What is Smart Specialization

Halkidiki is a district embedded in Central Macedonia, Greece where tourism has been the most significant pillar of development; however, the sharply declining economic performance of the recent years, clearly indicates the need for structural changes and the development of an ambitious long term regional strategy plan, in order to face economic challenges, explore new market opportunities and robust the existing regional competitive advantages. The purpose of the chapter is to introduce smart tourism development model, which is based on three distinctive development tools: 1) Smart Specialization Strategy Methodology, as the pillar to determine and support specific priorities; 2) Quality Policies, as a pillar of stakeholders commitment to provide superior quality products and services, mostly though Local Quality Agreements; and 3) Social economy entrepreneurship, as the third pillar upon which local population and social entities will be engaged and involved. Smart tourism development model aims to establish a new tourism development perception, closely linked to the existing local market opportunities and simultaneously contributing to the enhancement of the competitive advantages of as many as possible of the other sectors of the regional economy.