Determinants of tourist expenditure: a review of microeconometric models
AbstractThis paper presents a comprehensive review of the econometric approaches for the analysis of tourism expenditure at individual level. The attempt to consider only regression models is novel in literature. The paper resumes 86 papers and 354 estimates of econometric models from data at individual level, ranging from 1977 to the early 2012. Discussion focuses on models used, dependent variables, explanatory variables by category and their effect on expenditure. The most frequently used explanatory variables were income, socio-demographic and trip-related, and were tested mainly through classical regression techniques (OLS, quantile, Tobit and two-step, logistic). Future research directions should concern the exploration of new evidence through novel methodological techniques, a more extensive use of psychographic variables and a stronger relation to economic theory.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 38468.
Date of creation: 25 Apr 2012
Date of revision:
Tourist expenditure; Econometric models; Micro data; Review;
Find related papers by JEL classification:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- C0 - Mathematical and Quantitative Methods - - General
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
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