An econometric study of tourism demand: the AIDS model of US and European tourism in Mediterranean countries

Syriopoulos, T.C and Sinclair, M.T (1993) An econometric study of tourism demand: the AIDS model of US and European tourism in Mediterranean countries. Applied Economics, 25 (12). pp. 1541-1552. ISSN 0003-6846. (The full text of this publication is not available from this repository)

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Official URL
http://dx.doi.org/10.1080/00036849300000158

Abstract

The almost ideal demand system (AIDS) model was used to estimate tourism expenditure allocation by US and West European countries among a range of Mediterranean destinations. The approach has the advantage of an explicit basis in consumer expenditure theory and, by modelling the changes in the budget shares of expenditure among destinations, provides new information relative to that provided by the traditional single equation approach. The estimated model was econometrically satisfactory, although symmetry and homogeneity were rejected, in line with the findings of past studies of consumer demand. The expenditure elasticities demonstrated considerable differences in tourism demand preferences between origin countries, and between traditional and newly developing destinations. The own- and cross-price elasticities indicated the importance of effective prices in determining the allocation of expenditure among destinations.

Item Type: Article
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HB Economic Theory
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: O.O. Odanye
Date Deposited: 20 Jul 2009 21:53
Last Modified: 20 Jul 2009 21:53
Resource URI: http://kar.kent.ac.uk/id/eprint/20709 (The current URI for this page, for reference purposes)
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