Tourism in a transforming world economy – the impacts of the brave new world

Abstract

Purpose – The purpose of this paper is to critically review the contributions made by the articles in this theme issue with reference to the literature and by examining the linkages between global economic change and the sustainable development efforts of tourism-dependent economies. Design/methodology/approach – The paper reviews the theme issue ' s contribution to four key questions: What are the implications of global economic transformation for tourism? Where will the tourists come from in future? Where will they go? What are the implications for tourism-dependent economies? Findings – The paper concludes that success in tourism can only be determined by measuring the long-term benefits to the investors and other stakeholders. As such, tourism businesses cannot be sustained indefinitely unless the government, the investors and other stakeholders are broadly satisfied with the benefits derived. Research limitations/implications – The paper observes that small, tourism-dependent economies need good governance, shrewd management and, in some cases, the determination to leave behind the failed politics of patronage and corruption that have inflicted so much harm in the past. Originality/value – This article discusses the practical implications and action points arising in response to the question: How might small developing nations achieve long-term sustainable development in a world where the balance of economic output and influence is shifting so rapidly to the emerging industrial powers?