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Dynamic analysis of British demand for tourism abroad

Author

Listed:
  • Panayiota Lyssiotou

    (University of Cyprus, P.O.Box 20537, 1678 Nicosia, Cyprus)

Abstract

This paper investigates how preference endogeneity, in the form of habit persistence, can affect short-run and long-run tourism expenditure decisions. The proposed model is applied to British quarterly data over the period 1979-91 and the empirical results suggest that preference endogeneity appears to have an important effect. This has policy implications for countries competing for British tourist arrivals. The differences between the short-run and long-run price and budget elasticities which are implied by habit persistence are also investigated.

Suggested Citation

  • Panayiota Lyssiotou, 2000. "Dynamic analysis of British demand for tourism abroad," Empirical Economics, Springer, vol. 25(3), pages 421-436.
    • Handle: RePEc:spr:empeco:v:25:y:2000:i:3:p:421-436
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    Citations

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    Cited by:

    1. Michael Haliassos, 2003. "Stockholding: Recent Lessons from Theory and Computations," Palgrave Macmillan Books, in: Luigi Guiso & Michael Haliassos & Tullio Jappelli (ed.), Stockholding in Europe, chapter 2, pages 30-49, Palgrave Macmillan.
    2. Massidda, Carla & Piras, Romano & Seetaram, Neelu, 2020. "A Microeconomics Analysis of the Per Diem Expenditure of British Travellers," Annals of Tourism Research, Elsevier, vol. 82(C).
    3. Panos Pashardes & Soteroula Hajispyrou, 2002. "Consumer Demand and Welfare under Increasing Block Pricing," University of Cyprus Working Papers in Economics 0207, University of Cyprus Department of Economics.
    4. Jacqueline M. Hamilton & Richard S.J. Tol, 2004. "The Impact Of Climate Change On Tourism And Recreation," Working Papers FNU-52, Research unit Sustainability and Global Change, Hamburg University, revised Nov 2004.
    5. Li, Gang & Song, Haiyan & Cao, Zheng & Wu, Doris Chenguang, 2013. "How competitive is Hong Kong against its competitors? An econometric study," Tourism Management, Elsevier, vol. 36(C), pages 247-256.
    6. Narangajavana, Yeamduan & Garrigos-Simon, Fernando J. & García, Javier Sanchez & Forgas-Coll, Santiago, 2014. "Prices, prices and prices: A study in the airline sector," Tourism Management, Elsevier, vol. 41(C), pages 28-42.
    7. Guizzardi, Andrea & Mazzocchi, Mario, 2010. "Tourism demand for Italy and the business cycle," Tourism Management, Elsevier, vol. 31(3), pages 367-377.
    8. Duha Altindag, 2014. "Crime and International Tourism," Journal of Labor Research, Springer, vol. 35(1), pages 1-14, March.
    9. Fleissig, Adrian R. & Swofford, James L., 2023. "The impact of Brexit on U.K. habits for expenditure on imports and consumption," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 196-203.
    10. Niamh Callaghan & Richard S. J. Tol, 2013. "UK Tourists, the Great Recession and Irish Tourism Policy," The Economic and Social Review, Economic and Social Studies, vol. 44(1), pages 103-116.
    11. Panos Hatzipanayotou & Sajal Lahiri & Michael S. Michael, 2002. "Reforms of Environmental Policies in the Presence of Cross-border Pollution and two Stage Clean Up," University of Cyprus Working Papers in Economics 0203, University of Cyprus Department of Economics.
    12. Xesfingi, Sofia & Papadopoulou, Georgia & Karamanis, Dimitrios & Martens, Hanno M., 2018. "Visitors’ satisfaction in Dubai and pre-trip destination image," MPRA Paper 89850, University Library of Munich, Germany.
    13. Athanasopoulos, George & Deng, Minfeng & Li, Gang & Song, Haiyan, 2014. "Modelling substitution between domestic and outbound tourism in Australia: A system-of-equations approach," Tourism Management, Elsevier, vol. 45(C), pages 159-170.
    14. Jacqueline M. Hamilton & David J. Maddison & Richard S.J. Tol, 2003. "Climate Change And International Tourism: A Simulation Study," Working Papers FNU-31, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2003.
    15. Lorde, Troy & Li, Gang & Airey, David, 2014. "Modeling Caribbean Tourism Demand: An Augmented Gravity Approach," MPRA Paper 95476, University Library of Munich, Germany.
    16. Maria M. De Mello & Natércia Fortuna, 2005. "Testing Alternative Dynamic Systems for Modelling Tourism Demand," CEF.UP Working Papers 0501, Universidade do Porto, Faculdade de Economia do Porto.
    17. Andrea Bigano & Alessandra Goria & Jacqueline Hamilton & Richard S.J. Tol, 2005. "The Effect of Climate Change and Extreme Weather Events on Tourism," Working Papers 2005.30, Fondazione Eni Enrico Mattei.
    18. Adrian R. Fleissig & James L. Swofford, 2023. "Habit persistence in assets demand," Southern Economic Journal, John Wiley & Sons, vol. 89(3), pages 975-985, January.
    19. Nikeel N Kumar & Arvind Patel & Rup Singh, 2022. "Modelling tourism competitiveness in small Pacific island countries," Tourism Economics, , vol. 28(3), pages 692-713, May.

    More about this item

    Keywords

    Preference endogeneity · demand for tourism · habit persistence;

    JEL classification:

    • D1 - Microeconomics - - Household Behavior

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