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Intellectual capital (IC) strategically matters to hospitality and tourism businesses in which intangible, knowledge-based resources are the key to their competitiveness, resilience, and sustainable value creation. Addressing a knowledge gap in the subject, this study conducted a bibliometric analysis of the IC research in hospitality and tourism business settings to provide a general overview of the developmental trends of studies in this area. The results show that IC research in hospitality and tourism settings gained momentum over the past decade and is now expanding. Scholarly interest in this research is emerging globally, with the United States leading the way. Social and human capital factors are the most investigated IC forms as core, interconnected sources of innovation. Emerging topics, including sustainability, green IC, and strategic approach, indicate an interdisciplinary direction of IC research in hospitality and tourism focused on strategic management of knowledge resources. Implications and future research avenues are proposed. • Representing a vibrant research field, intellectual capital strategically matters to hospitality and tourism businesses. • Bibliographic coupling mapped intellectual connections, and co-authorship analysis identified scholarly collaborations. • Prominent themes were mapped using a co-citation analysis, supplemented with a keyword co-occurrence analysis. • Intellectual capital research in hospitality and tourism is emerging globally, with a focus on social and human capital. • We identified emerging topics and predominant theoretical frameworks across studies, suggesting future research avenues. [ABSTRACT FROM AUTHOR]

This paper examines variations in wages for tourism and tourism-associated industries in the USA for the period 2004-2009. It critically assesses the extent to which tourism and tourism-associated activities conform to their low-wage stereotype and finds this to be true in general, but not universally. It then considers the possibility that wages in US tourism and tourism-associated industries can be explained by observable characteristics of these industries. Recent research suggests that the use of wage data at the level of highly detailed occupations is an effective alternative to other ways of capturing underlying skill differences. Accordingly, data from the US Occupational Employment Statistics (OES) were used to provide this detail. The results strongly support the importance of difference in wages between occupations in understanding differences between industries. They also support the importance of a number of industry characteristics, including profitability, multi-factor productivity and demand growth. The paper also considers the relevance of an industry wage premium or discount for tourism and tourism-associated activities in the USA over the same period. It estimates an industry wage model separately for five individual occupations across all industries that employ for the occupation concerned. The analysis shows that workers in the two more highly paid occupations exhibit evidence of a tourism and tourism-associated discount but that workers in the three more lowly paid occupations exhibit a tourism and tourism-associated wage premium. [ABSTRACT FROM AUTHOR]

Historians have labelled the development of modern mass-consumer societies in Europe as a process of ‘Americanisation’. Until today, the consumption of immaterial goods like vacations has been rather neglected by historiography. The purpose of this article is to verify the hypothesis that the United States served as a role model for European vacationing patterns and the evolution of the European travel industry. The paper demonstrates that a simple model of ‘Americanisation’ does not adequately represent the process of partial imitation, adaptation and alteration of American travel patterns through European societies and, more particular, through European holiday providers. National traditions and cultural differences of vacationing continue to exist until today. [ABSTRACT FROM PUBLISHER]

Abstract: To date, literature on foreign exchange risk has paid a particular attention to multinationals in trade-related industries. The tourism sector is also sensitive to the exchange rates between travelers’ home countries and their destinations. Suspecting that the exposure of domestic tourism-related firms to foreign exchange risk results from price elasticity of demand, the current study tested the cash flow exposure of sample firms, accounting for nonlinearity, asymmetry, and lagged effects. As a result, a significant percentage (78%) of domestic tourism-related firms was found to have significant foreign exchange exposure. This study also found that exchange rate exposure for tourism-related firms was nonlinear, asymmetric, and lagged. The evidence implied that several tourism-related firms are passive regarding their exposure and may face financial burdens caused by demand fluctuations. Implications and suggestions are presented along with the findings of the study. [Copyright &y& Elsevier]

An empirical exploration of disaster planning and preparedness for the industry finds a reasonably high level of planning, with noteworthy weaknesses. Based on 155 telephone interviews with tourism leaders from three industry segments (namely, lodging, attractions, and promotions), the majority of organizations surveyed had a written crisis preparedness plan which was updated regularly—often annually. Most organizations had direct communication arrangements with local emergency preparedness agencies, but connections with national agencies, notably the Federal Emergency Management Agency, were less frequent. Given that many respondents were in destinations with many visitors (in this case, Florida), perhaps most troublesome finding was the relatively low percentage of written plans addressing procedures for visitors—mentioned by barely half of the respondents—and the relatively low participation in central relocation systems—again, just half of respondents. Overall, resource allocation had a greater impact on whether an organization would engage in crisis planning and communication procedures than did crisis experience. [ABSTRACT FROM PUBLISHER]

Tourism plays a significant role in the economies and residents' lives in the American-affiliated Pacific Islands (AAPI) region. Considering the region's location, tourism resources, limited access by air and the cruise industry's need for new product development for rising demand, cruise business may be a viable option for the region. This study aims to evaluate the potential of the cruise business in the AAPI by consolidating information about the AAPI and profiles of cruise companies and their products, which is essential knowledge for new product development by cruise companies, for tourism planning by island governments and for entrepreneurs' investment decisions. Findings suggest that cruise tourism could bring about positive impacts on the AAPI if this region were to enhance tourism management systems, infrastructure and collaboration among islands, and to manage tourism resources so that the cruise business benefits were permeated throughout the host communities. [ABSTRACT FROM AUTHOR]