Hassan F. Gholipour, M. Farzanegan, Charbel Bassil, Xuan Zhao
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Mortgage debt and domestic and outbound travel expenditures: International evidence
We explore the relationship between the mortgage debt of households and their spending on domestic and outbound tourism and travel. We estimate a dynamic panel data model for a sample of 27 countries for 2010-2021, and find evidence for a negative relationship. Hence, we show that in countries where the mortgage per capita is high, residents allocate fewer expenditures on domestic and outbound tourism. We also find that the reduction in outbound tourism spending is more pronounced than the decrease in domestic tourism spending. Our findings can benefit policymakers and firms in the tourism industry by providing the knowledge necessary for creating successful promotional strategies.
期刊介绍:
Tourism Economics, published quarterly, covers the business aspects of tourism in the wider context. It takes account of constraints on development, such as social and community interests and the sustainable use of tourism and recreation resources, and inputs into the production process. The definition of tourism used includes tourist trips taken for all purposes, embracing both stay and day visitors. Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).