Stakeholder theory and the sustainable recovery of the tourism sector
Stakeholder theory has been applied in the traditional disciplines of business such as strategic management and business ethics, however, the application of stakeholder theory in the tourism sector has been scarce. This article presents an explanation of descriptive, normative and instrumental stakeholder theory, putting emphasis on this last one. Then, it presents the application of stakeholder theory to the tourism sector. It is affirmed that the principles of instrumental stakeholder theory are capable of creating competitive advantage, as well as, social welfare. In order to attain both, stakeholder work needs to be performed and stakeholder engagement needs to be undertaken. It is believed that the principles of instrumental stakeholder theory might be very helpful for the recovery of the sector after the COVID-19 pandemic.