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Publication
The Influence of Business Cycles on Corporate Performance: Evidence from Outdoor Tourism
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| 11.18 MB | Adobe PDF |
Advisor(s)
Abstract(s)
Tourism contributes substantially to economies and employment opportunities. In recent years, sustainable tourism has gained prominence, seeking to harmonize economic growth with environmental preservation and social equity. This concept revolves around minimizing tourism’s environmental impact while maximizing local community benefits. Consequently, assessing the economic sustainability of tourism firms becomes imperative for destinations aspiring to cultivate sustainable tourism practices, particularly in nature-based, cultural, and nautical activities. This study delves into the economic sustainability of outdoor tourism firms in Portugal, encompassing nature-based, cultural, and nautical activities, from 2013 to 2022 across diverse business cycles. Utilizing data from the National Tourism Registry and the SABI database, we scrutinize profitability and financial structures. Our findings underscore essential insights. Nature/adventure firms struggle to maintain consistent positive returns on assets, while cultural and nautical firms exhibit variable profitability linked to economic conditions. Nature/adventure firms display relatively strong current liquidity, hinting at potential financial resilience during economic downturns. Cultural firms consistently exhibit higher financial autonomy, indicative of distinct financial management practices. Debt ratios vary significantly among firms, reflecting diverse financing strategies and risk profiles. These findings hold implications for outdoor tourism sector managers and policymakers. Managers must prioritize risk management, financial strategies, and financing approaches to bolster financial resilience and long-term sustainability. Policymakers can offer targeted support and incentives to mitigate the adverse effects of business cycles, safeguarding the sector’s enduring viability.
Description
Part of the book series: Smart Innovation, Systems and Technologies (SIST,volume 383).
Conference name International Conference on Tourism, Technology and Systems, ICOTTS 2023, Bacalar, 2 November 2023 - 4 November 2023.
Conference name International Conference on Tourism, Technology and Systems, ICOTTS 2023, Bacalar, 2 November 2023 - 4 November 2023.
Keywords
Corporate Performance Tourism Business Cycles
Pedagogical Context
Citation
Santos, E., Abreu, A., Pinto, A.S., Carvalho, M., Martins, S. (2024). The Influence of Business Cycles on Corporate Performance: Evidence from Outdoor Tourism. In: Abreu, A., Carvalho, J.V., Liberato, P., Monroy, H.C. (eds) Advances in Tourism, Technology and Systems. ICOTTS 2023. Smart Innovation, Systems and Technologies, vol 383. Springer, Singapore. https://doi.org/10.1007/978-981-99-9765-7_9
Publisher
Springer Nature