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Anne-Mette Hjalager & Einar Lier Madsen

In: The SAGE Handbook of Tourism Management: Theories, Concepts and Disciplinary Approaches to Tourism

Chapter 22: Business Model Innovation in Tourism: Opportunities and Challenges

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Business Model Innovation in Tourism: Opportunities and Challenges
Business Model Innovation In Tourism: Opportunities and Challenges
Anne-Mette Hjalager Einar Lier Madsen
Innovation and Innovation Management are Important in Tourism

Innovation is a very broad concept that has many different definitions. Innovations are bright ideas that move into common use and create real value for individuals and societies. Successful innovations can lead to economic achievements, including higher turnover, employment, and profits, among others. In addition, the value can be immaterial, such as increases in welfare and wellbeing. Innovation has been a buzzword in the business literature and among policy makers for several decades. Creative people and enterprises who master the commercial implementation of their ideas are important drivers of economic ...

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