An Empirical Analysis of Demand Factors For Malaysian Tourism Sector Using Stochastic Methods  

Oleh:

Moorthy, Rajeeshwaran

Jenis: Article from Proceeding
Dalam koleksi: SIBR-Thammasat 2014 Conference on Interdisciplinary Business & Economics Research June 5th- 7th, 2014 di Emerald Hotel Bangkok, page 1-2.
Topik: Tourism; Cognitive Attractiveness; Econometric Model
Fulltext: b14-132.pdf (42.03KB)

Isi artikel

The travel and tourism industry is one of the world's largest and most diverse industries. Many nations rely on this dynamic industry as a primary source for generating revenues, employment, private sector growth, and infrastructure development. The increasing growth of tourism industry is widely recognized for its contribution to the economic development of regions and nations all around the world. For many destinations, visitor expenditure on accommodation, food and drink, local transport, entertainment, shopping, and others is an important pillar of their economies, creating much needed employment and opportunities for development. Tourism has increasingly become a vital element in the economic development of Malaysia. This study aims to identify the demand or contributing factors of Malaysian tourism in the year of 2014 which also happens to be the Visit Malaysia Year 2014; nation's biggest and grandest tourism celebration with Malaysia Truly Asia's endless wonders of events, festivals and activities all-year round. The existing literatures have been reviewed in the first part of the paper. This is followed by developing a simple econometric model in order to investigate macroeconomics variables affecting the destination choice of tourism industry in Malaysia using stochastic method. Combining insights from econometric model and anecdotal evidence in the field of tourism, it has been proposed at the end of the paper that demanding factor of destination choice of tourism in Malaysia are cognitive attractiveness motivated, first, by cultural attractions as the second, which is facilitated by service and safety.

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