Competition amongst visitor attractions

Stephen Wanhill

Resumo


This article discusses the nature of competition in the attraction sector along the lines of the traditional structure, conduct and performance paradigm of market economics. At the same time attention is drawn to more recent ideas concerning 'contestable' markets and the relevance of game theory when conditions of market rivalry exist. To clarify issues the nature of attractions is outlined, before examining price and non-price competitive behaviour. The dominant theme is the pattern of ownership, which allows the co-existence of several market structures at any one time, from monopoly to monopolistic competition, and dictates conduct and performance. The term 'Aristopoly' is used to embrace this phenomenon. The concluding discussion draws these aspects together to reflect on the character of successful attractions.

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