Academic literature on the topic 'Wine tourism'

Purpose In Mexico, wine tourism has become a relevant issue in the past 20 years. Research in this region is in a nascent stage and largely focused on the supply side. Nevertheless, consumer behavior research on wine tourists of the region is needed to improve the wine region positioning. Therefore, the purpose of this paper is to find out the predictors for revisit intention (RI) to the Valle de Guadalupe wine route. Design/methodology/approach The information was obtained by applying an exit poll survey to a sample of 422 wine tourists at the micro, small and medium wineries in Ensenada, Mexico. The spatial-temporal model was used to predict the wine tourist RI. Three dimensions were used: pre-visit, in situ experience and travel to/from. Multiple linear regressions were carried out to assess the relation between the three dimensions and RI. Findings The results obtained show that the pre-visit and in situ dimensions have an effect on RI to the wine route. Research limitations/implications The generalization of the results may be limited due to fact that only the repeated visitors of the autumn season are included; therefore, it is not applicable to summer (high season of wine tourism) and first-time visitors. Practical implications The results provide implications for the owners of the micro, small and medium wineries seeking to improve the experience and increasing the tourist RI to the wine route. Originality/value The theoretical added value of this paper is its contribution to the body of knowledge about the wine tourism spatial-temporal model, evaluating the complete wine tourism experience to predict RI.

This research aims to develop a strategy for developing educational tourism in Hatten Wine. This research uses a qualitative descriptive approach with interview, observation, documentation and discussion group forum (FGD) methods. The results of this research show several attractions and facilities such as vineyards, wineries and wine cellars. The main facilities that other producers do not have are the oak barrel room and sparkling room, which are the only ones in Indonesia. and there is a Hatten education center as an official institution for certified wine training. For tourist activities that can be done in Hatten, such as seeing the wine making process, how to grow grapes as a basic ingredient for making wine, wine knowledge, wine serving and wine pairing. Various efforts have been made to increase tourist visits, such as creating wine class programs, international certification and wine events. However, development strategies are still needed to increase visits, such as: Creating a wine tourism program and collaborating with travel agents and tour operators in promoting educational tourism programs and also completing tourist facilities such as the new winery that Hatten plans to build which is more spacious and complete.

Wine routes throughout European countries, and across the new world has created a link between wine and tourism. Wine tourism has gained popularity within the Western Cape province, famously in Stellenboch and Paarl howver not limiting close and surrounding vine routes of the western cape. The growth of tourism wine has led to an increase in the number of wines producing cellars and the route has been attracting tourists. Wine tourism in KwaZulu-Natal remains an untapped experience that includes touring vines that produces grapes, food paring, the wine lifestyle, wine culture and the creation of a relaxing environment for enjoyment and happiness of the guests. Tourism wine in KwaZulu Natal is niche market and untapped experience that can promote tourism in the KwaZulu-Natal province. Keywords: Wine Tourism, Wine Routes, Wine Culture, and Untapped

Wine tourism in the Republic of Moldova occupies an important segment in the country's tourism. Investments in wineries and the state's initiative to register the Republic of Moldova on the map of European wine tourism have led to the creation of itineraries that allow visiting numerous domains and wineries. Moldovan wine products are in demand on the EU market, which contributes to the sustainable development of both the wine sector and wine tourism. This article represents a research of the difficulties and possibilities of development of the wine tourism activity in order to discover the solutions and ways of development of the wine tourism in the Republic of Moldova. The topic is current and needs to be researched. The purpose of the present scientific investigation is to research the wine tourism activity of „Mileștii Mici” Winery, the largest underground winery in the Republic of Moldova, in order to identify development obstacles and ways to overcome them. The present study was carried out based on the following research methods: analysis, synthesis, comparison, grouping, etc. The authors' contribution consists in the presentation, calculation and analysis of the main indicators regarding the volume of tourist activity, the evaluation of the performance, competition, risk and tourist potential of the „Mileștii Mici” Winery and the development of recommendations regarding the promotion of its tourist activity.

Serbia has significant potential for the development of wine tourism. Wine tours, which are increasingly common forms of tourist attractions, both for domestic and foreign tourists, occupy a significant role on the tourist map of the country. The development of local vineyards, through the promotion of the best wines, represents the next significant step that will raise wine tourism in Serbia to an even higher level. Precisely for this reason, the main subject of this paper is the sensory evaluation of four local wines from the Vrtogos wine region of the Stari Dani winery, which is located in city Bujanovac in the very south of Serbia. Sensory evaluation of quality was carried out by trained tasters, who had the task of evaluating the potential they have for the development of wine tourism. Four types of wine were selected for the experiment, produced from commonly known grape varieties, but with an authentic and recognizable identity. The main goal is to show the sensory characteristics of the selected wines and compare their ratings, which can show whether the given wines have the potential to be drawn on the tourist map of Serbia and become an integral part of the hospitality and tourism offer.

AbstractIn an increasingly competitive tourist market, wine and enogastronomy are becoming key elements in the development of tourist products in regions that cultivate grapevines, in Slovenia and internationally. It has been claimed that no kind of tourism can develop in regions without wine; however, from today’s perspective, this claim seems an exaggeration. Nevertheless, enogastronomy is an integral part of many contemporary tourist products. As such, it combines tradition, history and heritage and also improves the recognisability of a given destination on which modern wine tourism products rest. On a global scale, wine tourism is growing, and the forecast for the future is likewise promising.The essence of a wine tourism product is to connect food and wine, i.e. enogastronomic or culinary experiences, and to follow new trends. The trend is to consolidate this segment of tourism services, in particular through leisure activities and relaxation at the destination of choice. Food and wine thus become part of the cultural experience of the visited destination and equal the experience of visiting a museum or a concert or can be an equal component of such a package.

