United States

We examine the impact of Twitter sentiments about individual firms on the volatility of US tourism stocks under different regimes of uncertainty. To this end, linear and nonlinear impulse response functions based on local projection methods are estimated. We find a significant positive impact of the volume of tweets on stock volatility in the short run. The increase in tourism stocks’ volatility in response to Twitter messages is higher during COVID19 pandemic i.e., a high uncertainty regime. It suggests that retail investors pay more attention to Twitter in times of heightened risk aversion. A novel analysis of asymmetry finds that positive tweets have a stronger impact on the volatility of stocks than negative tweets. This asymmetric pattern of response supports the idea that positive information on Twitter about particular tourism companies has a clear incentive effect on retail investors, encouraging them to invest in tourism firms and, hence, generating increased stock volatility.

TOUR 2021

Regime specific impact of Twitter sentiments on volatility of tourism firms

volatility

travel and leisure

twitter sentiment

Dear Delegates, 

On behalf of the organizing committee at UCF Rosen College of Hospitality Management and Elsevier, I have the greatest pleasure to welcome you to the **6th World Research Summit for Tourism and Hospitality: Resilience, Adaptability, and Innovation.** 

Though we cannot host you this year owing to Covid-19 at our beautiful resort-like campus in Orlando, Florida, we believe this virtual and live-streamed conference will provide an interactive, dynamic, and shared international platform for global academics and practitioners to discuss how to enhance research applications and knowledge management through resilience, adaptability, digital intelligence, innovation, and smart knowledge in bringing our industry and research back to normal. This summit particularly offers unique opportunities to unfold and embrace various repercussions of COVID-19 pandemic with various stakeholders, including academic researchers, industry professionals, and government officials, through dialogues on how to better utilize research outputs for the benefits of the industry, in a resilient, intelligent and innovative way. 

I hope you will agree that we have put together a wonderful program including keynote speeches, panel discussions, concurrent presentations, poster sessions, and best paper recognition and award ceremony. We hope you will take advantage of these activities and engage yourself with great learning and sharing opportunities during the two days of the Summit. Thank you for joining us and we look forward to our discussions! 

Sincerely, 
Dr. Youcheng Wang 
Dean and Preeminent Chair Professor

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This conference provides an interactive, dynamic, and shared international platform for global academics and practitioners to discuss how to enhance research applications and knowledge management through resilience, adaptability, digital intelligence, innovation, and smart knowledge in bringing our industry and research back to normal. This summit particularly offers unique opportunities to unfold and embrace various repercussions of COVID-19 pandemic with various stakeholders, including academic researchers, industry professionals, and government officials, through dialogues on how to better utilize research outputs for the benefits of the industry, in a resilient, intelligent and innovative way.

technical paper

As travel to participate in sport-events grows, Getz (2008) suggested participants are likely to engage in an event travel career (ETC) and their event and travel preferences change at different career stages (Buning & Gibson, 2016; Mirehie & Gibson, 2020). However, the ETC is not always linear and participants face competing priorities constraining their participation. The purpose of this study was to explore competing priorities as constraints encountered by four marathoner types associated with different ETC stages. Specifically, enduring involvement, running experience, and travel patterns of the four marathoner types were explored. Data were collected via an online survey. A total of N = 823 marathoners pursuing ETCs participated.

Factor analysis identified four dimensions of the enduring involvement scale: hedonic, centrality, social and identity. A competing priorities constraints scale was developed, revealing three dimensions: family responsibilities, finances and training time. MANOVA indicated the involvement level of marathoners progresses from Type 1 (novices) to Type 2 (intermediates) to Type 3 (experts) in hedonic and centrality. The impact of the training time constraint decreased from Type 1 (novices) to Type 2 (intermediates) to Type 3 (experts) marathoners. Type 3 (experts) marathoners showed the highest involvement level and were less confined by all the competing priorities constraints dimensions. Regrading running experience and travel patterns, descriptive statistics showed that running hours and miles in an average week significantly increased from Type 1 (novices) to Types 3 (experts). Specifically, higher involved runners (Type 3) have participated in marathon running and travel to marathon events for longer (years) than lower involved participants; they also participate in more marathons in an average year. The results may guide running club managers to help their members persist in marathon running by overcoming competing priorities constraints. Also, helping event organizers improve event planning to support marathoners in developing their ETCs.

