Modeling tourism demand: A dynamic linear AIDS approach
Li, G, Song, H and Witt, SF (2004) Modeling tourism demand: A dynamic linear AIDS approach Journal of Travel Research, 43 (2). 141 - 150. ISSN 0047-2875
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Official URL: http://dx.doi.org/10.1177/0047287504268235
The linear almost ideal demand system (LAIDS), in both static and dynamic forms, is examined in the context of international tourism demand. The superiority of the dynamic error correction LAIDS compared to its static counterpart is demonstrated in terms of both the acceptability of theoretical restrictions and forecasting accuracy, using a data set on the expenditure of United Kingdom tourists in twenty-two Western European countries. Both long-run and short-run demand elasticites are calculated. The expenditure elasticities show that travelling to most major destinations in Western Europe appears to be a luxury for UK tourists in the long run. The demand for travel to these destinations by UK tourists is also likely to be more price elastic in the long run than in the short run. The calculated cross-price elasticites suggest that the substitution/complementarity effects vary from destination to destination.
|Additional Information:||Published in Journal of Travel Research, 43 (2) 2004. Copyright 2008 Sage Publications.|
|Divisions:||Faculty of Business, Economics and Law > Hospitality and Tourism Management|
|Deposited By:||Mr Adam Field|
|Deposited On:||03 Feb 2012 10:42|
|Last Modified:||14 Mar 2013 11:00|
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