A panel data-based analysis of factors influencing market demand for Chinese outbound tourism

This paper presents data on the top 50 outbound destinations for Chinese tourists from 2002 to 2013. The total number of Chinese tourists traveling to these 50 destinations accounts for 95.38% of outbound travelers from China. We built a dynamic panel data model to measure factors that influence market demand for Chinese outbound tourism. The results show that economic variables such as income, tourism prices, and exchange rates have a significant influence on outbound tourism volume. The effect of bilateral goods trade and leisure time significantly differ between the full sample and the two subsamples, whereas political stability of the destinations and special incidents in China have no significant impact on demand for outbound tourism. Based on these findings, this study proposes strategies to strengthen the management of China's outbound tourism market.