Competing priorities constraints of marathoners in pursuing event travel careers

The primary goal of a Smart Cities Mission is the advancement in economy, improving the quality of life, incorporating smart technology by enabling the local area development and for the benefit of local people. The same applies to any other historical cities which are aiming for a future smart city. In this case Udupi, a temple city and a pilgrim abode for the population of South India has been in the list of Smart City Proposal and prioritised as the part of the Mission. The historical background of Udupi and its temples dates back to the 4th Century C.E. and the city treasures approximately 1600 temples. The place is famous for its enshrining temple of Lord Krishna and located geographically between the coast of Arabian Sea and foothills of Sahyadri Hills (Western Ghats). The study focus on the opportunities in the tourism sector by documenting the various temples and cultural sites with a spatial linkage plan for the unique cultural landscape of Udupi city. This will include the field based study of the existing tourism infrastructure available and evaluate the potential of integrated smart planning strategies to obtain a synergistic outcome. The paper intends to provide a structural basis for recommendations on smart infrastructure management on economic revitalisation, environment protection of the place and tourism experience of cultural landscapes.

Smart planning strategies for tourism infrastructure management in pilgrim cultural landscape: Case of Udupi, Karnataka, India

Taking a gap year and study abroad program has become popular in China. It is a trend that more Chinese backpackers taking long-term travel and sojourn abroad to see the world and pursue a new lifestyle. This study aims to explore the travel experiences of Chinese backpackers and expand the knowledge of backpacking. It intends to answer how is their travel and how they travel. 22 In-depth online interviews with travelers who have traveled for more than 1 year were conducted combined with their journal study. The findings show that Chinese backpackers perceive their travel as a way of life, a journey of connecting and exploring the world and self, training as well as interest. They enjoy the encounter and wander their life on the road with a strong interest in experiencing local life. Their experience can be divided into three themes: meeting people, learning about the culture, and experiencing life. They also presented different meanings of their travel include interaction, living a life they want, and self-development. Most of the backpacking studies still focus on western travelers or western perspectives while outbound Chinese backpackers are still unknown. As a new market force for many tourist destinations, it is necessary to understand Chinese backpackers and cater to their needs and behavior. Furthermore, different from other types of travel, long-term backpacking as a lifestyle is less explored. Further understanding of these evolving patterns of travel is needed. This study not only offers new insight into long-term backpackers and backpacking but also provides predictions for potential backpacker behavior and possible impact on the destination. The implication from their interaction and travel experience can benefit alternative tourism, niche tourism, or other types of tourism.

Long-term Chinese backpacker to the world: Experiences and meanings

Introduction: according to the report released by Ctrip and China Tourism Academy, 70% Chinese tourists bought group travel products in 2018 when travelling to Europe. However, how they evaluate the experiences after arriving home is not so clear in the literature. The research aims to reveal a holistic picture of how Chinese tourists assess their long-haul travel, not only including positive attributes, but more importantly negative attributes.

Methods: the online travel reviews on Ctrip consist of texts, pictures and tags such as departure date, posting date, travel mode (with whom to travel). They were collected over the year 2019 with destinations in Europe. All users’ reviews of each product have been categorized into three levels on the platform: good, intermediate and bad, therefore the positive and negative comments can be aggregated in separate pools. Content analysis, performed with R, sheds light on the factors attributing to both positive and negative reviews.

Results: after text mining, the factors that contribute to positive reviews will be crystalized. They are good configuration of itineraries, good services and explanation from the group’s guide, good value for money, and wonderful landscape. Conversely, defining bad factors which gave rise to negative reviews are the discrepancies between product description and reality in terms of hotel, guide, food, failure in fulfilling visa application and tax refund, forced shopping, experience of risks (e.g. robbery, unsafe driving), extra out-of-pocket items and change in predetermined routes or guide.

Discussion: the online reviews form e-word-of-mouth, which exerts a significant influence on potential customers. The findings of this study are significant in explaining which factors lead to positive and negative reviews of Chinese outbound group tourists. It is beneficial for tour operators in creating satisfying experiences and, to help the literature enrich both the positive and negative experience contributors.

