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This book explores tourism economics, examining markets as imperfect, with asymmetric and incomplete information among agents, bounded rationality, and with strong externalities and public goods. Includes summary questions, exercises, case studies and more.

The book aims at providing an overview of the main economic issues related to tourism activities. While tourism is an important sector, contributing to more than 10% of the European Union's GDP, research and teaching at the university level has only recently grown to a considerable level, and the field still lacks a firm research methodology. This book approaches tourism economics as an applied field of study in which tourism markets are represented as imperfect markets, with asymmetric and incomplete information among agents, bounded rationality, and with a strong presence of externalities...