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Understanding tourists' economizing strategies during the global economic crisis

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  • Campos-Soria, Juan A.
  • Inchausti-Sintes, Federico
  • Eugenio-Martin, Juan L.

Abstract

This paper explores how tourists from 165 regions of EU-27 countries cut back their tourism expenditure during the global economic crisis in 2009. Cutbacks in tourism expenditure are divided into two mutually related decisions: Firstly, whether or not the tourists decided to cut back on tourism expenditure because of the crisis; and second, which of six options they employed as their cut-back strategy: “fewer holidays”, “reduced length of stay”, “cheaper means of transport”, “cheaper accommodation”, “travel closer to home” or “change the period of travel”. The econometric model used to address these kinds of simultaneous decisions is an adaptation of the Heckman model within a generalized structural equations modelling approach. This methodology controls for sample selection bias and correlations between equations. This paper highlights patterns in cutback decisions that are associated with the socioeconomic characteristics of the household and the climate in the country of origin.

Suggested Citation

  • Campos-Soria, Juan A. & Inchausti-Sintes, Federico & Eugenio-Martin, Juan L., 2015. "Understanding tourists' economizing strategies during the global economic crisis," Tourism Management, Elsevier, vol. 48(C), pages 164-173.
    • Handle: RePEc:eee:touman:v:48:y:2015:i:c:p:164-173
    DOI: 10.1016/j.tourman.2014.10.019
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    6. Claudia-Elena Țuclea & Diana-Maria Vrânceanu & Carmen-Eugenia Năstase, 2020. "The Role of Social Media in Health Safety Evaluation of a Tourism Destination throughout the Travel Planning Process," Sustainability, MDPI, vol. 12(16), pages 1-17, August.
    7. Hyeongwoo Kim & Liping Gao, 2017. "Consumer Spending on Entertainment and the Great Recession," Auburn Economics Working Paper Series auwp2017-07, Department of Economics, Auburn University.
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    9. Fabio Mazzola & Iolanda Cascio & Rosalia Epifanio & Giuseppe Giacomo, 2018. "Territorial capital and growth over the Great Recession: a local analysis for Italy," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(2), pages 411-441, March.
    10. Konstantakopoulou, Ioanna, 2022. "Does health quality affect tourism? Evidence from system GMM estimates," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 425-440.
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    12. Qiu, Wanling & Rudkin, Simon & Sharma, Abhijit, 2017. "An Analysis of the Impact of Low Cost Airlines on Tourist Stay Duration and Expenditures," MPRA Paper 81428, University Library of Munich, Germany.
    13. Kožić Ivan & Arčabić Vladimir & Sever Ivan, 2022. "Tourism and Business Cycles: Does the Relationship Fade Away?," Zagreb International Review of Economics and Business, Sciendo, vol. 25(1), pages 95-110.
    14. Perles-Ribes, José Francisco & Ramón-Rodríguez, Ana Belén & Sevilla-Jiménez, Martín & Moreno-Izquierdo, Luis, 2016. "Unemployment effects of economic crises on hotel and residential tourism destinations: The case of Spain," Tourism Management, Elsevier, vol. 54(C), pages 356-368.
    15. Milagros Fernández-Herrero & Rosa María Hernández-Maestro & Óscar González-Benito, 2022. "Antecedents of tourist trip planning autonomy: The moderating effects of a global economic crisis," Tourism Economics, , vol. 28(5), pages 1153-1173, August.
    16. Rocío Cascajo & Lourdes Diaz Olvera & Andrés Monzon & Didier Plat & Jean-Baptiste Ray, 2018. "Impacts of the economic crisis on household transport expenditure and public transport policy: Evidence from the Spanish case," Post-Print halshs-01672812, HAL.
    17. Rodríguez, Xosé A. & Martínez-Roget, Fidel & González-Murias, Pilar, 2018. "Length of stay: Evidence from Santiago de Compostela," Annals of Tourism Research, Elsevier, vol. 68(C), pages 9-19.

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