1st Edition

Econometric Modelling and Forecasting of Tourism Demand Methods and Applications

Edited By Doris Chenguang Wu, Gang Li, Haiyan Song Copyright 2023
    326 Pages 33 B/W Illustrations
    by Routledge

    326 Pages 33 B/W Illustrations
    by Routledge

    This insightful and timely volume provides a succinct, expert-led introduction to the latest developments in advanced econometric methodologies in the context of tourism demand modelling and forecasting.

    Written by a plethora of worldwide experts on this topic, this book offers a comprehensive approach to tourism econometrics. Accurate demand forecasts are crucial to decision-making in the tourism industry and this book provides real-life tourism applications and the corresponding R code alongside theoretical foundations, in order to enhance understanding and practice amongst its readers. The methodologies introduced include general to specific modelling, cointegration, vector autoregression, time-varying parameter modelling, spatiotemporal econometric models, mixed-frequency forecasting, hybrid forecasting models, forecasting combination techniques, density forecasting, judgemental forecasting, scenario forecasting under crisis, and web-based tourism forecasting.

    Embellished with insightful figures and tables throughout, this book is an invaluable resource for those using advanced econometric methodologies in their studies and research, including both undergraduate and postgraduate students, researchers, and practitioners.

    1. Overview of Econometric Tourism Demand Modelling and Forecasting

    Haiyan Song and Hongrun Wu

    2. Theoretical Foundations, Key Concepts and Data Description

    Vera Shanshan Lin, Xinyi Zhang and Richard T. R. Qiu

    3. The Autoregressive Distributed Lag Model

    Anyu Liu and Xinyang Liu

    4. The Time-Varying Parameter Model

    Gang Li, Jason Li Chen and Xiaoying Jiao

    5. Vector Autoregressive Models

    Zheng Chris Cao

    6. Spatiotemporal Econometric Models

    Xiaoying Jiao and Jason Li Chen

    7. Mixed-Frequency Models

    Han Liu, Ying Liu and Peihuang Wu

    8. Hybrid Forecasting Models

    Mingming Hu, Mei Li and Xin Zhao

    9. Density Forecasting

    Long Wen

    10. Forecast Combinations

    Doris Chenguang Wu and Chenyu Cao

    11. Judgmental Forecasting

    Vera Shanshan Lin and Yuan Qin

    12. Scenario Forecasting during Crises

    Richard T. R. Qiu

    13. A Web-based Tourism Forecasting System

    Xinyan Zhang


    Doris Chenguang Wu, Gang Li and Haiyan Song


    Doris Chenguang Wu, Ph.D., is a Professor in the School of Business at Sun Yat-sen University, China. Her research interests include tourism demand forecasting and tourism big data analytics.

    Gang Li, Ph.D., is a Professor of Tourism Economics at the University of Surrey. His research interests include economic analysis and forecasting of tourism demand.

    Haiyan Song, Ph.D., is Chan Chak Fu Professor of International Tourism in the School of Hotel and Tourism Management at the Hong Kong Polytechnic University. His research interests are in tourism demand modelling and forecasting, tourism supply chain management, and wine economics.