Journal
MARITIME POLICY & MANAGEMENT
Volume 44, Issue 4, Pages 524-535Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/03088839.2017.1298866
Keywords
Ordered probit model; sample selection bias; cruise tourism; shore excursion expenditure; Korea
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Funding
- Korea Evaluation Institute of Industrial Technology (KEIT) [N0001613] Funding Source: Korea Institute of Science & Technology Information (KISTI), National Science & Technology Information Service (NTIS)
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Recently, the number of foreign tourists to Korea via cruise ships has increased dramatically. We attempted to estimate the shore excursion expenditure function during cruise tourism in Korea. To this end, we collected data from a survey of foreign tourists who visited Korea via cruise ships and conducted the ordered probit model with sample selection to correct for the sample selection bias. Statistical tests indicate that the sample selection model provides unbiased estimates of the ordered probit model. The estimation results reveal that the coefficients of the experience of visiting Korea, job status, annual income, and nationality have statistically significant relationships with shopping expenditure. Further, it is likely that Chinese and Japanese passengers spend more money on shopping than passengers from other countries. This study is expected to provide the Korean government and port authorities with useful information for targeting passengers with high shore excursion expenditure. From a management perspective, the results of this analysis will enable cruise operators to design shore excursion programs that meet travelers' needs.
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