A multivariate analysis of tourists’ spending behaviour

Abstract

According to the micro-economic theories regarding consumption behaviour, the determinants affecting the joint propensity of purchasing different goods and services are investigated. For this purpose, a copula-based model is suggested to understand how different expenditure categories are dependent with each other. A real application drawn from the tourism field illustrates the proposed approach and shows its main advantages. The findings could guide local practitioners and managers in creating new promotional campaigns able to attract visitors willing to pay on a bundle of goods and services correlated with each other.