Operationalises perceived value for tourism purchases as a five-dimensional construct. Functional value of service quality captures the travel agent or provider's reliability and competence; functional package quality captures the tangible quality of the tourism product itself (accommodation, transport, excursions); functional price captures the economic value-for-money assessment; Emotional value captures the pleasurable feelings generated by the tourism experience; Social value captures how the travel choice enhances social image and signals status to reference groups. The GLOVAL model demonstrates that emotional and social value dimensions have direct and substantial effects on tourist satisfaction and loyalty independent of functional value.
Sanchez, J., Callarisa, L., Rodriguez, R.M., & Moliner, M.A. (2006). Perceived value of the purchase of a tourism product. Tourism Management, 27(3), 394–409.
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