Study on the relationship between per capita tourism expenditure and disposable income of urban residents – Empirical analysis based on VAR model

Abstract

The article constructs the VAR model, and empirically studies the interaction between per capita travel expenditure and disposable income of Chinese urban residents through impulse response function and variance decomposition method. The conclusion of the study shows that there is a long-term dynamic cointegration relationship between tourism expenditures and disposable income of urban residents in China, but the promotion between them is not enough.