Principles of value creation in event tourism: Enhancing the competitiveness of regional clusters

Abstract

Using a strategic management perspective, this paper conceptualizes how event tourism creates and appropriates value for locations and regions supporting tourism. A conceptual framework of the six principles of tourism value creation integrates theoretical developments in value creation and retention, service innovation, and networks and regional clusters. This model applies to three levels of players: individual entities, tourism-supporting organizations, and the geographic or regional clusters that promote tourism. This framework demonstrates how event tourism creates value for individual tourists, tourism-related organizations, and regional economies, while also enhancing competitiveness for regions and individual nations. The model offers a new perspective for future research directions and practitioner guidance to create and sustain competitive advantage.