Factors Influencing Visitor's Choices of Urban Destinations in North ...

Table of ContentsI. EXECUTIVE SUMMARY .................................................................................................. 1Highlights................................................................................................................................ 1Study Summary........................................................................................................................ 1Recommendations ................................................................................................................... 2Next Steps................................................................................................................................ 3II. INTRODUCTION............................................................................................................. 4III. STUDY OBJECTIVE....................................................................................................... 4IV. METHODOLOGY ........................................................................................................... 5A. LITERATURE REVIEW........................................................................................................... 6Introduction............................................................................................................................. 6Key Findings ........................................................................................................................... 7B. SELECTION OF NORTH AMERICAN CITIES ............................................................................ 7C. DEVELOPING AN ATTRACTIONS MATRIX ............................................................................. 8D. ECONOMETRIC APPROACH................................................................................................... 9E. DATA COLLECTION............................................................................................................ 10Visitations Data .................................................................................................................... 10Attractions Data.................................................................................................................... 10Non-Attraction Variables...................................................................................................... 12F. TRAVEL PUBLICATIONS ..................................................................................................... 14Michelin ................................................................................................................................ 14Frommer's............................................................................................................................. 15Fodor’s.................................................................................................................................. 15G. MEASURES OF ATTRACTION COUNT .................................................................................. 15Number of Attractions...........................................................................................................16Normalized Attractions ......................................................................................................... 16Normalized Share of Attractions........................................................................................... 16H. DISCUSSION OF RESULTS ................................................................................................... 17Key Findings ......................................................................................................................... 17I. INTERPRETATION OF REGRESSION RESULTS....................................................................... 21Regression-Specific Conclusions.......................................................................................... 22J. ANALYSIS OF MODEL RESIDUALS...................................................................................... 27K. IMPACT OF ATTRACTION TYPE ON VISITATIONS ................................................................ 30Attraction Elasticities for Ottawa and Toronto .................................................................... 31Marketing Budgets Elasticities ............................................................................................. 32