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Empirical Estimation Of Tourism Demand Models: A Review

In: Handbook of Tourism Economics Analysis, New Applications and Case Studies

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  • Sarath Divisekera

    (Victoria University, Australia)

Abstract

The objective of this chapter is to review the issues confronting applied researchers who rely on established demand systems to analyse specific issues in relation to tourism demand. In doing so, it concentrates on associated modifications and extensions to the base models proposed and applied in the recent literature, along with related model specification and econometric issues. The modifications include incorporating structural changes, seasonality, and other exogenous events that affect tourism demand over time. Extensions include dynamic versions of the base models. Finally, issues in relation to specification and estimation of singular demand systems are reviewed. The chapter concludes with an example of the way in which economic parameters drawn from empirical models are interpreted.

Suggested Citation

  • Sarath Divisekera, 2013. "Empirical Estimation Of Tourism Demand Models: A Review," World Scientific Book Chapters, in: Clement A Tisdell (ed.), Handbook of Tourism Economics Analysis, New Applications and Case Studies, chapter 3, pages 67-85, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789814327084_0003
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