Analyzing Tourist Consumption: A Dynamic System-of-Equations Approach
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...
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| Published in | Journal of travel research Vol. 50; no. 1; pp. 46 - 56 |
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| Main Authors | , , |
| Format | Journal Article |
| Language | English |
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SAGE Publications
01.01.2011
SAGE PUBLICATIONS, INC |
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| Abstract | 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. |
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| AbstractList | 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. 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. [PUBLICATION ABSTRACT] |
| Author | Chenguang Wu, Doris Haiyan Song Gang Li |
| Author_xml | – sequence: 1 givenname: Doris surname: Chenguang Wu fullname: Chenguang Wu, Doris organization: The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong SAR – sequence: 2 surname: Gang Li fullname: Gang Li organization: University of Surrey, Guildford, United Kingdom – sequence: 3 surname: Haiyan Song fullname: Haiyan Song organization: , |
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| CitedBy_id | crossref_primary_10_1016_j_tourman_2014_07_001 crossref_primary_10_1080_10941665_2012_739189 crossref_primary_10_1016_j_annals_2011_09_003 crossref_primary_10_1080_13683500_2015_1062472 crossref_primary_10_1108_IHR_10_2022_0042 crossref_primary_10_1016_j_tourman_2014_03_018 crossref_primary_10_1016_j_econmod_2018_11_006 crossref_primary_10_1016_j_annals_2018_06_005 crossref_primary_10_14783_maruoneri_815611 crossref_primary_10_1007_s11116_020_10083_2 crossref_primary_10_5367_te_2014_0434 crossref_primary_10_1086_723729 crossref_primary_10_1080_10548408_2014_986009 crossref_primary_10_1111_agec_12609 crossref_primary_10_1177_0047287514528283 crossref_primary_10_1016_j_annals_2012_05_023 crossref_primary_10_1177_0047287518759226 crossref_primary_10_1016_j_jdmm_2018_12_001 crossref_primary_10_1016_j_tourman_2012_11_019 crossref_primary_10_1080_19388160_2018_1518178 |
| Cites_doi | 10.1016/0165-1765(81)90001-X 10.1016/S0160-7383(03)00058-6 10.1016/j.tourman.2004.06.015 10.1007/s001810000031 10.1080/00036848300000054 10.1016/0165-1765(78)90022-8 10.2307/1911983 10.1016/0165-1765(79)90027-2 10.5367/000000009787536735 10.1007/978-1-4613-1277-2 10.1016/S0169-5150(96)01190-5 10.1177/0047287504268235 10.1016/0160-7383(85)90076-3 10.2307/1913236 10.1016/0261-5177(87)90055-0 10.1016/j.ijforecast.2005.03.006 10.1016/S0165-1765(01)00441-4 10.1177/0047287506291596 10.2307/1243889 10.1016/S0160-7383(02)00029-4 10.1016/0304-4076(90)90064-Z 10.1016/0304-4076(76)90009-9 10.2307/2227743 |
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| References | Bera, A.K., R.P. Byron, C.M. Jarque 1981; 8 Divisekera, S. 2003; 30 Engle, R.F., C.W.J. Granger 1987; 55 Han, Z., R. Durbarry, M.T. Sinclair 2006; 27 Durbarry, R., M.T. Sinclair 2003; 30 Balk, B.M., W.E. Diewert 2001; 72 Tornqvist, L. 1936; 10 Balcombe, K.G., J.R. Davis 1996; 15 Laitinen, K. 1978; 1 Divisekera, S. 2009; 15 Stone, J.R.N. 1954; 64 Buse, A., W.H. Chan 2000; 25 White, K.J. 1985; 12 Li, G., H. Song, S.F. Witt 2006; 22 Li, G., H. Song, S.F. Witt 2004; 43 Baldwin, M.A., M. Hadid, G.D.A. Phillips 1983; 15 Moschini, G. 1995; 77 Li, G., K.K.F. Wong, H. Song, S.F. Witt 2006; 45 Meinser, J.F. 1979; 2 Deaton, A., J. Muellbauer 1980; 70 Martin, C.A., S.F. Witt 1987; 8 Chambers, M.J. 1990; 44 Diewert, W.E. 1976; 4 Fujii, E.T., M. Khaled, J. Mak 1985; 19 Deaton, A.S. 1974; 42 Court, R.H. 1968; 3 atypb8 Tornqvist, L. (atypb27) 1936; 10 atypb19 atypb26 atypb28 atypb22 atypb23 atypb24 atypb25 Court, R.H. (atypb7) 1968; 3 atypb20 atypb21 Deaton, A. (atypb9) 1980; 70 Fujii, E.T. (atypb17) 1985; 19 atypb15 atypb16 Decoster, A. (atypb10) 1998 atypb18 atypb11 atypb12 atypb13 atypb14 atypb1 atypb3 atypb2 atypb5 atypb4 atypb6 |
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| SubjectTerms | Consumer spending Demand Dynamic tests Dynamical systems Dynamics Expenditures Gain Marketing Mathematical models Prices Studies Tourism |
| Title | Analyzing Tourist Consumption: A Dynamic System-of-Equations Approach |
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