The aim of the following paper is to underline the role and importance of wine tourism as an alternative form for the sustainable tourism development in the Varna Black Sea tourist region. The first part of the report examines the main characteristics of wine tourism as an alternative form of tourism. The second part of the report is dedicated to the analysis of the resource potential of the Varna Black Sea tourist region for the development of wine tourism. The largest wine cellars are presented, with a focus on the conditions for tourist visits. In the end of this paper the possibilities for development of wine tourism in the researched area are summarized.

This article reviews the role and place that wine tourism holds in the specialization of the different tourist regions in the country according to the current Concept for Touristic Zoning of Bulgaria (2015). It was clarified for which of the tourist regions wine tourism is the main, respectively complementary type of tourism. Along with that, a comparison was made between the tourism zoning adopted in our country and one of the viticultural zonings which reveals five viticultural regions. It was established that wine tourism was listed as the main or a complementary type of tourism for four out of five identified wine - growing regions. An attempt has been made to explain the absence of wine tourism both in the main and in the additional specialization of Varna and/or Burgas Black Sea tourist regions which are part of the Eastern ("Black Sea") viticultural region of Bulgaria.

Wine tourism is the priority form of tourism for a series of countries. It must be integrated and adapted to the tourist market necessities worldwide, to increase the number of tourists. Investigations carried out in the field of wine tourism should be integrated with those conducted globally. At the same time, it is necessary to integrate the two industries: wine and tourism. Wine production and tourism are essentially on opposite ends of the industrial spectrum, while the characteristics of each activity are different from a microeconomic perspective. On one end, wine production is a primary and partially secondary activity based on industry, characterised by being dependent on supply prices and by producing a standardised and homogeneous product, relying on capital increase to create wealth. At the other end of the industrial spectrum, tourism is a services industry characterised as a heterogeneous service determined by demand, by obtaining prices, maximising profit, and relying on profits to create wealth. Wine tourism may generate substantial earnings, thus contributing to the development of regions and making the labour market and the companies conducting their activities in this sector more dynamic. By allotting various funds, one may increase wine quality and readjust the supply of tourist services, thus determining an increase in location popularity and incomes, implicitly. This paper approaches the interaction between wine tourism and wine production. It is due to the fact that wine tourism development is in the charge of wine producers, most often small and medium enterprises. Hence, the increase in wine quality is one of the challenges for the interested parties in wine enterprise development. The article aims to determine the influence of the wine sector on the development of tourism in the world’s leading countries in wine production. In order to achieve the objective, the statistical data for the period 2016-2021 regarding the evolution of wine production in 22 countries with the highest volume of wine production were analyzed. Travel and tourism competitiveness index and International tourist arrivals were analyzed for the same 22 countries. The results of the research showed that the countries with the highest volume of wine production have the highest International tourism inbound receipts. The countries leading the world in wine production such as Italy, Spain, France, USA among the top 5 countries with the largest International tourist arrivals.

This study examines the economic, cultural and environmental complexities of wine tourism between China and Australia. It presents an interpretation, in the context of larger social and political influences, of wine consumption and tourism by Chinese consumers/tourists and its links to culture, capital, gender, generation and sustainability. The project uses qualitative research and analyses fieldwork data in the Australian wine regions, interviews with Australian wine experts, tourism professionals and Chinese consumers/tourists. It is a data-based, culturally-engaged and economically-concerned approach, exploring the present and considering the extent to which Australian wine and tourism will look to the Chinese market in the future. The objective of the study is to examine how cultural, political, social and sustainable values and behaviours are revealed in interactions in wine tourism, and to explore these through Bourdieusian concepts (habitus/taste/capital) and from traditional Chinese culture (mianzi/guanxi/renqing), as well as terroir (an important notion in wine culture). The literature review engages with and unpacks the similarities and the differences that are evident when Chinese and Western cultural concepts and realities encounter each other. The arguments and discussions on mass tourism, wine tourism, niche tourism and sustainable tourism theoretically ground this research. It argues that ‘sustainable mass tourism’ is the future for China’s tourism, focusing on how to guide mass tourists to travel in a more responsible way. The study considers the role of gender and emphasises the dimension of generation when conceptualising wine/sustainable tourism. The thesis also investigates how the Australian bushfires and worldwide COVID disrupted Chinese tourism to Australia, and the huge economic impact of China’s imposition of 116.2%-218.4% tariffs on Australian wine in March 2021. This research explores the multiple challenges facing wine and tourism as well as opportunities for sustainable economic and environmental development. It claims it is the responsibility and commitment of destinations and local communities to preserve and care for nature by reducing climate change induced risks and enriching sustainable attributes when guiding tourists to enjoy sustainable tourism. The research findings reveal that the economic importance of the Chinese market has deeply impacted the Australian wine sector and its tourism; Chinese women have played a rising role in wine consumption and outbound tourism, and are called the ‘purchasing muscle’, showing their independence in the economy, their taste for wines and for outbound tourism; and the different generations of Chinese consumers/tourists displayed both similarities and differences in their behaviour and attitudes to Western wine culture and outbound tourism. The study proposes three possible trends for industrial practices in sustainability and points out possible future research directions.

