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Abstract:
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This paper discusses the concept of the experience economy in a Nordic context and shows
how the Nordic version of the concept has come about from a mix of three different
approaches and theories. Besides, the Nordic definition links the experience economy closely
with cultural activities. In the Nordic countries the experience economy has been developed
in a political context and it is apparently a popular development policy for local government
authorities and regions. This paper discusses the Nordic definition of experience economy
and questions if it makes any sense. The definition of experiences is not clear, and the
definition of the word “economy” has different interpretations as well. In a narrow
interpretation the term economy is related to market economic value, which is used in the
political terminology. The paper shows that the experience economy can follow three
different routes to market value creation, and how the growth opportunities for the different
experience areas will depend on three different trends. Therefore, it can be shown that only
some experience areas are growing, and the market value creation occurs in very different
ways and to very different extents within, and in relation to, the different experience areas.
The greatest growth potential resides probably in the broad value creation in association with
the experience areas. But the experience economy does not lend itself to any consistent
definition. |
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