Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic

Moon, Joonho; Lee, Won Seok; Shim, Jimin

doi:10.3390/ijerph192013523

Open AccessArticle

Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic

by

Joonho Moon

¹

,

Won Seok Lee

^2,*

and

Jimin Shim

²

¹

Department of Tourism Administration, Kangwon National University, Chuncheon 24341, Korea

²

Department of Tourism and Recreation, Kyonggi University, Seoul 03746, Korea

^*

Author to whom correspondence should be addressed.

Int. J. Environ. Res. Public Health 2022, 19(20), 13523; https://doi.org/10.3390/ijerph192013523

Submission received: 30 September 2022 / Revised: 17 October 2022 / Accepted: 17 October 2022 / Published: 19 October 2022

(This article belongs to the Special Issue Satisfaction, Stress, and Mental Health in the Tourism/Hospitality Industry)

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Abstract

The aim of this research was to examine the effects of travel expenditures on life satisfaction in the context of the COVID-19 pandemic. For the research, a curvilinear relationship was established between life satisfaction and travel expenditures that was then compared between 2018 and 2020. The study subjects were middle-aged and older adults who completed the 2018 and 2020 waves of the Korean Longitudinal Study of Aging. Demographic, travel expenditure, and life satisfaction data were collected, and quadratic regression analysis was conducted to examine the effects of travel expenditures on life satisfaction before and during the COVID-19 pandemic. The first-order condition was computed to determine the optimal level of travel expenditures to maximize life satisfaction, and the results exhibit that the utility of travel expenditure decreased during the COVID-19 pandemic.

Keywords: life satisfaction; middle-aged and older Koreans; travel expenditure; inverted U shape; COVID-19

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MDPI and ACS Style

Moon, J.; Lee, W.S.; Shim, J. Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic. Int. J. Environ. Res. Public Health 2022, 19, 13523. https://doi.org/10.3390/ijerph192013523

AMA Style

Moon J, Lee WS, Shim J. Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic. International Journal of Environmental Research and Public Health. 2022; 19(20):13523. https://doi.org/10.3390/ijerph192013523

Chicago/Turabian Style

Moon, Joonho, Won Seok Lee, and Jimin Shim. 2022. "Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic" International Journal of Environmental Research and Public Health 19, no. 20: 13523. https://doi.org/10.3390/ijerph192013523

APA Style

Moon, J., Lee, W. S., & Shim, J. (2022). Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic. International Journal of Environmental Research and Public Health, 19(20), 13523. https://doi.org/10.3390/ijerph192013523

Note that from the first issue of 2016, this journal uses article numbers instead of page numbers. See further details here.

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Effect of Travel Expenditure on Life Satisfaction for Middle-Aged and Older Adults in Korea: Moderating Effect of COVID-19 Pandemic

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