Self-congruity theory proposes that part of consumer behaviour is determined by an individual’s comparison of the image of themselves to the image of a product/brand, or to the stereotype of a typical user of the brand (Sirgy, 1986). Self-congruity models have been used in a variety of product branding applications; however, limited research has been conducted within the service industries. Services are intangible making them difficult to evaluate until the moment of consumption. Hence, decision making is often based on cues such as the image of the service or users of the service (Kleijnen, de Ruyter, & Andreassen, 2005). As a result, selfcongruity theory is very applicable to services due to the unique characteristics of services and its experiential nature. In particular, there is a lack of evidence within the tourism literature on the effect of self-congruity on tourists’ intentions or motivations to visit a destination (Boksberger, Dolnicar, Laesser, & Randle, in press; Bosnjak, Sirgy, Hellriegal, & Maurer, in press; Litvin & Goh, 2002; Sirgy & Su, 2000). This thesis focuses on a niche market, wine tourism. The number of wineries with cellar doors open to the public over the last 5 years has increased by 37.3 % to 1,647 wineries in 2010 within Australia (Winebiz, 2010a). The majority of these wineries are reliant on wine tourists for their wine sales. Actual wine visitors during this same period had minimal growth. In fact, there was no growth for domestic overnight wine visitors, whilst domestic day visitors had an average growth of 3%, and international visitors an average of 3% growth (Tourism Research Australia, 2010). Purchase and visitation behaviour relevant in tourism has often centred on finding answers to what, where and how tourists buy rather than why (Beerli, Meneses, & Gil, 2007). As a result, a lot of tourism research focuses on functional attributes with little attention to value expressive attributes of a destination, such as the image of a destination (Chon & Olsen, 1991) or destination visitor image. Within the tourism context, Sirgy and Su (2000) hypothesised that the greater the match between the destination visitor image and the tourists self-image, the more likely that the tourist would have a favourable attitude toward that destination, and the more likely that the tourist would visit the destination.
Thesis (PhD Doctorate)
Doctor of Philosophy (PhD)
Griffith Business School
Griffith Business School
Full Text

Tese apresentada à Universidade Fernando Pessoa como parte dos requisitos para obtenção do grau de Doutor em Ciências Empresariais
This study aims to contribute to the conceptual development of consumer behaviour in wine tourism area by bringing new discussion and empirical evidences. For this, a literature review of the main concepts was conducted in order to develop and support a conceptual model. This model was subsequently validated and empirically tested, and a hypothetical relationship between constructs was established: involvement (personal involvement and wine product involvement), destination emotions and place attachment (place identity and place dependence). This is, so far, the first study that analyses the combined interaction of all these constructs. This research was undertaken in the framework of wine tourism, namely the measurement of the wine tourist behavior after visiting the Porto wine cellars. Methodologically, the first chapter is a qualitative exploratory study that performed a content analysis on the key constructs (involvement and emotions), allowing a better understanding of how they can be defined, and the main dimensions underlying each one of them. The second chapter consisted of a conceptual approach, which focused on the clarification of the definition of wine tourism, and the wine tourist behaviour in particular. It also explored the possible relations between constructs (involvement, destination emotions, place attachment and behavioural intentions), postulating the key preposition that stems from their interaction. In the third chapter, a quantitative research was used, using a personal intercept survey in the Porto wine cellars to validate and to give empirical evidences about the behaviour of the Porto wine cellar visitor. The multilevel analysis of the proposed structural model was made using the SmartPLS software, allowing the confirmation of all the proposed hypotheses. In the first chapter, the findings provided a theoretical support of the relevance of involvement and emotions constructs in the field of tourism. The content analysis produced insights based on concepts and definitions of these two constructs on a more holistic perspective. In the second chapter, the findings sustain the special interest in consumer behaviour in wine tourism, and it stated a set of five prepositions, where the main constructs are interlinked. In the third chapter, the empirical results indicated that wine tourists’ personal involvement and their wine product involvement have a significant influence (and a direct effect) on destination emotions and place attachment, driving their behavioural intentions. The study had direct implications (analysis and evaluation of the wine tourist travel behaviour and wine tourist profile) for the Porto wine cellars. The results led to practical implications and suggestions for wine tourism managers. Este estudo tem como propósito contribuir para o desenvolvimento conceptual do comportamento do consumidor na área do enoturismo, contribuindo com uma nova discussão e evidências empíricas. Foi realizada uma revisão da literatura sobre os principais construtos, a fim de desenvolver e apoiar um modelo conceptual. Este modelo foi posteriormente validado e testado empiricamente, e foi estabelecida uma relação hipotética entre os construtos: envolvimento (envolvimento pessoal e envolvimento com o produto vinho), as emoções do destino e apego ao lugar (identidade do lugar e dependência do lugar). Até agora, este é o primeiro estudo que analisa a interação combinada de todos estes construtos. Esta pesquisa foi realizada no âmbito do enoturismo, ou seja, a medição do comportamento do enoturista após visitar as caves do vinho do Porto. Relativamente à metodologia aplicada, o primeiro capítulo é um estudo qualitativo exploratório que resultou numa análise de conteúdo sobre os construtos chave (envolvimento e emoções), permitindo uma melhor compreensão de como eles podem ser definidos, e as principais dimensões subjacentes a cada um deles. O segundo capítulo consistiu numa abordagem conceptual que incidiu sobre a clarificação da definição de enoturismo, e o comportamento do enoturista em particular. Este capítulo também explorou as possíveis relações entre os construtos (envolvimento, emoções do destino, apego ao lugar e intenções comportamentais), que determinam a preposição chave que decorre de sua interação. No terceiro capítulo, uma pesquisa quantitativa, foi utilizado um questionário estruturado nas caves do vinho do Porto, para validar e dar evidências empíricas sobre o comportamento do visitante nas caves do vinho do Porto. Foi realizada a análise multivariada do modelo estrutural proposto, utilizando o software SmartPLS, que permitiu a confirmação de todas as hipóteses propostas. No primeiro capítulo, os resultados forneceram um suporte teórico da relevância dos construtos do envolvimento e das emoções na área do turismo. A análise de conteúdo produziu perceções com base em conceitos e definições destes dois construtos, numa perspetiva mais holística. No segundo capítulo, os resultados sustentam o especial interesse no comportamento do consumidor no enoturismo, e foi apresentado um conjunto de 5 preposições, onde os principais construtos são interligados. No terceiro capítulo, os resultados empíricos indicam que o envolvimento pessoal dos enoturistas e o seu envolvimento com o produto vinho têm uma influência significativa (e um efeito direto) sobre as emoções do destino e o apego ao lugar, impulsionando as suas intenções comportamentais. O estudo teve implicações diretas (análise e avaliação do comportamento de viagem do enoturista e perfil do enoturista) para as caves do vinho do Porto. Os resultados levaram a implicações práticas e sugestões para os gestores de enoturismo. Cette étude a pour but contribuer pour le développement conceptuel du comportement du consommateur en oenotourisme, apportant une nouvelle discussion et des évidences empiriques. Il a été faite une révision de la littérature à propos des principaux concepts, a fin de développer et soutenir un modèle conceptuel. Ce modèle a été ensuite validé et testé empiriquement, et il a été établi un rapport hypothétique entre les concepts : engagement (engagement personnel et engagement avec le produit vin), émotions du destin, attachement à l’endroit (identité et dépendance de l’endroit). Celle-ci c’est, jusqu`à présent, la première étude qui analyse l’interaction combinée des tous ces concepts. Cette recherche a été réalisée dans le cadre de l’oenotourisme, ça veut dire le mesurage du comportement de l’oenotouriste après visiter les caves du vin Porto. Méthodologiquement le premier chapitre c’est une étude qualitative exploratoire qui a réalisé une analyse du contenu sur les concepts clé (engagement et émotions), en permettant une meilleure compréhension de la façon dont ils peuvent être définis, ainsi que les dimensions principales inhérentes à chacun d’eux. Le second chapitre a consisté dans une approche conceptuelle qui portait sur la précision de la définition de l’oenotourisme, et le comportement de l’oenotouriste en particulier. Ce chapitre a aussi exploité les éventuels rapports entre les concepts (engagement, émotions du destin, attachement à l’endroit et intentions comportementales) qui postulent la préposition clé qui découle de son interaction. Dans le troisième chapitre, une recherche quantitative, il a été utilisé un questionnaire structuré dans les caves du vin Porto, a fin de valider et de donner des évidences empiriques sur le comportement du visiteur dans les caves du vin Porto. Il a été réalisé l’analyse multifactorielle du modèle structurel proposé, en utilisant le software SmartPLS qui a permis la confirmation de toutes les hypothèses proposées. Dans le premier article, les résultats ont fourni un soutien théorique de la pertinence des concepts de l’engagement et des émotions dans le domaine du tourisme. L’analyse du contenu a produit des perceptions ayant comme base des conceptions et définitions de ces deux concepts, dans un point de vue plus holistique. Dans le second article, les résultats soutiennent le spécial intérêt dans le comportement du consommateur dans l’oenotourisme, et il a été présenté un ensemble de 5 prépositions, où les principales constructions sont interconnectées. Dans le troisième article, les résultats empiriques indiquent que l’engagement avec le produit vin ont une influence significative (et un effet direct) sur les émotions du destin et l’attachement à l’endroit, en poussant ses intentions comportementales. L’étude a eu des implications directes (analyse et évaluation du comportement de voyage de l’oenotouriste et profil de l’oenotouriste) pour les caves du vin Porto. Les résultats ont amené à des implications pratiques et suggestions pour les gestionnaires de l’oenotourisme.

