Discretionary expenditure and tourism consumption: insights from a choice experiment
نویسندگان
چکیده
Consumers’ decisions to spend money on tourism occur in the context of the other potential uses of their resources and corresponding values or utilities. While many studies have examined the demand for travel and tourism there is no known study that reveals how individuals and households make tradeoffs when allocating their spending between various potential categories of discretionary expenditure. This study assesses these tradeoffs empirically through the conduct of a choice experiment on a random sample of Australian consumers. The results provide insight into how each category of discretionary expenditure is valued and how spending in each category competes for a share of the discretionary expenditure ‘pie’. We discuss the results with an emphasis on the implications for tourism.
منابع مشابه
The Effects of Oil Price Shocks on Discretionary Fiscal Policy in Selected OPEC Countries: Panel Structural Vector Autoregressive
The present study was aimed to investigate the effects of oil price shocks on discretionary fiscal policies in selected OPEC countries during 1980-2015. In this regard, the heterogeneous dynamic reaction to structural shock was examined using Panel Structural Vector Autoregressive (PSVAR) technique. Based on the findings, the effect of oil price shocks on discretionary fiscal policy was positiv...
متن کاملFiscal Policy in an Islamic Economyand the Role of Zakat
This study incorporates Zakat into a simple macroeconomic model of an Islamic economy and analyzes the role of Zakat in the national income determination. The reduced form aggregate consumption function suggests that the determinants of consumption are: Zakat expenditure, taxes, income, and asset holdings of individuals. Zakat could be used as a counter-cyclical policy through the discretionary...
متن کاملPrice and Expenditure Elasticities of Demand for Domestic Tourism in Iran: The Case of Hamedan Province1
Domestic tourism has an important role in socio-economic development in several ways including creating jobs and improving income distribution. Although several researcheshave been done on tourism demand, a small proportion of them have been on domestic tourism. In this paper, the price and expenditure elasticities of the household demand for domestic tourism in Iran, focusing on the case of Ha...
متن کاملThe Consumption Response to Predictable Changes in Discretionary Income: Evidence from the Repayment of Vehicle Loans
Although the Life-Cycle/Permanent Income Hypothesis is the primary framework for understanding household consumption and savings decisions, only a few studies have used clearly identifiable income changes to test the basic predictions of the model. The estimates produced using this empirical strategy have yet to lead to a consensus of beliefs since the results have both favored and rejected the...
متن کامل