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- The tourism position in the Algarve economic structure: a regional analysisPublication . Andraz, Jorge Miguel; Silva, João Albino; Viegas, CarlosThis paper analyses the evolution of the Algarve’s economic structure and the position achieved by tourist activity in the region between 1995 and 2003 to evaluate the region’s degree of specialization on tourism. The methodology applies the regional analysis tools, in particular the location and specialization indicators and the analysis is developed both at the inter-regional and intra-regional levels. The results suggest that the Algarve is the second most specialized region in the country, together with the region of Madeira, and behind the region of Azores. In the basis of this phenomenon are the sector of hotels and restaurants, which is directly connected to tourism, and other sectors such as fishery, trade, transports, communications and other services, which are indirectly connected to tourism. Furthermore, the focuses of concentration are limited to the coast line, with particular relevance in the areas of Albufeira, Vila do Bispo and Portimão.
- Persistence of travel and leisure sector equity indicesPublication . Andraz, Jorge; Guerreiro, Raúl Filipe C.; Rodrigues, Paulo M. M.Volatility persistence of travel and leisure sector equity indices and of some of its components is analyzed, and tests of whether persistence has changed over time are performed. Given the typical leading indicator behavior of financial variables, understanding and characterizing the properties of these indices may help shed light on the behavior of the tourism sector and of its resilience to crises. For the purpose of analysis, our sample is split into three subsamples according to the World tourism cycle: (i) from January 1996 to December 2002; (ii) from January 2003 to August 2007; and (iii) from September 2007 to July 2014. Results suggest the existence of long-memory dynamics driving series volatility, and that shocks to volatility tend to be more persistent during periods of turmoil and affect regions differently.
- Tourists’ perceptions about the tourism in the Algarve: contributions for a sustainable tourism developmentPublication . Silva, João; Andraz, Jorge; Pereira, LN; Nunes, Rui Miguel da Cunha; Rijo, Ana RitaSince the construction of Faro Airport in 1965, the Algarve has developed into a mass tourism (Costa, 2005) and sun, sea and sand destination (Do Valle et al., 2012), becoming one of the most popular tourist destinations in Europe (Andraz & Rodrigues, 2016), and a crucial one for Portugal (Soler et al., 2019). The 5,412 square kilometre region has several features contributing to its atractiveness, such as mild weather conditions, over 3,000 hours of sunshine per annum and low rainfall (Visit Algarve, 2018). Natural areas occupy 70% of the 318 km Algarvian Coast and 37% of its territory consists of natural reservations, nature parks or protected landscape areas (Visit Algarve, 2018). The region hosts 31 of the 70 golf courses of Portugal and is a reputable golf destination, having received titles such as “Best Worldwide Golf Destination” by the International Association of Golf Tour Operator (IAGTO) on several occasions (Oliveira et al., 2019). The main source markets of the Algarve are domestic tourism and Europeans seeking a beach or golf holiday (Oliveira et al., 2019). With its high contribution to the GDP, the region strongly relies on tourism as a contributor to the economy (Do Valle et al., 2012).