Measuring the economic impact of Australian tourism marketing expenditure

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Abstract:

The objective of this study is to quantify the effects of marketing expenditure by the Australian Tourist Commission (ATC). Cointegration analysis and a dynamic modelling approach are used to estimate the elasticity estimates of income, price, price of substitute, cost of travel and marketing expenditure for Australia's four major tourism markets, USA, Japan, UK and New Zealand. ATC marketing expenditure has a positive effect on international tourism demand and the magnitude of the effect varies from country to country. In promoting international visitor arrivals to Australia, not only ATC and non-ATC marketing but the word-of-mouth effect and visitor satisfaction leading to repeat visits also play an important role. The performance of the ATC marketing strategy measured in dollar return per dollar invested in the international tourism marketing is higher in the New Zealand market, followed by the UK, Japan and US markets. The estimated overall average dollar return per dollar invested in international tourism marketing is 8:1.
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  • Tourism Economics, published bimonthly, is a peer-reviewed journal devoted to the economics and finance of tourism worldwide. 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).

    Fast Track. Tourism Economics Fast Track papers have been peer-reviewed, revised and fully accepted for publication. However, although these are the final versions from the authors, they are unedited manuscripts and will undergo a rigorous editing process before their appearance in an issue of the journal. This means that the Fast Track manuscripts may not conform to journal style in terms of presentation, spelling and other usages. They may also contain errors of typography, grammar, spelling, referencing, etc, all of which will be corrected in the processes of copy-editing and proofreading.
    Tourism Economics operates a Fast Track online publication system so that papers can be published and made available almost immediately on final acceptance by the journal. Each Fast Track article is given a DOI. When the paper is assigned to an issue, this DOI will automatically be transferred to the article in the journal issue.
    Fast Track articles may be cited using the DOI. Citations should include the author's or authors' name(s), the title of the article, the title of the journal followed by the words Fast Track, the year of Fast Track publication and the DOI. For example:

    Smith, J. (2013), Article title, Tourism Economics Fast Track, DOI xxxxxxxx.

    Once the paper has been published in an issue of the journal, the DOI will automatically resolve to that final version and the article can be cited in accordance with normal bibliographical conventions.

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