Wealth effect from real estate and outbound travel demand: the Malaysian case

Hassan Gholipour Fereidouni, Usama Al-mulali and Miswan Abdul Hakim Mohammed

Current Issues in Tourism, 2017, vol. 20, issue 1, 68-79

Abstract: This study uses quarterly data from Malaysia (2000–2011) to examine the relationship between the wealth effect from real estate (WERE) and outbound tourism while controlling for other relevant outbound tourism determinants. By applying time-series cointegration regressions, the results show that WERE has a positive and significant impact on Malaysian outbound travel demand. Then, we exclude the departures for business purposes from the total departures in order to have a better understanding of the impact of WERE on the consumption of a luxury good like international travel for leisure purposes. Similarly, we find that WERE increases Malaysian international travels for leisure purposes. The findings provide some implications for Malaysian policy-makers as well as tourism and travel agents.

Date: 2017
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DOI: 10.1080/13683500.2014.882886

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