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The risk structure of Portuguese tourism industry subsectors: a PLS-SEM approach
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Resumo(s)
This paper examines risk factors that affect the Portuguese tourism industry subsectors, namely, travel agencies and tour operators, leisure and recreation activities, and tourism events firms. Additionally, it also assesses the effect of these risks on strategic and operational responses in the tourism subsectors mediated by a mitigation dimension. In terms of methodology, we used exploratory factor analysis (EFA) on data collected from 416 questionnaires distributed across the three tourism subsectors complemented by a Multigroup Analysis (MGA) via partial least squares structural equations modeling (PLS-SEM). The exploratory factor analysis confirmed distinct risk categories, including organizational, environmental, competitive, economic, political, infrastructure-related, circumstantial, business deficiencies, and specific (local) risks. Results documented the different risk impacts of risks on strategic and operational responses for tourism subsectors. While mitigation efforts do not significantly differ in their overall effects across subsectors, differences emerge in their direct effects. Concerning practical implications, this research provides insights for stakeholders in the tourism industry, supporting them with the knowledge to proactively understand, anticipate, and manage any risks in their operations, essential for boosting the resilience and competitive edge of the tourism subsectors in a global environment shrouded by uncertainty.
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Palavras-chave
Risk Tourism subsectors SEM