The effect of housing wealth on tourism consumption in China: Age and generation cohort comparisons

Bing Zuo and Zhaoqi Lai
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Bing Zuo: Sun Yat-Sen University, People’s Republic of China
Zhaoqi Lai: Sun Yat-Sen University, People’s Republic of China

Tourism Economics, 2020, vol. 26, issue 2, 211-232

Abstract: Based on the theoretical framework of the life-cycle/permanent income model, an in-depth analysis on the effect of housing wealth on tourism consumption was conducted in this research, with a special focus on the conditional effects of age and cohort generations. Using the 2014–2016 Chinese Household Survey data, the study finds that a significant housing wealth effect on tourism consumption exists in China, which is more significant than income effects. The results also illustrate the considerable conditional effects of age and cohort generations on the housing wealth effect. Future studies should focus on the effect of housing wealth when forecasting tourist demand to avoid an estimation bias. In addition, age and cohort differences should also be emphasized in tourist studies.

Keywords: conditional effect; hierarchical multiple regression; housing wealth effect; permanent income hypothesis; tourism consumption (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:26:y:2020:i:2:p:211-232

DOI: 10.1177/1354816619861843

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