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Determinants of visitors’ expenditure across a portfolio of events
Tourism Economics ( IF 4.582 ) Pub Date : 2021-08-06 , DOI: 10.1177/13548166211030019
António Almeida 1 , Brian Garrod 2
Affiliation  

Destinations are increasingly recognising the advantages of managing their calendar of events as a strategic portfolio. Currently, however, there is no accepted, workable and proven technique for identifying the most efficient variable(s) to employ as a basis for strategic intervention. This study develops a spare regression model, based on the LASSO method, to select an efficient subset of determinants of visitor expenditure across five annual events taking place in Madeira, Portugal. The results indicate that event attendees’ income, length of stay and travel party size are significant determinants of total expenditure across all the events. Adopting strategic measures to influence these variables, if duly implemented at the portfolio level, can enable the cross-leveraging of additional expenditure that would be inaccessible to the destination if the Events were acting independently of one another. This could, in turn, enable the destination to use its events efficiently to enhance its overall competitiveness.



中文翻译:

一系列活动中游客支出的决定因素

目的地越来越认识到将其活动日历作为战略组合进行管理的优势。然而,目前还没有公认的、可行的和经过验证的技术来确定最有效的变量以用作战略干预的基础。本研究基于 LASSO 方法开发了一个备用回归模型,以选择在葡萄牙马德拉举行的五项年度活动中游客支出决定因素的有效子集。结果表明,活动参与者的收入、逗留时间和旅行团规模是所有活动总支出的重要决定因素。如果在投资组合层面适当实施,则采用战略措施来影响这些变量,如果这些事件相互独立,则可以实现目的地无法获得的额外支出的交叉杠杆作用。反过来,这可以使目的地能够有效地利用其活动,以提高其整体竞争力。

更新日期:2021-08-07
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