International tourism demand in Asia: before and after the economic crisis

A subprime mortgage crisis erupted in the United States in 2007 and resulted in an economic crisis spread worldwide. This study focused on seven major Asian tourist destinations and investigated the changes in international tourism demand before and after economic crisis. The data period was January 2004 to December 2014. The results demonstrate the tourist numbers in each country was affected by the income variable. The decrease in tourist numbers was most significant during and after the economic crisis, indicating an increase in the sensitivity of tourists toward their economic-crisis-based income fluctuations, causing changes in their travel behavior.