ABSTRACT This research aims to identify the relationship between perceived risks and the adoption of virtual reality technology in the tourism sector for two study groups: tourists and tourism agencies. In this way, we investigate the main differences between clients and tourism agencies in adopting this type of technology in two countries (Spain and Colombia). The financial, social, time, psychological, and performance risks that influence the consumption and the sale of this type of service have been included among the perceived risks. To achieve this objective, a multi-group model is used that considers the theoretical model of the present investigation. A total of 83 tourism agencies and 150 consumers of tourist services between Spain and Colombia were consulted. For the collection of information, an external consulting firm was hired and used a questionnaire to collect data. The methodological contribution is related to the study of variables typical of consumer preferences and variables that affect the decision-making of technological adoption of tourist agencies. The results show that tourists perceive new technologies with a high social risk, while tourism agencies are more concerned with psychological, financial, time, and performance risks.
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