Analyzing Tourist Consumption: A Dynamic System-of-Equations Approach
Wu, DC, Li, G and Song, H (2011) Analyzing Tourist Consumption: A Dynamic System-of-Equations Approach Journal of Travel Research, 50 (1). 46 - 56. ISSN 0047-2875
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The dynamic system-of-equations approach has been used to analyze the demand for outbound tourism among a number of destinations. However, this approach has not been applied to the context of the tourist consumption of different products in a given destination. Given the importance of understanding tourists' consumption behavior to destination management, this study seeks to gain new insights into Hong Kong inbound tourist expenditure patterns using a dynamic system-of-equations approach: the almost ideal demand system model. Based on the estimation of a complete demand system, this study investigates the interactions among the demand for different tourism products (i.e., shopping, hotel accommodation, meals outside hotels, and other) and the impacts of price changes on demand. Tourists from different source markets are examined separately, and the results show that their consumption behavior differs significantly.
|Additional Information:||Published in Journal of Travel Research, 50(1) 2011. Copyright 2011 Sage Publications.|
|Uncontrolled Keywords:||tourism demand, almost ideal demand system, dynamics, elasticity analysis, IDEAL DEMAND SYSTEM, COINTEGRATION, HOMOGENEITY, INDEX, MODEL|
|Divisions:||Faculty of Business, Economics and Law > Hospitality and Tourism Management|
|Depositing User:||Symplectic Elements|
|Date Deposited:||26 Jul 2012 10:33|
|Last Modified:||23 Sep 2013 18:49|
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