(Re)center business in destinations:

the perspective of tourism entrepreneurs in the center of Portugal after COVID-19

Abstract

After COVID-19, local and regional stakeholders need to generate conditions that will enable them to assert themselves in a climate of insecurity. The pandemic has triggered new paradigms of competitiveness, which drive various stakeholders linked to tourist destinations to stimulate business activity, supporting their economic viability. The key issue focuses not only on appeal to tourists, but also on attracting residents and businesses. Attracting innovative businesses involves knowing the motivations of entrepreneurs and what attributes they value in tourist destinations, which drives them to invest. To answer this objective, we developed a cross-sectional study, of exploratory nature, through a self-administered survey by questionnaire, addressed to entrepreneurs in the Central Region of Portugal. Data were collected between January and May 2021, obtaining 138 responses. The questionnaire was submitted to reliability, and validation analyses and to principal component analysis (PCA). Matrices of variance and covariance (MANOVA) were analysed, aiming to test differences in responses between groups. The results suggest that 'Resources' and the 'Territorial brand' are determining factors in the investment of new businesses or the development of existing ones. In addition, conditions that influence the entrepreneurial initiative include the match between the entrepreneur's objectives and the characteristics of the territory, particularly the link between this and the identity of the region.