Tourism, smart specialisation, growth, and resilience

This work analyses the implications of tourism dynamics and smart specialisation strategies on growth and socioeconomic resilience of European regions where tourism is a regional priority. By using a panel data model for 2006-2017, phases of growth, recession, and recovery are scrutinised. A convergence process is identified, with higher growth rates for less-developed regions; however, the most developed regions are more resilient. Tourism demand is positively correlated with growth and resilience but a high share of tourism within regional employment has negative impacts on both. Specialisation patterns combining tourism with agriculture have positive effects in both cases. Diversification strategies including unrelated sectors contribute to increased resilience in these regions, and a prioritisation of construction reduces regional resilience.