Elsevier, 2004, x+445
Recreation, leisure and tourism continue to provide a fascinating field of study for economists. The first edition of this text was written just after a period of intense recession in the UK economy. The second edition was prepared during a period of growth in the economies of the UK, the USA and Europe. But elsewhere, the economies of Japan – the second largest in the world – Brazil, Russia, and what were once referred to as the Asian tiger economies had suffered decline. This third edition has been written in a period where the economic significance of China has continued to grow whilst the rest of the world economy has suffered a mixture of low growth and economic stagnation. Additionally, whilst the broad economic activity of recreation and leisure continues to grow, tourism suffered a severe shock in the wake of 9/11 and the war in Iraq. It is, of course, impossible to predict the economic conditions that will prevail in the year when, or the region where, this text will be read. But it is important to understand what has happened over the course of economic business cycles to prepare for what may happen in the future.
The changes in fortunes of various economies are mapped out through the updated statistics which are a central feature of this third edition. The effects of these changes on the leisure sector are also evident in these statistics and more so in the many new and updated exhibits that illustrate the text. In some cases original exhibits have been retained so as to provide the reader with contrasting evidence and a sense of the dynamics of the economy. In terms of geographical coverage, this text attempts to use examples from around the world to illustrate its points.
The aim of this text remains that of offering those involved in the business of recreation, leisure and tourism an understanding of the practicalities of economics. To support this aim real-world examples continue to be emphasized in this text rather than economic theory for theory’s sake. Thus in contrast to general economics introductory texts, the marginal productivity theory of labour theory is excluded, but pricing of externalities is included on the grounds that the latter is more useful to students of leisure and tourism than the former.
The key themes of the book focus on a series of questions: • How is the provision of leisure and tourism determined? • Could it be provided in a different way? • How are organizations affected by the competitive and macro-economic environments? • What are the economic impacts of leisure and tourism? • What are the environmental impacts of leisure and tourism? • How can economics be used to manage leisure and tourism?
The other key features of this text are: • Visual mapping of the content of each chapter. • Liberal use of press cuttings to illustrate points. • Chapter objectives. • Learning outcomes. • Key points summarized. • Data response questions. • Short answer questions. • Integrated case studies. • Useful web sites.
The third edition also includes illustrations in each chapter, multiple choice questions at the end of each chapter and a set of PowerPoint slides available on the companion web site. It is hoped that this text will create a lasting interest in the economics of leisure and tourism and generate a spirit of critical enquiry into leisure and tourism issues affecting consumers, producers and hosts.
John Tribe is lecturer in Buckinghamshire Chilterns University (BCUC)
Contents
1. Introduction
Part One Organizations and Markets: 2. Recreation, leisure and tourism organizations – 3. The market for recreation, leisure and tourism products
Part Two Further Issues of Demand and Supply
4. Demand: time preference, elasticity and forecasting – 5. Supply and costs
Part Three Markets in Practice
6. Market structure and pricing – 7. Market intervention
Part Four The External Operating Environment
8. The competitive, technological, political and socio-cultural environment – 9. The economic environment
Part Five Investment
10. Investment in the private sector – 11. Investment in the public sector
Part Six Economic Impacts
12. Income, employment and prices – 13. Economic development and regeneration
Part Seven The Global Economy
14. The balance of payments and exchange rates – 15. Globalization
Part Eight Environmental Economics
16. Environmental impacts – 17. Action for sustainability – 18. Critique, alternative perspectives and change
