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WHAT IF PRICES CHANGE? ANALYSIS OF INTERNATIONAL TOURIST MARKET SEGMENTS' COMPOSITION IN THE FACE OF INFLATION FLUCTUATIONS
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WHAT IF PRICES CHANGE? ANALYSIS OF INTERNATIONAL TOURIST MARKET SEGMENTS' COMPOSITION IN THE FACE OF INFLATION FLUCTUATIONS
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Journal Article
WHAT IF PRICES CHANGE? ANALYSIS OF INTERNATIONAL TOURIST MARKET SEGMENTS' COMPOSITION IN THE FACE OF INFLATION FLUCTUATIONS
2025
Overview
The Changes Price Index has considerable volatility that makes massive changes in the global market; subsequently, it could affect tourism demand and transform visitor profiles. The paper aims to answer the effect of it on international tourists and know the segment(s) beneficiated by this context. The research also considers that the CPI is inhomogeneous and involves different types to expand the analysis. The analysis will run a Latent Class model over the international tourist survey data conducted by the Spanish Statistic Office, first to obtain the clusters and later to analyze the elasticity of exogenous variables over the groups. The results show how low-expenditure profile is more sensitive to price changes; meanwhile, others with more added value are more inelastic. The main conclusion is that the business focused on the sun and sand segment and low expenses should adapt their supply by increasing the international tourist perceived value. El Índice de Precios al Consumo (IPC) tiene una volatilidad considerable que provoca cambios masivos en el mercado mundial; en consecuencia, podría afectar a la demanda turística y transformar los perfiles de los visitantes. El objetivo del trabajo es responder al efecto que tiene sobre los turistas internacionales y conocer el segmento o segmentos beneficiados por este contexto. La investigación también considera que el IPC es heterogéneo e involucra diferentes tipos para ampliar el análisis. El análisis correrá un modelo de Clases Latentes sobre los datos de la encuesta de turismo internacional realizada por la INE, primero para obtener los clusters y después para analizar la elasticidad de las variables exógenas sobre los grupos. Los resultados muestran cómo el perfil de bajo gasto es más sensible a los cambios de precios; mientras, otros de mayor valor añadido son más inelásticos. La principal conclusión es que los negocios centrados en el segmento de sol y playa y bajo gasto deberían adaptar su oferta incrementando el valor percibido por el turista internacional.
