The seven factors which determine the demand for goods are as follows: Tastes and Preferences of the Consumers 2.
Presentation Transcript Tourism concepts: November 9, C Prof.
Nimit Chowdhary IITTM 2 Defining tourism demand Economist Schedule of the amount of any product or service that people are willing and able to buy at each specific price in a set of possible prices during a specified period of time Psychologists Perspective of motivation and behaviour why people will ask for tourism Geographers The total number of people who travel, or wish to travel, to use tourist facilities and services at places away from their places of work and residence Approaching tourism demand: Psychological approach What personality traits and external influences will affect willingness to buy a tourism product!
Three concepts of demand: Effective demand Actual number of participants in tourism or those who are traveling, i. Suppressed demand Comprises of people who would like to travel but do not travel for some purpose Potential demand refers to those who would travel at some future date if circumstances change, e.
No demand Those who simply do not wish to travel or are unable to travel, constituting a category of no demand Two more concepts: Nimit Chowdhary IITTM 8 Two more concepts Substitution of demand Refers to a case when demand for one activity say a self catering holiday is substituted by another staying in serviced accommodation Redirection of demand Where the geographical location of demand is changed, e.
Nimit Chowdhary IITTM 9 A new tourism supply Might redirect demand from similar facility Might substitute demand from other facility tourism product Might generate new demand Indicators of tourism demand: Travel propensity Penetration of tourism trips in a population Demand schedule Refers to the quantities of a product that an individual wishes to purchase at different prices at a given point in time Indicators of tourism demand Travel propensity: Nimit Chowdhary IITTM 11 Indicators of tourism demand Travel propensity Net travel propensity Refers to the percentage of the population that takes at least one tourism trips in a given period of time Gross travel propensity Total number of tourism trips taken as a percentage of the population Travel propensity calculations: Consumer need Consumer perception of what will satisfy need Actual attractions Consumer perception of the attractions If these two agree Motivation to visit destination Tourism motivators: Nimit Chowdhary IITTM 20 Determinants of suppressed demand Travel is expensive and demands a certain threshold of income before people can undertake tourism.
It competes with other products for available funds. Lack of time may be a problem for some individuals- cannot afford to be away from home Physical limitations such as ill-health are a significant reason for many people not traveling. Determinants of suppressed demand: Nimit Chowdhary IITTM 21 Determinants of suppressed demand Family circumstances such as commitments, those who are single parents, or have to care for elderly relatives may prevent travel.
Government restrictions such as currency controls and visas may act as a real barrier to travel both inbound and outbound for some countries.
Leading position of Europe: Leading position of Europe Large segments of population receive relatively high incomes, resulting in high levels of disposable incomes Paid leave from work is normal in European countries High proportions of population of, for example, Germany, France and UK attach very high priority to annual foreign holiday and are reluctant to let is go even during recession Case 1: Leading position of Europe There is a wealth of both natural and man-made attractions Demand for foreign travel is satisfied by a large tourist industry and the necessary infrastructure International travel need not involve great distances, owing to relatively small countries Case 2: Characteristics of generating markets: Characteristics of generating markets It includes at least one of the four top generators of international tourism world wide- Germany, US, Japan and UK It includes neighbouring states, as the distance and cost involved are relatively small It includes countries further afield if, as in the case between the USA and Western Europe, air travel is available and at a cost within the reach of large segments of the population Case 2: Characteristics of generating markets It depends upon the size of the population of generating states and their propensity to travel It depends upon ease of travel across the borders It depends upon the real and perceived price of trips to the destination It depends upon the attractiveness of the destination It depends upon the social, cultural and historical links between the countries It depends upon marketing activity and appropriate supply View More Presentations.Thus, if the price of foreign currency declines, TOURISM MANAGEMENT December Determinants of demand for international tourist flows to Turkey tourists are likely to demand more services, other things being equal.
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WBx Talks. Explore nuggets of knowledge through podcasts, videos, webinars, infographics, mobile apps, and games that provide a . Determinants of individual demand The determinants of individual demand of a particular good, service or commodity refer to all the factors that determine the quantity demanded of an individual or household for the particular commodity. The price elasticity of demand (PED) is a measure that captures the responsiveness of a good’s quantity demanded to a change in its price. More specifically, it is the percentage change in quantity demanded in response to a one percent change in price when all other determinants of demand .
Estimating Elasticity of Demand for Tourism in Dubai Introduction The United Arab Emirates (UAE) is a federation of seven Emirates with Dubai, perhaps, the most well known thanks to its iconic tourism . Tourism demand modeling is the foundation on which related business decisions ultimately rest.
Determinants of tourism demand Among the various disciplines, economics, particularly the neoclassical consumer theory, contributes the most in terms of providing rigorous theoretical support for tourism demand modeling.
Get this from a library! Determinants of rural tourism and modeling rural tourism demand in Korea.