Cittaslow & fast-growing SMEs: Evidence from Europe

It is stressed in the literature that territorial certification critically influences tourist destination competitiveness; however, it remains unclear as to how they influence local Small Medium Enterprises (SMEs) value creation. The research contributes to the literature by testing the relationship between territorial certifications and SMEs value creation. Based on literature review, a research model and hypotheses has been developed. The study used a quantitative analysis based on a sample composed of 1148 SMEs from 128 cities (members of the Cittaslow Association) in 15 European countries. The results highlight the direct relationship between territorial certification and SME performance in terms of both annual sales growth and positive financial performance. However, findings show that the impact of territorial certification on local SMEs enables more rapid results in terms of financial performance as opposed to annual sales growth. The implications for management and local government, considerations for future research, and the limitations of the study are also provided.