Take-home reviews of Chinese group tourists

This study aimed to identify the constraints affecting the tourism sector of Dingalan, Aurora brought by the Covid-19 pandemic. It also aimed to assess the effectiveness of the intervention programs given by government and non-government institutions.

Study was focused on determining the socio-demographic profile of the respondents. Descriptive design of research was utilized, the data for evaluation were collected through questionnaire and interview.

Study revealed that, most of the respondents were at the age of 33 to 41 years old; majority were females; finished high school; earns 5,000- 8,000PhP; single and belonged to a family with 8-12 members. Souvenir makers/vendors was the top most occupation/source/s of income before and during the pandemic.

All respondents were very much agreed that the imposed curfew hours; lockdown; and age limit of travelers have resulted to the decrease in number of tourists. In relation to the aspect of financial constraints faced by the respondents, 100% were very much agreed that it affected their income negatively.

The Social Amelioration Program by the government aiming to help Filipinos during pandemic were highly regarded by the respondents, they were very much agreed that this program helped them financially. The technical assistance provided by the government was rated by the respondents as slightly agree. The non-government organizations according to the respondents did not provide any financial and technical assistance. Respondents rated the effectiveness of the intervention programs given by the government as moderately effective.

The researcher came up with the recommendations; the Local Government Unit may provide a long-term livelihood technical assistance to be able for respondents be equipped with technical skills to make their economic aspect in life sustainable. A comprehensive destination management plan may also be reviewed and revised to fit in the current situation adapting the new normal of travel and tourism.

Tourism during pandemic: Constraints and intervention in economic enterprise of the tourism sector in Dingaan, Aurora, Philippines

As a value co-creator during service transactions (Lusch & Vargo, 2014), customer is perceived as one of primary sources of innovative ideas helping service organizations to maintain competitive advantages. Since customers are actual users who know the best their own latent demands (Fang et al., 2008), customer creativity should be facilitated to improve customer satisfaction, loyalty and to assure the success of new service development (Sandén et al., 2006). Applying the theory of Cognitive Evaluation, this study proposes that customers’ creativity may be driven by their perception of employees’ customer orientation via their psychological empowerment. In addition, the study predicts that customers may contribute creative ideas during service encounters when perceiving an encouraging atmosphere coming from service employees. The study utilizes psychological climate concept to examine the role of customer-employee exchange and supportive environment in motivating customer creativity. A structural equation modeling analysis was conducted on a sample of 172 restaurant customers to test the study’s hypotheses.

This study contributes to current literature by extending two concepts: psychological empowerment and social psychological climate from organization literature to the customer domain. This study enriches the previous work by confirming the crucial role of social psychological climate in generating customers’ novel ideas, but verifying the insignificant effect of customer psychological empowerment on customer creativity. Furthermore, the study reveals that customers’ perception of service employees in terms of their customer orientation and exchange with customers is important in predicting customers’ psychological empowerment and social climate for innovation. Moreover, the study enriches existing works by validating the Cognitive Evaluation theory in explaining customer intrinsic motivation of creativity within the service area. Finally, the study adds insights to the literature by identifying the moderating effects of customer expertise and proactive personality. The findings are anticipated to provide service practitioners managerial implications in generating service innovation.

Facilitating customer creativity through social psychological climate and customer psychological empowerment

The concept of customer delight (CD) has gained considerable attention from researchers since Oliver, Rust, and Varki (1997) offered the foundational literature over two decades ago. It is crucial to understand the antecedents of CD. The extant CD literature primarily focuses on three main antecedents of customer delight.: [1] customer-related (e.g., joy, fun, hedonic), [2] employee-related (e.g., engagement, expertise, problem resolution), and [3] contextual-related (e.g., non-employee service quality, novelty) (Barnes & Krallman, 2019). The interpersonal role of the employee is particularly vital to lead CD in the hospitality industry because of psychological benefits influencing customers’ attitudes and behaviors (Mattila & Enz, 2002). For example, empathic employees are more likely to better understand customer needs and feelings, and employees’ adaptive behavior can provide better personalized service. Yet, to date, little research has examined employee empathy (EE) and employee’s adaptive behavior (EAB) as antecedents of CD. Thus, the primary goal of this study is to deepen the knowledge of antecedents of CD. The purposes of this study are two-fold: (1) to examine the impact of EE and EAB on CD and (2) to identify how CD influences customer willingness to return (CWR). The data were collected via a web-based survey of hotel guests in the United States. The proposed CD model was tested using standard partial least squares structural equation modeling (PLS-SEM). The findings of this study indicate that there is a significant relationship between EE and CD and between EAB and CD. Result. Findings also show that CD influences CWR. As one of few empirical studies investigating the relationships among EE, EAB, CD, and CWR, findings from our research can provide a better understanding of CD within the hospitality literature. The results can also provide insights for practitioners to implement the concept of CD into their customer engagement strategies.

