Modelling substitution between domestic and outbound tourism in Australia: A system-of-equations approach

Athanasopoulos, George; Deng, Minfeng; Li, Gang; Song, Haiyan

doi:10.1016/j.tourman.2014.03.018

Cited by 42 publications

(44 citation statements)

References 48 publications

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“…In this case, the traveller will treat not domestic holidays as a good alternative to international travel. On the other hand, this result however, contradicts those of Athanasopoulos et al (2014) who find a significant degree of substitutability between domestic holidays in Australia and international travel to Asia, the UK and the USA.…”

Section: Cross Elasticitycontrasting

confidence: 95%

“…This is a robust technique which is widely used in the tourism context and ensures that results obtained are reliable (Seetaram, 2010(Seetaram, , 2012aSeetaram and Petit, 2012). As yet, competitiveness indices have not been widely used as a price variable in tourism demand analysis, though they are beginning to be used (see, Athanasopoulos et al, 2014;Dwyer et al, 2014, Forsyth et al 2012and Etzo et al, 2014. To illustrate the superiority of PCI over the REX, the model is estimated using each separately as the proxy for prices.…”

Section: Objections To Using Rexmentioning

confidence: 99%

“…These types of indices are often used in empirical work. For a recent tourism demand example, Athanasopoulos et al (2014) and Etzo, Massidda and Piras (2014) and.…”

Section: The Price Competitiveness Indexmentioning

confidence: 99%

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Measuring price elasticities of demand for outbound tourism using competitiveness indices

Seetaram

Forsyth

Dwyer

2016

Annals of Tourism Research

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The real exchange rate (REX) has long been used as the proxy for prices in tourism demand models. However it has limitations, particularly when it comes to models of outbound tourism.As an alternative, a price competitiveness index (PCI) is developed and used as a proxy for prices in a model of outbound tourism from Australia. Results obtained show that while REX is statistically insignificant and yields a price elasticity of -0.002, PCI is significant and generates a price elasticity of -1.07. The results obtained show that PCI outperforms REX as the preferred price variable in modelling outbound demand on both theoretic and empirical grounds.Furthermore, this index can be used to monitor the inter-temporal competitiveness of a destination.

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Section: Cross Elasticitycontrasting

confidence: 95%

Section: Objections To Using Rexmentioning

confidence: 99%

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Measuring price elasticities of demand for outbound tourism using competitiveness indices

Seetaram

Forsyth

Dwyer

2016

Annals of Tourism Research

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“…Wu et al, 2011;, or the substitution effect between domestic tourism and outbound tourism (e.g. Athanasopoulos et al, 2014). Furthermore, Li et al (2013) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 Gholipour et al, 2014;Yang et al, 2014a).…”

Section: Econometric Methodsmentioning

confidence: 99%

New developments in tourism and hotel demand modeling and forecasting

Song

Shen

2017

IJCHM

Self Cite

244

217

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Design/Methodology/approachArticles on tourism and hotel demand modeling and forecasting published in both Science Citation Index (SCI) and Social Sciences Citation Index (SSCI) journals were identified and analyzed. FindingsThis review finds that the studies focused on hotel demand are relatively less than those on tourism demand. It is also observed that more and more studies have moved away from the aggregate tourism demand analysis, while disaggregate markets and niche products have attracted increasing attention. Some studies have gone beyond neoclassical economic theory to seek additional explanations of the dynamics of tourism and hotel demand, such as environmental factors, tourist online behavior, and consumer confidence indicators, among others. More sophisticated techniques such as Research limitations/implicationsThe main limitation of this review is that the articles included in this study only cover the English literature. Future review of this kind should also include articles published in other languages. The review provides a useful guide for researchers who are interested in future research on tourism and hotel demand modeling and forecasting. Practical implicationsThis review provides important suggestions and recommendations for improving the efficiency of tourism and hospitality management practices. Originality/valueThe value of this review is that it identifies the current trends in tourism and hotel demand modeling and forecasting research and points out future research directions.

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“…We subsequently used this time series to construct indices of the real exchange rates R between Switzerland and the countries of origin: Athanasopoulos et al (2014) use Purchasing Power Parities (PPP) as an alternative measure. However, for this paper using the real exchange rate is more appropriate, since PPP would be based on interpolated data.…”

Section: Independent Variablesmentioning

confidence: 99%

How do Overnight Stays React to Exchange Rate Changes?

Stettler

2017

Swiss J Economics Statistics

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SUMMARYThis paper analyses the effect of a change in the real exchange rate on the number of overnight stays in Swiss hotels. It uses unique three-dimensional panel data on the monthly number of overnight stays by the visitor's country of origin in 141 Swiss communities during the ten-year period from January 2005 to December 2014. We find low exchange rate elasticities of 0.2 for cities, but much higher elasticities of 1.4 for touristic communities. On the source market side, we find large exchange rate elasticities for German, Dutch, and Belgian visitors, while travellers from France and Italy are less price sensitive. 124Christian Stettler

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Modelling substitution between domestic and outbound tourism in Australia: A system-of-equations approach

Cited by 42 publications

References 48 publications

Measuring price elasticities of demand for outbound tourism using competitiveness indices

Measuring price elasticities of demand for outbound tourism using competitiveness indices

New developments in tourism and hotel demand modeling and forecasting

How do Overnight Stays React to Exchange Rate Changes?

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