Do the macao’s pillar industries have an impact on inbound tourism?

Abstract

© 2021, The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG. The purpose of this article is to select 12 countries/regions (China, Hong Kong, Taiwan, Australia, Indonesia, Japan, Malaysia, New Zealand, the Philippines, South Korea, Singapore, and Thailand) for quarterly data (2008Q1–2018Q4) analysis using panel–ARDL model with Bayesian MCMC method to estimate the relationship between Macao’s pillar industries and inbound tourism. The results show that there is a long–term relationship between word–of–mouth effect and Macao’s tourism demand. Tourism price has a significant negative impact on the entry of tourists. Seasonality has a significant negative impact in the first quarter. It is recommended to launch the Spring Festival family travel products to attract family members to travel together. The gaming industry has a positive effect, and the real estate industry has a negative impact on the development of tourism.