ABSTRACT

Typically, economists speak of goods and services as the basic offerings in an economy. Businesses sell goods or they sell services. Economists see consumer experiences around a product and service as essentially a by-product or a form of service itself. However, there is an argument for a business model that treats “experience” as an offering as real, separate, and distinct from any good or service, the growing trend of which is giving rise to what is now referred to as “The Experience Economy”. This chapter examines the concept of the experience economy and uses, as a case study, the Atlantis Resort in The Commonwealth of The Bahamas. Against the backdrop of the multi-billion-dollar Atlantis Resort, this chapter will explore the theoretical framework of the Experience Economy, its evolution over time, its relevance in today’s economic environment, and the lessons it provides for future development of the most important sector in the economy of The Bahamas-Tourism.