Tag: economic modeling

Annotation: This study explores the psychological and economic prerequisites for the formation of demand for tourism services, taking into account not only travelers' incomes but also stable personality traits, values, and motivations. The relevance of the topic is due to the fact that classical economic models, which rely solely on demographic and financial parameters, often prove insufficiently accurate in predicting actual consumer behavior in the tourism sector. The novelty of this work lies in the proposal of an expanded approach that integrates elements of behavioral economics and psychological variables into traditional models of tourism demand. The study describes various ways to account for personality factors, cognitive biases, and emotional engagement of tourists, as well as an analysis of existing research confirming the significance of these factors in route selection and expenditure distribution. Particular attention is given to comparing models that incorporate social preferences and motivational attitudes. The objective of this study is to demonstrate the advantages of a comprehensive approach that considers both economic and psychological determinants. The findings may be useful for tourism and marketing professionals in designing products and forecasting travelers' expenditure structures.