Income and Price Elasticities by Nationality for Tourists in Denmark

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Abstract
This paper presents estimates of income and price elasticities for the six most important nationalities visiting Denmark as tourists. The estimates are based on two different measures of the Danish tourism revenue: the number of nights spent and the currency exchange statistics. The explanatory variables are prices and income abroad. The estimates vary considerably across nationalities. For German tourists, who account for the largest share in Danish tourism, the estimates for price elasticities are quite high: the long-run price elasticity with respect to the prices in Denmark is close to −1.5 and the long-run income elasticity is found to be near 2.

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