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Advisor(s)
Abstract(s)
his paper complements the scarce empirical literature on contingent consumption by testing Veblen’s conjecture on overnight stays in Portugal. The price elasticities for overnight stays are calculated over 2013–2019 and across NUTS II regions. The results confirm the existence of conspicuous consumption in overnight stays in most Portuguese regions, especially in the Centro, Alentejo and Madeira regions in peak seasons in 2019. Also, in average terms over 2013–2019, the region of Algarve shows evidence of conspicuous consumption of overnight stays. Yet, since the peak seasons are of short duration, the conclusions about the magnitude of elasticities must be handled with caution. These results are relevant not only for tourism management but also to tourism planning at regional level. Indeed, by exploring whether the differences in overnight stays can be explained by a status-seeking behavior, the results carry important implications for spending on future travels, especially in periods of economic downturns.
Description
Keywords
Conspicuous consumption Hospitality industry Price elasticity Regional policy Tourism
Pedagogical Context
Citation
Santos, E., Moreira, J. (2022). Price Elasticity of Overnight Stays: Testing Veblen’s Conjecture Across Portuguese Regions. In: Abreu, A., Liberato, D., Garcia Ojeda, J.C. (eds) Advances in Tourism, Technology and Systems. Smart Innovation, Systems and Technologies, vol 293. Springer, Singapore. https://doi.org/10.1007/978-981-19-1040-1_3
Publisher
Springer