Impact of unexpected events on inbound tourism demand modeling: evidence of Middle East Respiratory Syndrome outbreak in South Korea

This paper attempts to evaluate how South Korea’s inbound tourist arrivals from China have been affected by the Middle East Respiratory Syndrome (MERS) outbreak. Using quarterly data, the autoregressive distributed lag model (ADLM) is performed to capture the influence of the MERS outbreak. Estimation results of the general ADLM reveal that the MERS outbreak has a significant adverse impact on the total inbound tourist arrivals from China, as well as on tour arrivals; however, for business, official, and other types of tourist arrivals, its influence is insignificant. Furthermore, the error correction model is estimated to demonstrate the long-run equilibrium and short-run dynamics among the underlying variables. Our analysis not only provides empirical evidence on evaluating the impact of the MERS outbreak on different types of tourism demand, but also identifies main determinants and suggests appropriate model specifications for each type of tourist arrivals.     

Global Financial/Economic Crisis and Tourist Arrival Forecasts for Hong Kong

This paper examines the impact of the global financial/economic crisis on the demand for Hong Kong tourism by residents of 10 major source markets for the period 2009–2012. To capture the influence of this crisis, the Autoregressive Distributed Lag Model (ADLM) is used to calculate the demand elasticities, and four scenarios (ranging from the most pessimistic to the most optimistic) are created to examine the possible impacts of changes in source market income levels and the price of tourism on the demand for Hong Kong tourism in these markets. The demand elasticities reveal that the economic conditions in the source markets are the most significant determinants of demand for Hong Kong tourism. In the most pessimistic scenario, total tourist arrivals to Hong Kong are projected to reach 27.6 million in 2009 and 26.0 million in 2012, whereas in the most optimistic scenario, these numbers are 30.7 million in 2009 and 33 million in 2012. In all of the scenarios, tourist arrivals from the long-haul markets are expected to suffer more losses relative to the short-haul markets during the 2009–2012 forecasting period. The forecasts also indicate that the market shares of the source markets will change slightly over this period, with Mainland China, Taiwan and Japan constituting the dominant markets for Hong Kong tourism.     

我国城市入境旅游需求的影响因素研究——基于上海长线市场的案例分析

基于5个主要长线市场（美国、澳大利亚、法国、德国、英国）的近19年年度数据，通过采用自回归分布滞后模型(ADLM)对影响上海入境旅游需求的主要因素进行分析，并运用“从一般到具体”(general-to-specific)的计量经济建模方法确定最终模型。分析结果表明，客源国的经济状况是上海入境旅游需求的重要决定因素，上海的旅游成本、“口碑效应“以及一些突发事件会对不同客源国入境旅游需求产生显著影响。最后通过对旅游需求弹性的分析为上海旅游产业政策制定提供了政策建议和实证依据。