Impacts of stock prices and interest rates on tourism consumption.

摘要

Tourism industry has emerged as a leader in the U.S.'s service economy in the last decade. Meanwhile, stock markets and interest rates have been playing a more important role in Americans everyday lives. Prior research mainly focused on the economic impact of travel and tourism industry, but there are very few studies regarding how changes in economic factors will affect domestic tourism industry. This study focuses on measuring the impacts of stock prices and interest rates on tourism consumption. The results of this study show that stock prices and interest rates do have a certain amount of impacts on people's tourism consumption.