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Monetary and non-monetary value creation in cruise port destinations: an empirical assessment

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  • Lara Penco
  • Assunta Di Vaio

Abstract

The cruise tourism industry has been the fastest growing segment of the global travel sector over the last decades. Due to its dramatic expansion, this sector has recently attracted an increasing interest from researchers and practitioners.Despite this attention, however, some literature gaps still persist. Indeed, extant contributions facing the cruise tourism (positive) impact on the local community neglect to investigate the potential overall value disruption caused by cruise traffic diversion towards other destinations.Therefore, this paper measures the overall value potentially generated for the territory by a cruise company, which is not a shareholder of the facility in a port of call. The monetary and non-monetary value is estimated using empirical data collected from 208 cruise passengers and 64 crewmembers. The results show the total amount of passenger, crew and cruise-line expenditures (i.e., monetary impact), as well as the non-monetary effect triggered by word-of-mouth behaviour. The main findings yield several implications for academics, managers and policymakers.

Suggested Citation

  • Lara Penco & Assunta Di Vaio, 2014. "Monetary and non-monetary value creation in cruise port destinations: an empirical assessment," Maritime Policy & Management, Taylor & Francis Journals, vol. 41(5), pages 501-513, September.
    • Handle: RePEc:taf:marpmg:v:41:y:2014:i:5:p:501-513
    DOI: 10.1080/03088839.2014.930934
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    1. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
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    Cited by:

    1. Esther Vayá & José Ramón García & Joaquim Murillo & Javier Romaní & Jordi Suriñach, 2016. "“Economic Impact of Cruise Activity: The Port of Barcelona”," AQR Working Papers 201609, University of Barcelona, Regional Quantitative Analysis Group, revised Nov 2016.
    2. Lara Penco & Giorgia Profumo & Roberta Scarsi, 2017. "Stakeholder Orientation in Cruise Lines’ Mission Statements," Sustainability, MDPI, vol. 9(11), pages 1-24, November.
    3. Wang, Shuaian & Zhen, Lu & Zhuge, Dan, 2018. "Dynamic programming algorithms for selection of waste disposal ports in cruise shipping," Transportation Research Part B: Methodological, Elsevier, vol. 108(C), pages 235-248.
    4. Georgia Papadopoulou, 2020. "An Overview of the Cruise Industry in Greece from 2010-2019," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 70(1-2), pages 39-57, January-J.
    5. Lara Penco & Giorgia Profumo, 2016. "Merger&Acquisitions (M&As) e alliances delle imprese crocieristiche: un?analisi delle determinanti strategiche," ECONOMIA E DIRITTO DEL TERZIARIO, FrancoAngeli Editore, vol. 2016(2), pages 237-264.
    6. Yichao Gou & Chengjin Wang, 2022. "Identification and Differentiation of the Hierarchical Structure of the Caribbean Cruise Shipping Network Based on Route Organization," Sustainability, MDPI, vol. 14(15), pages 1-15, August.
    7. Sandven, Amanda Hauso & Jørgensen, Matias Thuen & Wassler, Philipp, 2024. "Residents' coping with cruise tourism," Annals of Tourism Research, Elsevier, vol. 105(C).

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