Wine tourism has emerged as a strong and growing area of special interest tourism in Australia, and as such it has become an increasingly significant component of the Australian regional tourism product. The Australian Wine Foundation (1996) estimates total Australian wine tourism figures to be in the order of 5.3 million visits per annum, worth $428 million in 1995 and which is expected to grow substantially to around $1100 million by 2025. As a consequence, Australia's Federal and State Governments and regional communities (including regional associations) are recognising the benefits of promoting their wine districts as tourism attractions in their own right. While the destinational appeal of wine regions and the concept of wine tourism is generally acknowledged, research concerning wine tourism development, marketing and impacts is lacking. Therefore, this thesis examines the nature and potential of wine tourism in Australia, and documents its historical development and current status. The activities and initiatives of a number of agencies involved in wine tourism development and marketing are also critically examined, and significant wine tourism developmental issues are investigated through a case study of the Canberra District, an emerging Australian wine region. A number of developmental similarities between rural tourism and wine tourism are noted, including: a lack of tourism and marketing awareness and knowledge by practitioners, and a lack of industry integration and cohesion. These issues are compounded by the infancy of wine tourism and the dominant product focus of wine makers and the Australian wine industry, resulting in the absence of effective inter sectoral linkages. While a number of tourism agencies and wine industry associations are pursuing wine tourism development initiatives, the success and sustainability of these activities is dependent upon addressing various developmental issues.

The wine industries of Argentina and Spain have undergone significant structural change over the last thirty years that has coincided with a period of trade liberalisation and as part of neoliberal economic reforms. In addition new markets have emerged in North America, Europe and Australasia, domestic consumption has declined, competition has increased and there has been a shift in consumer tastes to better quality, fine wines. As a result the patterns of supply and demand have changed and there has been a transition from a protected productivist to a post-productivist regime. Wine tourism has provided the medium through which these post productive features of transition brought about by neoliberalism have been investigated. The analysis uses and extends the work of Marsden (1995) and Wilson (2001) by emphasising the importance of locally assembled networks and clusters and the integration of the producers with their local communities. It also reworks Le Heron (2001; 2005) to argue that reconfigurations of the supply chain are indicative of the post productive transition. The research specifically looks at the wine industries in Argentina and Spain from the point of view of the producer. It compares and contrasts wine tourism in these countries with wine tourism in the English speaking world and it looks at the rationale and benefits of wine tourism. Consequently, it broadens our knowledge of wine tourism and post productivism beyond the boundaries of the English speaking world where both have been adequately documented, to Spanish cultures in the Old and New Worlds, in Europe and Latin America.

