“…Along with the development of quantitative analysis techniques, econometric and time-series models have gained a great deal of popularity in tourism demand modeling (Song & Li, 2008;Song et al, 2010b). For instance, the autoregressive moving average model, generalized autoregressive conditional heteroskedasticity model, and their extensions are the most popular time-series models for tourism demand, which are widely applied by Akal (2004) to forecast international tourism revenues in Turkey, by Chan, Lim, and McAleer (2005) to model multivariate international tourism demand and volatility in Australia, by Wong et al (2007) to examine tourism arrivals to Hong Kong, and by Woosnam and Kim (2014) to investigate hurricane impacts on national park visitation in U.S. On the other hand, econometric models like ADLM and ECM are frequently used because of their superiority in capturing long-run equilibrium, short-run dynamics, and interaction between tourism demand and its main determinants (Lin et al, 2015;Song & Witt, 2003;Song et al, 2011;Wang, 2009;Wong et al, 2007). Other models, such as TVP model (Page et al, 2012), the almost ideal demand system model (AIDS; Kuo et al, 2014;Li, Song, & Witt, 2006), CGE (Blake et al, 2006), are also applied in empirical research.…”