THE NEXUS BETWEEN SENIORS' TOURISM EXPENDITURE AND WELL-BEING IN CHINA

An examination of the two-way relationship between tourism expenditure and life satisfaction for seniors is undertaken in this article. This examination uses panel data on China's seniors and tracks the same seniors over 3 years. Results show that there is bidirectional causality between tourism expenditure and life satisfaction, casting doubt on previous studies that do not consider this two-way relationship. This empirical relationship highlights the importance of a two-pronged policy strategy-a government policy committed to social tourism programs for seniors who may not be able to afford travel and those who reside in rural areas. Another government strategy is to address aged concerns related to mobility and health to improve well-being and the provision of appropriate facilities for leisure travel. Senior tourism demand was found to be income inelastic and this result means that senior tourism can buffer Chinese economic growth in times of economic crisis and uncertainty, making the twin policy strategy a worthwhile consideration.