Recently, New Zealand's wine industry has made remarkable progress. For example, the number of hectares planted in grapes increased from 4,880 in 1990, to 15,479 in 2003, and the number of wineries increased from 175 in 1993 to 421 in 2003. Projections for 2006 indicate that the growth of wine exports should nearly double from 2003, with expected revenues of $NZ 736 million. However, despite this growth, little has been reported about developments in New Zealand's wine tourism industry, or about consumer perceptions of the winery experience in the form of published academic research. The limited amount of information, particularly from the visitors' points of view, may not only be preventing winery operators and the wine industry in general from having a better understanding of their visitors, but also from addressing the needs of different visitor segments. Resulting implications for winery operators may include forgone business opportunities, and customers not fully benefiting in terms of product and service quality. Recent studies indicate that this last element is particularly important in wine tourism. This study reports the results of an exploratory research project conducted in New Zealand wineries that investigated aspects of the winery experience, including wine involvement, satisfaction with the winery experience, and visitor demographics. An index to measure involvement with wine, the wine involvement index (WIX), was developed and utilised to investigate whether wine involvement had an impact on winery visitors' behaviour. Data were collected from winery visitors via questionnaires distributed in a sample of wineries in different wine regions of New Zealand. A total of 609 usable responses were obtained (24.8% response rate). The results indicate a number of differences between the independent, dependent, and moderating variables. For example, it was found that age, whether visitors are domestic or international, and different levels of wine involvement appear to have a clear impact on winery expenditure. In addition, the WIX was confirmed to be a useful tool, for example, by identifying potential relationships between different groups of winery visitors. The results add new knowledge to the area of wine tourism, and offer useful information for wineries and the wine tourism industry. This information includes the potential commercial significance of some visitor groups. An additional contribution of this study is the 'complete wine tourism research model.' This concept presents an alternative to existing wine tourism models, and points out attributes and dimensions that play a major role in the winery experience.

Word processed copy.|Bibliography: leaves 64-66.
This thesis acts as a series of 'snapshots' into the meaning of 'wine tourism'. Each chapter of my main body of work looks at a different segment of wine tourism in the Western Cape: a fast growing industry that inherits attributes from both the wine and tourism industries. Themes of landscape and the tourist experience track through these separate snapshots, linking them together. A passion for wine and the drinking of wine would seem to have been an enjoyable pastime passed down from epochs of wine lovers and producers that stood before us in the 'winescapes' of time. While this conception of the wine drinking tradition may be presented to us today, it should be remembered that this might not have been the case in times gone by. Looking back to South Africa and the wine industry in the 1950s where 'wine consciousness' was a real concern for the marketers and makers of wine, we find no such traditions in place. Obstacles to the integration of wine into everyday living came in the form of an avid temperance movement concerned with drunkenness and alcoholism. Over time these obstacles heeded to the power of the wine industry so that increasing emphasis was placed on the role of publicity and marketing of wine. It was perhaps a natural development that wine tourism came to hold particular potential and interest for South African wine producers. The history of wine tourism of the Western Cape is inherently connected to the establishment of our first wine route in Stellenbosch. With a concern for the superiority of the European wine making tradition and landscape, it was only in 1970 that we saw a change in interest to the wine regions and heritage landscapes of our own country. The SteHenbosch wine route was a concept inspired by European example but grounded in local landscape. The significance of the mapping out of this landscape of space into place was a real concern for the wine makers of the regions whose freedom to market and export their wine overseas was severely restricted by legal prohibitions established by the KWV in the 1960s. With the defining of distinct wine regions, came the emphasis of difference of place within the winelands of the Western Cape. Each region has a formula for difference based on some combination of breathtaking scenery, quality wines, first class cuisine, and with increasing frequency the heritage of European roots. The construction of place and landscape identities gives us a sense of the perspective of the marketer and promoter of the wine region. I found it important to explore how this construction of identity of place came to be experienced by and presented to tourists in the present day.

This thesis investigates the impact of clustering on the development and operation of wine and tourism industries in Victoria, Australia. Specifically, the research analyses the structure and competitive strength of industry players, and highlights the importance of geographic co-location on their behaviour. In essence, this study examines micro-clusters in these regional industries to identify overlap and complementarity between them. The research focuses on three case studies based around geographic locations in Central and Western Victoria - Ballarat, Northern Grampians and Bendigo regions. "The primary aim of the study is to gain an understanding of the scope of wine and tourism micro-clusters and how they interact. [...] Generally speaking, this study develops and applies a framework that demonstrates the relevance of cluster theory as a regional development tool for scenarios that fucus on co-located clusters at a micro level, as opposed to the majority of research reported that focuses on the macro level."
Doctor of Philosophy

O presente relatório de estágio apresenta como principal objectivo, fazer uma descrição, análise e reflexão acerca do estágio levado a cabo durante 4 meses no enoturismo Cartuxa. Este relatório está inserido no âmbito do Mes-trado em Turismo e Desenvolvimento de Destinos e produtos com o objectivo de adquirir o grau de Mestre pela Universidade de Évora. Para a elaboração deste relatório foi realizado uma revisão da literatura sobre turismo cultural, enoturismo, perfil do turista que visita a cidade de Évora, a qual deu origem ao quadro conceptual que suporta a investigação empírica. Caracteriza-se a entidade em que se realizou o estágio e as atividades desen-volvidas e uma análise crítica de desempenho, realçando os aspetos positivos e os menos conseguidos do trabalho desenvolvido. Por consequência, o relató-rio contém uma componente de investigação científica e um relato de cariz operacional; Abstract: The importance of tourism experience in the wine sector The main goal of this report is to make a description, analysis and reflec-tion about the internship developed during 4 months at Enoturismo Cartuxa. This report is part of the Master’s degree in Tourism and Development of Desti-nations and Products with the purpose to acquire the Masters Degree by the University of Évora. This report will include a literature review about cultural tourism, wine tourism, profile of the tourist that visits the city of Évora, which gave rise to the conceptual framework that supports the empirical research. The focus will be the entity in which the internship occured, the activities that were carried out, and a critical analysis of the personal performance, highlighting the positive and the less achieved aspects of the work developed. As a consequence, the report contains a scientific research component and an operational report.

