To the average Joe, Swann’s economic equation translates to being “a cycle of consumption inspired by the socio-economic mix of the resort’s visitors.”
Basing his research on Bath, a British city famed for its Roman baths and spas, Swann chartered the rise, fall and renaissance since its heyday in during the 18th century.
After a monarch visited the baths between 1702 and 1703, Bath became the ‘must-visit’ location among high society. The spa city’s rise in popularity led to its demise as the spas became “invaded by the mob” and developed “a tone of mediocrity” noted a local historian at the time.
Its popularity among the upper classes continued to nosedive until the 1930s before a reversal of fortunes halted further decline when it named a World Heritage Site in 1987.
According to Swann, this cycle can explain the state of many British seaside resorts.
“This is all about waves of consumption. Some holidaymakers seek resorts where they can be with chosen friends or peer groups, while others seek to keep away from the masses,” says the professor of Industrial Economics.
“A third group seek holidays where they brush with the rich and famous – but the rich and famous may in turn wish to move away from them. These patterns of distinction and association make for an interesting dynamic, and one possible outcome is the cyclical popularity of resorts.
“A resort starts off as distinctive and select and holds this status for some years, but as it grows in popularity it may begin to go downmarket.
“At that stage it may start to seem vulgar in the eyes of the pioneers, who move on elsewhere. The resort is then doomed to decline.
“It’s only when it has been unfashionable for many years and its unattractive associations have been forgotten that it may enjoy a renaissance.”
BI Norwegian School of Management receives EQUIS accreditation
BI Norwegian School of Management has become the first school in Norway to receive the EQUIS international accreditation. Commenting on the award Tom Colbjørnsen, President of BI Norwegian School of Management said:
“We have improved the quality of our master programmes, extended our portfolio of executive programmes and strengthened our international collaboration on research and education. These efforts are now being recognized. This is a boost to carry on our work.”