| The study seeks to determine what conditions best explain international tourism demand generation from the three Newly Industrialized Countries (NICs) of Hong Kong, South Korea, and Singapore and to compare the results among the countries in order to identify common factors and unique circumstances which account for tourism generation from the countries. Using annual time series data the study sought to explain outbound tourism generation by use of econometric models. Statistical analyses used in the study include: multiple regression, covariance analysis, t-tests, F-tests, R;The results of the data analysis show that the outbound tourism generation level can be explained by socio-economic variables. Although most of the candidate socio-economic variables examined are good indicators of outbound tourism generation, the tests performed indicate that each country has one dominant indicator (consumer prices for Hong Kong and South Korea and Trade for Singapore). Exchange rate was included as a second variable in each of the final models. Hong Kong and South Korea were found to have similar models but at different levels.;This study indicates that East Asian NICs which are experiencing unprecidented rapid industrialization appear to require further investigation since the best models found to estimate tourism demand were not consistent with the traditional Western tourism demand models. The recent economic reforms, technological advancement, increasing democratization, and reduction of trade and travel barriers by many Asian countries indicate a need for tourist receiving countries throughout the world to seriously examine and plan for the Asian tourist. |
