Economic theory holds a central place for price as a determinant of demand. In
international tourism, a large number of empirical studies have attempted to estimate
the role of price in the form of price elasticities. So far, however, there seems to be
little consensus across these studies because the results have been found to vary
considerably. This study investigates in depth the findings of these studies. The
evidence suggests an average price elasticity of demand for international tourism
around -0.6 to -0.8, the magnitude depending on a number of methodological and
substantive factors. Tourist destinations need to continue to manage costs and
tackle, as well, the whole issue of efficiency and productivity of local tourist services.
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