Innovative Business Models for Cultural Tourism: Advancing Development in Peripheral Locations

The aim of this chapter is to describe and discuss the potentials for developing new, alternative business models for cultural tourism. This chapter begins with a short presentation of the business model concept, where we particularly focus on the booming literature on new and alternative business architectures, which combine economic goals with social, and/or environmental concerns. Moreover, we stress how the contractual arrangement tying the stakeholders together is an overlooked factor in explaining business model innovation. A case example subsequently illustrates how new forms of contracting and financing mechanisms can potentially promote tourism and local development in Granada.