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| Author: | Smeral, E. |
| Title: | Aspects to justify public tourism promotion: an economic perspective |
| Journal: | Tourism review
2006 : VOL. 61:3, p. 6-14 |
| Index terms: | promotion tourism |
| Freeterms: | intervention |
| Language: | eng |
| Abstract: | The article discusses public tourism promotion and what are the justifications for state intervention. State promotion of tourism constitutes an intervention in the market mechanism which needs to be expressly justified in a market economy context. Market failure, transaction costs and the growth-stimulating effect of promoting innovation and knowledge are the fundamental conditions for state intervention, but by themselves they are not adequate to justify intervention. |
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