EVIDENCE ON PRE-PANDEMIC OUTBOUND TOURISM DEMAND DETERMINANTS IN OECD COUNTRIES

This paper examines how origin country socio-economic factors determine outbound tourism demand. The analysis is performed within a panel of 32 Organisation for Economic Cooperation and Development (OECD) countries throughout the 2010-2019 period. The dynamic panel data estimation technique is emplo...

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Bibliographic Details
Main Author: Simundic, Blanka
Format: Conference Proceeding
Language:English
Subjects:
Competitiveness
Coronaviruses
COVID-19
Demand analysis
Economic analysis
Economic development
Economic factors
Empirical analysis
Expenditures
GDP
Global economy
Gross Domestic Product
Income
International
Literature reviews
Pandemics
Social factors
Socioeconomic factors
Socioeconomics
Tourism
Tourism development
Trends
Uncertainty
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Summary:This paper examines how origin country socio-economic factors determine outbound tourism demand. The analysis is performed within a panel of 32 Organisation for Economic Cooperation and Development (OECD) countries throughout the 2010-2019 period. The dynamic panel data estimation technique is employed. Besides the income and price as mostly present pull factors of outbound tourism demand in empirical research, this paper analyses the effects of former outbound tourism demand and the socio-economic uncertainty on outbound tourism demand. The international departures and expenditures proved to be positively affected by the net income level, while the loss in international competitiveness has negative effects on the number of departures, while, consequently, expenditures are rising. A particular implication of the results would be that regardless the rise in the economic uncertainty in the origin country, its tourism departure levels show growth persistence, while the expenditure levels drop. This shows that the influence of previous tourism experience is higher than the influence of negative expectations in the economy. This could be of unambiguous importance for origin country's policy makers and domestic tourism development as well as for destinations that seek new tourism source markets.
ISSN:1849-6903
1849-6903