Experience economy concept in the development of tourism and hospitality

The aspects of experience economy which were identified, studied and described by B. Joseph Pine II and James H. Gilmore are widely employed by service providers in a range of activities. Experiences do not only accompany the conventional product, but are themselves gaining the status of a product offered and consumed. Experiences are also increasing viewed as intrinsic to marketing and prerequisite for communication, certain managerial decisions and service provision. Therefore, decisions concerning a targeted effort at consumer experience creation will affect a company's service activity system and sustained development. The author of the article identifies the application areas of the conceptual aspects of experience economy in the process of tourist and service enterprise development.