Abstract
Using International Passenger Survey (2017) data, this paper employs unconditional quantile regression (UQR) to analyse the determinants of tourist expenditure amongst inbound tourists to the United Kingdom. UQR allows us to estimate heterogeneous effects at any quantile of the distribution of the dependent variable. It overcomes the econometric limitations of ordinary least squares and quantile regression based estimates typically used to investigate tourism expenditures. However, our results reveal that the effects of our explanatory variables change across the distribution of tourist expenditure. This has important implications for those tasked with devising policies to enhance the UK’s tourist flows and expenditures.
| Original language | English |
|---|---|
| Article number | 108857 |
| Number of pages | 4 |
| Journal | Economics Letters |
| Volume | 186 |
| Early online date | 21 Nov 2019 |
| DOIs | |
| Publication status | Published - Jan 2020 |
Bibliographical note
NOTICE: this is the author’s version of a work that was accepted for publication in Economics Letters. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Economics Letters, 186, (2020) DOI: 10.1016/j.econlet.2019.108857© 2019, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/
Keywords
- Tourist expenditures
- Unconditional quantile regressions
- United Kingdom
ASJC Scopus subject areas
- Finance
- Economics and Econometrics