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Analyzing the main determinants that lead a traveler to make a cultural trip is an important issue to understand where the cultural tourism market is going, and where the decision-makers should intervene. This study helps develop a profile of cultural tourism participants, and underscore the changes in this market niche. This information is crucial for the successful marketing and development of cultural tourism in the future.

The authors estimate a binary probabilistic (logit) model to determine the probability of a tourist to travel for cultural reasons, as a function of the traveler's socio-economic characteristic (e.g. age, gender, income or level of studies), of the trip-related characteristics (e.g. distance traveled to destination or mode of transport) and of the characteristics of the province of destination (e.g. weather conditions or existence of cultural sites at destination).

This study’s estimates reveal that middle-aged individuals, with a higher level of studies and with a medium level of income show a higher propensity to travel for cultural reasons. The latter finding evidences that cultural tourism has evolved from a niche market reserved for an elite clientele to a much wider range of people. Additionally, cultural travelers tend to travel statistically much longer distances. They are less prone to visit crowded destinations, prefer visiting destinations with important cultural sites, and are less sensitive to weather conditions. Finally, the authors discover a complementary effect of culture tourism and other activities carried out during the trip such as visiting cities or theme parks; and a substitution effect with “beach-and-sun” tourism.

The information given in this study can be crucial for the successful marketing and development of cultural tourism in the future. A better understanding of the main determinants of being a cultural traveler implies a better and a more efficient implementation of managerial and political measures to attract a kind of tourism characterized by a high spending capacity.

Discovering the main determinants of being a cultural traveler is a topic scarcely treated in the literature. This study has the main originality to include characteristics of the destination (pull factors) to explain the individual's decision to take a cultural trip. Moreover, the authors work at a provincial (NUTS-3) level of analysis, which makes this study original in the field of cultural tourism.

The purpose of this paper is to examine how crises impact overall tourist behaviour and travel preferences in times of crisis events, both man-made and natural disasters. In doing so, the present paper has been designed to provide a new conceptualization of travellers’ shifting preferences in terms of the selection of holiday destinations through the new concept of tourophobia and to classify this as a new type of tourist behaviour.

The present study uses a literature review as a qualitative deductive content analysis of 58 field studies published by major hospitality and tourism journals. By using a deductive content analysis approach, the current paper is designed to delineate tourist behaviour through a generic review of relevant literature detailing travellers’ preferences in times of crisis.

The developed concept of tourophobia and the suggested model, which proposes two possible scenarios, shows that traveller behaviour is heterogeneous in terms of the destination selection process; this finding is based on a content analysis of the articles chosen. Further, by using the developed model, the decline in travel and tourism can also be explained by an increase in what is termed in this paper “tourophobia”, which results from the various devastating effects of crises.

The proposed model is expected to help destination managers and marketers to segment and forecast the future market demand of tourist travel preferences, thereby enabling them to form effective marketing strategies and increase their responsiveness during difficult times. Only articles from hospitality and tourism journals were subjected to content analysis; this is a major limitation of the study.

The present research contributes to current knowledge by describing the concept of tourophobia as a tourist behaviour in times of crisis. As an emerging phenomenon, it is also introduced as being one criterion for the selection of destinations and, therefore, is regarded as a driver for tourist behaviour, thus generating the originality of the paper. This study strives to provide a new direction for future studies on tourist behaviour, rather than offering new empirical data.

