Networked Economic Value Creation in Event Tourism: An Exploratory Study of Towns and Smaller Cities in the UK
This study explores the role of networks in generating economic value for event tourism in towns and smaller cities in the UK. Although networks have been shown to create a wide range of value, research in this context is limited and little is understood of if or how economic value is generated. The lens used in this study was the value creating side of the business model canvas with local government organizations as the focal node examining the flow of economic value from partners, activities, and resources. There were survey responses from 112 different town and city organizations across the UK. The study found that only the "activities" element of the network contributed significantly to creating economic value in an event tourism context. The network components of "partners" and "resources" were not on their own significant to the creation of economic value. The outcomes of this article suggest that practitioners in towns and cities should strategize their engagement with local networks through a formal event tourism strategy that clearly defines how they operationalize engagement activities within that network in order to facilitate economic value creation. In addition, the article raises questions around what resources are needed at the focal node (local government organizations) in order to maximize the economic value created by the network.
Keywords: BUSINESS MODEL CANVAS; ECONOMIC VALUE CREATION; EVENT TOURISM; NETWORKS
Document Type: Research Article
Publication date: January 28, 2021
This article was made available online on May 27, 2020 as a Fast Track article with title: "NETWORKED ECONOMIC VALUE CREATION IN EVENT TOURISM, AN EXPLORATORY STUDY OF TOWNS AND SMALLER CITIES IN THE UK".
More about this publication?
- Event Management, an International Journal, intends to meet the research and analytic needs of a rapidly growing profession focused on events. This field has developed in size and impact globally to become a major business with numerous dedicated facilities, and a large-scale generator of tourism. The field encompasses meetings, conventions, festivals, expositions, sport and other special events. Event management is also of considerable importance to government agencies and not-for-profit organizations in a pursuit of a variety of goals, including fund-raising, the fostering of causes, and community development.
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