 Tourists' spending and adherence to shopping plans: The case of the christmas market in Merano, ItalyJuan Brida and Oksana Tokarchuk Tourism Management, 2017, vol. 61, issue C, 55-62 Abstract: The present paper investigates the determinants of tourists' expenditure by categorizing tourists based on their mental budgets. Individuals can be divided into three categories based on the difference between their mental budget and actual expenditure: underspenders, on-budget spenders, and overspenders. Estimation of the empirical model is performed based on data collected through a survey of visitors to the Christmas Market in Merano, Italy during Advent in 2011. The estimation is performed with the Heckman estimator, ordered probit selection rule, and linear regression. We find that the spending patterns of visitors belonging to the three identified categories differ significantly. Analyzing visitors’ expenditure based on the proposed categorization allows us to identify category-specific factors and develop management strategies for each category. The managerial and theoretical implications of the results are discussed. Keywords: Tourists' expenditure; Mental budget; Shopping plans; Christmas market; Heckman estimator with ordered-Probit selection rule (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:touman:v:61:y:2017:i:c:p:55-62 DOI: 10.1016/j.tourman.2017.01.016 Access Statistics for this article Tourism Management is currently edited by Chris Ryan More articles in Tourism Management from Elsevier |
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