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Tourism Management Perspectives 27 (2018) 83–90
Contents lists available at ScienceDirect
Tourism Management Perspectives
journal homepage: /locate/tmp
Experience economy in the hospitality and tourism context T
Seohee Chang⁎
Sookmyung Womens University, South Korea
A R T I C L E I N F O A B S T R A C T
Keywords: Experienced utility is an instantly perceived hedonic quality. Rooted in the idea of experienced utility, experi-
Experienced utility ence economy assumes that increased consumer experienced utility raises industry revenue. Previous studies
Experience economy have not explored the financial values identified with experiences as the main point of experience economy. The
Product economy aim of this study was to explore the financial values of experience and service that hospitality and tourism
Service economy
customers perceive. A total of 182 hospitality and tourism customer responses were analyzed using content
Hedonic values
analysis, cross-tabulations, t-test, and ANOVA. The results revealed that the perceptual schema of product
economy is clearer than that of experience economy; the monetary value of experience is lower than that of
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