Entrepreneurial ecosystem in crisis– Icelandic tourism in times of COVID-19

Halldórsdóttir, Íris, Johannisson, Gunnar and Walmsley, Andreas (2024) Entrepreneurial ecosystem in crisis– Icelandic tourism in times of COVID-19. In: Tourism Entrepreneurship: Knowledge and Challenges for a Sustainable Future. Sustainable Development Goals Series (SDGS) . Palgrave Macmillan, pp. 127-146. ISBN 978-3-031-61248-0

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Abstract

While the tourism sector is acknowledged for its susceptibility to crises, policymakers have long perceived it as a catalyst for regional development in rural economies. Therefore, resilience and adaptability in a crisis situation may be regarded as essential for fostering sustainable tourism development. This chapter explores the Entrepreneurial Ecosystem's role in contributing to tourism firms’ resilience during a crisis, and thereby, by implication how it may support sustainable tourism development. Data were collected in 2021 during the COVID-19 pandemic via semi structured interviews and focus groups with Icelandic tourism managers, owners, sector support professionals, and local administration representatives. The study offers the first application of the entrepreneurial ecosystem concept to tourism development in times of crisis. The analysis underscores the government's crucial role in averting business failures during the crisis, serving as a safety net, raising its status from a framework condition to a systemic condition. Paradoxically perhaps, the crisis stimulated innovation and entrepreneurship, prompting firms to collaborate and augmenting tourism firms’ resilience. The analysis also reveals the vital role of networks, not only in knowledge transfer but also in providing essential psychosocial support, creating a supportive community for struggling entrepreneurs.

Item Type:	Book Section
Keywords:	Entrepreneurial Ecosystem, Tourism, Iceland, crisis, COVID-19, resilience
Depositing User:	Ms Raisa Burton
Date Deposited:	09 Feb 2024 13:37
Last Modified:	14 Aug 2024 09:36
URI:	https://marjon.repository.guildhe.ac.uk/id/eprint/17796

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