obvious and undeniable conclusion that both hotels and agencies are unaware of their clients' behaviour regarding the matter under study, as the tourists' answers clearly showed an unequivocal willingness to pay for an arbitration procedure, assuming its benefts, while the majority of the hotels and agencies believe that the said tourists would not pay for it. 5. CONCLUSIONS In conclusion, it can be said that the incorporation of the attribute "submission of the dispute to arbitration" in the product placed on the market is something that the demand appreciates and values and is even willing to pay for it about 1% of the total price of the trip purchased. This fact, associated with the representation that the same demand makes of a possible situation that requires the use of a court to be solved, where 97% of respondents answered they do not think it is possible to have such a problem, allows us to say that the results obtained identify a gap hitherto unknown and that can be exploited by the ofer to maximize its results. Thus, and by way of a fnal conclusion, we would say that not only do tourism organisations beneft, in terms of performance and competitiveness, from voluntary adherence to institutional systems of international arbitration, constituting a competitive advantage, but also because both tourism demand and supply are willing to pay for arbitration proceedings, without the supply side being aware of it, and even if tourism organisations have to put their goods/services on the market at a marginally higher cost because of their adherence to an institutionalised international arbitration system, they still beneft, by that fact, from a higher performance and competitiveness, proving that tourism companies can increase the price of their product on the basis of their adherence to an institutionalised international arbitration system and thus increase their profts, since the probability of a dispute occurring will always be very low. BIBLIOGRAPHY Adegbesan, J. A. (2009), On the origins of competitive advantage: strategic factor markets and heterogeneous resource complementary, Academy of Management Review, 34(3), 463-475 Ansof, H. I. (1965), Corporate strategy:an analytic approach to business policy for growth and expansion. New York, McGraw-Hill Critique of Henry Mintzberg's The Design School: Reconstructing the Basic Premises of Strategic Management. Strategic Management Journal, Vol 12 (6), 449-461 Ascensão, J. O., O Direito, Introdução e Teoria Geral, Almedina, Coimbra, 2004. Barney, J. B., (1986), Organizational Culture: Can It be a Source of Sustained Competitive Advantage? Academy of Management Review; Barney, J. B.; Hesterly, W. S. (2007), Strategic Management and Competitive Advantage. São Paulo: Pearson Prentice Hall. Barrocas, M. P. (2010), Manual de Arbitragem, Almedina, Coimbra, 2010 Barrocas, M. P. (2015), A Razão Por Que Não são à Arbitragem nem os 19
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