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The Nordic approach to the Experience Economy - Does it make sense?

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This paper discusses the concept of the experience economy in a Nordic context and showshow the Nordic version of the concept has come about from a mix of three differentapproaches and theories. Besides, the Nordic definition links the experience economy closelywith cultural activities. In the Nordic countries the experience economy has been developedin a political context and it is apparently a popular development policy for local governmentauthorities and regions. This paper discusses the Nordic definition of experience economyand questions if it makes any sense. The definition of experiences is not clear, and thedefinition of the word “economy” has different interpretations as well. In a narrowinterpretation the term economy is related to market economic value, which is used in thepolitical terminology. The paper shows that the experience economy can follow threedifferent routes to market value creation, and how the growth opportunities for the differentexperience areas will depend on three different trends. Therefore, it can be shown that onlysome experience areas are growing, and the market value creation occurs in very differentways 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 withthe experience areas. But the experience economy does not lend itself to any consistentdefinition.

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Trine Bille

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