The assessment of risk tolerance of Hungarian travellers towards abroad trips
Abstract
This study identified and examined significant factors affecting the risk tolerance of Hungarian travellers towards abroad trips. Data for the empirical research was derived from an online survey. The final questionnaire included 45 statements describing aspects of travel safety and travel preferences. There was a total of 496 responses, which enabled them to be analyzed. A structural equation modeling (SEM) approach was used to develop the model of risk tolerance assessment. As a result of the study, physical security, price sensitivity, mood-driven factor, and destination's image in the media may be considered as substitutes for determining travellers' risk tolerance. This research contributes to the body of knowledge by supporting the proposition that inner personality traits and image factors may influence tourism preferences, suggesting future studies should use a multivariate approach to explain and predict tourism choices. Tourism managers and private companies operating in this sector can find the results of this study very helpful in planning and promoting tourism to risky destinations.
Keyword : perceived risk, risky destinations, mood-driven, image in the media, price sensitivity, travellers' risk tolerance
How to Cite
Solyomfi, A. H., Skačkauskienė, I., Borisov, I., & Vinogradov, S. (2024). The assessment of risk tolerance of Hungarian travellers towards abroad trips. Journal of Business Economics and Management, 25(1), 104–128. https://doi.org/10.3846/jbem.2024.20459
This work is licensed under a Creative Commons Attribution 4.0 International License.
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Fuchs, G., & Reichel, A. (2011). An exploratory inquiry into destination risk perceptions and risk reduction strategies of first time vs. repeat visitors to a highly volatile destination. Tourism Management, 32, 266–276.
Garamvölgyi, J., & Rudnák, I. (2016). Cultural Intelligence: Key influences. Social Space = Przestrzen Spoleczna, 2, 1–19.
Gozgor, G., Lau, C. K. M., Zeng, Y., & Lin, Z. (2019). The effectiveness of the legal system and inbound tourism. Annals of Tourism Research, 76, 24–35. https://doi.org/10.1016/j.annals.2019.03.003
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Hottola, P. (2004). Culture confusion: Intercultural adaptation in tourism. Annals of Tourism Research, 31(2), 447–466. https://doi.org/10.1016/j.annals.2004.01.003
Imbeah, N., Khademi-Vidra, A., & Bujdoso, Z. (2020). Assessment of tourists’ perceptions on safety at the cape coast tourist destination in Ghana. GeoJournal of Tourism and Geosites, 28(1), 217–231. https://doi.org/10.30892/gtg.28117-464
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Karl, M., & Schmude, J. (2017). Understanding the role of risk (perception) in destination choice: A literature review and synthesis. Tourism Review, 65(2), 138–155.
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Kiyak, D., & Labanauskaite, D. (2020). Opportunities of the crm concept in creating process of a value-based tourism product. Vadyba / Journal of Management, 36(1), 77–83. https://doi.org/10.38104/vadyba.2020.10
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