Modeling The Demand for inbound Tourism to Thailand: Panel Data Approach

DOI

10.2991/ictgtd-18.2018.28How to use a DOI?

Keywords

Modeling demand; International tourism; Pollution; Crime; Panel data

Abstract

This paper models the inbound tourism demand of Thailand by focusing on six major tourism markets, including China, Malaysia, South Korea, Japan, Russia, and India. Several economics variables widely used in the demand modeling literature were adopted. Besides, additional variables pertaining to environmental and security aspect were considered and incorporated into our investigated model. The panel data of six countries during 2003 and 2015 were collected from various sources. In our analysis, the random effects model was appropriated with the data set. The coefficient estimates were computed using panel least square method. Our results revealed that the substitute price of tourism destinations as well as the number of crime cases statistically significant in explaining the variation in tourism demand for Thailand. The major tourism markets of Thailand are sensitive the price of tourism and more likely to choose destination with lower costs of stay. Meanwhile, security and safety is another factor that influences their decision-making in selecting visiting destination.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Kittipat Preedatham
AU  - Vorrapob Vivatvanit
AU  - Karoon Suksonghong
PY  - 2018/03
DA  - 2018/03
TI  - Modeling The Demand for inbound Tourism to Thailand: Panel Data Approach
BT  - Proceedings of the 2nd International Conference on Tourism, Gastronomy, and Tourist Destination (ICTGTD 2018)
PB  - Atlantis Press
SP  - 236
EP  - 241
SN  - 2352-5428
UR  - https://doi.org/10.2991/ictgtd-18.2018.28
DO  - 10.2991/ictgtd-18.2018.28
ID  - Preedatham2018/03
ER  -