2021
DOI: 10.1080/13683500.2021.1937959
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The effect of wealth effect and population aging on tourism expenditure

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Cited by 5 publications
(5 citation statements)
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“…The empirical findings presented here differ from the theoretical results reported by Liu et al (2016), where in a nonlinear association between housing price and tourism consumption was observed. In this study, housing price positively affected tourism development in the low-HP regime; thus, with the rise in housing price, the number of tourist arrivals increased accordingly, and the wealth effect of housing price dominated, which is supported by the studies of Zuo and Lai (2020), Chen et al (2021) and Kim et al (2012). There are alternative explanations for these positive effects based on the PIH.…”
Section: Discussionsupporting
confidence: 75%
“…The empirical findings presented here differ from the theoretical results reported by Liu et al (2016), where in a nonlinear association between housing price and tourism consumption was observed. In this study, housing price positively affected tourism development in the low-HP regime; thus, with the rise in housing price, the number of tourist arrivals increased accordingly, and the wealth effect of housing price dominated, which is supported by the studies of Zuo and Lai (2020), Chen et al (2021) and Kim et al (2012). There are alternative explanations for these positive effects based on the PIH.…”
Section: Discussionsupporting
confidence: 75%
“…Therefore, they often incur debt, even though they know that as they age, their income level will also increase. Furthermore, as the proportion of the population in different countries ages, the level of consumption in those countries will increase proportionally [52].…”
Section: Age and Consumptionmentioning
confidence: 99%
“…Chen et al [52] note that the concept of ageing has been the subject of discussion among various scholars and economic observers for the past two decades, considering how consumers enjoy the benefits of their work, the impact on the total consumption of each individual, and how information is processed. Consequently, individual decision making in consumption is considered part of a long-term strategy.…”
Section: Age and Consumptionmentioning
confidence: 99%
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“…People are more prone to spend money on leisure and entertainment goods, such as travel, as they age older. Traveling costs more money for older people since it is associated with increased spending power [18].…”
Section: Literature Reviewmentioning
confidence: 99%