Dynamic heterogeneous panel data analysis of tourism demand for Singapore

作者：Lim Christine; Zhu Liang^*

来源：Journal of Travel & Tourism Marketing, 2017, 34(9): 1224-1234.

DOI：10.1080/10548408.2017.1330173

• Tourism demand modeling
• dynamic heterogeneous panels
• pooled mean group estimation
• long-run equilibrium relationship

The objective of this study is to investigate tourism demand for Singapore using heterogeneous dynamic panel estimation methods. A binary variable representing the operation of Integrated Resorts (IRs), as well as income and real exchange rate, are included as determinants of tourism demand growth. Using seasonally adjusted and actual/raw quarterly data of 16 origin countries, our study shows that the pooled mran group (PMG) estimator is able to provide consistent and efficient estimates of long-run relationships between tourism demand and the determinants. The PMG results show that the long-run income (price) elasticity is positively (negatively) significant, with an elasticities range between 0.915 and 3.05 (-0.275 and -0.34). In addition, the study reveals that the IRs contribute to tourism demand growth, especially in attracting tourists from Asia. In the long term, tourism demand by the Asian markets is less income-sensitive than that of the non-Asian counterparts.

• 出版日期2017
• 单位南阳理工学院