Empirical Analysis on the Influencing Factors of Shanghai Residents’ Tourism Consumption Level

School of Management, Shanghai University, Shanghai China

Abstract

In recent years, with the economic level of our country and the continuous development of people’s consumption concept, residents’ tourism consumption has become a popular trend of consumption. This paper is based on the tourism consumption related data of Shanghai residents in 1996-2015, selecting four main influencing factors of Shanghai third industry gross product, consumer price index, Engel coefficient and traffic cost. Through the establishment of econometric model, the paper didi Multiple linear regression analysis of OLS using R software, getting the estimation of the corresponding parameters. Then for the model, the paper did Multiple collinear test, heteroscedasticity and autocorrelation test and correction. Finally, the conclusion is obtained according to the revised model. By studying the characteristics of tourism consumption level and related data, we find that the third industry gross output and Engel coefficient of Shanghai have a significant impact on the consumption level of Shanghai residents. In order to make some contributions to the economic development of our country, we put forward some countermeasures and suggestions on the development of Shanghai’s tourism.