The study results have shown that the September event caused a significant
decrease in tourists’ utility for those deciding upon travel plans
for a set of Mediterranean destinations and the Canary Islands. This decrease
in utility might be related to the lower benefits that the activity
of tourism generated to the individual after the terror shock, and can
be explained because of the state of anxiety surrounding the tourism
industry. It has been estimated in monetary terms that about 25% of
decline in willingness to pay for an average package occurred across
the various destinations. The major impact on utility was accompanied
by a change in the structure of consumer preferences towards the quality
attributes of the tourism product, with a relative increase in the willingness
to pay for the accommodation services and the quality of the
urban environment in relation to the other attributes. Thus, major terrorist
shocks are likely to affect both the decision to travel and one’s
preferences for the attributes of the tourism product.