IDENTIFYING THE FACTORS INDUCING FOREIGN TOURISTS TO VIETNAM: A MULTIPLE REGRESSION ANALYSIS APPROACH
HOANG CHI CUONG *
Department of Business Administration, Hai Phong Private University, Vietnam and Postdoctoral Fellowship, College of Business Administration, University of Nebraska, Omaha, USA
TRAN THI NHU TRANG
Department of Business Administration, Hai Phong Private University, Vietnam
DONG THI NGA
Department of Business Administration, Hai Phong Private University, Vietnam
LE THANH CONG
Department of Tourism, Hai Phong Private University, Vietnam
*Author to whom correspondence should be addressed.
Abstract
By employing a panel data set of 27 country partners from 2010 to 2014 and a multiple regression model, this paper will identify the factors inducing foreign tourists to Vietnam. The estimation results indicate that the increase of GDP per capita of Vietnam and country partners, the sharing of the land border, the improvement of tourism condition such as the increasing number of room for rent, the increase of labor force in accommodation and food service activities, and the Travel and Tourism Competitiveness Index are the main factors inducing foreign tourists to Vietnam. Besides that, the distance between Vietnam and country partners is an element impeding foreign tourists to the country. This is consistent with theoretical model.
Keywords: Panel and Vietnam with travel and tourism competitiveness index, substitute attracting, travel and tourism, travel and tourism regulatory framework