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Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic

Author

Listed:
  • Joonho Moon

    (Department of Tourism Administration, Kangwon National University, Chuncheon 24341, Korea)

  • Won Seok Lee

    (Department of Tourism and Recreation, Kyonggi University, Seoul 03746, Korea)

  • Jimin Shim

    (Department of Tourism and Recreation, Kyonggi University, Seoul 03746, Korea)

Abstract

The aim of this research was to examine the effects of travel expenditures on life satisfaction in the context of the COVID-19 pandemic. For the research, a curvilinear relationship was established between life satisfaction and travel expenditures that was then compared between 2018 and 2020. The study subjects were middle-aged and older adults who completed the 2018 and 2020 waves of the Korean Longitudinal Study of Aging. Demographic, travel expenditure, and life satisfaction data were collected, and quadratic regression analysis was conducted to examine the effects of travel expenditures on life satisfaction before and during the COVID-19 pandemic. The first-order condition was computed to determine the optimal level of travel expenditures to maximize life satisfaction, and the results exhibit that the utility of travel expenditure decreased during the COVID-19 pandemic.

Suggested Citation

  • Joonho Moon & Won Seok Lee & Jimin Shim, 2022. "Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic," IJERPH, MDPI, vol. 19(20), pages 1-8, October.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:20:p:13523-:d:946725
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    References listed on IDEAS

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    Cited by:

    1. Won Seok Lee & Joonho Moon, 2023. "The Impacts of Subjective Health and Life Expenses on Quality of Life for Korean Elderly People," Sustainability, MDPI, vol. 15(22), pages 1-11, November.

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