本文旨在研究在人为和自然灾害的危机事件中, 危机是如何影响旅游者的整体行为和旅游偏好的。在此过程中, 本论文旨在通过旅游恐惧症的概念, 对旅游者在选择度假目的地方面的偏好变化提供一个新的概念化过程, 并将其归类为一种新的旅游行为类型。

本研究采用文献回顾的方法, 对发表在主流酒店和旅游学术期刊上的58个实地研究进行定性演绎分析。本文运用演绎内容分析法, 通过对危机时期旅游者偏好的相关文献的综述, 勾勒出旅游者的行为特征。

旅游恐惧症的发展概念和假设模型提出了两种可能的情况, 表明旅行者的行为在目的地选择过程中是异质的；这一发现是基于对所选文章的内容分析。此外, 通过使用已开发的模型, 旅游业和旅游业的衰退也可以用本文所称的“旅游恐惧症”的增加来解释, 这是由危机的各种破坏性影响造成的。

该模型有望帮助旅游目的地管理者和营销者对旅游偏好的未来市场需求进行细分和预测, 从而形成有效的营销策略, 增强他们在困难时期的反应能力。本文的一个主要局限是, 仅对酒店和旅游期刊的文章进行了内容分析。

本研究通过将旅游恐惧症的概念描述为危机时期的一种旅游行为, 为当前的知识做出了贡献。旅游恐惧症作为一种新出现的现象, 也是旅游目的地选择的一个标准, 因此它被认为是旅游行为的驱动因素, 从而体现了本文的独创性。本研究旨在为未来的旅游行为研究提供一个新的方向, 而不是提供新的实证数据。

El objetivo del presente documento es examinar cómo las crisis impactan el comportamiento turístico general y las preferencias de viaje en tiempos de crisis, relacionadas con desastres naturales, así como, provocadas por el hombre. Al hacerlo, el presente documento ha sido diseñado para proporcionar una nueva conceptualización de las preferencias cambiantes de los viajeros en términos de la selección de destinos de vacaciones a través del nuevo concepto de “tourophobia”, y para clasificar esto como un nuevo tipo de comportamiento turístico.

El presente estudio emplea una revisión de la literatura basado en un análisis de contenido deductivo cualitativo de 58 estudios de campo publicados por las principales revistas de hotelería y turismo. Al utilizar un enfoque de análisis de contenido deductivo, el documento actual está diseñado para delinear el comportamiento turístico a través de una revisión genérica de literatura relevante que detalla las preferencias de los viajeros en tiempos de crisis.

El concepto desarrollado de “tourophobia” y el modelo sugerido, que propone dos escenarios posibles, muestra que el comportamiento del viajero es heterogéneo en términos del proceso de selección del destino; Este hallazgo se basa en un análisis de contenido de los artículos elegidos. Además, mediante el uso del modelo desarrollado, la disminución de los viajes y el turismo también puede explicarse por un aumento en lo que se denomina en este documento “tourophobia”, que resulta de los diversos efectos devastadores de las crisis.

Se espera que el modelo propuesto ayude a los directores de planificación turística de destinos, así como a los de marketing a segmentar y pronosticar la demanda futura del mercado con respecto a las preferencias de viajes turísticos, lo que les permite formar estrategias de marketing efectivas y aumentar su capacidad de respuesta en tiempos difíciles. Solo los artículos de revistas de hotelería y turismo fueron sometidas al análisis de contenido; ésta constituye una limitación importante del estudio.

La presente investigación contribuye al conocimiento actual al describir el concepto de “tourophobia” como un comportamiento turístico en tiempos de crisis. Como fenómeno emergente, también se presenta como un criterio para la selección de destinos y, por lo tanto, se considera un motor del comportamiento turístico, generando así la originalidad del documento. Este estudio se esfuerza por proporcionar una nueva dirección para futuros estudios sobre el comportamiento turístico, en lugar de ofrecer nuevos datos empíricos.

The purpose of this paper is to present the formulation of the first exhaustive price index for Argentinian (and other Latin American countries) visual artists using 5,069 works sold in auctions by 71 Argentinian artists during the years 1980-2014.

The authors estimated a regression of hedonic prices using the ordinary least squares method. When the regression was run and the results were analysed, the authors then estimated the annual price index of Argentinian artists’ work to then compare them with different financial and economic variables.