Піпкун, А. О. Розвиток винного туризму в Україні : магістерська робота : 242 Туризм / А. О. Піпкун; керівник роботи Безуглий І. В. ; Національний університет «Чернігівська політехніка», кафедра туризму. – Чернігів, 2020. – 91 с.
Об’єктом дослідження є процеси розвитку винного туризму в Україні. Предметом дослідження є теоретико-методичні положення та практичні рекомендації щодо розвитку винного туризму. Метою дослідження є розгляд сучасного стану винного туризму України, виявлення його особливостей та перспектив розвитку з метою розробки нового винного туру. Для досягнення мети вирішені наступні завдання: дослідити наукові підходи щодо визначення сутності та особливостей винного туризму; виявити особливості організації винного туризму; розглянути специфіку формування дестинації винного туризму; окреслити особливості маркетингу у винному туризмі; здійснити аналіз сучасного стану розвитку винного туризму в Україні та світі; виявити проблеми та перспективи розвитку винного туризму в Україні; розробити проект винного туру і обгрунтувати його доцільність.
The object of research is the processes of wine tourism development in Ukraine. The subject of the research is theoretical and methodological provisions and practical recommendations for the development of wine tourism. The purpose of the study is to consider the current state of wine tourism in Ukraine, to identify its features and prospects for development in order to develop a new wine tour. To achieve this goal, the following tasks have been solved: to explore scientific approaches to defining the essence and features of wine tourism; identify the features of the organization of wine tourism; to consider the specifics of the formation of the destination of wine tourism; outline the features of marketing in wine tourism; to analyze the current state of development of wine tourism in Ukraine and the world; identify problems and prospects for the development of wine tourism in Ukraine; to develop the project of a wine tour and to substantiate its expediency.

This chapter aims to analyse the promotional tourist texts motivated by wine consumption focused on tourists. These texts, considered as communicating units in translation, acquire a special value when the framework of meanings and images are developed in tourist contexts such as the enotourism –a context in another context–. According to this, we study the Turespaña brochure “Wine routes around Spain” (Rutas del vino por España) and its linguistics versions in four different languages (French, English, German and Spanish). Once the peripherical and the core texts of the document have been analysed, we point out the most relevant translatological divergences among the linguistic versions, paying special attention to the translation techniques that can be appreciated by comparing the texts. To conclude, this work outlines how the enotourist texts can be considered of a certain degree of specialization because of the context where it is inscribed in terms of communication and translation.

Wine tourism represents one of the special forms of tourism that shows a significant increase in the international tourism market. In recent years, wine tourism has undergone significant changes and is increasingly gaining a place in global tourism trends. Tourists participating in wine route tours significantly contribute to the development of wine regions, not only through tastings and wine purchases, but also by participating in local gastronomy, hospitality, traditional crafts, and more. The study utilized a survey method, with a questionnaire instrument in the form of a case study of Tarpoš Winery from Aranđelovac, examining the attitudes of tourists impacting the development of wine tourism, as a prospective branch of tourism in the Republic of Serbia.

In the last four decades, tourism has received greater attention from researchers in several sciences. Wine regions can attract tourists who, in their turn, will be a source of revenue for the wine producers in that region. Though considered to be a niche segment, the interest in wine tourism re­search has grown because the wine sector is not just about producing a bev­erage; it’s a multifaceted industry with significant economic, cultural, and so­cial importance both in wine-producing regions and on a global scale. It con­tributes to job creation, international trade, tourism, and the preservation of cultural heritage, making it a vital sector for many countries around the world. Overall, wine tourism has the potential to be a catalyst for regional develop­ment by attracting visitors, creating jobs, spurring investments, and support­ing local businesses. As a result, many regions around the world actively pro­mote and invest in wine tourism as a means of enhancing their economic and cultural vitality. Albania is new to the wine sector, so this paper aims to provide some useful in­sights related to the possibilities that wine tasting, wine tours, or wine-related events present to local businesses and for the creation of destination image.

In the conditions of the modern competitively developing tourism, the problems of sustainable development of a tourist destination, the need for development of alternative types of tourism are economic and social processes of increasing importance. Moreover, they focus on some of the most important changes and problems in the way of development of modern tourism. Where are these intersections and what are they due to? In what sense are the phenomena of wine tourism, sustainable development and tourist destination becoming more and more interdependent processes? How is the national and regional development of wine tourism and its sustainable development reflected in the mirror of international tourism, in the conditions of "globality" and "locality"?

Wine destinations appeared as places where anyone can come to enjoy nature, food, cultural habits, food, and wine, whether they consume it or not. The intersection and combination of two different sectors (viticul­ture and tourism) became a new type of tourism and a new marketing tool to attract tourists, consumers, and customers to wine destinations as plac­es of new experiences. Similarly, Sergio Leone had no idea of the story of the sequel to his famous Spaghetti Western. Just as wine destinations had no idea of the possible interconnection of different sectors and how this devel­opment would evolve. Was that development intended or was it made more spontaneously by actors on the side of supply and participants on the side of demand, or cooperation of both as prosumers? In retrospect, this devel­opment can be evaluated as natural, as evidenced by the continued interest in this phenomenon. The article is a kind of contemplation and discusses the emergence and development of wine destinations from a regional, nation­al, and international perspective in the context of wine tourism. The method of synthesis is used to capture the connection of parts to a whole. The whole in this case is a wine destination composed of various attributes (as a desti­nation), activities (as a product and services), people (as a place to work), and values (as a catalyst for emotions and experiences). The so-called research from the table includes both the theoretical controversy and a look at the current wine tourism and wine destinations from a different angle in the field of marketing, management, or sustainability.

