Analysis of Factors Influencing Tourism Revenue in Zhangjiajie City
Liu Fangjun
Zhang Yinglin
Abstract
Tourism income is influenced by many factors, such as the number of domestic tourists, inbound tourists, civil aviation passenger volume, highway mileage, GDP and per capita disposable income of urban residents. Based on the time series data from 2002 to 2020, this paper makes an empirical study on the influencing factors of tourism income in Zhangjiajie by using the methods of unit root test, co-integration analysis, elimination of multicollinearity and elimination of sequence correlation. the following conclusions can be drawn: (1) The number of inbound tourists and the gross domestic product do not have a significant impact on the increase in total tourism revenue in Zhangjiajie City. (2) Four aspects, including the number of domestic tourists, civil aviation passenger traffic, road mileage, and per capita disposable income of urban residents, have a significant impact on the increase in total tourism revenue in Zhangjiajie City. Specifically, on average, for every 1% increase in the number of domestic tourists, the total tourism revenue of Zhangjiajie City increases by an average of 0.515%. Similarly, for every 1% increase in civil aviation passenger volume, the total tourism revenue increases by an average of 0.349%. However, for every 1% increase in road mileage, the total tourism revenue decreases by an average of 0.475%. On the other hand, for every 1% increase in per capita disposable income of urban residents, the total tourism revenue increases by an average of 1.229%. (3) There is no lag effect on the increase or decrease in total tourism revenue. Based on the research findings, some policy suggestions are given.