Defining the strategic impact-relation map for the innovative investments based on IT2 Fuzzy DEMATEL: Evidence from the European Tourism Sector

Abstract

The purpose of the study is to construct the strategic impact-relation map for the innovative tourism investments. For this aim, a set of the criteria defining the innovative investment alternatives in the tourism industry is proposed for determining the possible impact and relationship between each other. Interval Type 2 DEMATEL method is applied to analyze the strategic priorities of the innovative investments and their influencing degrees in the European tourism industry. The findings show that luxury travel is the most important innovative tourism investment. Another important conclusion is that there is no influencing factor on making investment on educational visitors and medical services. On the other side, investment in shopping facilities and luxury travel influenced by all criteria. Hence, it is recommended that European tourism companies should mainly create new trends on the luxury consumption in order to improve tourism industry to contribute economic development.