Exploring antecedents of customer delight in a hospitality setting: Employee empathy and adaptive behavior

This study investigated the Asian countries’ tourism video advertisements uploaded in YouTube since the onset of the Covid-19 pandemic. The pandemic is predicted to change travel preferences, focusing more on safety and luxury, and less on mass tourism. The characteristics identified in this shift of preference has been outlined in the Hierarchy of Luxury Travel Needs framework (Amadeus, 2016). Using this framework, content analysis was conducted to examine 122 videos uploaded from January to December 2020. Nvivo 12 was used to analyze the data through thematic coding. To ensure validity, seven rounds of analysis was conducted independently by each researcher and was triangulated by coding comparison. The findings revealed that no country was able to feature all the components of luxury travel. Moreover, exclusivity is the most featured luxury travel component while product and service quality are the least featured. The study will be able to provide insight to the current priorities of tourism advertisements on a macro level and contributes to the limited literature on online tourism marketing amidst the pandemic. Thus, this study can aid the tourists in future travel decisions, while the national tourism administrators can use the data to evaluate their current promotional videos, and to plan and develop future advertisements.

A content analysis of Asian countries' tourism advertisements in YouTube: A luxury travel perspective

The study proposes a new research agenda for the management of tourist destinations in response to significant changes caused by over-tourism, the COVID-19 pandemic, and other negative impacts of tourism development. Although the literature traditionally describes the main purpose of destination marketing and management as increasing visitation and providing economic benefits to tourist destinations related to income, tax revenues, employment opportunities, investments, etc. At the same time, the social, health, and psychological impacts of tourism on local communities did not receive enough empirical attention in the previous literature. This study aims at exploring the effects of tourism development on the quality of life, health, and well-being of residents' communities in different tourist destinations. The applied mixed-method methodology includes cross-sectional, time-series, and panel data analysis. The results demonstrate that the level of tourism provides different positive and negative effects on residents’ health and well-being in the long and in the short term. The study contributes to knowledge and practice by shifting the emphasis of destination management from increasing tourists’ visitation to improving residents’ health and well-being, demonstrating the advantage of long-term tourism impacts over short-term effects, and providing recommendations for destination marketing and management organizations.

Health and well-being impacts of tourism

The global spread of the COVID-19 pandemic during 2020 and 2021 has led to a global re-assessment of most of the key paradigms which governed the growth of tourism and global tourism operations applying to all industry sectors between 1970-2019.

Between 1970 when the 747 jumbo jet came into service until early 2020 when the pandemic was widely recognized, tourism experienced significant growth as an industry. This growth came to a shuddering halt from March 2020 when government regulations in most global jurisdictions set severe limits to tourism movement and tourism, hospitality and event activity. Border closures, lockouts, social distancing regulations and quarantine restrictions were among the policy tools implemented by governments to restrict tourism both international and domestic tourism.

Some of the key Pre-COVID paradigms which have been overturned as a result of the COVID-19 pandemic include:

1. There is an inalienable human right to travel with minimal restrictions.

2. Market forces and market perceptions determine travel and destination demand.

3. Tourism business could successfully operate on the basis of high volume and low yield.

4. Tourism is regarded by government as an essential industry.

5. Governments are committed to the facilitation and support of tourism

6. Tourism was in a path of continuous growth and increasing democratization and reduced costs for consumers and suppliers.

The impact of COVID-19 has encompassed every sector of the global tourism industry with airlines, cruising, land transport, events, accommodation, travel retailers and destination management and marketing all severely affected. It has emerged as the greatest threat to the overall viability of the global tourism industry since World War II and the industry's greatest crisis.

For tourism to recover in the post COVD-19 period a new set of paradigms need to be developed. This paper will address them.

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Regime specific impact of Twitter sentiments on volatility of tourism firms

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