Affiliation:
1. Department of Economics, Faculty of Business and Economics, University of Oviedo, Oviedo, Spain
Abstract
This article conducts a microeconometric analysis of individual participation in tourism activities. We examine the existence of habit formation in the form of state dependence by which past trips increase the taste for traveling. We also study the role of regional unemployment rates, regional price indexes, and climate conditions at origin on the likelihood of tourism participation. Individual and household characteristics are also controlled for. We use monthly longitudinal microdata for Spain between 2015 and 2018 involving more than 92,000 individuals. We estimate static and dynamic random effects Probit models finding evidence of habit formation. The initial conditions and participation in the previous month raise the propensity to make a tourist trip in the following period by 28 percentage points. Habit formation is found to be strongly associated with income and education.
Funder
Spanish Ministry of Education, Culture and Sport
universidad de oviedo
Subject
Tourism, Leisure and Hospitality Management,Transportation,Geography, Planning and Development
Cited by
15 articles.
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