Jeetesh Kumar & Anshul Garg
Abstract:
Most prior research used tourist arrivals to examine international tourism demand. However, tourist arrival is not an accurate factor to determine international tourism demand as it does not show the actual spending pattern of tourists which includes goods and services purchased. Literature has proven that business tourists always spend more than leisure tourists; thus, tourist expenditure is an essential measure of international tourism demand. For the current research, we summarised 31 studies to review several variables that could affect tourism demand and expenditure. The current research concludes that microeconomic modelling should be the focus and given priority for studying tourism demand and the factors that affect business tourist expenditure.
Keywords: Business tourists, spending, destination-related factors, microeconomic analysis, psychological factors, economic modelling destination atmospherics, zone of tolerance, tourist