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Economic Analysis of Tourism Consumption Dynamics: A Time-varying Parameter Demand System Approach

Wu, DC, Li, G and Song, H (2012) Economic Analysis of Tourism Consumption Dynamics: A Time-varying Parameter Demand System Approach Annals of Tourism Research, 39 (2). pp. 667-685.

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Abstract

This study considers the dynamics of the consumption behaviour of tourists from an economic perspective. The evolution of various demand elasticities is explored using a time-varying parameter almost ideal demand system model. The top four source markets for tourism in Hong Kong are examined, and three major tourist expenditure categories, including shopping, hotel accommodation and meals outside hotels, are investigated for each market. Elasticity analysis reveals different consumption trends and patterns across the source markets. The findings will serve as a useful reference for Hong Kong tourism-related industries and the government in their efforts to enhance the competitiveness of Hong Kong as an international tourism destination.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > School of Hospitality and Tourism Management
Authors :
AuthorsEmailORCID
Wu, DCUNSPECIFIEDUNSPECIFIED
Li, GUNSPECIFIEDUNSPECIFIED
Song, HUNSPECIFIEDUNSPECIFIED
Date : 19 April 2012
Identification Number : 10.1016/j.annals.2011.09.003
Additional Information : NOTICE: this is the author’s version of a work that was accepted for publication in Annals of Tourism Research. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Annals of Tourism Research, 39(2), april 2012, DOI 10.1016/j.annals.2011.09.003.
Depositing User : Symplectic Elements
Date Deposited : 26 Nov 2014 15:28
Last Modified : 27 Nov 2014 02:33
URI: http://epubs.surrey.ac.uk/id/eprint/806655

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