Economic Insight for Smarter Tourism Strategy
Publications
The Predictive Power of the Consumer Confidence Index on Japanese Outbound Travel
This paper suggested the predictive power of Japan’s Consumer Confidence Index as a leading index that can be used to identify trends in Japanese overseas travel.
The Use of the Consumer Sentiment Index on Korea's Outbound Tourism Trends as a Leading Indicator
This research paper examines the relationship between the Consumer Sentiment Index (CSI) and the demand for overseas travel among Koreans. It will provide insights into how CSI can be utilized to analyze the flow and trends of Koreans’ international travel.
Uncovering STP Strategies to Attract Japanese Outbound Travelers: A Cluster-Based Analysis
This research investigates the segmentation, targeting, and positioning (STP) strategies for Japanese outbound tourists by applying multivariate techniques to a rich set of travel behavior data.
The analysis resulted in seven distinctly different segments – ranging from luxury sophisticates and young adventurers to regional family travelers and culture enthusiasts – each reflecting unique preferences, motives, and spending patterns. Based on these profiles, tailored targeting and positioning strategies were formulated to enable destination marketers and policy makers to more effectively appeal to desirable segments and maximize tourism benefits. The results underscore the necessity for a data-informed, nuanced approach to tourism marketing and policy design in an increasingly competitive and dynamic international tourism market.
Causal Linkages between Exchange Rate Fluctuations and Tourism: The Case of Korean Visitors to Japan
This study examines the short-term effects of exchange rate fluctuations on inbound tourism to Japan. The analysis uncovers compelling evidence that movements in the yen’s value may do more than reflect economic conditions – they appear to play a direct role in shaping inbound tourism flows. The relationship observed suggests that a weaker yen may serve as an important factor contributing to the rise in foreign tourist arrivals. The results not only point to a statistically significant relationship but also raise important policy questions about how exchange rate dynamics might serve as an indirect lever for boosting tourism and expanding service exports.
