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Tourism Expenditure in the Philippines as the Basis for a Tourism Entrepreneurial Business Opportunity Model |
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| รหัสดีโอไอ | |
| Creator | Ramil Alfeche Ravanes |
| Title | Tourism Expenditure in the Philippines as the Basis for a Tourism Entrepreneurial Business Opportunity Model |
| Publisher | University of the Thai Chamber of Commerce |
| Publication Year | 2565 |
| Journal Title | Journal of Family Business and Management Studies |
| Journal Vol. | 14 |
| Journal No. | 1 |
| Page no. | 145-162 |
| Keyword | Tourism, inbound tourism expenditure, domestic tourism expenditure, internal tourism expenditure, tourism entrepreneurial business opportunity model |
| URL Website | www.fbmsjournal.com |
| Website title | fbmsjournal |
| ISSN | 2821-9643(online) |
| Abstract | Tourism is one of the prime contributors to economies although its role is complex and it is composed of several sectors whose success is inter-dependent. The purpose of this study was to investigate and gather data as represented by tourists' consumption of products and services in the year period 2014 2018, as the basis of an entrepreneurial business opportunity model. Secondary data were analyzed using a retrospective study approach, which compared the performance of different sectors of the tourism industry. Based on the results within the five-year period, domestic tourism contributed a higher share of internal tourism expenditure than inbound tourism. The expenditure on products and services by domestic tourists was ranked as follows: 1) miscellaneous, 2) travel agencies and other reservation service, 3) Shopping 4) accommodation services for visitors, 5) food, beverage and restaurant services, 6) entertainment and recreation services, and lastly, 7) transport services as the lowest contributor. Nevertheless, inbound tourism expenditure also contributes significantly to overall tourism expenditure in the Philippines and to the country's economy. Based on the results of the study an entrepreneurial business opportunity model of tourism was constructed as a guideline for existing and aspiring entrepreneurs within the industry. |
