Economic analysis of tourism consumption dynamics. A Time-varying Parameter Demand System Approach.

Doris Chenguang Wu, Gang Li, Haiyan Song

Research output: Journal article publicationJournal articleAcademic researchpeer-review

25 Citations (Scopus)

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.
Original languageEnglish
Pages (from-to)667-685
Number of pages19
JournalAnnals of Tourism Research
Volume39
Issue number2
DOIs
Publication statusPublished - 1 Apr 2012

Keywords

  • Almost ideal demand system
  • Demand elasticity
  • Evolution
  • Hong Kong
  • Time-varying parameter
  • Tourism consumption

ASJC Scopus subject areas

  • Development
  • Tourism, Leisure and Hospitality Management

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