Tourism Development in a Wellbeing Economy

Abstract

As measures of wellbeing have matured, wellbeing-related outcomes have become increasingly relevant as inputs to policy-making, with increasing numbers of countries using wellbeing metrics to guide decision-making and inform government budgetary processes that support sustainable development. The concept of the wellbeing economy (WBE) is gaining traction as a serious alternative to ‘business as usual’ in industrial development and may be expected to have increasing relevance in tourism planning, policy development, and assessment. The paper addresses the nature of the WBE, what it is, and what it is expected to achieve for both public- and private-sector stakeholders. The implications for tourism policy, destination development and tourism operations are discussed. Several types of barriers to participation by the tourism industry in the WBE agenda are identified. The final section outlines a future agenda for tourism research and sustainable development based on a wellbeing-informed approach.