Description
Title: Evidence Using Data from Vietnam: Tourism Demand Elasticities by Income and Prices of International Market Regions
Abstract: This study seeks to ascertain the elasticity of the demand for travel based on regional income and price levels as well as overall global markets. It is distributed across two distinct regions, ranging from Asia and the intercontinental to Vietnam, and ten significant source markets overall. The results of data analysis for the years 1995 to 2019 using a nonlinear panel ARDL approach show that while demand for travel to Vietnam from major Asian markets is strongly income elastic, it is relatively price inelastic. The demand for travel is less sensitive to price in intercontinental markets than it is in Asian markets, particularly those with high own price elasticities. The majority of the major markets also experience various income and price effects. The findings of the study have shed light on the various categories of tourism goods, price sensitivity between market regions, and the extent of substitute locations.
Keywords: tourism demand elasticities; income and prices; international market regions
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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