Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic

Joonho Moon, Won Seok Lee () and Jimin Shim
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Joonho Moon: Department of Tourism Administration, Kangwon National University, Chuncheon 24341, Korea
Won Seok Lee: Department of Tourism and Recreation, Kyonggi University, Seoul 03746, Korea
Jimin Shim: Department of Tourism and Recreation, Kyonggi University, Seoul 03746, Korea

IJERPH, 2022, vol. 19, issue 20, 1-8

Abstract: The aim of this research was to examine the effects of travel expenditures on life satisfaction in the context of the COVID-19 pandemic. For the research, a curvilinear relationship was established between life satisfaction and travel expenditures that was then compared between 2018 and 2020. The study subjects were middle-aged and older adults who completed the 2018 and 2020 waves of the Korean Longitudinal Study of Aging. Demographic, travel expenditure, and life satisfaction data were collected, and quadratic regression analysis was conducted to examine the effects of travel expenditures on life satisfaction before and during the COVID-19 pandemic. The first-order condition was computed to determine the optimal level of travel expenditures to maximize life satisfaction, and the results exhibit that the utility of travel expenditure decreased during the COVID-19 pandemic.

Keywords: life satisfaction; middle-aged and older Koreans; travel expenditure; inverted U shape; COVID-19 (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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