Analysis of the Predictive Factors of Travel Expenditures

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Analysis of the Predictive Factors of Travel Expenditures

Authors

Haofeng Liu

Rubric:Economics of recreation and tourism
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Background: Travel expenditures are important to consumers, and to the economy of the nation as a whole. Previous studies have found that there are differences in economic status and expenditure pattern among different racial/ethnic groups in the U.S.. This study aimed to describe the travel expenditures and components in the United States in year 2017, and to evaluate if there is any racial difference in travel expenditures.

Methods:  Data from the 2017 Quarterly Interviews of the Consumer Expenditure (CE) Surveys were used. Average annual travel expenditure, its components, and how much proportion it took among the total expenditure were described. Linear regression analysis was employed to examine if there is difference in the proportion of expenditure on travel among different racial groups.

Results: On average, consumers in the United States spend 4% of total expenditure on travel.  Among all consumers in the nation, Asian consumers spend 1.4% more proportion of expenditure on travel than Whites. Black and Native Americans spend less (1.32% and 1.09%, respectively) than Whites.

Conclusion: There is any racial difference in proportion of expenditures on travel, with Asians higher than Whites, and Blacks and Native Americans lower than Whites. 

 

Keywords

linear regression
model
economics
Travel expenditures
race

Authors

Haofeng Liu

Rubric:Economics of recreation and tourism
26
0

References:

1.      Gao, L. & Kim, H. Consumer Spending on Entertainment and the Great Recession. (2017).

2.      Paulin, G. Travel expenditures, 2005–2011: spending slows during recent recession. (2012).

3.       Fan, J. X. Expenditure Patterns of Asian Americans: Evidence From the U.S. Consumer Expenditure Survey, 1980–1992. Fam. Consum. Sci. Res. J. 25,

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