14, October.
    7. Pedro Cuesta-Valiño & Antoni Serra-Cantallops & José Ramón-Cardona & Rafael Ravina-Ripoll, 2021. "China Viewed by the West before COVID-19: Spaniards’ Perceptions and Knowledge of China as a Tourist Destination," Land, MDPI, vol. 10(9), pages 1-20, September.

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