Asymmetric effects of tourist arrivals on the hospitality industry |
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| Affiliation: | 1. School of Business and Tourism Management, Yunnan University, Kunming, 650091, China;2. Tourism and Social Administration College, Nanjing Xiaozhuang University, Nanjing, 211171, China;3. School of Hospitality Business Management, Carson College of Business, Washington State University, Pullman, WA, 99164-4742, USA;4. Department of Apparel, Events, and Hospitality Management, College of Human Sciences, Iowa State University, Ames, IA, 50011-1078, USA;5. School of Management, Xiamen University, Xiamen, 361005, China;1. William F. Harrah College of Hospitality, University of Nevada, Las Vegas, 4505 Maryland Parkway, Box 456021, Las Vegas, NV, 89154-6021, United States;2. Strategic Coordinator, Drew Las Vegas, United States;1. College of Business Administration, University of South Florida, United States;2. College of Hospitality & Technology Leadership, University of South Florida, United States;3. University of Central Florida, Rosen College of Hospitality Management, United States;1. Facultad de Ciencias Jurídicas, Sociales y Humanidades, Universidad Internacional de La Rioja, Av. de la Paz, 137, 26004 Logroño, La Rioja, Spain;2. Howard Feiertag Department of Hospitality and Tourism Management, Pamplin College of Business, Virginia Tech, Blacksburg, VA 24061, United States;1. School of Hospitality Business Management, Carson College of Business, Washington State University, Pullman, WA 99164-4742, USA;2. Tourism and Social Administration College, NanJing XiaoZhuang University, NanJing 211171, China;3. School of Business and Tourism Management, Yunnan University, Kunming 650091, China;1. School of Hospitality Business Management, Carson College of Business, Washington State University, Pullman, WA 99164-4742, USA;2. Department of Finance, Chang Jung Christian University, Tainan, Taiwan, ROC;3. School of Business and Tourism Management, Yunnan University, Kunming, 650091, China |
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| Abstract: | This study makes a unique contribution to the hospitality literature by examining the asymmetric effects of total tourist arrivals in six segments of tourist arrivals (pleasure, business, visiting relatives, conference, study, and others) on Taiwan’s hospitality industry. Regression test results confirm that the contribution of the overall tourist arrivals and both pleasure and visiting relatives segments to hospitality industry growth is not asymmetric, as it is found in periods of expansion and contraction. The beneficial effect of the business segment on hospitality industry growth is asymmetric, existing only in periods of business cycle expansion. However, the conference, study, and other segments make no significant contribution to hospitality industry growth. The study’s valuable policy implications offer guidance to Taiwan’s tourism authorities, hospitality business owners, and managers. |
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| Keywords: | Tourist arrivals Hospitality industry Segments of tourist arrivals Business cycle |
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