Traditional Culture Encyclopedia - Tourist attractions - Factors affecting the price elasticity of tourism demand

Factors affecting the price elasticity of tourism demand

Economic conditions and economic factors. The factors that influence the price elasticity of tourism demand are economic conditions and economic factors. Economic conditions and economic factors determine the elasticity of individual demand for tourism products. The demand price elasticity coefficient refers to the sensitivity of tourism demand to changes in tourism product prices. It is expressed as the ratio of the percentage change in tourism product prices to the percentage change in tourism demand.