The average annual nominal arithmetic rate of return in dollars for Argentinian art during this period was 6.81 per cent, with a 29.11 per cent standard deviation. Argentinian art shows a low correlation with Argentinian and US companies’ shares and a slightly negative correlation with US bonds. This is the reason for artworks to be included in investors’ portfolios despite the relatively high volatility.

Valuating works of art in Argentina can be explained by a series of their attributes. The benefits of art as an investment should be contrasted with factors including illiquidity and high transaction costs that are inherent when investing in works of art.

Argentinian artists’ works have higher prices when, ceteris paribus, they are dated; they are auctioned in either Christie’s, Sotheby’s, Galería Arroyo, Roldan & Cia, Meeting Art, or Naon & Cia; they are oil or acrylic paintings; they are larger in size – although the price increase is decreasing when the size of the painting increases; and when the artist dies before their work is auctioned.

This work presents the first rigorous price index of Argentinian artists’ works. Additionally, and as far as the authors have been able to observe, the time-period in this article is the longest that has been used in studies on art as an investment in emerging markets.

Este trabajo presenta la elaboración del primer índice exhaustivo de precios de artistas plásticos de Argentina (y de cualquier otro país de Latino América) a partir de 5.069 ventas de obras de 71 artistas argentinos realizadas en subastas durante el período 1980-2014.

Se estimó una regresión de precios hedónica por el Método de Mínimos Cuadrados Ordinarios. Una vez corrida la regresión y analizados sus resultados, se procedió a estimar el índice anual de precios de obras de artistas argentinos, para posteriormente relacionarlos con diversas variables financieras y económicas.

El rendimiento promedio aritmético nominal anual en dólares del arte argentino durante ese período fue de 6,81% con una desviación estándar de 29,11%. El arte argentino exhibe una baja correlación con las acciones de empresas argentinas y de EEUU y ligeramente negativa con bonos de EEUU, lo cual le confiere atributos para ser incluido en las carteras de los inversionistas, a pesar de la elevada volatilidad.

Se consigue que la valoración de arte en Argentina puede ser explicada por una serie de atributos de las obras de arte. Los beneficios del arte como inversión deben ser evaluados con la iliquidez y los elevados costos de transacción, entre otros costos, inherentes a la inversión en obras de arte.

Las obras de artistas argentinos tienen precios más altos cuando, ceteris paribus: están fechadas, se subastan en Christie's, en Sotheby's o en Galería Arroyo, son ejecutadas en óleo o en acrílico, tienen un mayor área, aunque el aumento de precio es decreciente al aumentar el área, y cuando el artista ya había fallecido al momento de celebrase la subasta.

Este trabajo propone el primer índice riguroso de precios de obras de artistas de Argentina. Además, y hasta donde hemos podido comprobar, el período utilizado en este trabajo es el más largo que se haya empleado en estudios del arte como inversión en mercados emergentes.

Climate-related disasters are the most representative in terms of recurrence and impacts. To reduce them, risk transfer is a key strategy for climate risk management. However, this approach does not consider the socioeconomic vulnerability of each population group, limiting its effectiveness. The objective of this paper is to improve and increase the usefulness of risk transfer through the Differential Risk Transfer (DRT) approach.

A comprehensive and systematic review of the state of the art on Differential Approach (DA) is presented, and its connection with existing models of vulnerability to disasters is analysed. Through epistemic deliberations, an operational definition of Differential Risk Transfer (DRT), as well as its advantages are discussed. Finally, general guidelines are presented for the implementation of the DRT in a specific context.

The results confirm that DA presents a clear relation with the models for the study of disaster vulnerability. The small group discussions agree with the usefulness of DRT for improving climate-related risk management.

This paper argues for the inclusion of the DRT approach in the climate risk management strategies aiming to fill the disaggregated data gaps that limit the potentiality and accuracy of risk transfer schemes worldwide.

This innovative approach improves the accuracy of the risk transfer mechanisms through the recognition of the differences of ethnicity, gender and life cycle that increase socioeconomic vulnerability to climate-related disasters.