The area of Fruška Gora has great potential for the development of rural tourism, which has only been partially utilized. Wine and religious tourism in the area of Fruška Gora can be seen as the special forms of rural tourism, which, together with agrotourism, can form an authentic integrated tourist product of this area. Adequate promotion and sale of this product could contribute to an increase in the income of stakeholders. The aim of the paper is to present the potential integrated tourism product of Fruška Gora, as well as current incentives that can contribute to its economic sustainability. The research uses the methods of analysis, synthesis, desk research, as well as the descriptive method. The authors conclude that the proposed integrated tourism product, with adequate marketing activities, can contribute to the local sustainable economic development in the area of Fruška Gora, as well as to the reduction of the depopulation in these areas.

In accordance with the increase in consumer awareness of the negative consequences of pollution of the natural environment, many industries are adjusting their activities, striving for the placement of products and services that are environmentally acceptable and based on the postulates of sustainability. In order to reach consumers more easily, manufacturers in various industries are adapting elements of their brands to make them green as much as possible. The so-called „green wave” affects changes in the behaviour of producers in all sectors of the economy, including wine producers. Wine consumers around the world have different attitudes regarding green marketing activities. The aim of this paper is to gain insight into the attitudes and intentions of wine consumers in relation to the eco-friendly activities of wine producers in Bosnia and Herzegovina.

Wine tourism has become a major driver of sustainable rural development, promoting economic growth, preserving cultural heritage, and supporting environmental protection in wine-growing regions worldwide. This paper explores the interface between wine tourism and sustainable rural development, highlighting the multiple benefits and challenges associated with this dynamic relationship. Through a review of existing literature and case studies, the various strategies employed by wine regions to utilize tourism as a tool for socio-economic progress while protecting natural resources and community well-being are examined. The findings show that the successful integration of wine tourism into rural development requires careful planning, collaboration with stakeholders and a commitment to balancing economic prosperity, environmental protection, and social inclusion. By outlining key principles and best practices, this paper offers insights for policymakers, practitioners and researchers seeking to maximize the potential of wine tourism as a catalyst for sustainable rural development.

The Latin America and Caribbean (LAC) region has a long history of coping with natural hazards such as hurricanes, floods, and coastal storm surges. However, climate change is expected to exacerbate the threat of natural hazards and pose new ones. As a result of climate change, average temperatures and sea levels are known to be rising, precipitation patterns might change, and hurricanes could intensify. Many of these changes are already occurring, and are projected to become more severe in the future. The Inter-American Development Bank (IDB) supports a wide-range of projects in the LAC region. Climate change-related risks could adversely affect the financial, economic, environmental, and social performance of current and future IDB investments in the region. This factsheet identifies climate change risks and risk management options that can be incorporated into IDB-investments for the tourism sector.

Cash is still widely used in Colombia, even among merchants that accept payment cards. Indeed, 60% of these merchants use dissuasive strategies to make their clients pay with cash. This shows that merchant service costs (MSC) for cards are not optimal in the sense of the Tourist Test. We present estimates of MSC compatible with the Tourist Test, such that merchants are indifferent between being paid with cash or cards. We find that cash is less costly than cards at the average retail-sales transaction-value, hence there is no positive optimal MSC at this ticket value. For the average card transaction ticket, the optimal MSC would be positive but far below the rates charge by the industry (0.74% in a short-term scenario). Yet, the additional incentive that sales-tax evasion provides to cash payments reduces the Tourist Test MSC to 0.44%. Our estimates for long-term scenarios yield even lower optimal MSC. An average price cap regulation that strikes a middle ground between these figures, and is complemented with sales-tax evasion measures, should discourage merchant strategies that deter consumers from paying with cards and will accommodate the wide heterogeneity in merchants´ scale, payment processing processes and ticket size. These results should be taken as a guideline as the estimations depend on the underlying assumptions and only consider the merchant´s side of the card industry.

Located a two-and-a-half hour drive south of Perth, Busselton is one of the largest and fastest growing regional centres in WA, a lifestyle services hub and the gateway to the internationally renowned wine region and popular tourist destination of Margaret River. Promoted by the City of Busselton council as the ‘Events Capital of WA’, Busselton has a strong festival and events economy that fuels local creative and arts production, supported by demographic shifts and population growth that is resulting in more creatives living and working in the city.

