Effect of urban tourist satisfaction on urban macroeconomics in China: A spatial panel econometric analysis with a...

Tourist satisfaction has always been a crucial research issue in the tourism economy. This paper utilizes the Spatial Durbin Model (SDM) to analyze the impact of urban tourism satisfaction on urban macroeconomics from a macro perspective, using quarterly data on tourist satisfaction in 35 large and medium-sized cities along with major urban macroeconomic variables. This study is quite distinct from previous research that focused on constructing a tourist satisfaction index and analyzing the influence factors of tourism satisfaction from the perspective of the micro-level internal composition of tourism. The empirical results show: Firstly, in respect of the impact of urban tourists' satisfaction on the GDP income of cities, the SDM and the SDM with a lagged first-order dependent variable (SDM_dlag) show that the short-term and long-term indirect effects of log-tourist satisfaction are significantly positive, indicating that city satisfaction has a significant positive spatial spillover effect on GDP growth in other cities; Secondly, in respect of the influence of urban tourist satisfaction on the cost of urban life in the SDM, the long-term direct and indirect effects of logarithmic satisfaction are significantly positive, implying, in the long run, that tourist satisfaction has a positive intraregional spillover effect and spatial spillover effect on urban living costs; Finally, the SDM_dlag for the regression of urban tourist satisfaction on the cost of urban daily life shows that the short-run direct and indirect effects of city tourist satisfaction are significantly negative, indicating that tourist satisfaction has intra-regional and spatial spillover effects, and its rise will reduce the cost of living expenses in local and other cities in the short term. Overall, we have further elucidated the role of different levels of urban tourist satisfaction in city macroeconomics from the spatial dimension, thereby enriching the existing research on tourist satisfaction to some certain extent.