Tourism demand is the foundation on which all tourism-related business decisions ultimately rest. Governments and companies such as airlines, tour operators, hotels, cruise ship lines, and recreation facility providers are interested in the demand for their products by tourists. The success of many businesses depends largely or totally on the state of tourism demand, and ultimate management failure is quite often due to the failure to meet market demand. This book introduces students, researchers and practitioners to the modern developments in advanced econometric methodology within the context of tourism demand analysis, and illustrates these developments with actual tourism applications. The concepts and computations of modern advanced econometric modelling methodologies are introduced at a level that is accessible to specialists and non-specialists alike. The methodologies introduced include general-to-specific modelling, cointegration, vector autoregression, time varying parameter modelling, panel data analysis and the almost ideal demand system (AIDS). In order to help the reader understand the various methodologies, extensive tourism demand examples are provided throughout the volume.
About the Author:
Stephen F Witt is a Visiting Professor in the School of Hotel and Tourism Management at The Hong Kong Polytechnic University and is an Emeritus Professor at the University of Surrey, UK. Prior to this he was Professor of Tourism Forecasting in the School of Management at the University of Surrey, UK. He has published 150 journal articles and book chapters, as well as 20 books. The latter include: the Tourism Marketing and Management Handbook; The Management of International Tourism; Modeling and Forecasting Demand in Tourism; Tourism Demand Modelling and Forecasting: Modern Econometric Approaches; Tourism Forecasts for Europe 2001-2005; and Asia Pacific Tourism Forecasts 2006 -2008 .