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Preferences and Tourism Development under Uncertainty: An Empirical Study

Author

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  • Zhou Lu

    (Zhejiang Yuexiu University of Foreign Language, Dongpuzhen Qunxian Middle Road No. 2801, Shaoxing 312000, China
    School of Economics, Tianjin University of Commerce, Tianjin 300134, China)

  • Haiwei Li

    (School of Economics, Tianjin University of Commerce, Tianjin 300134, China)

  • Chi Keung Marco Lau

    (Teesside University Business School, Teesside University, Middlesbrough TS1 3BX, UK)

  • Aliyu Buhari Isah

    (Huddersfield Business School, University of Huddersfield, Huddersfield HD1 3DH, UK)

Abstract

Using the Global Preferences Survey dataset, this paper examines the effects of six measures of preferences (altruism, negative reciprocity, patience, positive reciprocity, risk-taking, and trust) on the per capita international tourist arrivals and the per capita incoming tourist receipts. The data focus on 74 countries for the period from 1995 to 2019. The paper finds that citizens’ trust is positively related to tourism development, and its impact is statistically significant. This evidence indicates that a country with a higher level of trust in other nations’ people attracts more tourists and generates higher tourism receipts.

Suggested Citation

  • Zhou Lu & Haiwei Li & Chi Keung Marco Lau & Aliyu Buhari Isah, 2021. "Preferences and Tourism Development under Uncertainty: An Empirical Study," Sustainability, MDPI, vol. 13(5), pages 1-9, February.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:5:p:2534-:d:506403
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    References listed on IDEAS

    as
    1. Quintal, Vanessa Ann & Lee, Julie Anne & Soutar, Geoffrey N., 2010. "Risk, uncertainty and the theory of planned behavior: A tourism example," Tourism Management, Elsevier, vol. 31(6), pages 797-805.
    2. Caliendo, Marco & Fossen, Frank & Kritikos, Alexander, 2012. "Trust, positive reciprocity, and negative reciprocity: Do these traits impact entrepreneurial dynamics?," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 394-409.
    3. Armin Falk & Anke Becker & Thomas Dohmen & Benjamin Enke & David Huffman & Uwe Sunde, 2018. "Global Evidence on Economic Preferences," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 133(4), pages 1645-1692.
    4. Armin Falk & Anke Becker & Thomas Dohmen & David Huffman & Uwe Sunde, 2023. "The Preference Survey Module: A Validated Instrument for Measuring Risk, Time, and Social Preferences," Management Science, INFORMS, vol. 69(4), pages 1935-1950, April.
    5. Su, Yu-Wen & Lin, Hui-Lin, 2014. "Analysis of international tourist arrivals worldwide: The role of world heritage sites," Tourism Management, Elsevier, vol. 40(C), pages 46-58.
    6. Gholipour, Hassan F. & Tajaddini, Reza & Nguyen, Jeremy, 2016. "Happiness and inbound tourism," Annals of Tourism Research, Elsevier, vol. 57(C), pages 251-253.
    7. Paraskevaidis, Pavlos & Andriotis, Konstantinos, 2017. "Altruism in tourism: Social Exchange Theory vs Altruistic Surplus Phenomenon in host volunteering," Annals of Tourism Research, Elsevier, vol. 62(C), pages 26-37.
    8. Gozgor, Giray & Lau, Chi Keung Marco & Zeng, Yan & Lin, Zhibin, 2019. "The effectiveness of the legal system and inbound tourism," Annals of Tourism Research, Elsevier, vol. 76(C), pages 24-35.
    9. Martins, Luís Filipe & Gan, Yi & Ferreira-Lopes, Alexandra, 2017. "An empirical analysis of the influence of macroeconomic determinants on World tourism demand," Tourism Management, Elsevier, vol. 61(C), pages 248-260.
    10. Andrea Saayman & Melville Saayman, 2008. "Determinants of Inbound Tourism to South Africa," Tourism Economics, , vol. 14(1), pages 81-96, March.
    11. Armin Falk & Anke Becker & Thomas Dohmen & Benjamin Enke & David B. Huffman & Uwe Sunde, 2017. "Global Evidence on Economic Preferences," NBER Working Papers 23943, National Bureau of Economic Research, Inc.
    12. Christine Lim, 1997. "An Econometric Classification and Review of International Tourism Demand Models," Tourism Economics, , vol. 3(1), pages 69-81, March.
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    Cited by:

    1. Armindo Frias & Erza Raskova & Álvaro Costa & João Cabral, 2021. "Obtaining Data Values from Tourist Preferences," Sustainability, MDPI, vol. 13(18), pages 1-15, September.
    2. Fu, Fanjie & Fang, Jing & Zhang, Fan & Yao, Shujie & Ou, Jinghua, 2024. "CEOs' hometown connections and corporate risk-taking: Evidence from China," Emerging Markets Review, Elsevier, vol. 60(C).
    3. Andra Poruțiu & Olivia Paula Tirpe & Camelia Oroian & Valentin C. Mihai & Gabriela O. Chiciudean & Daniel I. Chiciudean & Crina Poruțiu, 2021. "Analysis on Tourists’ Preferences for Rural Tourism Destinations in Romania," Societies, MDPI, vol. 11(3), pages 1-12, August.

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