Driving factors to competitive sustainability of SMEs in the tourism sector: An introspective analysis

Business Opportunities and Drivers for Health and Spa Tourism: A Qualitative Research on Baile Felix Spa Resort, Romania

“…Professional knowledge gained through experience in executive and managerial positions and the network created in running specific businesses and engaging with local government and the public sector coupled with various entrepreneurial skills [18,52,53] are valuable assets to be used when recruiting individuals for various industries. It is implicitly suggested that these factors are potentially stronger than high levels of formal education in tourism or international corporate expertise isolated from everyday challenges [12,54].…”

“…Beyond the identification and exploitation of opportunities, numerous authors highlight additional factors for motivating the launch, development, and consolidation of tourism businesses [18,77,78] as follows:…”

“…-Concern for tourist contentment (satisfaction, prompt and innovative services, employee behavior, cleanliness) not only generates income but also stimulates the return of tourists [79], involves local communities and stakeholders [80], and provides a solid foundation for long-term development, competitiveness, and sustainability in the tourism business [18]; -Pricing policies (motivating tourists' destination choices amid competing offers and brands) affecting long-term competitiveness [81,82]; -Openness to technology, either to counter competition (domestic or international) [83,84] for business growth and diversification, influencing tourists' destination choices [85], leveraging technology, such as effective websites, user-friendly applications, and a strong presence on social media [86][87][88], enhancing products and destination promotion, improving tourists' perception but also "generating impactful information" [89], positively influencing the sustainability and competitiveness of tourism services, encouraging responsible environmental behavior, and interacting with stakeholders; -Being in line with trends, policies, and regulations, especially those related to environmental protection [90], cultural heritage preservation, and revitalization [91].…”

“…Tourism is an industry with relatively low entry barriers and regulations [8][9][10], requiring moderate skill levels, technological permeability, and innovation [11][12][13][14], which makes researchers and practitioners agree that it is an ideal field for small-and medium-sized enterprises (SMEs) and various entrepreneurial initiatives [15][16][17]. Additionally, generating employment tourism businesses also exploit regional and local resources, emerging as "major contributors to economic transformation in developing economies" [18] (p. 1).…”

“…Despite facing substantial challenges, such as the economy, pandemics, or political crises, the tourism sector has witnessed various opportunities and high growth rates in recent decades, resulting in a diverse range of businesses in this sector [1,3], varying in size, market power, ownership, sub-sectors, endowment, and innovation levels [9][10][11][12][13]15,17,18]. Researchers emphasize the orientation of large companies towards innovation development and implementation [19,20], while small (family) businesses combine their personal goals with community involvement, considering local specificities [21][22][23].…”