Wind Cave National Park (WICA), the first cave in the world to become a national park, is famous for the park’s namesake feature. Wind Cave, named for the noticeable wind-flow patterns observed as air moves in and out of the natural cave entrance, is currently the third longest cave system in the United States and seventh longest in the world. Wind Cave formed when groundwater dissolved buried layers of the fossiliferous Madison Limestone, which were deposited during the Mississippian subperiod approximately 359 to 347 million years ago. In addition to the Madison Limestone, several other formations are exposed within the park, dating from the early Proterozoic to the Holocene. The presence of fossils within the park has been known since at least the late 19th century when early settlers explored the cave to turn the geologic feature into a tourist attraction. However, most of the geologic work conducted during the park’s history has focused on the exploration and development of the cave itself, rather than its fossils. Paleontology became a bigger focus in the late 20th century when the park partnered with the South Dakota School of Mines and Technology to recover and research fossils found within the cave and on the park’s surface. Other partnerships include those with the Mammoth Site of Hot Springs and Northern Arizona University, through which researchers have studied Quaternary cave deposits found across the park. In ascending order (oldest to youngest), the geologic formations at WICA include undifferentiated lower Proterozoic rocks (Precambrian), Harney Peak Granite (Precambrian), Deadwood Formation (Cambrian–Ordovician), Englewood Limestone (Devonian–Mississippian), Madison Limestone (Mississippian), Minnelusa Formation (Pennsylvanian–Permian), Opeche Shale (Permian), Minnekahta Limestone (Permian), Spearfish Formation (Permian–Triassic), Sundance Formation (Middle–Upper Jurassic), Unkpapa Sandstone (Upper Jurassic), Lakota Formation (Lower Cretaceous), Fall River Formation (Lower Cretaceous), White River Group (Eocene–Oligocene), and Quaternary alluvium, conglomerate, and gravel deposits. The units that are confirmed to be fossiliferous within the park are the Deadwood Formation, Englewood Limestone, Madison Limestone, and Minnelusa Formation, which contain a variety of marine fossils from a shallow sea deposition environment; the Sundance Formation, which has much younger marine fossils; the Lakota Formation, which has yielded petrified wood; and the White River Group and Quaternary deposits, which contain vertebrate and invertebrate fossils deposited in and near freshwater streams, lakes, and ponds. Many of the fossils of WICA are visible from or near public trails and roads, which puts them at risk of poaching or damage, and there is evidence that fossil poaching occurred at several of the Klukas sites soon after they were discovered. Furthermore, there are several fossil sites on the tour routes within Wind Cave, which are of value to interpretation and the park experience. WICA has implemented cyclic fossil surveys in the past to monitor site conditions, and it is recommended that this paleontological resource monitoring be continued in the future.

This study explored spatial patterns of overflights at Badlands National Park (BADL). Overflights were analyzed from July 13, 2022 to August 27, 2022 (46 days) using Automatic Dependent Surveillance-Broadcast (ADS-B) data. There were 26 days of data and 20 days of missing data due to technical difficulties with the ADS-B logger. The first phase of analysis focused on all overflights and found overflights above most areas of BADL. The second phase of analysis focused on low-level overflights that fly below 7,000ft mean sea level (MSL) and fly within 10-miles of the BADL boundary, which found a concentration of flights between 4,000 - 7,000 feet MSL near the eastern boundary of BADL. The third phase of analysis removed all overflights known not to be air tours. Figures were produced that display all the flights of the cleaned dataset, waypoints across AGL altitudes, waypoints across MSL altitudes, flightpaths for fixed wing single engine, flightpaths for rotorcraft, flight paths for fixed wing multi engine, and flightpaths for specific air tour operators. This information can be used for planning and management purposes and this study serves as a resource for future research.

This report presents a combined meteorological and economic study commissioned by EUMETSAT as part of the planning trajectory for the EPS-Sterna polar-orbiting satellite constellation. The focus of the study is on the foreseeable effects of EPS Sterna on meteorological forecasts and the resulting socioeconomic benefits, particularly regarding application at high latitudes, with emphasis on the Nordic countries. The study has an explorative character, hence the quantified estimates of benefits only indicate orders of magnitude for selected sectors. A more comprehensive assessment of expected benefits would necessitate a larger study. The report focuses on sectors for which significant benefits were expected, being civil aviation in Nordic countries (excluding Iceland) and wind turbine-based electricity production in the Nordpool area. For civil aviation, increased precision in forecasting winterly precipitation enhances preparedness on airports, thereby reducing weather-related delays. The potential annual benefit for the aviation sector in the Nordic countries is estimated at approximately €5 million, with an additional €1 million in avoided travel time loss. The upscaled effect for aviation in Europe is estimated at around €15 million per year. In wind power production, timely identification of probable formation of ice and snow on turbine blades benefits the Nordic power market through smoother operations and cost savings. The expected annual benefits for society are approximately €15 million, growing to €27 million when considering growth in electricity use. Applying a satellite constellation lifetime of 12 years (2029–2040), the estimated cumulative benefits range from €240 million (using base year levels without expansion) to €495 million (using maximum values per sector). No discounting of benefits nor costs has been applied. Other sectors with potential benefits include construction, tourism, urban operational management, and more. A coarse assessment for the Finnish building sector suggests expected annual benefits of about €1 million. The study notes that EPS Sterna's forecast improvements may lead to the development of new smart services, influencing property management and generating economic effects. Realizing the benefit potential of EPS Sterna data requires dedicated weather service development and improved data integration with non-meteorological data. The report recommends establishing a repository of cost-benefit analysis (CBA) data and results to facilitate future evaluations of satellite constellations.

This study explored spatial patterns of overflights at Bryce Canyon National Park (BRCA). Overflights were analyzed from August 14, 2023 to March 12, 2024 using Automatic Dependent Surveillance-Broadcast (ADS-B) data. Phase 1 of analysis focused on all overflights and found airspace use was predominantly by commuter traffic along major flight paths. Phase 2 of analysis focused on low-level overflights that fly below 11,500 ft mean sea level (MSL) and fly within 10-miles of the BRCA boundary. It found that most flights occurred between 9,500?10,500 ft MSL. Flights below 8,500 ft MSL concentrated around the Bryce Canyon Airport just outside the park and the main scenic amphitheater within the park. Phase 3 of analysis removed all overflights that were civil patrol flights, major airlines, and survey flights. The remaining flights were low-level overflights, including air tours. Kernel density analysis revealed that these flights were most concentrated in the northwest corner of the park at an altitude interval of was 501?1,000 ft above ground level (AGL). The greatest percentage of flights were between 1,500?2,000 ft AGL, clustered over the main amphitheater and Fairyland / Tropic Ditch. Midday was the most popular time of day for overflights. Two thirds of the flights were by fixed-wing single engine aircraft, with relatively few rotorcraft. This information can be used for planning and management purposes, as well as a resource and baseline for future research.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.

The report assesses the past, current and predicted bio-physical, sociocultural and economic impacts of tourism development in the Lower Mekong River Basin and identify concerns of trans-boundary and basin-wide character.